Larus Financial News

  M&M's Q1 Results: Mahindra & Mahindra's revenue from operations in the first quarter of FY25 saw a 12% increase to ₹27,038.79 crore from ₹24,137.19 crore on a year-on-year basis. The automaker achieved market share gains and continued margin expansion in both the Auto and Farm segments. Q1 Results: On Wednesday, automotive giant Mahindra & Mahindra reported a standalone net profit of ₹2,612.63 crore for Q1FY25, marking a 5.3% decrease from ₹2,759.43 crore in the same period last year. The decline in profit after tax was attributed to two one-off gains totaling ₹763 crore last year, according to the company. Invest in US Stock's at zero Brokerage and Withdrawal charges:  https://phon.pe/TI2407232224499405957186   The company's revenue from operations for Q1FY25 rose by 12% to ₹27,038.79 crore from ₹24,137.19 crore year-on-year. Market share gains and margin expansion were noted in both the Auto and Farm segments. "The F25 fiscal year began with robust ...

Indian Oil Corporation's (IOC) average gross refining margin — the profit made from refining one barrel of oil — decreased to $6.39 per barrel from $8.34 per barrel the previous year. IOC reported an approximately 81% drop in first-quarter profit on Tuesday, impacted by reduced marketing margins. Click here  to read in detail about Indian Oil Financial Performance Q1 FY 2022-23 The government-owned company's standalone net profit fell to Rs 2,643 crore (approximately $316 million) for the quarter ending June 30. The average gross refining margin — the profit from converting one barrel of oil into refined products — declined to $6.39 per barrel from $8.34 per barrel a year earlier. Despite this, fuel consumption remained robust during the quarter, bolstered by strong industrial activity and activities related to the general elections, enhancing demand in Asia's third-largest economy. Invest in US Stock's at zero Brokerage and Withdrawal charges:  https://phon.pe/TI240723...

At the 'ELCIA Tech Summit 2024,' Murthy voiced doubts regarding India's capacity to match China's manufacturing dominance. He emphasized that significant advancements in this field for India hinge on enhanced government participation and public governance reforms. India's ambition to surpass China and emerge as a global manufacturing hub is fraught with substantial challenges, as per NR Narayana Murthy, the co-founder of Infosys. At the 'ELCIA Tech Summit 2024,' Murthy voiced his doubts about India's capacity to match China's manufacturing might, emphasizing the need for government intervention and enhancements in public governance for India to achieve meaningful advancement in this domain. He advised against prematurely adopting lofty designations such as "hub" and "global leader." "China has already established itself as the world's factory. Approximately 90% of items found in supermarkets and home depots abroad are pro...

  The Rs 7,100 crore deal will allow UltraTech to more effectively serve the Southern markets and widens its journey towards a capacity of over 200 MTPA. UltraTech Cement, India's largest cement manufacturer, announced on Sunday its intention to acquire a 32.72 percent stake in India Cements from its promoters and their associates. The deal, valued at Rs 3,954 crore, will initiate an open offer that could increase UltraTech's total expenditure to Rs 7,100 crore if it is fully accepted.  Following the execution of share purchase agreements and the receipt of regulatory approvals, UltraTech, owned by the Aditya Birla Group, will disburse Rs 3,954 crore at Rs 390 per share to acquire the stake in India Cements. This transaction will also necessitate a mandatory open offer at the identical price of Rs 390 per share. "UltraTech will proceed with the open offer after receiving all necessary regulatory approvals," stated UltraTech in its announcement. Last month, UltraTech i...

  Bhavish Aggarwal's Ola Electric is set to launch the anchor book for its highly anticipated IPO on August 1. According to the red herring prospectus submitted to the exchanges, the issue will be open to the public from August 2 to August 6. The proposed timeline suggests that the firm, poised to be the first Indian EV two-wheeler company on Dalal Street, may list on August 9, according to various sources from the web. Invest in US Stock's at Zero subscription and withdrawal charges, click here to download the app:  https://phon.pe/TI2407232224499405957186 On July 24 that Ola Electric aims to raise approximately $740 million through a mix of a fresh issue and an offer for sale, seeking a post-money valuation of between $4 billion and $4.25 billion. The company is in competition with TVS Motors, Bajaj Auto, and Ather Energy. More than 45 Crore+ people in India use this app to pay, click here to download the app:  https://phon.pe/g5hv9bd4 The investment banks handling the ...

  IndiGo, the country's largest airline, saw its operational revenue increase by 17.3 percent to Rs 19,570 crore, up from Rs 16,683.1 crore in the same period last year. Indigo's Q1 Results: Interglobe Aviation Limited reported a net profit decline of 11.7% to ₹2,728 crore for the April-June quarter of the fiscal year 2024-25, down from ₹3,090.6 crore in the corresponding quarter of the previous year, as per the Bombay Stock Exchange filing on Friday, July 26. The carrier's operational revenue saw a 17.3% increase to ₹19,570.7 crore for the first quarter of the fiscal year 2024-25, up from ₹16,683.1 crore in the same period last year. For the quarter, IndiGo reported that its passenger ticket revenues reached Rs 16,501.9 crore, marking a 10 per cent year-over-year increase. Ancillary revenues were at Rs 1,763.4 crore, showing a rise of 13.9 per cent compared to the same period last year. Invest in US Stocks at Zero subscription and withdrawal charges click here to download ...

  On Tuesday, Finance Minister Nirmala Sitharaman raised the standard deduction for salaried individuals from ₹50,000 to ₹75,000. The latest Union Budget 2024 has brought about substantial changes in the taxation of capital gains and the rationalization of TDS rates. Finance Minister Nirmala Sitharaman has raised the standard deduction for salaried individuals from ₹50,000 to ₹75,000 and the family pension deduction for pensioners from ₹15,000 to ₹25,000. These changes will benefit around four crore salaried individuals and pensioners, allowing them to save up to  ₹  18,200 annually.   Tax savings for each income group: Income: ₹10 lakh Existing tax regime: Tax = ₹54,600 New tax regime: Tax = ₹44,200 Savings: ₹10,400 Income: ₹15 lakh Existing tax regime: Tax = ₹1,45,600 New tax regime: Tax = ₹1,30,000 Savings: ₹15,600 Income: ₹20 lakh Existing tax regime: Tax = ₹2,96,400 New tax regime: Tax = ₹2,78,200 Savings: ₹18,200 Income: ₹25 lakh Existing tax regime: Tax = ₹4,5...

  The 2024 budget did not generate much enthusiasm for the Indian smartphone market, although it did offer some promising aspects that seem poised to aid in the industry's growth. Nonetheless, Indian consumers anticipating reduced prices for new models are likely to be disheartened. Industry experts have indicated that the recent amendments to the basic customs duty on mobile phones and components are unlikely to enable manufacturers to extend the benefits of the reduction to the end consumer. Customs duties apply to imported phones, which is pertinent for brands like Apple and Google that import their fully-assembled devices from abroad. Will the iPhone 15 Pro and Pixel 8 Pro models see a price reduction in the country following these changes? "The decrease in BCD on smartphones, chargers, and PCBAs will not significantly affect smartphone prices. An average price reduction of 1 to 2 percent might be expected from this action, but it ultimately depends on whether the OEMs dec...

 The IT sector has witnessed a remarkable surge in share prices, with the Nifty IT index nearing a 50% mark in just two sessions. This sudden rally has been driven by a combination of factors, including improved earnings outlook, strong deal pipeline, and favorable currency trends. Major IT players like TCS, Infosys, and HCL Technologies have led the charge, with their shares gaining sharply in recent days. Investors are optimistic about the sector's growth prospects, driven by increasing demand for digital transformation and cloud services. The weak rupee has also boosted the sector, making exports more competitive and increasing revenue. This has been a key factor in the rally, as IT companies generate a significant portion of their revenue from international clients. Invest in US (American) stocks at Zero! subscription and withdrawal charges :  https://phon.pe/TI2407232224499405957186 Despite concerns over valuations, the sector's strong fundamentals have driven investor in...

  The Union Budget 2024 has introduced significant changes to the income tax slabs and rates, aiming to simplify the tax structure and provide relief to taxpayers. The new tax regime has six income slabs, with tax rates ranging from 5% to 39%. The tax exemption limit has been increased to ₹3 lakhs, benefiting low-income earners who will not have to pay taxes up to this amount. This move is expected to boost disposable income and consumption. The new tax regime also introduces a standard deduction of ₹50,000 for salaried individuals, reducing their taxable income and resulting in lower tax liabilities.   The highest tax rate of 39% will apply to individuals with an annual income above ₹20 crores, targeting high-net-worth individuals. The new tax structure is designed to reduce compliance burdens and promote ease of doing business. It eliminates the complexity of multiple tax slabs and rates, making it easier for taxpayers to understand and comply with the tax laws. The changes ...

 Sanstar Limited's Initial Public Offering (IPO) has garnered significant attention in the financial market. An IPO is a critical step for companies, marking their transition from private to public entities, and Sanstar's offering has been eagerly anticipated. Sanstar Limited is a prominent player in its industry, known for its impressive performance and growth potential. The company's decision to go public is seen as a strategic move to raise capital, enhance its market presence, and provide liquidity to its existing shareholders. The IPO subscription has been robust, with investors showing keen interest in the company's shares. This enthusiastic response is a testament to Sanstar's financial health, growth prospects, and industry reputation. The strong subscription numbers indicate a high demand for the company's shares, which is expected to translate into a successful listing. Checkout for exciting clothing products: http://stopover.store/@larus Sanstar'...

 Amazon's Prime Day sale, which started on July 20, 2024, offers amazing deals and discounts across various product categories. This annual shopping event is exclusively available to Amazon Prime members, who can enjoy significant savings on electronics, gadgets, furniture, and more. One of the most exciting aspects of Prime Day is the discounts on smartphones. Top brands like Samsung, Google, and OnePlus are offering attractive deals on their latest models, making it an excellent opportunity for those looking to upgrade their devices. Laptop buyers are also in for a treat, with discounts available on popular models from HP, Lenovo, and Asus. Whether you're a student, professional, or gamer, you can find a laptop that suits your needs at a discounted price. Tablet users can enjoy deals on Apple iPads, Samsung Galaxy Tabs, and Amazon's own Fire HD 10. These devices are perfect for reading, browsing, and streaming, and the discounts make them even more appealing. Smartwatch e...

 Microsoft, a technology giant, experienced a widespread outage on July 18, 2024, affecting various services, including Azure, Microsoft 365, and Outlook. This outage had far-reaching consequences, impacting multiple sectors and causing disruptions to businesses and individuals alike. The outage was attributed to a software issue, which triggered a cascade of problems across Microsoft's services. As a result, many users were unable to access their accounts, leading to frustration and disruption to their work and daily activities. One of the most significant impacts was on the aviation industry, with some flights grounded due to the outage. Air travel relies heavily on technology, and the disruption caused significant delays and inconvenience to passengers. The financial sector was also affected, with stock exchanges and trading platforms experiencing difficulties. This led to market disruptions, causing concern among investors and traders. Banks and online banking services were imp...

  The Rise of Ola Maps: Ola, a ride-hailing giant in India, launched its own mapping service, Ola Maps, in an attempt to challenge Google Maps' dominance in the Indian market. Ola Maps offers developers free access for the first year, aiming to be a more cost-effective alternative. Google Maps Responds: In response to Ola Maps' free offering, Google Maps slashed its prices for developers in India by 70%. This strategic move suggests Google's intent to retain its position as the leading maps provider in the country. Focus on Localization: Ola Maps emphasizes catering to the specific needs of Indian users. This includes factors like addressing the unique challenges of navigating Indian roads and cities. Google Maps, on the other hand, offers a comprehensive suite of features with global coverage. The Battle for Indian Users: The competition between Google Maps and Ola Maps is likely to benefit Indian users in the long run. Both companies will strive to offer improved features...