Hindalco Industries beat analyst estimates on all fronts as its consolidated net profit doubled to a record Rs 3,851 crore for the quarter ended March 31. The earnings were driven by a strong performance in the India business, supported by favourable macros, strategic product mix and an improved performance by the downstream business. The company’s […]
The Centre on Thursday called off the process for the strategic disinvestment of BPCL and said the expressions of interest (EoIs) received in this connection “shall stand cancelled.” The plan to sell its entire 52.98% stake in the fuel retailer-cum-refiner had hit dead-end as potential investors have turned more sceptical of “the lack of pricing […]
Tom Keene, Jonathan Ferro and Lisa Abramowicz have the economy and the markets “under surveillance” as they cover the latest in finance, economics and investment, and talk with the leading voices shaping the conversation around world markets. This show is simulcast worldwide on Bloomberg Television and Radio. ——– Follow Bloomberg for business news & analysis, […]
Real estate developers and other entities are back to buying land parcels, with 28 separate land deals transacted in just the first five months of 2022, cumulatively accounting for over 1,237 acres across the country. This has doubled in the last one year, as the January-June period of 2021 saw just 14 land deals for […]
Piramal Enterprises (PEL) has posted a consolidated net profit of Rs 151 crore for the quarter ended March 31, compared with a net loss of Rs 510 crore recorded during the same period a year ago. The diversified group with presence in financial services and pharmaceuticals had a tax impact Rs 218 crore in the […]
Bloomberg Surveillance: Early Edition, live from London and New York. Francine Lacqua, Anna Edwards, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. Takeshi Niinami, Suntory Holdings President, says a US recession is coming. Chris Turner, ING Global Head of Markets, says the […]
Broadcom agreed to buy cloud-computing company VMware for about $61 billion in one of the largest technology deals of all time, turning the chipmaker into a bigger force in software. Liana Baker reports on “Bloomberg Markets: The Close.”
To keep the momentum of government spending, the finance ministry has allowed all ministries to utilise the unspent portion of the funds released to them in a quarter in the subsequent quarter. The flexibility can be availed by the ministries and departments in the first quarter of a financial year after intimating the budget division […]
Matt Miller and Kriti Gupta highlight the market-moving news you need to know heading into the opening bell on Wall Street. Stocks continuing to rebound from the lowest levels in over a year as solid outlooks from retailers bolstered confidence in the economy despite supply-chain and inflationary pressures. CreditSight’s Winnie Cisar, Hightower’s Patrick Fruzzetti and […]
Secretary of State Antony Blinken said the US will seek to influence China’s behavior by shaping “the strategic environment around Beijing” in a speech that took direct aim at President Xi Jinping’s performance in leading the world’s second-biggest economy. He spoke at the Asia Society Policy Institute in Washington, D.C.