Wed, Jun 26, 2024 6:58 PM
'Expected IPO timelines are 18-24 months': Kogta Financial's Arun Kogta
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SAIL has revoked the suspension of two directors, VS Chakravarthy and AK Tulsiani, and several below board level officials, including four executive directors, effective immediately, following orders from the Ministry of Steel. The company had initially suspended these officials in January 2024 due to ongoing investigations directed by the Lokpal, in compliance with SEBI regulations.
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Nestle's CEO, Markus Schneider, expects stable sales volume growth from Q2 onwards as cost inflation eases, following a 5.9% decline in Q1 sales. Adjusted for currency swings, Q1 sales rose 1.4%. The company forecasts 4% currency-adjusted sales growth for 2024. Schneider is confident that Nestle has overcome challenges from cost inflation and lower sales volumes due to marked-up prices.
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Spot gold prices recovered 2% from a weekly low of $2293 to $2339 before closing at $2326, down $1, on Friday. The US Dollar Index gained ground, closing at 105.84, up 0.04% for the week. US 10-year yields rose to 4.38%, up 2.28% on the day and 4% on the week, while 2-year yields closed at 4.75%, up 0.20% on the week.
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