Stocks on Wall Street are slumping alongside bond yields on Thursday after more signals suggested the U.S. economy’s growth is slowing. The S&P 500 was down 1.4% in midday trading after weak data on U.S. manufacturing helped extinguish a morning rally of 0.8%. The Dow Jones Industrial Average was down 1.42%, and the Nasdaq composite…
Domestic volume growth aided by improvement in rural market and international business to lead FMCG company Dabur India‘s revenue growth in the first quarter. Revenue for the April-June 2024 period is likely to rise 6% year-on-year, according to an average estimate of four brokerages. Net profit is also seen rising 6% year-on-year. Domestic volumes during…
Apollo Hospitals on Thursday reported a 76% year-on-year (YoY) jump in net profit to Rs 254 crore in Q4FY24, led by growth across the hospital, diagnostics, speciality and pharmacies businesses. The company reported a net profit of Rs 145 crore in the corresponding quarter of the previous year. Revenue grew 15% YoY to Rs.4,944 crore…
Global private equity firm General Atlantic Singapore is likely to sell up to 6.8% equity in KFin Technologies at an estimated floor price of Rs 712.5 per share, which is a 4% discount. The total deal size, including the green shoe option, is 1.17 crore, moneycontrol.com reported, citing CNBC TV18. The base issue size is…
Birla Group Holdings Private Limited (BGHPL), a promoter of Grasim Industries, has raised its stake by 4.09% in the company according to an exchange filing by the company on Tuesday. BGHPL‘s holding in the company has gone up to 23.18% now from Rs 19.10% at the end of the March quarter. The additional 4.09% stake…
Glenmark Pharma on Wednesday reported a net loss of Rs 121 crore in the fourth quarter ended March 31, 2024, due to declining sales in the US and exceptional items. The drugmaker reported a net loss of Rs 34.5 crore in the corresponding quarter of the previous year. Revenue was at Rs. 3063 crore as…
SaaS fintech platform Zaggle Prepaid Ocean Services on Thursday said its consolidated net profit more than doubled to Rs 19.15 crore in the March 2024 quarter. The company had reported a net profit of Rs 7.56 crore in the year-ago period, according to a regulatory filing. During the quarter under review, the company’s operating revenue…
Grasim, a part of the Aditya Birla Group, on Wednesday reported 39% growth in its consolidated net profit to Rs 1,908 crore for the quarter ended March 2024, excluding exceptional items. The same stood at Rs 1,369 crore in the last year quarter. Revenue from operations increased 13% year-on-year to Rs 37,727 crore in the…
Indian generic injectables maker Gland Pharma reported fourth-quarter profit below estimates on Wednesday, as soaring employee expenses outweighed strong demand in its core markets. It reported a consolidated net profit of 1.92 billion rupees ($23 million) for the quarter ended March 31, missing analysts’ average estimate of 2.41 billion rupees as per LSEG data. In…