APPLE INDIA REVENUE GROWTH
Prosus invests in Mintifi, Vastu Finance; eyes more India IPOs after Swiggy listing
The company revealed that it has secured 11% stake in supply chain finance firm Mintifi for approximately $80 million. It also acquired 8.4% stake in the housing finance company Vastu Finance for $100 million. These deals follow its investment in Bluestone as part of a Rs 900-crore funding round.
India's fiscal deficit on track, but spending challenges persist: UBI report
The central government fiscal deficit for the first seven months of FY25 stands at 46.5% of its budget estimates, highlighting challenges in meeting the year's capital expenditure target. Capital expenditure fell by 14.7% during this period, impacting long-term economic growth, although there was a fiscal improvement in October 2024.
Adani Ports shares can rally up to Rs 1,960, says Nuvama after visiting Vizhinjam port
Adani Ports share price: Nuvama maintains 'Buy' rating on Adani Ports, targeting Rs 1,960, driven by revenue growth, logistics, and Vizhinjam port. Positive outlook with 20% revenue and 18% EBITDA CAGR through FY29.
India needs to grow at over 7% along with robust fiscal framework to meet Viksit Bharat target: EY India
Enhanced government spending is crucial for India's Viksit Bharat vision, with strategies needed to boost tax revenues, optimize fiscal transfers, and increase government expenditure to 35% of GDP. Aiming for 7% GDP growth and fiscal prudence, the goal is to achieve developed economy status by FY2048.
Emami Realty to invest Rs 10,000 crore in 7 years, to expand realty portfolio
Emami Realty will invest Rs 10,000 crore in Indian real estate. The company will develop 22 million square feet of residential and commercial space. Projects are planned for Mumbai, Chennai, Kolkata, Bhubaneswar, and Jhansi. Emami Realty expects to generate Rs 15,000 crore in revenue. The company has 9 million square feet under development.
ShareChat parent Mohalla Tech reports 33% rise in FY24 operating revenue, 67% fall in Ebitda losses
For the parent firm of the vernacular social media platform ShareChat and short video app Moj, live streaming contributed 56% to total operating income, which grew 41.4% YoY to Rs 403 crore in FY24. The remaining revenue came from advertising, which saw a 23.5% YoY increase to Rs 315 crore.
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Healthkart swings to profit in FY24, revenue tops Rs 1,000 crore
Gurugram-based Healthkart, which is a health supplement startup, reported a 23% on-year increase in operating revenue at Rs 1,021 crore from Rs 832 crore, according to its financial statements sourced from Tofler.
Booming quick commerce platforms spot a big surge in ad revenues
Quick commerce platforms like Blinkit and Zepto are experiencing a surge in advertising revenue, with both projected to earn over Rs 1,000 crore this financial year. This growth is attributed to their expanding user base and the need for brands to stand out in a crowded market.
PAG to acquire Advent-owned Manjushree Technopack
Asia-focused private equity fund PAG is set to acquire Manjushree Technopack Ltd., India's largest rigid plastic packaging company, for $1 billion. The deal will see US-based Advent International exit its investment in Manjushree, opting for a sale instead of its initial plan to list the company on the stock market.
Uniqlo plans to expand production and sourcing in India
Uniqlo is increasing its sourcing from India for its global operations. The company is also expanding production in India. Uniqlo sees India as a market with high growth potential. The retailer has experienced significant growth in India in recent years. Uniqlo is focusing on product mix and quality in India.
Zinka Logistics shares fall 7% after listing. What should investors do
Zinka Logistics share Price: Zinka Logistics Solutions' shares fell 7% post-IPO debut at Rs 279, with a 2.2% premium over the issue price. Investors are cautious due to financial challenges and legal issues.
Automotive component maker Belrise Industries files papers to raise Rs 2,150 crore via IPO
Belrise Industries, an Indian automotive component manufacturer, has initiated the process for an IPO to raise Rs 2,150 crore. The company plans to use the funds for debt repayment and submitted its draft prospectus to Sebi on Tuesday. Belrise Industries supplies components to major automotive companies globally and reported a revenue of Rs 7,484.24 crore in FY24.
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.
Brainbees Solutions shares zoom nearly 8% as co narrows Q2 loss YoY, grows in revenue
FirstCry operator Brainbees Solutions saw its shares surge after reporting a narrowed consolidated net loss of Rs 50 crore in Q2FY25, down from Rs 101 crore the previous year. This improvement was driven by a 26% YoY increase in revenue, reaching Rs 1,905 crore, and a significant jump in adjusted EBITDA.
Food inflation to moderate in next 2 quarters, expect double-digit revenue growth in H2: Marico
Marico, an FMCG giant, is aiming for double-digit growth in the latter half of FY25. Anticipating a decrease in food inflation, the company plans to navigate rising input costs by strategically adjusting prices while prioritizing volume growth and market share.
Foxconn sees net profit rise 14% in Q3 on the back of strong demand for AI servers
The company said that the cumulative revenue of AI servers in the first three quarters of this year grew more than 200% compared to the same period last year, and general server revenue also grew by more than 20%.
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.
Siemens AG looks to ride AI data centre wave
Chief Technology Officer, and Chief Strategy Officer at Siemens AG, Peter Koerte said, ¡°Data centres are growing significantly, double-digit around the world.¡±
Apple overtakes Samsung in Q3, clocks record shipments
The iPhone 15 and iPhone 13 models were the most popular, according to IDC. Record shipments led to Apple cornering majority share in the smartphone market in value terms, widening the gap with Samsung. Apple's revenue share in the market stood at 27.2% while Samsung's share stood at 15.2%.
UK businesses drive growth and sustainability in India, generating over Rs 5,000 bn in revenue: Report
UK businesses are making a big impact in India, generating over Rs 5 trillion in revenue and employing over half a million people. The India-UK Free Trade Agreement is expected to further boost this growth, particularly in sectors like renewable energy and technology. British investments are supporting India's economic development and sustainability goals.
Apple India profit soars, so does dividend payout
Apple India's dividend payout to its Irish holding company more than doubled to ?3,302 crore in FY24, exceeding its net profit for the first time. This comes as iPhone sales surged in the country, boosting Apple India's revenue by 36%. While analysts acknowledge the impressive revenue, they also point to stagnant operating margins and increased inventory as potential challenges.
Jubilant Foodworks Q2 Results: Cons net profit declines 31% YoY to Rs 67 cr, revenue up 43%
Jubilant FoodWorks, owner of Domino's and Dunkin' brands, saw a decline in profits this quarter. Revenue, however, increased significantly. The company added 73 new stores, bringing the total to 3,120. Domino's India achieved record high monthly active users. The company's shares closed slightly lower after the announcement of these results.
Godfrey Phillips India Q2 Results: Net profit up 23% at Rs 248.31 crore
Cigarette maker Godfrey Phillips India Ltd on Monday reported a 23 per cent rise in consolidated net profit to Rs 248.31 crore in the second quarter ended September 30, 2024, fuelled by higher sales.
Trump effect: iPhone¡¯s India output may double to $30 billion annually
Apple could double its iPhone production in India to over $30 billion annually if the US imposes tariffs on Chinese imports. This shift could create 200,000 jobs and increase India's share in iPhone production to over 26%. However, the move depends on US policy and India's ability to address cost and policy challenges.
India emerging as good opportunity market for Sony's gaming biz, says India MD
Sony India, experiencing substantial growth in its gaming sector due to the PlayStation 5's success, is now eyeing India as a key market. Despite anticipating moderated growth this fiscal year, the company remains committed to expanding its gaming presence, including software and peripherals.
Whirlpool India Q2 Results: Net profit rises 40% to Rs 53 crore on higher volume
Consumer durable maker Whirlpool of India Ltd on Friday reported a 40.13 per cent rise in its consolidated net profit to Rs 53.53 crore in the September 2024 quarter, helped by volume growth and cost productivity actions.
Canva is leveraging its Facebook India communities to build deeper inroads
India is Canva¡¯s fifth-largest market with around 139 million presentations created in the last one year and tools like the photo background remover being one of the most popularly used tools. Social media templates for Instagram are among the most popular in India for Canva.
Apple offers modest growth outlook after iPhone sales help beat profit expectations
Apple's AI-enhanced iPhone sales exceeded Wall Street expectations, but the company's modest future revenue forecast raised concerns. China sales declined in the fourth quarter, causing some analysts to worry. Apple's overall revenue and profit were strong, but some product lines missed expectations. The company's services business is expected to grow, but hardware revenue might decline.
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