Saturday, September 19
Mumbai: Shares of Reliance Industries dropped over 3% on Monday as investors weighed the conglomerate's lower-than-expected Q1 earnings against analysts' positive outlook on stock after results. Stock ended at ₹1,428.6 on Monday, down 3.2%, capping gains in Sensex and Nifty, which ended 0.5% higher."Reliance shares had recently rallied on expectations of strong quarterly results and a potential IPO announcement for its telecom business," said Sumit Pokharna, VP, fundamental research, Kotak Securities. "But, the management's clarification the IPO is deferred to next year had earlier led to some correction, and combined with results below Street estimates, we saw some profit-booking." The stock has gone up about 17% so far this year, against Nifty's 5.7% gains. PAT in June quarter stood at
Mumbai: Short-term investors are making a clear choice in the private banking space: ICICI Bank over HDFC Bank, as the former lender's stronger performance in the June quarter, marked by healthy profit growth and resilient margins, puts it ahead of its rival. HDFC Bank, meanwhile, continues to grapple with post-merger challenges, including a high credit-deposit (CD) ratio, which has weighed on investor sentiment. A high credit-deposit ratio means deposits are not growing as fast as credit growth.While both banks have the best networks in the country, ICICI has an edge at this juncture, said analysts."ICICI Bank is reaping the rewards of a well-executed transformation, showing clarity and consistency, while HDFC Bank navigates a transitional phase post-merger," said Shrikant Chouhan, head,
Auto giant General Motors reported lower second-quarter profits Tuesday following a $1.1 billion hit from US tariffs but confirmed its full-year forecast.The results topped analyst estimates, but GM cautioned that profits in the second half of 2025 would be lower than in the first semester.The US automaker pointed to sales growth in North America where new and revamped trucks and sport utility vehicles sold briskly with solid pricing. GM was among the carmakers that benefited from a surge in demand this spring from consumers who wanted to beat US tariffs.Profits overall fell 35.4 percent to $1.9 billion year-on-year, while revenues dipped 1.8 percent to $47.1 billion.The tariff hit in the second quarter reflected that there were "minimal mitigation offsets," GM said in a slide presentation
U.S. Federal Reserve Chair Jerome Powell is a "numbskull" who has kept interest rates too high, but he will be out in eight months, President Donald Trump said at a news conference on Tuesday. "I think he's done a bad job, but he's going to be out pretty soon anyway. In eight months, he'll be out," he said from a meeting at the White House with Philippine President Ferdinand Marcos Jr. Powell's term as Fed chair runs through May 15, and he has repeatedly said he will not leave the post early. Eight months run until mid-March, and it was not immediately clear why Trump picked that time frame. Trump has been hammering at Powell for months for not cutting rates and has frequently raised the possibility of ousting him, while also saying that firing him would be "unlikely." On Tuesday Trump rep
With Coldplaygate on track to become one of the most viral moment of the year, you would think this is the first time in history that a CEO has gotten busted for having what certainly seems to be an inappropriate relationship with a subordinate.Well, let me tell you — this is far from the truth. As someone who covers corporate America, CEOs doing inappropriate things with inappropriate people has turned into its own mini-beat. Over time, I’ve learned a lot — too much! — about the indiscretions of those in charge. In some ways, the Andy Byron/Astronomer fiasco is a textbook case. But it also reveals the way our hyper-online world has transformed how CEOs — and company boards — need to think about the line between bosses’ public and private lives.There’s a reason CEOs who are
