Costs

Net profits of manufacturing companies surged by 50.2 percent during 2021-22, the input cost pressures notwithstanding, the Reserve Bank of India said on Friday. Net profit also increased for the information technology (IT) companies, whereas the non-IT services sector continued to record losses at the aggregate level, it said. The data on the performance of the private corporate sector during 2021-22 drawn from abridged financial results of 3,166 listed non-government non-financial (NGNF) companies. Operating profit margins remained healthy for all the three sectors. Net profit margins remained stable for manufacturing and IT companies, whereas it remained in the negative terrain for non-IT services companies. The data further showed that private corporate sales and profitability recorded healthy growth in during 2021-22 as the effects of the Covid-19 pandemic subsided and economic activities recovered, especially in the second half of the year. "Sales of 1,865 listed private … [Read more...] about Manufacturing companies see 50.2% surge in FY22 net profit despite costly raw materials

Borrowing costs of Indian states are likely to rise in the coming weeks as the Reserve Bank of India ’s (RBI) rate hike cycle becomes more entrenched and the supply of state papers rises, money market experts and bankers told Moneycontrol on June 27. A majority of those expect the yield on the 10-year state development loan (SDL) to rise above 8 percent in the coming weeks. “In the first quarter of this fiscal year, supply of debt was limited. But in the second half of this fiscal year, we expect state debt supply to rise and that should put upward pressure on (state) bond yields,” said Ritesh Bhusari, deputy general manager, treasury, at South Indian Bank. To put in perspective, the cut-off yield for 10-year SDL ranged from 7.83 percent to 7.86 percent at an auction on June 21, according to data from the RBI. Prior to that, at an auction on June 14, Tamil Nadu’s 10-year paper was sold at a cut-off yield of 7.94 percent, while Haryana’s 10-year bond was sold at 7.95 percent. … [Read more...] about States’ borrowing cost set to rise on higher debt supply, RBI’s rate cues, experts say

(Image: Shutterstock) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Mahindra & Mahindra Ltd (M&M) is likely to report a year on year growth of about six times or 520 percent in standalone profit after tax to Rs 1,000 crore for the quarter ended March today. Sequentially, PAT is seen declining 25 percent due to higher cost of raw materials and other expenses as well as lower other income. Revenue for the Mumbai based automaker is expected to grow 26 percent on year to Rs 16,880 crore aided by increase in volumes, higher realisations and improved product mix in favour of better priced sports utility vehicles (SUV). The company had reported a standalone PAT of Rs 162.5 crore during the corresponding period in the previous financial year while achieving a revenue of Rs 13,338 crore. PAT was impacted by an exceptional … [Read more...] about M&M Results Preview | Profit to decline 25% sequentially on higher costs

Share to Twitter Share to Linkedin It’s well established that urban environments are going to be home to the majority of the world’s population in the coming decades. While extreme weather is causing floods, droughts and wildfires, it’s also going to have significant effects on urban living. The increasing temperatures the media is discussing, from heat waves across India, the US, Spain and Germany, Doha at 49°C or Jacobabad at 51°C, mean that we must find new ways to protect city dwellers from the worst impacts of a changing environment. According to Lauren Sorkin, executive director of the Resilient Cities Network, cities have the potential to address climate change but they need a rethink in terms of how they keep people safe and build in equity and resilience. Sorkin argues we also need to agree on a common set of risks – and be honest about the level of risk we face. It’s important to remember that cities themselves are major infrastructure investors and … [Read more...] about As Climate Change Threatens Mounting Urban Costs, Is Biomimicry The Way Forward?

- A + A BANGKOK (June 27): A tightening of Thai monetary policy will be conducted so it does not disrupt the recovery of Southeast Asia's second-largest economy, central bank officials said on Monday, reinforcing market expectations of interest rate hikes later this year. Thailand's economy will continue growing this year and next, driven by domestic demand and tourism, and could beat forecasts despite a risk that inflation will be higher than expected, Bank of Thailand (BOT) officials told an analysts' meeting. The BOT will try to prevent the economy from overheating, which would cause demand-driven inflation, by gradually shifting from the current very accommodative policy, assistant governor Piti Disyatat told the meeting. The BOT's task was to help the economy take off smoothly, he said. "It's a challenge for monetary policy to release the accelerator pedal appropriately and timely so that the recovery has good momentum," Piti said, referring to the current … [Read more...] about Thai central bank says policy tightening will not disrupt economy recovery

- A + A JAKARTA (June 27): A former Garuda Indonesia chief convicted of graft is being investigated for alleged irregularities in procuring Bombardier and ATR planes, Indonesia's attorney general said on Monday, in deals the state auditor said led to $600 million in losses. Emirsyah Satar, the flag-carrier's chief executive from 2005 to 2014, was sentenced to eight years in prison in 2020 for bribery and money laundering in buying planes and engines from Airbus and Rolls-Royce . The U.S. Department of Justice and Britain's Serious Fraud Office are also investigating suspected bribery related to sales of jets by Canadian plane maker Bombardier to Garuda between 2011 and 2012. "This was his responsibility in carrying out the work during his tenure," Attorney General Sanitiar Burhanuddin told a news conference. Satar could not immediately be reached for comment. Indonesian state auditor BPKP found Garuda paid an inflated price for 23 Bombardier CRJ and ATR 72 … [Read more...] about Indonesia names jailed ex-Garuda chief a suspect in new graft case

This article first appeared in The Edge Financial Daily, on April 1, 2020 . - A + A Silver Ridge Holdings Bhd (-ve) TRADING of shares in Silver Ridge Holdings Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our momentum algorithm yesterday for the second time this year. The counter closed unchanged at 42 sen, with 4.5 million shares traded, over three times its 200-day average volume of 1.23 million shares. Year-to-date, the counter has risen some 45% from 29 sen on Dec 31 last year. The group is principally involved in the provision of IT products and services. It posted a turnaround for its second quarter ended Dec 31, 2019, with a net profit of RM46,000 compared to a net loss of RM1.27 million a year ago, on the back of downsizing and cost reduction measures implemented. Revenue, however, fell 47% to RM3 million from RM5.63 million due to the lower recognition value of certain completed projects in hand, and no new substantial contracts … [Read more...] about Stock With Momentum: Silver Ridge Holdings

This article first appeared in The Edge Financial Daily, on March 31, 2020 . - A + A Euro Holdings Bhd (-ve) TRADING of shares in Euro Holdings Bhd (fundamental: 0.35/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the fourth time this year. The counter closed eight sen or 25.4% higher at 39.5 sen, with 11.04 million shares traded, over six times its 200-day average volume of 1.77 million shares. The group is principally engaged in the design, manufacturing and trading of its own brand of chairs, system furniture, storage and accessories. For the fourth quarter ended Dec 31, 2019, the group’s net loss almost doubled to RM4.18 million from RM2.18 million for the corresponding period last year, mainly due to higher cost incurred and a provision for late delivery by the property division. Quarterly revenue fell 32% to RM18.16 million from RM26.6 million, due to lower property completion rates and lower sales owing to … [Read more...] about Stock With Momentum: Euro Holdings

This article first appeared in The Edge Financial Daily, on April 1, 2020 . - A + A Sanichi Technology Bhd (+ve) TRADING of shares in Sanichi Technology Bhd (fundamental: 1.2/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year. The counter closed half a sen or 10% lower at 4.5 sen, with 76.4 million shares traded, over six times its 200-day average volume of 12.24 million shares. The loss-making company continued to bleed in its fourth quarter ended Dec 31, 2019 with a net loss of RM1.34 million — its fifth straight quarterly loss — albeit at a smaller volume compared with RM11.04 million a year ago, due to lower operating costs from cost-controlling measures implemented. Revenue for the quarter also jumped more than three times to RM12.53 million from RM3.53 million a year ago, as revenue recognition in its property development segment picked up. For the full year ended Dec 31, 2019, the company’s net … [Read more...] about Stock With Momentum: Sanichi Technology

This article first appeared in The Edge Financial Daily, on April 21, 2020 . - A + A Ho Wah Genting Bhd (+ve) The company’s share price closed 2.33% or half a sen higher at 22 sen. Some 15.24 million shares were traded during the day, over 11 times the counter’s 200-day average trading volume of 1.32 million shares. Last Thursday, the company announced to Bursa Malaysia that it had inked a memorandum of understanding (MoU) with a Chinese company principally engaged in the research and development, manufacture, and distribution of pharmaceutical products to explore the possibility of a collaboration. The MoU was inked by its wholly-owned HWG Consortium Sdn Bhd with Shijiazhuang Yiling Pharmaceutical Co Ltd (SYP). Under the MoU, HWG Consortium is authorised to register SYP’s products in Malaysia on behalf of SYP, with the cost of such registration to be reimbursed by SYP. … [Read more...] about Stock With Momentum: Ho Wah Genting