BUSINESS
'Inability to pass on soaring input cost to dent Q4FY22 corp profitability'
As per a Crisil Research's analysis of over 300 companies, corporate profitability, or the average Ebitda (earnings before interest, taxes, depreciation and amortisation) margin, likely declined by 200-300 basis points (bps) on-year and 40-60 bps sequentially in the fourth quarter (Q4) of fiscal 2022. This marks the second on-year decline in 12 quarters, it said.
TCS' Q4FY22 net profit up over 7% at Rs 9,926 cr
The company's net profit for the quarter under review rose to Rs 9,926 crore from Rs 9,246 crore for Q4FY21. Consolidated revenue during the period under review rose by 16.3 per cent YoY to Rs 5,059.1 crore from Rs 4,370.5 crore. In terms of full fiscal FY22, the IT major's consolidated net profit fell on a YoY basis.
RBI to restore regulated markets' trading hours to pre-pandemic timings
The opening time for regulated financial markets will be restored to their pre-pandemic timing of 9 a.m., an RBI statement said. The trading hours for various markets regulated by the Reserve Bank were amended effective from April 7, 2020 in view of the operational dislocations and elevated levels of health risks posed by Covid-19. Subsequently, with abatement of operational constraints, the trading hours were partially restored with effect from November 9, 2020.
Pakistan stocks make history with biggest single day gain
The bulls dominated trading at the Pakistan Stock Exchange (PSX) on Monday as the benchmark KSE-100 index rallied, reaching new records by gaining 1,700 points on the back of easing political turmoil. A report from Topline Securities noted that PSX made history with the KSE-100 index posting a record single-day gain in terms of index points.
Shares of Bharat Dynamics doubled in 2022 over 'Atma Nirbhar' push
The shares price rose over 96 per cent in the year-to-date period of 2022, exchange data showed. The company, which is under the Defence Ministry, manufactures surface to air missiles, anti-tank guided missiles, torpedoes, and allied defence equipments. The Centre's 'Atmanirbhar' push on indigenous defence manufacturing likely to have supported the company's shares.
General insurers close FY22 with 11% growth
According to it, the general insurance industry had earned a total premium of Rs 220,634.73 crore as against Rs 198,714.72 crore earned during 2020-21. Within the overall figure, the standalone health insurers earned Rs 20,880.08 crore in FY22 up from Rs 15,755.18 crore in FY21.
Shares of Adani Group cos surge after $2 bn foreign investments
Adani Green Energy shares were locked in the 20 per cent upper circuit, Adani Transmission locked in at 10 per cent upper circuit, and Adani Enterprises rose 0.4 per cent. Analysts attribute the rise in share prices with International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate's investment of $2 billion as primary capital in these Adani Group companies.
Equity indices start new week in red; Q4 earnings in focus
Sensex settled at 58,964.57 points, down 482.61 points or 0.81 per cent, whereas Nifty rested at 17,674.95 points, down 109.40 points or 0.62 per cent. Among the sectoral indices, Nifty was the top loser, declining 1.41 per cent on Monday.
Sri Lanka facing worst economic crisis since gaining independence in 1948
Sri Lanka's problems come down to the fact that its foreign currency reserves have virtually run dry. It means the island nation cannot afford to pay for imports of staple foods and fuel, leading to acute shortages and very high prices. The government blames the pandemic, which all but killed off Sri Lanka's tourist trade, one of the island's biggest foreign currency earners
Goldman Sachs says 22% upside in RIL stock
RIL is adopting a manufacturing approach to net zero-emissions with a hyper integrated model spanning solar, battery and hydrogen and a focus on net zero supply chain (already spent $1.5 billion to acquire technologies across the solar, battery and hydrogen ecosystems).
Don't Miss
Advertisement