Inflation posing the 'last mile' challenge
Thu, Feb 8, 2024 10:28 PM

Inflation posing the 'last mile' challenge

The RBI's monetary policy review on February 8 emphasized the importance of controlling fiscal deficits, current account deficits, and inflation for overall macro-financial stability. With a positive outlook on economic growth and caution on inflation, the MPC has decided to keep the policy repo rate unchanged at 6.5% and remain focused on reaching the inflation target of 4%.

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NCC Q3 Results: Net profit rise 40% to Rs 220.65 crore on higher execution
Thu, Feb 8, 2024 10:27 PM

NCC Q3 Results: Net profit rise 40% to Rs 220.65 crore on higher execution

NCC Ltd, a construction firm, saw a 40% increase in net profit for Q3, driven by higher execution and revenue of Rs 5,260.1 crore. The company received record order inflows of Rs 26,000 crore in 2022-23 and ended the year with an order book of Rs 50,244 crore. NCC's operating margins fell slightly to 9.61% but it continued to win new orders.

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Agriculture minister launches SARATHI portal for insurance products
Thu, Feb 8, 2024 10:21 PM

Agriculture minister launches SARATHI portal for insurance products

Agriculture Minister Arjun Munda launched three new initiatives aimed at benefitting farmers in India - SARATHI portal for insurance products, Krishi Rakshak portal and helpline for grievance redressal, and a learning material system about agricultural schemes. The minister emphasized the importance of digital technology in transforming India's agriculture sector.

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Zomato's dining and events revenue grows 25% at Rs 73 crore
Thu, Feb 8, 2024 10:21 PM

Zomato's dining and events revenue grows 25% at Rs 73 crore

Zomato's 'going-out' business, which includes dining out and events, saw a 25% growth year-on-year with earnings of Rs 73 crore in the October-December period. The business has expanded to nine cities and now offers ticket-booking services for events. The gross order value for this vertical nearly doubled compared to last year. On a group level, Zomato reported a net profit of Rs 138 crore.

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Slowdown in unsecured lending compounds problems for Paytm
Thu, Feb 8, 2024 10:13 PM

Slowdown in unsecured lending compounds problems for Paytm

Paytm's lending business may suffer as RBI warns against unsecured loans and increases risk weights. This means more capital has to be set aside for personal loans, leading to a slowdown in loan growth. Paytm's decision to scale down its small-ticket postpaid lending business could also impact their revenue. Foreign firms and mutual fund managers fear reputational risk due to regulatory concerns.

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Actis to acquire 4 HAM road assets from Patel Infrastructure
Thu, Feb 8, 2024 10:11 PM

Actis to acquire 4 HAM road assets from Patel Infrastructure

Actis, an emerging markets infrastructure investor, has acquired a portfolio of four Hybrid Annuity Model road assets in India. This is the second roads portfolio acquisition in India for Actis, as they see huge potential in the country's infrastructure sector. The assets are awarded by NHAI and offer fixed revenues with interest rate indexation features.

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Bitcoin hits $45,000, crypto stocks pop
Thu, Feb 8, 2024 10:10 PM

Bitcoin hits $45,000, crypto stocks pop

Bitcoin prices bounced back above $45,000 as excitement over the approval of spot bitcoin ETFs caused prices to surge. Companies with bitcoin exposure such as Riot Blockchain and Marathon Digital saw shares spike higher on renewed momentum. Yahoo Finance Senior Reporter Jared Blikre breaks down the details, providing insights into what's happening in the crypto market.

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Ahead of Market: Things that will decide D-Street action on Friday
Thu, Feb 8, 2024 10:09 PM

Ahead of Market: Things that will decide D-Street action on Friday

Benchmark equity indices, Nifty 50 and S&P BSE Sensex, fell by nearly 1% on Thursday after the Reserve Bank of India kept interest rates unchanged and signaled that rate cuts may not be imminent. The RBI's decision was influenced by inflation remaining above the target and projected to stay so for fiscal 2025. Analysts predict that the market trend could weaken if the Nifty drops below 21,690.

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Dollar gains as jobless claims point to resilient labour market
Thu, Feb 8, 2024 10:05 PM

Dollar gains as jobless claims point to resilient labour market

The dollar strengthened on Thursday as US jobless claims decreased, reinforcing the Federal Reserve's decision to not cut interest rates. The drop in unemployment benefits also reflects a strong labor market. However, there may need to be an improvement in global data for the dollar to weaken. Expectations for a rate cut have decreased, leading to higher US Treasury yields.

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Apple’s Vision Pro headset is being resold for $5,000 overseas
Thu, Feb 8, 2024 10:05 PM

Apple’s Vision Pro headset is being resold for $5,000 overseas

Apple's exclusive release of the Vision Pro headset is creating a resale market where prices have gone far beyond its $3,500 starting price. On various marketplaces, the device is being sold for significantly higher prices, with some sellers even asking for as much as $6,000. Despite the high demand for the device, experts believe that this may not represent typical consumer behavior.

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Attentive Inc. raises $7 million in Series A funding
Thu, Feb 8, 2024 10:04 PM

Attentive Inc. raises $7 million in Series A funding

Attentive, an AI-based SaaS firm, raised $7 million in Series A funding led by Vertex Ventures. The investment will support product development and the company's mission to transform the construction and outdoor services industries. Co-founder and CEO Shiva Dhawan stated that their AI-driven solutions can automate manual workflows and increase productivity.

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NYCB gets third credit downgrade as CRE exposure worries spill to Europe
Thu, Feb 8, 2024 10:03 PM

NYCB gets third credit downgrade as CRE exposure worries spill to Europe

New York Community Bancorp faced its third credit-rating cut due to concerns over its exposure to the struggling commercial real estate market. This also affected lenders in Europe and Asia, with Germany's Deutsche Pfandbriefbank calling it the worst real estate crisis since the financial crisis. NYCB's shares and bonds fell, and there are fears of a global contagion from the CRE sector.

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Dynamatic Tech to make all Airbus A220 door variants in India
Thu, Feb 8, 2024 10:01 PM

Dynamatic Tech to make all Airbus A220 door variants in India

The Indian company Dynamatic Technologies and Airbus have signed a deal for Dynamatic to make all door variants for A220 planes in India. This is the largest contract awarded by Airbus for doors. It is part of a larger trend of planemakers increasing their sourcing from India, with Airbus expected to double its value of parts sourced from the country in the coming years.

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Bandhan Mutual Fund picks Rs 23.31 crore shares in Ashish K. backed company
Thu, Feb 8, 2024 10:00 PM

Bandhan Mutual Fund picks Rs 23.31 crore shares in Ashish K. backed company

Stock exchange data shows bulk deals in several companies: Knowledge Marine & Engineering Works, Megatherm Induction, Kalyan Jewellers India, Indiabulls Housing Finance, Avalon Technologies, Paradeep Phosphates, and Venus Pipes & Tubes. Notable investors involved include Bandhan Mutual Fund, Ashish Kacholia, Goldman Sachs, and HDFC Mutual Fund.

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US stocks open flat with earnings, economic data in focus
Thu, Feb 8, 2024 9:58 PM

US stocks open flat with earnings, economic data in focus

Wall Street's main indexes opened flat on Thursday following earnings reports from Walt Disney and Spirit Airlines, while investors also assessed softer-than-expected jobs data and remarks from policymakers on interest rate cuts. The Dow Jones Industrial Average rose 42.09 points, or 0.1%, at the open to 38,719.45. The S&P 500 opened higher by 1.44 points, or 0.03%, at 4,9993.62.

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