Fri, Jan 3, 2025 2:18 PM
Karnataka cabinet gives approval for separate Dharwad civic body
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Hit by inflation, higher input costs, and pricing measures, fast-moving consumer goods (FMCG) companies are expected to see a contraction in their gross margin and a modest-to-flat operating profit in the October-December quarter. Several FMCG makers are likely to log a low single-digit rise in their revenue, returning to the cycle of value-driven growth.
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The combined market cap of four of the top 10 most valuable companies declined by ₹96,605.66 crore last week, with HDFC Bank experiencing the sharpest loss. Among the top firms, TCS, HDFC Bank, ICICI Bank, and SBI saw their valuations decrease, while Reliance Industries, Bharti Airtel, Infosys, ITC, LIC, and HUL recorded gains, collectively adding ₹82,861.16 crore to their market capitalisation.
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Foxconn, the world's largest contract electronic maker, reported a record-breaking revenue of $64.72 billion in Q4, fueled by strong demand for AI servers, beating estimates and surging 15.2% year-over-year. The company also saw a 42.3% total revenue rise, with its smart consumer electronics segment remaining flattish.
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