Zensar has shown a steady performance turnaround under Manish Tandon since 2023, despite a less-than-stellar Q2 FY25 due to unseasonal furloughs in the hi-tech sector. The company is focusing on domain-led solutions and remains optimistic about outperforming peers in the next two years, even as wage hikes and furloughs have impacted gross margins. With encouraging order flows and a decent outlook, investors are advised to gradually build positions for the long term, despite current valuations being on the higher side.
SJS Enterprises reported a strong Q2 FY25 performance, with an 18.4% increase in revenue, driven by its focus on premium products. The company maintains an operating margin above 25%, outperforming the industry amid challenging market conditions. Medium-term growth is supported by protectionist measures and an inorganic growth strategy.
Nazara Technologies has successfully closed an Rs 855-crore funding round, attracting both new and existing investors to support its acquisition strategy and global expansion. The company issued 89.6 lakh shares at Rs 954.27 each, with shares trading at Rs 1,021, reflecting a 3% increase. Founder Nitish Mittersain anticipates that the core gaming business will emerge as the largest revenue generator within the next two to three years.
The Nifty IT index fell over 1% on November 28, reaching 43,630, as all 10 constituent stocks declined amid concerns over slower future rate cuts following stronger-than-expected U.S. consumer spending data for October. This drop follows a 2% decrease in September and a 4% decline in October, despite an 8% rebound in November. The data indicated a 0.4% rise in consumer spending, surpassing expectations and suggesting sustained U.S. economic growth.
India's equity markets are emerging as a rare bright spot amid global turmoil, with the Sensex up 0.62% in November and the Nifty 50 down just 0.15% in dollar terms. In contrast, major developed markets like France's CAC 40 and Germany's DAX have seen significant declines, highlighting India's resilience as the most stable market outside the US.
Vivendi is set to spin off Canal+ for a London listing, aiming to rejuvenate the sluggish market. Meanwhile, Christine Lagarde warns that trade wars could impact global GDP, and Sir Alex Younger comments on Tulsi Gabbard's potential role in Donald Trump's administration. Additionally, Adani Group faces challenges with its infrastructure projects in Kenya due to bribery allegations.
Britain's economy is struggling, lagging behind Eurozone peers with lower per capita GDP than France and Germany, while facing high costs in housing and energy. A recent essay argues that the country has hindered essential investments in housing, transport, and energy over the past 15 years, contributing to its economic stagnation.
Britain's HS2 project, initially planned as a 330-mile high-speed rail network, has devolved into a 140-mile line between London and Birmingham, with completion now expected by 2033. The project, plagued by spiraling costs, is set to burden the UK with a $90 billion bill, contrasting sharply with China's extensive and costly high-speed rail system.
The Czech Republic's central bank is on a mission to significantly increase its gold reserves, aiming to double its stockpile to 100 metric tons within three years. Since Ales Michl took office in 2022, the reserves have grown fivefold as part of a strategy to diversify the bank's assets.
The Grifols family, known for transforming a blood-collection business into a major medical fortune, faces renewed scrutiny after Brookfield Asset Management withdrew its plan to take Grifols SA private. The family has stated it will not pursue another deal, bringing to light ongoing issues such as governance concerns, transparency problems, and a heavy debt load from past acquisitions, raising fears of a cash crunch.
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