Colgate-Palmolive (India) received a Rs 170 crore Transfer Pricing Order from the Income Tax authorities for the 2021-22 financial year, relating to pricing of cross-border transactions between two related entities. The company will take this before the Dispute Resolution Panel and stated that there's no impact on its financial and operations due to this order.

Castrol India on Oct 30 reported a 4% profit increase to Rs 194 crore for July-Sept 2023 over the same period last year. Revenue from operations was lower at Rs 1,121 crore due to global uncertainties such as inflation and unrest in the Middle East impacting volatile crude prices. Sandeep Sangwan, Managing Director, said Castrol aims to lead industry trends by focusing on strategic expansion.

Siemens Energy is mulling potentially selling a part of its 24% stake in Siemens Ltd to former parent Siemens AG as a method of improving its balance sheet. This comes after news of talks between Siemens Energy and the German government, banks and Siemens over guarantee performance bonds and post-sale of Trench high voltage component division to Triton.

Q3 gold demand in India, the world's second-largest consumer of gold, rose 10%, spurred by record-high domestic prices softening and increased demand due to the upcoming festivals and wedding season. Jewellery demand was up 7% year-over-year and bar/coin investment hit a high not seen since 2015.

The RBI has allowed DCCBs to close un-remunerative branches without prior permission. The decision must be taken by the Board, after adhering to specific procedures, and all depositors/clients must be informed in advance. Original licences must be returned back to the Regional Office concerned and restrictions imposed on the bank won't allow closure.

Mindspace REIT announced a 17.7% YOY increase in net operating income (NOI) for Q2 FY24, with a 20.6% growth in revenue from operations. Accompanied by Rs 150 crore in profit after tax (vs 87 crore in the same quarter of the previous year), the company reported 0.8 million sqft in gross leasing and declared distribution of Rs 284 crore or Rs 4.79 per unit to unit holders.

KPIT Technologies shares surged 6% to a 52-week high of Rs. 1,254 in Tuesday's trade to hit its target price of Rs. 1,108, and is trading above all the 5, 10, 20, 30, 50, 100, 150 and 200-day simple moving averages. Following their second quarter reporting, the company recorded a 69.21% YOY increase in net profit, as well as a 60.23% increase in revenue.

Global gold demand dropped 6% to 1,147.5t in Q3 2023 due to sluggish demand for bars/coins & from central banks. Chinese demand rose marginally; India rose 10%. Pakistan's fell 11%; Sri Lanka's rose substantially. Jewelry demand declined worldwide; investment demand anaemic. Technology lessened 3%, gold buying by central banks fell 27%. Total gold supply increased 6%.

Securities Appellate Tribunal on Oct 30 quashed Sebi's order barring Punit Goenka from holding key managerial posts in ZEEL and other group firms. The tribunal noted the scheme involved using 13 entities as pass-throughs, but found that no evidence shown yet to indicate any diversion of funds and an ad-interim order was unwarranted.

Tube Investments of India Ltd, part of the Murugappa Group, is setting up a greenfield precision steel tube manufacturing facility at an estimated cost of Rs 211 crore. Funding will be through internal accruals and the project is expected to be completed in FY2024-25. Q2&H1 2023 results show standalone PAT at Rs 181.44 crore & Rs 329.13 crore respectively.

SIS Ltd saw its net profit rise by 11.6% in Q2, with revenues rising 11%. Operating profit improved by 31.6% and cash logistics segment saw a strong revenue growth of 22%. They've crossed the Rs 1,00-crore monthly revenue milestone and are now evaluating options to unlock shareholder value.

HCCB, Coca-Cola's bottling arm in India, reported a net profit of Rs. 809.32 crore in FY23 and income of Rs. 12,840.39 crore. Total operating expenses rose to Rs 11,191.26 crore and the company is focusing on expanding market reach and adapting to consumer needs. The long-term outlook for beverage business in India is positive.

The US Federal Reserve's two day monetary policy meeting is expected to leave interest rates unchanged for the second time. Consumer prices rose 0.4% in Sep, higher than expectations. Real GDP growth was 4.9%. Bond yields have jumped by 58 basis points and the dollar gained 1%. The Fed's assessment of the economy and outlook on inflation will be key factors in market moves.

Chipmaker Onsemi forecast a tepid fourth quarter and cut about 900 jobs, sparking fears that weak electric vehicle (EV) demand has begun to hurt orders for its chips from the auto sector and sending its shares tumbling 18.3% on Monday.The company, whose clients include European automaker Volkswagen, supplies chips that go into drive trains of electric cars.

Oil prices have a deep impact on India's economy, affecting both day-to-day life of citizens and strategic decisions of businesses. High oil prices can deplete Foreign Exchange Reserves, leading to an increase in spending and devaluation of the rupee, resulting in costly imports and transportation costs. When global prices fall, paint, tile production, aviation companies benefit.