International Business Machines Corp. cut its full-year sales outlook, including for its closely watched software unit, after reporting a dip in demand for its mainframe business. Revenue will increase 4% to 5% this year, down from a prior outlook of more than 5%, the company said Wednesday in a statement. Software unit annual sales will…
Pharma company Zydus Lifesciences Ltd on Saturday (July 25) said some operations at its facilities in the Ahmedabad zone were temporarily suspended due to torrential rain and waterlogging. “We hereby inform that due to torrential rain and waterlogging in Ahmedabad for the last two days, as a precautionary measure, some of the operations had been…
The Indian rupee opened 8 paise higher against the US dollar on Thursday (July 23), even as rising crude oil prices and escalating geopolitical tensions in the West Asia continued to weigh on sentiment. The domestic currency opened at 96.49 per US dollar, compared with Wednesday’s (July 22’s) closing level of 96.57, recovering 8 paise…
Sarda Energy and Minerals Ltd on Saturday (July 25) said its wholly owned subsidiary Sarda Metals & Alloys Ltd has approved a ₹300 crore capital expenditure plan for a waste heat recovery power plant and expansion of its mineral wool manufacturing facility. “This is to inform that the Board of Directors of Sarda Metals &…
IDFC FIRST Bank has reported its performance for the June quarter on Saturday. As per the results, the company’s standalone net profit has doubled to Rs 1,075 crore from Rs 463 crore. The lender’s net interest income (NII) climbed 21.1% YoY to Rs 5,972 crore, while operating profit increased 14% to Rs 2,553 crore. Total…
Shares of IndusInd Bank Ltd. fell as much as 6% in response to their June quarter results on Thursday, July 23. The results were reported after market hours on Wednesday. Despite reporting better-than-feared results, more analysts have a “sell” rating on the stock compared to “buy”. 16 out of the 42 analysts covering the Mumbai-based…
IDFC First Bank reported its first quarter earnings on Saturday, July 25. The lender’s net profit more than doubled to ₹1,075 crore from ₹465 crore in the year-ago period. Its net interest income (NII) in the first quarter increased 21.1% to ₹5,972.3 crore from ₹4,933 crore last year. The lender’s asset quality improved as well….
Shares of Hindustan Petroleum Corp Ltd. declined up to 3% on Thursday, July 23, after fuel and LPG retailing losses impacted its first quarter earnings. The company reported a loss of over ₹11,000 crore. However, the same was lower than estimates, which stood at ₹13,680 crore. Its revenue growth remained healthy as it increased by…
Shares of Eternal are fluctuating between gains and losses on Thursday, July 23, a day after the company’s June-quarter results, which were a mixed bag. However, the results prompted brokerages to reiterate their bullish stance, with CLSA seeing nearly 75% upside on the stock following strong growth in both food delivery and quick commerce. Eternal…
Shares of Nestle India fell more than 2% on Thursday, July 23, after the fast-moving consumer goods (FMCG) major reported another quarter of better-than-expected earnings for the June quarter. However, despite the strong earnings performance, the growth vs valuation debate has split the 40 analysts who track the company right down the middle. Citi sees…
