ABB reported a weak quarter. Revenue was at Rs 2,910 crore, up only 5 per cent year-on-year (Y-o-Y), with operating profit at Rs 540 crore, up 23 per cent and net profit at Rs 440 crore.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
As order books gain from India's increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen & Tourbo (L&T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
ABB India's March quarter results (Q1CY24) were led by strong margin performance. Revenue was, however, largely in line with estimates at Rs 3,080 crore (up 28 per cent Y-o-Y and up 12 per cent Q-o-Q). The growth was across electrification (30 per cent Y-o-Y), process automation (73 per cent Y-o-Y) and robotics & motion (8 per cent Y-o-Y).
Amit A Shah holds a stake in 180 listed entities, according to data disclosed in his election affidavit.
Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
What do Salman Khan, Shah Rukh Khan, Hrithik Roshan, Deepika Padukone, Katrina Kaif and Ashutosh Rana have in common?
'Our factories are world-class and are becoming increasingly attractive for our global business leaders to use to serve other markets.'
'On Saturday night, I went to the cinema to see my film for the first time as a member of the audience.' 'What I saw left me overwhelmed.' 'So much love!'
Ever wondered why Hrishikesh Mukherjee's 1973 musical Abhimaan, the story of two singers who happened to be married to one another, has three voices singing for Amitabh Bachchan but only one voice, Lata Mangeshkar, for Jaya Bachchan?
India Inc could be embarking upon a new phase of capital expenditure (capex) cycle, observed analysts, and suggest its revival would lead to a rerating of industrial stocks. Assisted by a property upcycle, analysts at Jefferies said several government initiatives were likely to drive capex. Indicators, they said, include a private project announcement at Rs 25 trillion for 2022-23 (up 150 per cent from pre-pandemic levels) and credit growth at about 16 per cent, which is closer to pre-pandemic highs.
Leading stock exchange NSE has tweaked the constituents of its major indices with Adani Group's two companies -- Adani Wilmar and Adani Power -- all set to make their way into some of the Nifty indices from March 31, 2023. Adani Wilmar will be part of Nifty Next 50 and Nifty 100 indices, while Adani Power will be included in Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250, and Nifty Midsmallcap 400 indices. All the changes in the indices will be effective from March 31 this year, the exchange said in a late night statement on Friday.
Hyderabad will host India's first ever ePrix on February 11.
The engineering and construction (E&C) sector delivered an excellent performance in the last two financial years (FY2021-22 or FY22 and FY23's nine-months) and there's reason to believe that FY24 will also see outperformance. The sector has emerged from the pandemic with stronger balance sheets and more rational cost structures. It has a big order book and it should see new order flows accelerate in FY24.
Maharashtra Chief Minister Eknath Shinde was in element at the Gateway of India.
Hyderabad will be the first time a major international racing event
Operating margins for some companies dipped in Q3, 2021-22 but this sector could be nearing the bottom of the cycle in terms of profits.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Debutant Akash Kumar (54kg) secured India's first medal at the AIBA World Boxing Championships in Belgrade on Tuesday after advancing to the semi-finals with a superb win over former Olympic silver-medallist Yoel Finol Rivas of Venezuela.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Subhash K Jha lists the inimitable Mohammad Rafi's five most enduring romantic songs.
Ola's factory will create 10,000 jobs and serve as the company's global manufacturing hub for India and international markets.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The mid-cap universe - comprising firms that rank 101-250 in terms of m-cap - could see as many as 17 new stocks move out. Similarly, over half a dozen stocks could exit the large-cap universe, which is defined as the top 100 entities in terms of m-cap.
Zareen won the bout after local favourite and former champion Sevda Asenova abandoned the contest during the opening round.
Half a dozen stocks from the large-cap universe and over two dozen from the mid-cap universe have been replaced.
'Student of the Year 2 has no spunk, no plot and zero charisma,' sighs Sukanya Verma.
The reason for digital and IT interventions increasingly being adopted is not just the change in ways commuters move but also the mode on which this transport moves, says Jyoti Mukul.
'Nowadays, every week there is a comparison.' 'This week someone is on top, next week someone else.' 'For me, the love that I got made my legs strong, not my head.'
While consumers will be paying a higher upfront cost for smart metering, the share in the efficiency gains could more than offset this higher spend
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
L&T is the preferred pick, but given the opportunities in the power T&D space analysts are also positive on KEC, ABB and Kalpataru
The condition of over two dozen people who were admitted to the hospital in Kathmandu is said to be serious.
Jaane Bhi Do Yaaro is one of the best and most uncompromised films of Indian cinema, says Sukanya Verma.
For the first time since 2001, promoter stake in BSE 500 decisively below 50%
'If we chose to do the right things, it is possible to avoid job losses at a mass scale,' ABB MD Sanjeev Sharma tells Raghu Krishnan.
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