Manchester United fell deeper into the red in the third financial quarter of a tough season, with the English Premier League club confirming job losses on Wednesday and an increase in ticket prices.
Tata Elxsi Q1 Results: Revenue from operations for the reporting period grew by 9% year-on-year, reaching Rs 926 crore compared to Rs 850 crore in the same period last year. Sequentially, net profit for the quarter dropped by 6% from Rs 196 crore in the preceding December quarter. However, revenues increased by 2% quarter-on-quarter. Total expenses for the first quarter rose by 13% year-on-year to Rs 706 crore, compared to Rs 624 crore in the same quarter last year.
ELSS funds and focused funds saw outflows of Rs 445 crore and Rs 286 crore, respectively, in June.
Eton Solutions announced Catamaran Ventures, associated with NR Narayana Murthy, as the first Indian user of its AtlasFive platform, managing $781 billion for 665 families globally. Deepak Padaki praised AtlasFive's efficiency. Eton, with 300 Bengaluru employees, plans a new GIFT City tech center. Satyen Patel cited India's financial emergence. Founded by Robert Mallernee, its international HQ is in Singapore.
Israel's Defence Minister Yoav Gallant reported that 60% of Hamas fighters have been "eliminated or wounded" since the conflict began with Hamas's October 7 attacks. Speaking in parliament, Gallant reiterated Israel's commitment to its war objectives of eradicating Hamas and securing the return of all hostages from Gaza. He praised Israeli soldiers for their dedication and success in operations, noting significant achievements including the dismantling of most of Hamas's 24 battalions. Israel continues... Читать дальше...
India, leveraging skilled manpower and accelerated computing, can become the intelligence capital, said Vishal Dhupar of Nvidia. Nvidia aims to build sovereign AI infrastructure, moving India to the global front office. At an event on purpose-built PCs with Nvidia GPUs, Dhupar emphasized improvements in AI multimodality, cost-efficient GPUs, and software optimisation for harnessing capabilities from text to DNA.
On Wednesday, several stocks reached new record highs. Maruti Suzuki India, despite paring gains, closed slightly lower. Computer Age Management Services rose by over 2%, while Britannia Industries ended the day with gains exceeding 1%.
The financial performance of roads and construction companies in the June 2024 quarter is expected to remain muted due to delay in obtaining clearances related to acquisition of land parcels, severe heat wave across various parts of the country, and slack in construction activities amid the general elections held during the quarte
Lionel Messi has dropped a major hint around his retirement after Argentina reached the finals of the Copa America 2024, defeating Canada convincingly by a 2-goal difference. Messi, who scored a goal in the 51st minute of the game, stated that these were his 'last battles' for the Argentina national football team.
State Bank of India on Wednesday raised Rs 10,000 crore through the issuance of infrastructure bonds, while two other public sector lenders – Canara Bank and Bank of India – are likely to tap the debt market next week to raise a total of up to Rs 15,000 crore through the same instrument.
The Congress accused the government of harming MSMEs and the economy, citing a report by India Ratings. They blamed PM Modi for the negative impact of demonetisation, GST, and the lockdown. The report showed a decline in the unorganised sector, job losses, and reduced manufacturing jobs. The Congress proposed solutions to revive the informal sector and criticized the government's policies.
Louis Dreyfus Company (LDC) has relaunched its edible oil brand 'Vibhor' in North India's business-to-consumer segment. The new product line includes soybean, palmolein, cotton seed, and mustard oils, as well as premium vanaspati, enriched with vitamins A and D. LDC aims to expand its distribution network in Punjab, Haryana, Delhi, and Uttar Pradesh, leveraging its Kandla processing unit's 3,50,000-tonne annual capacity. The edible oils will be available in various packaging sizes from 500 grams to 15 kilograms. Читать дальше...
Karnataka Chief Minister Siddaramaiah has announced that the State Cabinet will decide on the proposal to rename the neighbouring Ramanagara district as 'Bengaluru South'. The proposal, which includes Ramanagara, Magadi, Kanakapura, Channapatna, and Harohalli taluks, has gained momentum, with a delegation led by Karnataka Deputy Chief Minister D K Shivakumar meeting Siddaramaiah and submitting a memorandum. The proposal also proposes that Ramanagara town, about 50 kms away, remain as the district's headquarters.
Two days after the ambush in Jammu and Kashmir's Kathua district that killed five army personnel, officials are piecing together the events. Heavily armed terrorists attacked the 22 Garhwal regiment's convoy, but the jawans fired over 5,100 rounds to protect their injured colleagues and repel the terrorists. Despite injuries, soldiers like Rifleman Kartik Singh continued fighting. The ambush, claimed by the Kashmir Tigers, marks an escalation in violence. Security forces are conducting extensive... Читать дальше...
Telecom companies in India are advocating for a 50% reduction in the reserve price of newly identified high-frequency spectrum ranges in the 40GHz band, citing the high costs associated with building networks in these bands compared to lower frequency bands. This proposal comes ahead of India's first auction of mmWave spectrum for 5G services, encompassing frequency ranges critical for mobility and satellite communications.
Aryaag will utilise the capital to expand the firm’s market share and enhance profitability. The funding will also be directed towards forging partnerships to enhance Package of Practices (PoP) on farms and implementing initiatives to minimise food loss throughout the supply chain.
Commercial vehicle sales volume is expected to decline by 3-6 per cent in the current fiscal year due to a slump in demand, as reported by CareEdge Ratings. The slowdown is attributed to reduced demand in both the medium, heavy commercial, and light commercial vehicle segments, alongside high inventory levels with dealers.
Budget 2024 expectations: The abolition of dividend distribution tax has affected taxpayers in India. Resident shareholders are now taxed on dividends at their income tax slab rates, leading to a higher effective tax burden compared to the previous system. Such dual taxation distorts investment decisions as it incentivises companies to retain earnings rather than distribute them as dividends. To address this challenges, rationalisation of the tax treatment of dividends is crucial. Here's how Budget 2024 should address it.
Tesla's dominance in the U.S. electric vehicle market slipped below 50% in Q2 as sales surged to a record. Tesla's market share dropped to 49.7% from 59.3% a year earlier, losing ground to GM, Ford, Hyundai, and Kia. Overall U.S. EV sales rose 11.3% year-over-year, with over 330,000 electric vehicles sold in Q2, accounting for 8% of new car sales.
The National Testing Agency (NTA) has submitted an affidavit to the Supreme Court regarding the NEET-UG 2024 exam, addressing allegations of malpractice. The NTA identified potential issues at centers in Godhra and Patna but assessed the overall impact on the examination's integrity.
Biden's efforts to dig in were showing signs of initial success. On Tuesday, some Democratic leaders in Congress expressed support for the president and said it was time to move on.
Bihar Chief Minister Nitish Kumar, at a function for the dedication of the "JP Ganga Path" expressway in Patna, expressed frustration over delays in a road project, offering to touch a private company representative's feet to hasten progress. The official, taken aback, rejected the gesture, leading to a social media buzz and criticism from the opposition, with Tejashwi Yadav calling Kumar "lachaar" (powerless) for his actions.
HSBC Holdings Plc is restructuring its investment bank to align more closely with competitors like Citigroup Inc. The revamp involves consolidating sector teams, increasing focus on innovation and sustainability. Executives aim to enhance efficiency and flexibility for growth. As global interest rates decline, HSBC is adjusting its investment banking division strategies, including cost-cutting measures and emphasizing client service.
