BUSINESS
Apple iPhones see 68% growth in India in 2023 1st half, to reach 7% market share
In the second quarter (April-June period) alone, there was a strong growth uptick in Apple iPhone shipments and the company registered a stupendous 70 per cent growth in shipments in the country, according o data provided by CyberMedia Research (CMR).
Sensex sheds 1000 points dragged down by Infosys, HUL, RIL
IT heavyweights led by Infosys, HUL and Reliance Industries dragged the Sensex down to a sharp fall of more than 1,000 points on Friday.
Russia's external debt-to-GDP ratio falls to historic low
Russian's external debt-to-GDP ratio plummeted to a historic low of 15 per cent by the end of the first quarter, local media said on Friday.
Infosys leads fall in Indian indices, 2nd most expensive market after US
V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services said even though Nifty is at a kissing distance of the psychological 20,000 mark, Infosys can turn out to be the slip between the cup and the lip. Infosys' poor guidance of 1 to 3.5 per cent revenue growth guidance for FY 24 will drag the stock down and, perhaps, Nifty with it since Infosys has a 5.9 per cent weightage in the index.
Investors closes in on acquiring CoinDesk for $125 mn: Report
CoinDesk is currently owned by crypto conglomerate Digital Currency Group (DCG), which acquired it in 2016. According to the Wall Street Journal, a group led by blockchain investors Matthew Roszak of Tally Capital and Peter Vessenes of Capital6 are "nearing a $125 million deal for CoinDesk".
Weak Q1 results by Infosys, HUL drag down Sensex by 800 points
Domestic volume growth, at 3 per cent, was below our estimate. We note volume growth was impacted as trade reduced stock levels (1-3 days) in lieu of price cuts. In home care, fabric wash grew in double digits, led by the premium portfolio while household care too grew in double digits (volume-led), driven by outperformance in dishwash, the report said.
Infosys reports Q1 year on year revenue growth of 4.2%
Large deal TCV for the quarter was at $2.3 billion, with net new of 56.1 per cent. Operating margin for the quarter was stable at 20.8 per cent. ROE improved 180 bps to 32.8 per cent. Attrition declined further to 17.3 per cent. FY24 revenue guidance revised to 1.0 per cent-3.5 per cent and operating margin guidance retained at 20 per cent-22 per cent.
Bill Gates not engaged to Paula Hurd despite wearing ring: Microsoft billionaire's rep
Rumours of engagement recently occurred after Hurd was photographed wearing a piece of jewellery on her ring finger while out with Gates, 67, in the US, reports People magazine. According to a spokesperson for the Microsoft co-founder, Hurd has had the ring for a long time and it does not represent an engagement.
Infosys ADR sinks more than 9 per cent after Q1 results
The Infosys ADR was trading at $16.07. Analysts are concerned at the profit miss and sharp lowering of revenue guidance in Infosys Q1 results. IT major Wipro’s ADR also went down by 3.5 per cent on Thursday. Infosys delivered $4,617 million in Q1 revenues with year-on-year growth of 4.2 per cent and sequential growth of 1.0 per cent in constant currency.
India's growth trend expected to soften from Sept quarter
Capex growth has largely held up on higher government (Centre and state) capex and strong demand for residential real estate. However, the pick-up in private corporate capex remains gradual on weak goods export demand and global growth uncertainty. Finally, while India's goods exports have contracted for the past five months, services exports have remained largely stable, it said.
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