{
}
Sona Comstar is set to acquire the railway equipment division of Escorts Kubota for Rs 1,600 crore, a move expected to boost earnings from the first year. This division, a key supplier of railway components like brakes and suspension systems, reported revenues of approximately Rs 950 crore in FY24. The acquisition aligns with Sona Comstar's strategy to expand into the mobility sector and enhance its clean mobility product offerings.
L&T Finance is adopting a cautious approach towards its rural business due to ongoing challenges in the microcredit sector, as stated by CEO Sudipta Roy. In the second quarter, rural finance disbursements fell by 5% year-on-year and 6% quarter-on-quarter, totaling Rs 5,435 crore, amid rising gross stage 3 loans.
Hindustan Unilever Ltd., India's largest household-products manufacturer, reported a second-quarter net income of 26.1 billion rupees ($310 million), a 4% decline from the previous year. This figure fell short of analysts' expectations, which averaged 27.06 billion rupees, amid ongoing weak demand for consumer goods.
The Nifty 50 continued its downtrend for the third session, closing at 24,436 after hitting a low of 24,378. It must hold the 24,350-24,400 range to potentially bounce back towards 24,600-24,700; otherwise, it risks falling to the 24,000 support level. A move above 24,605 could signal a short-term positive shift, despite the prevailing negative chart pattern.
Hindustan Unilever Ltd reported a Q2 FY25 net profit of Rs 2,591 crore, down 2.4% from Rs 2,668 crore a year earlier, missing analyst expectations. Revenue rose 2.1% to Rs 16,145 crore, surpassing predictions, while EBITDA stood at Rs 3,647 crore with a healthy margin of 23.8%. A dividend of Rs 29 per share was declared amid challenges from high commodity inflation and muted demand.
Hindustan Unilever Ltd (HUL) has announced its decision to separate its ice cream business, following a recommendation from an Independent Committee after a thorough review. This restructuring aims to enhance focus on core areas such as Beauty, Foods, Health, and Wellbeing, aligning with Unilever PLC's global strategy to separate its ice cream operations.
IndiQube, a Bengaluru-based managed office space firm, plans to file for an Rs 800-crore IPO in November, aiming for a valuation of $1-1.2 billion. The IPO will be a fresh issue of shares, with founders retaining their stakes. Currently, the company operates around 6 million square feet of office space, with an additional 1 million square feet expected to launch in the next year.
Tan Min Lan, head of CIO APAC at UBS Global Wealth Management, has expressed optimism about Indian equities, suggesting that now is an opportune moment to "buy the dip." She shared her insights during an interview on "Insight with Haslinda Amin."
Tan Min Lan, Head of UBS Global Wealth Management and CIO APAC, has advised that now is an opportune moment to "buy the dip" in Indian equities. She shared these insights during an interview on "Insight with Haslinda Amin."
Rashesh Shah, Co-founder of Edelweiss Group, refuted the notion that investing in IPOs detracts from bank deposits, stating that such funds eventually return to the banking system. He emphasized the interconnectedness of financial sectors, noting that household savings in India have reached nearly $1 trillion, making the country less reliant on foreign capital.
IND
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
sona comstar to acquire escorts kubota railway division for 1600 crore
13:53 23.10.2024
L&T Finance adopts cautious approach to rural business amid microcredit challenges
13:27 23.10.2024
unilever india reports lower profit amid ongoing weak consumer demand
13:27 23.10.2024
nifty 50 struggles to maintain support as bears tighten grip
13:25 23.10.2024
Hindustan Unilever Q2 profit declines amid rising costs and muted demand
13:23 23.10.2024
Hindustan Unilever to separate ice cream business for strategic focus
13:15 23.10.2024
IndiQube plans 800 crore IPO aiming for 1 billion valuation
13:02 23.10.2024
tan recommends buying the dip in indian equities amid global shifts
13:01 23.10.2024
ubs executive recommends buying the dip in indian equities
13:01 23.10.2024
equities and bank deposits are interconnected says edelweiss co-founder rashesh shah
13:00 23.10.2024
Trending
Subcategory
Industry Trends
Corporate News
Startups & Entrepreneurship
Global Trade Developments
Retail and Consumer Goods
Supply Chain Management
Stock Market Updates
Government Economic Policies
Private Equity Deals
Energy Sector Developments
AI Applications
Funding Rounds & Investments
Industry Mergers & Acquisitions
AI Innovations
Fintech Startups
Venture Capital Investments
Emerging Startups
IPOs & SPACs
CEO Changes
Inflation and Monetary Impact
Countries:
Companies:
Apple Inc.
Google Inc.
Tesmec S.p.A.
Amazon.com, Inc.
Microsoft Corporation
Mastercard Inc
NVIDIA Corp
Tesla, Inc.
OpenAI ERC USD
The Goldman Sachs Group, Inc.
Visa Inc.
SWIGGY LIMITED
Ripple USD USD
OLA ELECTRIC MOBILITY LTD
Microsoft Corp
Micron Technology, Inc.
SAP SE
Oracle Corp
Ather Energy Ltd.
GLOE Inc.
Currencies:
United States Dollar
Indian Rupee
Chinese Yuan
Euro
Japanese Yen
British Pound Sterling
Saudi Riyal
United Arab Emirates Dirham
New Zealand Dollar
Thai Baht
Vietnamese Đồng
Canadian Dollar
Indonesian Rupiah
South Korean Won
Malaysian Ringgit
Brazilian Real
Swiss Franc
Qatari Riyal
Bangladeshi Taka
Kuwaiti Dinar
People: