BUSINESS
Dec 2023 Witnesses 14-Month Low as Key Infrastructure Sectors Experience Slower Growth at 3.8%
Compared to the robust 7.9 percent growth in November and 8.3 percent in December 2022, the core sector, encompassing coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity, experienced a significant slowdown. The last recorded low was at 0.9 percent in October 2022.
Swiggy's FY23 Financials: Losses Expand to Rs 4,179 Cr Ahead of IPO, Revenue Surges by 45%
The cost of employee benefits also saw a notable rise, climbing by 25% to Rs 2,130 crore. Swiggy's restaurant technology platform Dineout, acquired in 2022 for approximately $150 million, generated Rs 77.5 crore in revenue but incurred an operating loss of Rs 176 crore during the financial year.
WGC Report Highlights Dip in India's Gold Demand Amidst Rising Prices
In the October-December quarter, Indian gold consumption further dropped by 4% to 266.2 tonnes. Despite increased sales of coins and bars for investment purposes, this rise was overshadowed by a notable decline in jewelry demand, according to the World Gold Council (WGC).
Microsoft Achieves Remarkable 33% Rise in Net Income as Gaming Investments Prove Successful
A significant development during this period was Microsoft's acquisition of gaming giant Activision Blizzard (NASDAQ: ATVI) on October 13, 2023. The impact of this acquisition is evident in the notable 61% surge in Xbox content and services revenue, with 55 points attributed to the influence of the Activision acquisition.
Zooom Airline Resumes Operations in India, Unveils New Routes to Ayodhya
The debut flight is set to utilize Bombardier CRJ 200ER aircraft for operations on the popular Delhi-Ayodhya route, renowned as one of the nation's premier spiritual tourism destinations, as per the airline's official statement.
Park Hotels Sets IPO Price Range at Rs 147-155
The floor price of Rs 147 reflects a price-to-earnings ratio of 53.45 times based on diluted earnings per share (EPS) for the fiscal year 2023, while the cap price of Rs 155 translates to a ratio of 56.36 times.
India Slashes Import Duty on Mobile Phone Components to 10%
The finance ministry officially notified the duty cut on January 30 for all goods used in the manufacture of cellular mobile phones, including components like battery covers, front, middle, and back covers, main lenses, screws, SIM sockets, and other mechanical items.
Elon Musk’s $56 bn pay package is unfair, deeply flawed, says US judge
The original package, approved by shareholders in 2018, involved 20.3 million stock option awards divided into 12 tranches of 1.69 million shares each.
Google Reports Impressive $307 Billion Revenue in 2023, Investments in Workforce Restructuring Reach Billions
Ruth Porat, Chief Financial Officer of Alphabet, highlighted a strong fourth quarter, with consolidated revenues reaching $86.3 billion, a 13% increase from the previous year. Search remained the largest contributor to revenue growth during this period.
Market Rebounds Strongly Following Initial Weak Start
During the early trading session, the 30-share BSE Sensex saw a decline of 243.07 points to 70,896.83, while the Nifty slipped 73.25 points to 21,448.85.
Don't Miss
Advertisement