BUSINESS DIVISIONS
Business first, stock second: 5 largecap stocks where management & business are better placed with an upside potential of upto 23%
What does a hospital, chemical or rather specialty gas supplier, FMCG, and real estate company have in common? Surely not the product. What binds them is the ability of management which has been tested in tough times. Another common factor, business is such that returns on investment are higher and are also consistent. The reason why these things become important at this point of time is the fact that in bull markets, there is no dearth of explanation and narrative, when putting money one has to look at one reason which becomes the focal point to avoid panic when there is correction. So, if the management and business are good then corrections will come and go and in the long term higher return would compensate for the patience which one shows in the times of correction.
Adani Wilmar Q1 Update: Volumes grow 13% YoY on sustained market-specific strategies
Leveraging its strong product portfolio, the company is actively expanding its general trade presence through robust sales and distribution strategies. Additionally, it has experienced significant growth in alternate channels such as e-commerce, quick commerce, and modern trade, achieving a 19% year-on-year volume increase in the first quarter.
Titan Q1 Update: Business grows 9% YoY; company adds 61 stores
Domestic jewellery sales grew 8% year-on-year, boosted by double-digit growth during Akshaya Tritiya. However, high gold prices and fewer wedding days dampened consumer demand compared to the previous quarter. Growth was primarily driven by increased average selling prices, while buyer growth remained in low single-digits. Tanishq expanded internationally with a new store in Muscat.
Don't be afraid to be bullish, just a bit of hard work and a pinch of patience: 4 smallcap stocks for long term investors
Given how nifty and sensex are moving and market breadth is panning out, it is very likely that we are soon going to enter a phase, where the desire to own small caps would come in the category of “highest”. Another side of the story, when that happens, what will get ignored is that “risks” are also at the highest when bulls are controlling the small cap segment. For all those who still want to take exposure to them, in such times, it would be better to be cautious in selecting the stocks, better to go with buying in smaller quantities and buy stocks where the underlying business has good macro fundamentals. Refinitiv’s Stock Report Plus which lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".
Don't be afraid to be bullish, just a bit of hard work and a pinch of patience: 4 smallcap stocks for long term investors
Given how nifty and sensex are moving and market breadth is panning out, it is very likely that we are soon going to enter a phase, where the desire to own small caps would come in the category of “highest”. Another side of the story, when that happens, what will get ignored is that “risks” are also at the highest when bulls are controlling the small cap segment. For all those who still want to take exposure to them, in such times, it would be better to be cautious in selecting the stocks, better to go with buying in smaller quantities and buy stocks where the underlying business has good macro fundamentals. Refinitiv’s Stock Report Plus which lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".
ArcelorMittal shelves plan to close S.African steel plant
"The board and management have decided that the longs (steel) business will continue to operate to allow an opportunity for the short, medium and longer-term initiatives aimed at securing its sustainability, to be fully explored," ArcelorMittal South Africa said in a trading update.
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Canon India appoints Toshiaki Nomura as president and CEO
Canon India has appointed Toshiaki Nomura as its new President and CEO starting July 1. Nomura, with Canon since 1999, previously led Canon's Business Imaging Solution division in Southeast and South Asia. He aims to leverage India's dynamic market potential, focusing on core imaging and printing while expanding into new segments like surveillance and industrial printing. Under Nomura's leadership, Canon plans aggressive expansion into tier-2 and 3 cities, strengthening its brand presence nationwide.
Cleartrip appoints Anuj Rathi as chief business and growth officer
Anuj Rathi has been appointed as the chief business and growth officer of Cleartrip, Flipkart's travel booking unit, replacing Ayyappan R. He announced this in a LinkedIn post on Thursday.
Salesforce launches public sector division in India; unveils Made-for-India digital lending solution
Salesforce launched its public sector division in India, introducing a digital lending solution tailored to the market's needs. The move underscores the company's commitment to India, with insights from an IDC study projecting significant job creation and revenue generation. CEO Arundhati Bhattacharya highlighted India's digital transformation potential, noting an urgency for technology adoption. The new offerings aim to enhance citizen experiences and streamline consumer lending processes in the country.
Business families seek legal advice to amend tightly written deeds of family settlement amid global expansion plans
Business families, particularly in India, are increasingly seeking legal counsel to amend rigid Deeds of Family Settlement (DFS) originally drafted decades ago. These deeds, designed to safeguard inheritances, now pose challenges as younger generations seek to expand globally into new sectors like fintech, tech-led consumer businesses, and electric vehicles. Legal experts note that the old deeds lack flexibility for today's globalized and dynamic business environment, prompting families to consider amendments to address issues such as wealth protection, succession planning, and regulatory compliance.
Chandrababu Naidu family's fortune up by Rs 858 crore as Heritage Foods stock soars 64% in 5 days
On Friday, shares of Heritage Foods hit a fresh 52-week high of Rs 661.75 on the BSE. On the day before the final phase of polling and the exit polls, the stock had ended at Rs 402.80. The stock gave a stellar show between June 3 and June 7.
Samsung workers strike, the first in the company's history
Samsung workers strike over wage disputes amid Samsung Electronics' battle to regain edge in memory chip business crucial for AI systems, challenged by SK Hynix in market dominance.
ITC Demerger: IiAS advises shareholders to vote against splitting of hotels business
IiAS does not see any substantial value unlocking for ITC’s hotel business and thus recommends shareholders to vote against the proposed demerger of the business. The advisory firm called it a lack of clarity on the part of the board of directors on the plan for the 40% holding in the hotels business.
Nazara Technologies reports 43% increase in profit after tax at Rs 17 crore in Q4
Nazara Technologies reported a 43% increase in profit after tax to Rs 17 crore for Q4 FY24. Operating revenue for March fell 8% to Rs 266 crore. FY24 PAT from operations grew to Rs 89 crore. Founder Nitish Mittersain is optimistic about accelerated growth in revenue and EBITDA in FY25.
Ukraine's divisive mobilisation law comes into force as a new Russian push strains front-line troops
A new mobilisation law in Ukraine has sparked controversy as it aims to boost troop numbers amidst Russia's offensive. The law provides incentives for soldiers but has raised concerns about its impact on businesses and essential services. Ukrainian forces are under strain, prompting measures to replenish depleted ranks. Volunteers are joining the fight, but draft dodging and fleeing the country are also occurring. The conflict has led to casualties and displacement, with Ukraine seeking international support to defend against Russian advances.
Pakistan-occupied Kashmir's capital witnesses clashes amidst total strike against police crackdown
Strike in Muzaffarabad, PoK by JKJAAC led to clashes and teargas shelling. Normal life disrupted with closures of businesses. Demonstrators protested against police crackdown, demanding fair electricity prices based on hydro-power production cost.
GenZ Indian-American running for Georgia State Senate raises over USD 280K
Ramaswami, 24, has outraised his incumbent opponent Shawn Still by 22 times in the latest filing period from Feb 1 to April 30. While Ramaswami raised over USD 146,000, his opponent raised only USD 6,400. The two are running for the State Senate in the District 48 of Georgia.
Axis Bank brings expats to India in push to woo global firms
Axis Bank Ltd. aims to boost its global business by hiring Asian expatriates, targeting mid-sized companies from countries like South Korea, Japan, US, Germany, Italy, and France. Facing challenges with South Korean and Japanese firms due to language barriers, the bank has recruited expatriates to facilitate connections and expand its corporate banking division.
Succession, a sharp India inc OTT show
Indian family businesses, exemplified by the Godrej division, navigate succession challenges with professionalism and coordination, setting a benchmark for other legacy firms in evolving global business environments.
Antony Blinken meets with China's President Xi as US, China spar over bilateral and global issues
U.S. Secretary of State Antony Blinken met Friday with Chinese President Xi Jinping and senior Chinese officials, stressing the importance of "responsibly managing" the differences between the United States and China as the two sides butted heads over a number of contentious bilateral, regional and global issues.
How Bombay restaurants duped US investors of Rs 31.5 cr by selling great franchisee dream
According to a lawsuit filed by the Colorado Division of Securities, the owners of Bombay Clay Oven and Saucy Bombay allegedly used "half-truths and lies" to entice investors with ambitious plans for a nationwide expansion. They purportedly spent the investors' USD 380,000 on rent, operational expenses, and Ponzi-like payments, as per a report by the local newspaper "BusinessDen."
Banijay Asia elevates Rajesh Chadha to COO of scripted division
Rajesh Chadha has been promoted to Chief Operating Officer of Banijay Asia's Scripted Division, overseeing development and production of scripted content. With over 30 years of experience, he aims to lead the company to new heights in producing narrative-driven content. Banijay Asia's strategy is to enhance market dominance globally.
Godfrey Phillips to exit retail business division ‘24Seven’
Tobacco manufacturer Godfrey Phillips India Ltd has decided to exit its retail business division, 24Seven, after a negative net worth as of March 31, 2023, following losses. The decision was made after a thorough review of the division, considering stakeholders' feedback, long-term performance, market conditions, and long-term business strategy.
Essar Power's renewables division appoints Ankur Kumar as CEO
Ankur Kumar, CEO of Essar Power renewables, leads the transition to green energy in India. With vast experience, he collaborates to drive Essar's sustainable future by building a strong portfolio and onboarding talents.
Hitachi Vantara integrates Hitachi IT platform products management division
The new structure includes the integration of Hitachi Vantara and parent Hitachi’s IT platform products management division, which is responsible for Hitachi’s business development, R&D, and production of data infrastructure solutions.
Harassment and drugs plagued a Citigroup division for years
A recent expose reveals a culture of harassment and discrimination within Citigroup's equities unit in New York. Interviews with 22 insiders describe a decade-long pattern of misconduct, including ogling female colleagues, rating them by looks, and discussing sexual conquests. Complaints to HR and senior executives yielded little change, with some alleged perpetrators still employed. Citigroup, known for its efforts towards inclusivity, faces scrutiny over its handling of the situation amidst ongoing efforts to boost its equities trading revenue.
Siemens to acquire drive technology division from ebm-papst
Germany-based ebm-papst, which makes electric motors and high-tech fans, wants to concentrate on air and heating tech and had therefore put the division with 650 employees up for sale.
Apollo names Madhu Sasidhar as CEO of hospital division
Prior to joining Apollo, Dr Madhu held various roles at Cleveland Clinic, including president of Cleveland Clinic Tradition Hospital. He is a practicing physician with US board certifications in internal medicine, as well as pulmonary and critical care medicine. He completed his medical education at JIPMER, Pondicherry, and pursued further studies in Internal Medicine at St Luke’s-Roosevelt Hospital in New York City.
Fin sector, reforms may drive India's growth at 7 per cent in FY25, says government
Presented ahead of the interim budget for FY25, the review identified education, health and energy security; reducing the compliance burden for small businesses; and improving labour market gender balance as the priority areas for future reforms. It flagged the elevated risk of geopolitical conflicts as an area of concern.
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