OVERACHIEVERS

Will 35% margin be the new normal for Indian Hotels in foreseeable future? Puneet Chhatwal answers

Puneet Chhatwal, MD & CEO of IHCL, discusses the projected increase in management fee income, expecting it to reach Rs 550 crore by 2025-26. He highlights the high flow-through of management fee business, stating that it is expected to grow at a rate of over 20% per annum. Chhatwal mentions the significant contribution of fee-based business and operating leases to IHCL's overall revenue. He concludes with confidence in the company's financial growth and the potential for further margin expansion.

Modi govt's Rs 47.66 lakh cr Budget lays strong foundation for 'Viksit Bharat', say experts

India's Finance Minister, Nirmala Sitharaman, presented the Union Budget, positioning it as a foundation for developing India into a 'Viksit Bharat' or a developed nation by 2047. The budget, totaling INR 47.66 lakh crore, spans various sectors with a focus on social justice, fiscal prudence, and fiscal deficit reduction. Experts view the budget as laying the groundwork for an empowered and inclusive India, echoing Prime Minister Narendra Modi's vision.

Adani Ports Q3 Results: Net profit jumps 68% YoY to Rs 2,208 crore

Adani Ports Q3 Results: Revenue from operations in the third quarter rose 44% year-on-year (YoY) to Rs 6,920 crore. Adani Ports reported an EBITDA of Rs 4,293 crore for the December quarter, which is an increase of 59% YoY. EBITDA margins in the reporting period were at 62%.

Interim Budget 2024 picks: Sunteck Realty, UltraTech Cement could give 20-40% return in 1 year

The Government of India (GoI) will present the Interim Budget 2024-25 on 1st Feb’24 (Thursday). Although the Budget presentation is only one part of managing public finances, it attracts significant attention. Based on provisional data available for 8MFY23 (Apr-Nov’23), our calculations suggest that gross taxes can exceed budget estimates (BEs) for the third consecutive year, by as much as INR1.3t in FY24.

Harshvardhan Dole on his top picks among GCD, OMC and power stocks

Harshvardhan Dole says: “One must align the allocation more towards generation and distribution. From a pecking order perspective, we like NTPC the most, followed by distribution entities like Torrent Power and CESC. And then the usual suspects will follow, which is Power Grid etc. But NTPC continues to be a preferred stock.”

The Greek hero never cared for justice

Greek stories are full of defiance, and achievement, not about obligation, obedience, and charity. Greek heroes are adventurers who go on dangerous quests into the unknown, kill monsters and bring back gold and glory.

North-South, real gaps, false binary

Some of the south's wariness is misplaced. Urbanisation leads to the same effects of increased economic clout combined with political marginalisation. And the north is urbanising faster than the south, in part because of a low base. Since migration is overwhelmingly intra-state, the model of economic development is becoming geographically diversified.

Premium Apple, Samsung devices driving smartphone sales growth during festive season: report

The premium segment saw 50% year-on-year (YoY) growth on Flipkart, led by the iPhone 14 and Galaxy S21 FE. On Amazon, sales in the segment surged almost 200% YoY, with the iPhone 13 and Galaxy S23 FE in the vanguard, said the report by Counterpoint Research.

Flipkart suspends grocery services amid Big Billion Days rush

Flipkart, the Indian ecommerce platform, had to suspend its grocery delivery services during its annual 'Big Billion Days' festive sale due to overwhelming demand. The platform experienced an outage as users flooded the app and website. The annual festive sale began on October 8th, with other platforms such as Amazon and Myntra also offering early access to members.

Ecommerce discounts shrink on day three on 30% surge in festive sales

Flipkart and Amazon started their first festive sales – christened Big Billion Days and Great Indian Festival respectively – on October 8 with early access for member customers on October 7.

Europe’s fresh COP28 climate pledge opposed over emissions cuts

Six EU nations - Poland, Lithuania, Hungary, Italy, Slovakia and Romania - reportedly resist an updated climate pledge showing the bloc is set to overachieve on emissions cuts ahead of COP28, and suggest that a draft figure of a 57% cut to carbon emissions by 2030, higher than 55% targeted under the bloc’s green deal, is too ambitious.

ETMarkets Management Talk: Anand Rathi Wealth sees 4 growth triggers in next 5 years

Definitely, the market has moved up during the last quarter after being lacklustre for more than a year. And positive return in the market helps us to earn more trail revenue as it is linked to market value of the assets.

At 23 pc spend, Andhra Pradesh leads laggards in state capex in FY23; Karnataka, Bihar cross 100 pc

As against this, in FY21, the underachievement level was a high 72 per cent, primarily due to the pandemic emergency spending, and had improved to 95 per cent in FY22.

All good things come to an end: Maitreyi Ramakrishnan on 'Never Have I Ever' final season

Ramakrishnan, a Sri Lankan-Canadian, was just 17 when she landed the role of Devi, an overachieving Indian-American teenager growing up in Southern California, US, who is mourning the death of her father while navigating life as a high school student in the hit Netflix show.

Overachievers! These Sensex stocks managed to trump Street expectations in Q4

Adani Ports Q4 net profit rises 5% to Rs 1,159 cr on high cargo volumes

One of the most profitable units of the sprawling Adani Group, APSEZ reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of ₹3,270.7 crore, 27% higher on year. Its cargo volumes increased 11% on year as it handled 86.3 million metric tonne of cargo during the quarter.

Management Talk: Anand Rathi Wealth raises guidance for FY23

"For all three quarters of this financial year, we have reported strong growth upward of 30%+ YoY for total revenue. Cumulative revenue for 9MFY23 grew by 32% YoY and PAT by 37% YoY. We are confident that similar growth will also continue for the current quarter."

Jeff Garlin joins Netflix's coming-of-age comedy 'Never Have I Ever' season 4

The final season will focus on Devi's senior year in high school as she is really coming into her own.

Budget 2023: Will India walk the talk on fiscal prudence?

The fiscal deficit was pegged at about Rs 16.61 lakh crore in BE 2022-23, which was 6.4% of the GDP. A fiscal deficit is an indicator of the government's market borrowing Analysts noted that the Centre has been extremely conservative in its receipt estimates for the second straight year.

‘Have to fake being employed every day.’ Sacked Meta executive has not yet told his parents about pink slip

Ankit Tiwari was one of the 11,000 employees to be laid off.

FIFA World Cup 2022: Who is Mexico's coach?

As Mexico competes in the ongoing FIFA World Cup, it is time to know about its coach.

Pieter Elbers: Will KLM’s overachiever fit into IndiGo?

“The loyalty to him from his employees is great, even after the tough decisions he had to take during the pandemic. That is an extremely important point about him,” said Kurt Hofmann, a global aviation expert and long-time acquaintance of Elbers.

Set to overachieve on $10-billion India investment target: Softbank CEO Masayoshi Son

Son sees opportunities for Indian portfolio firms such as Oyo to go overseas and become global leaders while bringing its overseas portfolio companies here