Ambuja Cement, ACC crash up to 10% as Adani Group stocks take a hit

9 days ago Business Today

Ambuja Cement and ACC shares cracked sharply amid the steep fall in the broader markets on Wednesday. Asia's richest person and world number three Gautam Adani, who is the promoter of Adani Group acquired ACC and Ambuja Cements from LafargeHolcim in September. Adani Group has suspended its operations at its two cement plants, said some media reports, which is denting their operations. Realizations to also improve by 2 per cent QoQ leading to sequential revenue growth of 10.5 per cent QoQ. Given the diversified nature of the Adani group, synergies are expected to materialize in the form of cost efficiencies aiding the profitability" it said.
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Truecaller: Will its over-dependence on India come back to bite it?

With our technology and data, Truecaller solves many more issues than a basic number identification service. As that happens, people need utility apps that solve core problems,” says Rishit Jhunjhunwala, Chief Product Officer and MD of Truecaller India, who moved back to the country last October from Sweden to focus on the company’s India operations. Another misconception is that we’re a Chinese company, and that’s why the defence forces sent out an advisory against installing Truecaller. With our technology and data, Truecaller solves many more issues than a basic number identification service. While Truecaller has proactively localised all Indian citizens’ data within servers in India, it will hardly be helpful in case of a potential data breach.

3 months ago Business Today

Britain PM Rishi Sunak inducts new team: Dominic Raab is Deputy PM, Suella Braverman returns as interior minister

Britain’s first non-White Prime Minister and Conservative Party leader Rishi Sunak started delivering on his "work would begin immediately" promise within hours of his meeting with King Charles II. Within hours, Sunak began to appoint his cabinet team and made two crucial appointments by evening -- Dominic Raab as the Deputy Prime Minister and Jeremy Hunt as finance minister. Braverman had stepped down a day before former prime minister Liz Truss did after breaching email security rules, also voicing concerns about the direction of Truss's government in her resignation letter. First elected to parliament in 2015, Braverman is regarded as being on the right wing of the governing Conservative Party. Sunak, a Hindu, also becomes Britain's first prime minister of Indian origin.

3 months ago Business Today

EXCLUSIVE: India’s Twitter alternative Koo now reaches 4,800 towns and cities

How did Koo find its audience in a cluttered social media space where attention spans are diminishing by the day? We noticed that the majority of the conversations on existing global social media platforms were in English. Radhakrishna says, “Running a language-based micro-blog is way more complex than a single language platform in multiple ways. These are not necessarily first-time internet users, but language users who didn’t have a platform to express themselves earlier,” Radhakrishna reveals. In April, the Tesla CEO and Twitter board member urged the social media platform to “authenticate all real humans”, which Koo claims it has already done.

3 months ago Business Today

Stocks in news: Maruti Suzuki, Vedanta, SBI Cards, Tata Chemicals and more

Indus Towers: The telecom infra firm reported a 44 per cent fall in consolidated net profit in Q2 at Rs 872 crore. SBI Cards and Payment Services: The financial services provider reported a 52 per cent rise in net profit to Rs 526 crore in Q2 on higher income. The firm had reported a net profit of Rs 345 crore in the previous quarter a year earlier. The non-banking finance company had logged a net profit of Rs 235.21 crore in the year-ago period. Tata Chemicals: The Tata Group's chemical arm reported a nearly three-fold rise in consolidated net profit to Rs 628 crore for the September 2022 quarter on higher income.

3 months ago Business Today

SGX Nifty nears 18,300 level: 10 things you should know before the Opening Bell

Domestic stocks may open on a firm note, tracking Friday's rally in US stocks and a firm start by Asian markets to the week. Here's what you should know before the Opening Bell:Nifty outlookNifty on Friday formed a bullish candle on daily and weekly charts. Bikaji, Global Health IPOs to conclude todayThe IPOs of Bikaji Foods International and Global Health will conclude today. The Bikaji issue is subsribed 1.48 times so far while the Global Health is subscribed 0.49 times. Global Health is offering its shares in a price band of Rs 319 to Rs 336 per share.

2 months ago Business Today

$12.1 trillion of green investments required till 2050 for decarbonizing India: McKinsey

For this, an estimated amount of $12.1 trillion (5.9% of GDP) of green investments are required until 2050 for decarbonizing India in an accelerated scenario, says McKinsey & Company. The accelerated scenario includes more far-reaching policies like carbon prices and accelerated technology adoption (including of emerging technologies like carbon capture and storage). An additional $4.9 trillion for the `Accelerated’ scenario (about 3.5% and 2.4% of India’s GDP through this period, respectively). The current pace of emissions intensity reduction is insufficient for India’s emissions curve to bend, with the expected growth outlook. If policies to create the right demand signals are set in place within this decade, India can add low carbon capacity in the next two decades thereafter.

3 months ago Business Today

‘The bird is freed’: Elon Musk on firing top executives after taking over Twitter

Right after taking control over Twitter, CEO of Tesla Elon Musk shared a cryptic tweet about a bird getting freed. the bird is freed — Elon Musk (@elonmusk) October 28, 2022Soon after this tweet by Musk, Padma awardee and Mahindra Group boss Anand Mahindra said the bird was indeed set free and we anticipate that it will soar even higher. Prior to taking reins at Twitter, Musk tweeted a letter to address advertisers in which he said that his reason to acquire Twitter is to not make more money. A day before the deal was sealed, Elon Musk visited the Twitter headquarters and met Twitter employees in their office. Also read: Vijay Shekhar Sharma, Chetan Bhagat hope for positive, safe Twitter after Elon Musk’s take overAlso read: Anand Mahindra on Musk's Twitter deal completion

3 months ago Business Today

Orient Electric, Gujarat Gas, Adani Wilmar & Titan: What analysts say on these 4 stocks

They include Orient Electric, Gujarat Gas, Adani Wilmar and Titan company. While Electric and Titan Company are 'ADD' calls, Gujarat Gas and Adani Wilmar have received 'Buy' ratings from brokerages. With correction in input prices, Orient will be able to recoup lost gross margins, ICICI Securities said. Adani Wilmar | Nuvama | Buy | Target Rs 708Nuvama Institutional Equities said the Q3FY23 business update of Adani Wilmar augurs a sequential improvement in performance. Nuvama said while Adani Wilmar competes in an extremely competitive business, it has consistently delivered strong volume growth across segments.

22 days ago Business Today

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