APPLE INDIA EARNINGS REPORT
$300 billion in earnings: This company can hit a $10 trillion market cap and it is not Nvidia
Nvidia is already one of the leading market stocks this time after surpassing even Apple in terms of valuation in the last few weeks. Meanwhile, there is another company that is now capable of hitting the $10 trillion market cap, which is a huge surprise for major market geeks. Should US investors put their money on it?
Pakodas for masses, halwa for chosen few: Congress slams govt over ILO report findings
The Congress criticizes the Indian government, citing an International Labour Organisation report that reveals significant wage inequality in India. The report indicates that the top 10% income earners in India earn 6.8 times more than the bottom 10%, reflecting higher inequality compared to neighboring countries. Congress blames Prime Minister Narendra Modi's economic policies for this disparity.
Entry-level workforce across key sectors to earn better salaries: Report
Entry-level jobs in GCCs and non-tech sectors are growing, with competitive salaries in software development, AI/ML, cybersecurity, data management, and cloud solutions. By 2024-25, salaries in these domains are expected to rise significantly, highlighting the increased demand for tech and non-tech talent. GCCs are leading this trend, followed by IT products and services, and non-tech sectors.
EV maker VinFast narrows Q3 losses, beats revenue estimates on strong demand
?The Haiphong, Vietnam-based company delivered 44,773 cars in the first nine months of 2024, more than 55% of its 80,000 target for the year. About one-fifth of these deliveries were to related parties, the company said.
Q2 earnings shocker: 36 BSE 500 companies report over 50% profit plunge
The September quarter earnings season proved disastrous for India Inc, with 36 BSE 500 companies reporting over 50% profit plunges. Analysts warn the market will react negatively to the continued poor performance, particularly in sectors like auto and banking, where weak consumption demand is evident.
Zomato rallies on Sensex entry; Apple vs CCI explained
Zomato shares rose sharply as the food delivery firm is set to be included in the BSE Sensex. This and more in today¡¯s ETtech Top 5.
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ETtech Explainer: Apple faces setback in CCI antitrust case
The Competition Commission of India (CCI) rejected Apple's plea to halt an antitrust investigation into its App Store practices. The CCI is scrutinizing Apple's alleged abuse of market dominance, impacting developers and users. Apple denies wrongdoing, citing its small market share compared to Android. The CCI's final decision could significantly impact Apple's Indian operations and set a precedent for tech regulation.
Salaries for quick commerce delivery execs higher than food delivery: report
According to a report by Morgan Stanley, the average delivery time for a quick commerce order is 10-15 minutes. This is against 30-40 minutes for food delivery, since the average distance per order is half of food delivery. This faster turnaround helps quick commerce delivery partners to do more deliveries per hour.
Apple's iPhone production touches $10 bn mark in India. Courtesy, PLI
Apple achieved $10 billion in iPhone production in India during April-October 2024. $7 billion worth of iPhones were exported. This represents a 37% increase compared to the same period last year. October 2024 saw over $2 billion in iPhone production. The government's PLI scheme fueled this growth. The scheme has generated significant revenue and jobs.
HG Infra Engineering shares rally 7% after securing Rs 1,110 crore NTPC Project
HG Infra Engineering's shares surged 7% after securing a Rs 1,110 crore project from NTPC for battery energy storage systems. Despite a recent dip in quarterly profits, the company's strong project wins, including a major road upgrade in Gujarat, have boosted investor confidence, with analysts giving a 'Strong Buy' rating and predicting further stock growth.
CCI rejects Apple request to put antitrust report on hold
India's antitrust watchdog, the CCI, is proceeding with its investigation into Apple's business practices. The CCI found that Apple abused its dominant position in the app market. Apple's request to pause the investigation was denied. The CCI has ordered Apple to submit financial records. A final decision on the case is pending.
Nvidia is Wall Street's most valuable company. How it got there, by the numbers
Nvidia surpassed Wall Street predictions, reporting doubled revenue due to high demand for its semiconductors used in AI. The company anticipates further growth. Nvidia's market value reached $3.579 trillion, regaining the top position in the S&P 500. Its data center business revenue surged by 112%. Analysts project Nvidia's revenue to reach $126.5 billion by fiscal year 2025.
Apple India net profit up 23% to Rs 2,746 crore in FY24, revenue rises to Rs 67,152 crore
The company posted a 36% increase in total income to Rs 67,121.6 crore in FY24 from Rs 49,321.8 crore in FY23. "The company's total expenses for the fiscal were reported as Rs 63,397 crore," Tofler said.
Wall St Week Ahead-Nvidia results in focus as stock market's election boost stalls
Nvidia's upcoming earnings report is poised to significantly influence the U.S. stock market, as investors seek direction following the recent election rally. The company's dominant position in AI and strong projected growth are expected to impact tech stocks and overall market sentiment.
India Inc fares well in Sept quarter, minus oil & gas
Indian companies, excluding oil and gas, reported solid double-digit profit growth for the seventh consecutive quarter, although the pace of expansion slowed. While banks and finance companies performed well, overall earnings were subdued due to a higher base effect and rising interest costs.
Earnings special: Delhivery, FirstCry, Mamaearth, Rapido, Noise
A slew of new-age firms reported their September quarter. This and more in today ETtech Top 5.
Apollo Tyres shares jump 3% after Q2 net profit falls 37% YoY. What should investors do?
Apollo Tyres' shares rose 3% despite a 37% drop in Q2 profit to Rs 297 crore, attributed to weak demand in India and rising raw material costs. While European operations showed growth, the Indian market suffered from a slowdown in the commercial vehicle segment. Analysts maintain optimistic outlooks, citing potential for pricing improvements and robust European performance.
Major Apple supplier Foxconn expected to report strong Q3 results on AI boom
Foxconn's shares have surged more than 100% so far in 2024, far outperforming the broader market's 28% gain. Foxconn said last month it was building in Mexico the world's largest manufacturing facility for bundling Nvidia's GB200 superchips, a key component of the US firm's next-generation Blackwell family computing platform.
Infra, transport sector leaders expect growth in earnings, headcount in next 3 years: Report
India is poised to undertake a massive infrastructure development program, demanding significant capital investment. A global survey of infrastructure and transportation CEOs reveals optimism for growth but highlights concerns about ESG expectations and climate change impacts. CEOs acknowledge the public's reliance on businesses to address societal issues and are prepared to prioritize reputation over short-term profits.
Jubilant FoodWorks shares zoom nearly 7% even as Q2 PAT falls 31% YoY
Jubilant FoodWorks Share Price: Jubilant FoodWorks witnessed a surge in its shares despite a 31.5% YoY decline in profit, posting a PAT of Rs 66.53 crore. This growth was fueled by a 43% YoY increase in revenue, reaching Rs 1,954.70 crore. The company's strategic initiatives, including new store openings and a focus on delivery services, contributed to its positive performance despite market challenges.
Is the Indian stock market overheated? What the CAPE ratio tells us
The CAPE ratio suggests Indian stocks are overvalued, but India's economic growth and increased foreign interest justify this to some extent. However, the CAPE ratio's limitations, including its reliance on historical data and its inability to account for changes in market composition, should be considered. While a market correction is possible, long-term investors should focus on quality stocks and maintain a balanced, informed perspective.
Q2 results this week: Hyundai, Nykaa, Vodafone Idea among 2515 companies to announce earnings
Over 2500 companies, including prominent names like ONGC, Hindalco, and Hero MotoCorp, are set to release their second-quarter earnings this week. Early reports suggest muted results, with analysts predicting the slowest growth in over four years due to a marginal 2% rise in Nifty earnings.
Shipping Corp Q2 Results: Net profit jumps multi-fold to Rs 291 crore
Disinvestment-bound Shipping Corporation of India Ltd (SCI) on Friday reported a multi-fold rise in its consolidated net profit to Rs 291.44 crore for the second quarter ended September 2024.
Q2 results today: SBI, Tata Motors among 152 companies to announce earnings on Friday
Over 150 companies, including major players like SBI, LIC, Tata Motors, and Vedanta, are set to release their July-September 2024 quarter results today. SBI is predicted to show single-digit growth in net interest income, while Tata Motors is expected to see a 30% rise in net profit despite muted revenue growth.
India recalls Flipkart antitrust probe report after Xiaomi complaint
China's Xiaomi had complained to the Competition Commission of India (CCI) that the report - which found Flipkart, some of its sellers, and smartphone players in violation of competition laws - contained commercial secrets that should have been redacted, Reuters reported in September.
Tata Steel Q2 results preview: Falling realisations, rising costs may lead to Rs 153 crore loss
Tata Steel may report a loss for the second quarter of FY25. Analysts predict declining realizations and rising costs will impact both domestic and European operations. While sales volume has increased, lower steel prices are expected to affect revenue. EBITDA may decline due to weaker realizations.
Q2 results today: Titan, Dr Reddy's among 63 companies to announce earnings on Tuesday
The second quarter earnings season is in full swing, with 63 companies, including prominent names like Dr Reddy's, Titan, and Mankind Pharma, set to release their July-September 2024 quarter results today.
Bata India Q2 Results: Profit shoots up 53% to Rs 52 crore
"The results for the quarter reflect continued momentum in the transformation journey, driven by strategic investments in product innovation, elevated customer experience, technology integration and brand premiumisation, positioning Bata strongly for future growth," it said.
India's computer market to grow 5.1% annually over next five years: report
According to the financial information and analytics firm, India's imports of laptops climbed 10.8 per cent year over year in the three months that ended in August, led by shipments linked to Apple.
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