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23 Nov

Gap’s net sales expansion 2 percent in third quarter

Priyanka RoyBusiness, latest

US-based apparel giant Gap has reported a 2 percent increase in its net sales in the last quarter of this year. Sales in the third quarter rose to US$3.8 billion compared to last year's sales. The company's strong third quarter results have raised its full-year forecasts for net sales, gross margin and operating income. Gap Inc. Chairman and CEO Richard Dixon said, "I am pleased to report that Gap Inc. has again recorded a strong quarter, increasing net sales for the fourth consecutive quarter, gaining market share for all brands and significantly increasing operating profit." Although store sales declined 2…

22 Nov

NLC India shares inflation 5% after it emerges as top bidder for Odisha coal mine

Priyanka RoyBusiness, latest

NLC India shares rose up to 5 per cent on November 22 after the company announced it had emerged as the highest bidder (H1) for the New Patrapara South coal mine in Odisha's Angul district. The designation is given by the coal ministry following the commercial coal block e-auction conducted on November 21.At 2:50 pm, NLC India shares were trading 4 per cent higher at Rs 263. While the stock has gained 5 per cent so far this year, it has underperformed the Nifty 50, which has gained 9 per cent during the same period. Today marked the fourth consecutive…

21 Nov

Apple India’s net profit jump 23 percent to Rs 2,746 crore in FY24, revenue grew to Rs 67,152 crore

Priyanka RoyBusiness, latest

The company's total income grew 36 percent to Rs 67,121.6 crore in FY24.iPhone maker Apple India has reported a 23 per cent rise in net profit to Rs 2,745.7 crore in FY2023-24.This information has been given in the company's regulatory filing shared by Tofler.Apple India had reported a net profit of Rs 2,229.6 crore in FY23. The company reported a 36 per cent rise in total income in FY24, rising to Rs 67,121.6 crore from Rs 49,321.8 crore in FY23.Toffler said, "Apple India Private Limited, which provides and markets Apple brand products and software, including mobile devices and laptops, reported…

20 Nov

Equity investments in Indian real estate set to upsurge 49% this year to record $11 billion: CII-CBRE

Priyanka RoyBusiness, latest

Equity investments in Indian real estate are set to grow 49 per cent to $11 billion this calendar year amid strong demand for properties, according to a report by Confederation Indian Industries (CII) and real estate consultancy firm CBRE. In the 2023 calendar year, equity investments in real estate stood at $7.4 billion. Debt financing in the sector has also reached a record high, rising to over $4.7 billion from January to September 2024, marking a more than two-fold increase year-on-year, the report said. It noted that nearly 60 per cent of this debt financing targeted key markets, including Delhi-NCR,…

19 Nov

Hero MotoCorp share price progress 5% after it reported a 6% rise in Q2 net profit to ₹1,066 crore

Priyanka RoyBusiness, latest

Hero MotoCorp share price: Shares of Hero MotoCorp, India's largest two-wheeler maker, rose 5% on Monday, November 18. The company released its financial results for the July-September quarter of the current fiscal year. In early trade, the stock climbed as much as 5% and was trading at ₹4,835 per share on the NSE. At 9:23 am, the stock was trading 4.2% higher at ₹4,797.20 per share. The company has a market capitalisation of ₹96,179.44 crore. Hero MotoCorp results Hero MotoCorp on Thursday said its consolidated net profit for the three-month period ended September 30, 2024 rose 6% to ₹1,066 crore…

18 Nov

Crude oil imports may progress in November after decline in October

Priyanka RoyBusiness, latest

India's crude oil imports are likely to improve in November with key refineries, including Mangalore, Kochi and Mathura, restarting after maintenance, according to global real-time data and analytics provider Kpler. The agency estimates India's refineries will increase by 250,000 barrels per day month-on-month to 5.41 million barrels per day during the month, the highest since July. In October, the country's imports fell to a year-low of 4.34 million barrels per day. "They are expected to recover to 4.87 million barrels per day in November, supported by stable domestic production of 590,000 barrels per day," Kpler said in its report. It…

16 Nov

Schneider Electric shares inflation, company reports 26% net profit in Q2

Priyanka RoyBusiness, latest

Schneider Electric share price rose 4.17 per cent to Rs 755.95 per share in Thursday's intraday deals after the company reported a 26 per cent rise in net profit in Q2FY25. The company on Thursday reported a net profit of Rs 54.3 crore in Q2FY25, registering a growth of 26.6 per cent as compared to net profit of Rs 42.9 crore in the same period a year ago. The company's operating revenue for the quarter stood at Rs 599.7 crore in the September quarter of FY25, registering a growth of 21 per cent from Rs 495.8 crore in the previous…

15 Nov

Suzlon Energy shares inflation 5% after 5-day decline

Priyanka RoyBusiness, latest

Suzlon Energyshares jumped 5% on Thursday and hit an upper circuit of Rs 56.78, snapping a five-day losing streak. The rally in the wind power company's stock is attributed to the optimism prevailing in the market over the company's ongoing efforts to strengthen its position in the renewable energy space.Suzlon's positive momentum is driven by the recent significant order of 1,166 MW of wind power received from NTPC Green Energy. The deal has strengthened Suzlon's order book, which now stands at a record 5.1 GW, driving revenue growth and stability.With a strong order pipeline, Suzlon is well positioned for sustained…

14 Nov

Eicher Motors shares rose over 8% after earnings announcement

Priyanka RoyBusiness, latest

Eicher Motors' consolidated profit after tax rose 8 per cent year-on-year to ₹1,100 crore in the September 2024 quarter, led by robust sales across all business segments. Eicher Motors shares surged over 8 per cent on Thursday after the firm said its consolidated profit after tax rose 8 per cent year-on-year to ₹1,100 crore in the September 2024 quarter. The stock rose 8.35 per cent to ₹4,972.50 on the BSE. It rose 8.37 per cent to ₹4,973 on the NSE. Eicher Motors on Wednesday said its consolidated profit after tax rose 8 per cent year-on-year to ₹1,100 crore in the…

13 Nov

Medicare premiums will inflation again in 2025. Here’s what you need to know

Priyanka RoyBusiness, latest

Americans on Medicare can expect their premiums to rise by more than $10 per month starting in 2025. The announcement comes from the Centers for Medicare & Medicaid Services, which said it will increase the deductible by $17 due to higher projected costs and projected utilization growth. According to CMS, anyone making more than $106,000 can expect their premiums to rise even more, but that depends on how much they earn. News of this increase comes about a month after the Social Security Administration announced a 2.5% cost-of-living adjustment — which increases monthly Social Security benefits by $50. Since most…