The cooling of fuel costs and the Union government’s construction spree in the run-up to the 2024 general elections are expected to help margins and volumes.
The premium of Oman futures over Dubai swaps fell below $1 a barrel on the Dubai Mercantile Exchange on Thursday. It’s plunged about 80% this month.
The rupee last traded at 81.8450 per U.S. dollar, compared with Tuesday's close of 81.6650. The local unit was in a narrow 81.75 to 81.8550 range during the session.
The rupee declined 0.25% to 81.2975 per dollar. It has shed nearly a percent from its high of 80.51 on Monday, with volatility gripping markets this week.
Due to a weaker economic backdrop and China’s strict anti-Covid measures, the Organization of Petroleum Exporting Countries lowered estimates for the amount of crude it will need to pump this quarter by 520,000 barrels a day, following a similar-sized downgrade a month ago.
While many investors still bat for the sector calling it “just another cycle of correction”, there is fear that valuations for SaaS companies will see sharper cuts as more layoffs and cost rationalization are on the cards.
Managing Director Manish Bandlish says some of the proposed plants will produce processed food items for the Safal brand and others will focus on milk and milk products. Company also looking at strengthening presence in Uttar Pradesh, Bihar and Maharashtra.
The company had reported a net profit of Rs 26.41 crore in the year-ago period. Total income during the July-September period of 2022-23 fiscal year rose by 46 per cent to Rs 962.34 crore, TVS Credit said in a release on Friday.
Prices of rubber latex, a key raw material for gloves, have fallen 40 to 50 percent over the past few months
Tech Mahindra has reported net deal wins of $716 million and remains cautious of macro uncertainty
In this edition of Market Minutes, Asha Menon talks about global brokerages’ view on India’s equity markets and on the sectors that they believe will be outperformers or laggards. Market Minutes is a morning podcast that tracks the risk-reward in stock markets by putting the spotlight on keys data points and developing trends
Delaporte added that the nature of deals is shifting, but there stated that he hasn't seen a decline in the number of bookings
Accenture Plc, whose fiscal year ends August 31, will announce its fourth quarter earnings after Indian markets hours on Thursday.
The CEO's comment came after FedEx missed estimates on revenue and earnings in its first quarter.
US benchmark West Texas Intermediate sank below $85 while the global Brent benchmark fell below $90.
In India, the non-urban nights booked have increased by about 140 per cent when compared to the second quarter of 2022 (April-June) with the pre-pandemic second quarter of 2019, while non-urban long-term stays booked in India more than doubled, according to Airbnb internal data.
India's demand for oil products is projected to rise from 4.77 million barrels per day (bpd) in 2022 to 5.14 million bpd in 2023.
Over the last year, demand trends in India have diverged as high inflation and unseasonal rain resulted in a compression in rural demand while reopening of urban areas led to a resurgence in urban discretionary demand
While inflation and currency volatility are exerting unforeseen costs, drought in Europe can weaken demand
On the Multi Commodity Exchange, silver contracts for September delivery gained Rs 1,596 or 2.91 per cent to Rs 56,440 per kg in 19,151 lots.
During the pandemic, e-pharmacies and online consultation platforms turned out to be lucrative businesses within health tech, which also includes at-home diagnostics, fitness and nutrition platforms, disease management and employee wellness services.
FMCG companies have now pinned hopes on the monsoon, which could bring about revival in the rural economy and spur sluggish consumption.
Hike in customs duty on gold by 5 per cent to 12.5 per cent on June 30 is likely to result in flat revenue growth for gold jewellery retailers in the current financial year compared to the exceptional demand witnessed in the year-ago period.
Shakti Pumps, which was hit by low market demand led by Covid-19 issues and slow government capex, has once again started seeing recovery in demand. While the ongoing market correction dented the stock price, export business continues to improve, and domestic markets have also witnessed growth. MC Pro suggests holding the stock as it currently seems to be trading at reasonable valuations. Watch the video to know if you should invest at current levels.
Thangamayil Jewellery mentions in its annual report that June’22 quarter was its best ever quarter in history. While the stock has corrected by about 25 percent in the past six months, market share gains from unorganised players provides a huge growth opportunity. MC Pro recommends long-term investors to add the stock to their portfolio. Here's why!