FY24 FINANCIAL RESULTS
Revenue of railway sector companies expected to grow at moderate pace of 5% in FY26: ICRA
ICRA projects a moderate 5% revenue growth for Indian railway sector companies in FY26, fueled by strong wagon manufacturing demand. While wagon manufacturers are expected to thrive, construction firms may experience slower growth. Despite this, the sector's profitability is anticipated to remain robust, supported by operating leverage and stable input prices, with government investments playing a crucial role.
Diamond exports plunge 17% in FY25 amid global headwinds
India's gem and jewellery exports faced a significant downturn in FY25, dropping 11.72% to $28.5 billion, primarily due to geopolitical tensions, a slowing US economy, and China's withdrawal from diamond purchases. Cut and polished diamond exports saw a sharp 16.75% decline. The industry is now seeking tariff relief from the US to mitigate potential trade disruptions and revive exports.
'Factually incorrect': Dr Reddy's denies 25% workforce cost reduction claim
Dr. Reddy's Laboratories has refuted a media report alleging a significant workforce cost reduction initiative. The report claimed the company aimed to cut manpower expenses by 25%, prompting high-salaried employees, including those earning over ?1 crore annually, to resign. Voluntary retirement was also reportedly offered to R&D employees aged 50-55, but the company denies these claims.
Indian Railways betters operating ratio to 98.32% for fiscal 2024-25; non-fare revenue tops Rs 11,000 cr
Indian Railways showcased a slightly improved operating ratio of 98.32% for fiscal year 2024-25, with total earnings reaching Rs 2.65 lakh crore. Passenger revenue increased by 6.4%, while freight income saw a 1.7% rise.
Hero Motocorp retains top slot in two-wheeler space in FY25; ends year with 29 pc market share
Hero MotoCorp led two-wheeler retail sales with over 54 lakh units, securing a 28.84% market share, while Honda followed with over 47.89 lakh units. Maruti Suzuki dominated passenger vehicle sales with 16.71 lakh units and a 40.25% market share. Overall auto retail sales in India increased by 6%, driven by strong rural performance in both two-wheeler and passenger vehicle segments.
FY25 has been better than FY24 for TCS as promised; confident FY26 will also be better than FY25: K Krithivasan
TCS reported strong FY2025 performance, exceeding FY2024, with confidence in surpassing it in FY2026, fueled by a robust $12.2 billion order book. While sequential margins saw a slight dip due to strategic investments, the company remains optimistic about growth, particularly in BFSI and Europe, aspiring for double-digit expansion despite macro challenges and uncertainties.
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Mutual fund SIP stoppage ratio jumps to 128% in March; 51 lakh folios closed
India's mutual fund SIP stoppage ratio rose to 128.27% in March from 122.76% in February, as 51.55 lakh SIPs were discontinued or completed while only 40.19 lakh new SIPs were initiated. FY25's stoppage ratio stands at 75.63%, up from 52.41% in FY24, indicating cautious investor sentiment and increased portfolio reshuffling despite stable inflows.
NTPC revises thermal capacity addition target to 30,000 MW by 2032
NTPC Group has increased its thermal capacity addition target to 30,000 MW by 2031-32, up from the earlier plan of 26,000 MW by 2030-31. The company aims to add 3,580 MW of thermal capacity in FY26 and is also focusing on expanding its renewable energy portfolio, targeting 60 GW by 2032, alongside boosting coal production from its captive mines.
Loan pool sales surge as banks embrace securitisation to tackle credit-deposit ratio pressures
Private sector banks spearheaded loan pool sales in fiscal year 2024-25, driving securitization volume to a record high of Rs 2.35 lakh crore. This surge represents a 24% year-on-year increase. While overall performance was strong, the fourth quarter saw a dip due to reduced NBFC disbursements amid unsecured loan segment stress.
PMS Tracker FY25: 18 funds gain up to 54%, worst performers shed over 27%
PMS strategies: In FY25, 18 PMS strategies posted over 20% gains, with InCred’s Focused Healthcare Portfolio topping at 53.6%. Healthcare and smallcap strategies dominated, while multicap and largecap strategies also saw solid returns. However, some multi-asset and multicap funds recorded steep losses, with SKG India Value falling over 27%. March ended with mixed performance, as 20 PMSes gained over 10%, while 8 ended negative.
Stocks to buy today: Centrum upgrades TCS post Q4 results; Motilal initiates coverage on HAL
Centrum has raised its rating on Tata Consultancy Services (TCS) to ‘Buy’ and adjusted the target price to Rs 4,211 from Rs 4,058, suggesting a 29% upside from the current market price of Rs 3,246.
TCS shares under pressure after weak Q4 results, target price cuts. Should you buy, sell or hold?
TCS share price: Centrum has upgraded Tata Consultancy Services (TCS) to a ‘Buy’ rating, revising its target price to ?4,211 from ?4,589, based on a 25x multiple of FY27E EPS. While the brokerage highlighted near-term headwinds such as macroeconomic and geopolitical uncertainties.
India's electronics manufacturing value addition jumps to 70%, set to reach 90% by FY27
India is rapidly emerging as a global manufacturing hub, particularly in electronics, driven by supportive government policies and a skilled workforce. Value addition in electronics manufacturing has significantly increased, with projections indicating further growth. Mobile phone exports have surged, and the country is reducing its reliance on imports while boosting local production of key components.
Adani Energy Solutions' transmission network length rises 30 pc to 26,696 ckm in Mar qtr
Adani Energy Solutions Ltd reported a 30% increase in its transmission network length, reaching 26,696 circuit kilometers due to new order wins. The company secured two new transmission projects, Navinal (Mundra) Phase I Part-B 1 and Mahan Transmission, totaling Rs 5,000 crore.
TCS reverses headcount to add 625 employees in Q4, 6,433 in full year FY25
For the full year, the Tata subsdiary’s employee count was higher by 6433 taking the total workforce at the end of March this year at 607,979 from 6,01,546 at the end of March last year. In FY24, TCS’s headcount drop of 13,249 employees was its first annual decline in 19 years since it was publicly listed in 2004.
DTH players urge government to act on TRAI suggestion to scrap licence fee
The DTH sector in India is still waiting for clarity from the MIB on TRAI’s proposal to reduce and eventually eliminate the 8% licence fee. TRAI has twice recommended slashing it to 3% and phasing it out by FY27, citing competition from DD Free Dish and OTT platforms. While Airtel, Tata Play, and Dish TV support the move, Reliance Jio opposes it, arguing DTH operators enjoy spectrum without paying market rates.
Chennai Super Kings: How the IPL juggernaut gave state-owned LIC a 6x return
Chennai Super Kings' on-field dominance in the IPL has translated to significant financial gains, including a surge in its unlisted market value. The franchise's stock has risen substantially, driven by consistent playoff appearances, title wins, and robust financial growth, with a notable increase in PAT and central pool income.
Coal India's contribution to government exchequer drops 5% to Rs 5,833 cr in March
Coal India Ltd paid ?5,832.69 crore to the government in March, down 4.7% year-on-year. Its FY25 total stood at ?60,959.52 crore, up 1.2%. Jharkhand, Odisha, MP and Chhattisgarh received the most. CIL’s FY25 output was 781.1 MT, below target, but up 1% from last year.
Trump tariffs rattle markets but Q4 earnings could be the real wrecking ball for Nifty bulls
Amidst tariff concerns, Dalal Street faces a bigger challenge: weak corporate earnings. Q4 results are expected to show minimal growth, continuing the trend from previous quarters. While some sectors like metals and healthcare may perform well, banking and financial services could see declines. Uncertainty looms over FY26 earnings growth due to global economic factors.
64% OF MSMEs resume activity post pandemic; 54% report 10% YoY growth: Report
The UGRO Capital-Dun & Bradstreet report indicates that 64% of MSMEs in India have bounced back post-pandemic, with over half experiencing significant growth. However, investment growth in Udyam-registered MSMEs has slowed.
ET Graphics: BJP receives most donations
Ahead of the 2024 Lok Sabha elections, the BJP continues to dominate in political donations, receiving the largest share, while the Congress trails far behind. The AAP experienced a significant 70% decrease in donations following their Delhi ouster. Prudent Electoral Trust remains a major donor, contributing heavily to both the BJP and Congress.
Big gains for Jio, bumps for rivals likely in Q4
Reliance Jio is projected to lead in revenue growth for fiscal Q4, driven by strong customer acquisition and the delayed impact of previous rate increases. In contrast, Airtel anticipates a slight decrease in mobile service revenue after a period of consistent growth. Vodafone Idea's revenue is expected to decline due to ongoing customer attrition.
Lenders add nearly 25,000 beneficiaries under Tarun Plus category of Mudra Yojana
Lenders have added about 25,000 beneficiaries under the Tarun Plus category of PM Mudra Yojana in FY25, providing enhanced loans up to Rs 20 lakh. This initiative doubled the loan limit for successful previous borrowers and saw 24,557 new loans sanctioned amounting to Rs 3,790 crore in just four months.
BJP tops list of national parties with over Rs 2,243 crore in donations in FY 2023-24: ADR
In FY 2023-24, BJP received over Rs 2,243 crore in large donations, dominating national party contributions with 88% of the total. Corporate and business sectors were the primary donors. The Congress followed distantly, and the ADR called for stricter enforcement of disclosure norms.
JLR sales up 1 pc in fourth quarter; reaches zero net debt target in FY25
Jaguar Land Rover, owned by Tata Motors, reported a slight increase of 1.1% in dispatches to dealers in Q4 FY25 despite a decline in China. Annual wholesale volumes remained steady, and the company achieved a net debt zero target, ending the year with net cash positive.
Securitisation volumes jump 24% to hit new record of Rs 2.35 lakh cr in FY25
Securitisation volumes in FY25 rose 24% to reach a record Rs 2.35 lakh crore, powered by significant deals from private sector banks and NBFCs, according to a Crisil report. Key contributors included HDFC Bank, with a surge in banks' share. Major asset classes were vehicle and mortgage loans, while microfinance and gold loans declined.
Q4 results this week: Earnings season to kick off with TCS, Anand Rathi, and more
The Q4FY25 earnings season begins this week with key announcements from TCS, Anand Rathi Wealth, and several mid- and small-cap companies. TCS results on April 10 will be closely watched for sectoral cues. Other firms like BF Utilities, OK Play India, and Padam Cotton Yarns will also release their results, offering insights into performance across sectors.
As consumers drown in debt, is it time for India to allow individuals to go bankrupt?
India's microfinance sector faces rising delinquencies due to household over-indebtedness, with 27% of borrowers taking new loans to repay old ones. A possible solution lies in the Indian Bankruptcy Code, but its personal insolvency provisions remain unnotified, putting additional pressure on already burdened families.
PPF deposit: You can earn this much extra tax free interest on PPF by depositing before April 5
PPF Deposit to earn extra tax-free interest: Currently, PPF investments yield an interest rate of 7.1% per annum. The interest earned is exempt from the tax. However, not many people know the PPF Deposit rule that makes them earn extra tax-free interest. Read on to learn how to use this rule to earn extra tax-free interest.
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