In a business update, Dabur India on January 4said its domestic business revenue is expected to register mid to high single digit growth during the third quarter of financial year 2023-2024. In India business, F&B (food & beverages) segment is expected to grow in high-single digits and HPC (home and personal care) is expected to record growth in mid-single digit.
Open FlipThe benchmark Sensex and Nifty erased their morning gains to trade flat as the market prepares for the earnings seasons for the quarter ended December. The frontline indices are tracking mixed global cues, with the US Treasury yield inching towards the 4 percent mark on doubts regarding the US Federal Reserve's rate cut plans. At 11:48am, the Sensex was up 55.23 points or 0.08 percent at 71,902.
Open FlipAs the domestic equity market keeps on making new peaks every other day, a similar surge in new Demat account additions is also being seen. In December, the total new Demat account openings touched a new high of 42 lakh, taking the number of total Demat accounts to 13.93 crore.The addition of 42 lakh new accounts in December is 50% higher than what was seen in the month of November.
Open FlipFor years, there were indications that the government may expand the Production Linked Incentive scheme to toys, bicycles, leather and footwear to give a much-needed boost to manufacturing in these labour-intensive sectors. But, Rajesh Kumar Singh, Secretary of DPIIT, on December 4 said that the focus now is to improve the utilisation of the existing areas under the scheme before expanding it.
Open FlipL&T Finance Holdings on January 4 said retail loan book in October-December quarter of financial year 2023-24 is estimated to grow 31 percent on-year to Rs 74,750 crore. The retail disbursements is estimated to grow about 25 percent on- year in October-December quarter to Rs 14,500 crore, release said.
Open FlipSebi on Thursday said Govindayapalli Ram Mohan Rao has taken charge as an executive director and will handle the departments of investigation and internal inspection. Earlier, Rao was the regional director of the eastern regional office of Sebi (Securities and Exchange Board of India).
Open FlipGerman luxury carmaker Audi on Friday reported 89 per cent growth in retail sales in India at 7,931 units last year as compared with 2022. The company had sold a total of 4,187 units in 2022. The sales growth last year was mainly driven by new launches -- Q3 Sportback, Q8 e-tron, and Q8 Sportback e-tron -- along with continued demand for the A4, A6, and Q5. Besides, top-end models.
Open FlipThe government’s subsidy bill is likely to see an uptick in the upcoming Union Budget for the financial year 2024-25 due to the expansion of the Centre’s free food programme and enhanced support under the Pradhan Mantri Ujjwala Yojana (PMUY). Subsidies are a type of support given by the government to particular groups to reduce the purchase cost and provide food or social security to the poor.
Open FlipThe Finance Bill is one of the key budget documents. It contains the government’s financial plans, like taxation, revenue, expenditure and borrowings, for a particular financial year. It provides legislative backing to the tax proposals made by the government in the Union Budget. Proposals about modifications to the tax slabs, tax rates and exemptions are made in the Finance Bill.
Open FlipGrasim Industries Ltd has set the price band for its rights issue at Rs 1,812 per share, the record date for which is Wednesday, January 10. The company will raise Rs 3,999.80 crore through this rights issue, which will open on Wednesday, January 17 and close on Mon, January 29. Shares of Grasim Industries closed at Rs 2,070.20 on the NSE on Thursday, down 0.1% from the previous close.
Open FlipApple fell further on Thursday, losing about $176 billion since the start of the year, after Piper Sandler became the second brokerage this week to downgrade the stock on worries of tepid demand for its products, including the iPhone. The company's shares dropped 1.7% to an eight-week low of $181.20 on Thursday. If the losses hold, Apple stands to lose $47.4 billion of its value for the day.
Open FlipMaker for Tejas fighter aircraft Hindustan Aeronautics (HAL) saw its market capitalisation cross the Rs 2 lakh crore mark for the first time on Friday after the stock rallied 6% in trade today to its fresh 52-week high level.HAL stock hit a new 52-week high of Rs 3,078.8 in today's trade, backed by heavy volumes on the NSE.
Open FlipShares of Century Textiles and Industries have surged over 20% in two sessions after the Aditya Birla Group company informed exchanges about a clutch of investors visiting its flagship real estate project 'Birla Niyaara' on Thursday.The Worli, Mumbai-located real estate property is a 77-storey tower with 9.1 lakh square feet of development.
Open FlipTop Canadian investor Brookfield Asset Management is in the final stages of negotiations to acquire a 100 percent stake in ATC India, a unit of the US-based telecom tower major American Towers Corporation ( ATC), multiple industry sources told Moneycontrol. Media reports earlier in the year had named US private equity firm I Squared Capital as a front-runner to acquire ATC's India unit.
Open FlipVodafone Idea Limited (VIL) announced on January 4 that it has been served with an order under the Central Goods and Services Tax Act, 2017, imposing a penalty of Rs 10.76 crore. The telecom company expressed its disagreement with the order and stated its intention to seek rectification and reversal.
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