Practo, a health-tech platform, reported a 22% revenue growth to Rs 240 crore for 2023-24 and achieved a GMV of Rs 3,500 crore. The company reduced its losses to Rs 17 crore from Rs 99 crore the previous year and achieved its first profitable quarter in the last quarter of 2023-24.
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Post Office Savings Schemes in India offer secure investment options with assured returns and tax benefits under Section 80C of the Income Tax Act. The schemes, including PPF, NSC, SSY, SCSS, and 5-year POTD, allow tax exemptions up to Rs 1.5 lakh per annum under the old tax regime.
Wholesale price inflation accelerated in December to 2.4% annually due to rising prices of some manufactured products and non-food items. Food articles inflation eased slightly to 8.5%, with vegetables at 28.7%. Potato inflation surged to 93.2%. Manufactured product prices increased by 2.1%.
Warren Buffett reassures Berkshire Hathaway shareholders about its $321.4 billion cash reserves. Buffett emphasizes future strategic investments in equities and significant stakes in Japan's trading giants. Berkshire Hathaway's total market value exceeded $1 trillion in 2024 due to long-term reinvestment and compounding returns. Operating earnings rose significantly in 2023. Buffett highlights reinvestment over dividends.
Analysts have issued varying ratings on major companies like Tata Motors, GMR Airports, HAL, Bharti Airtel, and Vodafone Idea, underlining prospects based on recent developments. Factors such as expected tariffs, new orders, profitability forecasts, and government support significantly influence these ratings, indicating trends in the market.
India's IT sector has shifted towards automation, leading to a collective net headcount reduction of 2,587 in the December quarter. Major firms like TCS, Wipro, and Tech Mahindra saw workforce declines. Experts believe this trend will continue, with the IT sector adding fewer employees compared to the previous year. Increasing revenue productivity has decreased the need for headcount growth.
In Q2 FY25, the microfinance industry contracted, with delinquency rates increasing to 4.3%, driven by defaults in loans overdue by 30 to 180 days. The industry's portfolio decreased, and measures were discussed to advocate a credit guarantee scheme, operational funds for Northeast India, and improvements in financial practices, governance, and cybersecurity.
The US Federal Reserve could cut rates three or four times this year if inflation data cooperates, with a first cut possible before July, a senior bank official said Thursday. Asked about the timing of cuts, Waller said if the data came in as he expected, it was "reasonable" to think rate cuts could come in the first half of the year.
Microsoft-backed OpenAI's chief Sam Altman is planning a trip to India on February 5, which may include meetings with government officials. This visit comes amidst ongoing legal challenges in the country, including a lawsuit over copyright breaches filed by a news agency and supported by several media outlets.
The National Company Law Tribunal (NCLT) ordered disciplinary action against the resolution professional handling Byju's insolvency case due to misconduct. The tribunal reinstated Glas Trust and Aditya Birla Finance to the Committee of Creditors, emphasizing the resolution professional's failure to act with integrity and fairness.
Russian oil exports to India have dropped 25% in February amid sanctions, while US shipments surged nearly 100%. The overall Middle East exports to India for February might be lower than the initial 20-day average, as loadings typically decrease in the latter half of each month.