Sunday, November 24
The second quarter earnings season is underway and as many as 2515 companies will declare their results this week. Some of the marquee names include ONGC, Hindalco, Britannia, Hyundai Motor, Nykaa, Eicher Motors, Vodafone Idea, HAL, Grasim, Hero MotoCorp, among others.Most of the earnings so far have been muted in the second quarter for India Inc as analysts had already predicted the slowest numbers in over four years as Nifty earnings may grow marginally by just 2% year-on-year.Here are the key earnings to watch out next weekNovember 11ONGC, Hindalco, Britannia, Shree Cements, NMDC, Bank of India, UPL, Jubilant Foodworks, Godfrey Phillips, Hindustan Copper, Devyani International, Ramco Cements, Triveni Turbine, Elgi Equipments, Concord Biotech, Blue Dart Express among others will announce
India is emerging as a "good opportunity market" in the gaming business for the consumer electronic major Sony, its India Managing Director Sunil Nayyar said. The company has reported "phenomenal growth" in the gaming business in FY24, with the robust performance of PlayStation 5 and its software peripherals. Sony India's PlayStation dominates the console operating gaming system market here with around 95 per cent market share and has almost doubled its revenue in FY 2023-24 from the segment. However, now, it expects a moderation in the growth rates because of the high base, Nayyar said. "Now, the base is very high because we almost achieved the double business last year. So this year, we intend to have modest growth, but we are developing the gaming business market in the country, includ
The Supreme Court Friday said there is nothing wrong in income tax department deducting tax (TDS) from salaries paid to nuns and priests working as teachers in govt-aided Christian missionary schools even if they have taken a vow of poverty.Dismissing the appeals filed by nearly 100 dioceses and congregations from Tamil Nadu and Kerala, a bench of CJI D Y Chandrachud, and Justices J B Pardiwala and Manoj Misra said whether or not they have taken vow of poverty, the salaries are given from govt grants and once there is a income, there has to be a tax.Representing the dioceses, senior advocates Arvind Datar and S. Muralidhar stated that the salaries paid to nuns and priests are considered income of the religious congregation that operates the school, and the teachers themselves do not person
The combined market valuation of six of the top-10 most-valued firms eroded Rs 1,55,721.12 crore last week, with Reliance Industries emerging as the biggest laggard, in line with an overall weak trend in equities. Last week, the BSE benchmark declined 237.8 points, or 0.29 per cent. While Reliance Industries, Bharti Airtel, ICICI Bank, ITC, Hindustan Unilever and Life Insurance Corporation of India (LIC) suffered erosion in their market valuation, Tata Consultancy Services (TCS), HDFC Bank, Infosys, and the State Bank of India were the gainers. The valuation of Reliance Industries fell Rs 74,563.37 crore to Rs 17,37,556.68 crore. Bharti Airtel's valuation dropped Rs 26,274.75 crore to Rs 8,94,024.60 crore. The market valuation of ICICI Bank slumped Rs 22,254.79 crore to Rs 8,88,432.06
A sense of déjà vu overwhelmed Wall Street this week, as Donald Trump’s election win gave the stock market a jolt similar to what happened after his victory eight years ago. Small caps soared, banks leaped and the S&P 500 Index had its best Election Day in history and strongest week in 12 months.The challenge, however, is this is 2024, not 2016. Things have changed a lot since then. “As Mark Twain once said, ‘History does not repeat itself, but it often rhymes,’” Matt Maley, chief market strategist at Miller Tabak + Co., LLC, said. “So investors should remember the old playbook, but they shouldn’t memorize it.”When Trump ran for president in early 2016, US equities were on shaky footing, posting their worst start to a year since the financial crisis with a drop of mor
