Business

European major Airbus has shortlisted eight sites in India to set up its final assembly line for H125 helicopters and the ground-breaking ceremony for the facility is expected to take place later this year.Airbus officials said the facility, which will be the fourth final assembly line (FAL) for the single-engine H125, will initially produce 10 helicopters annually and the capacity will be increased depending on market demand."India is the future market for helicopters... Currently, the market is extremely nascent, very small compared to what the potential could be," said Oliver Michelon, executive vice president, Global Business, Airbus Helicopters.The foundation stone laying ceremony for FAL is expected to take place in October or November this year and the facility will be commissioned...

Reliance Industries Ltd (RIL) has reported 5.45 percent decline in net profit at Rs 15,138 crore during the quarter ended June 2024 compared to Rs 16,011 crore during the same period a year ago due to weak O2C business and higher depreciation. Was. On a sequential basis, net profit declined 20.12 percent to Rs 18,951 crore in the March 2024 quarter.RIL's total income rose 11.90 percent to Rs 240,200 crore during the June 2024 quarter from Rs 214,644 crore a year ago.The company's oil-to-chemicals (O2C) EBITDA was down 14.3 percent due to lower gasoline cracks (-30 percent) and lower downstream chemical deltas, particularly PE (-17 percent), PP (-16 percent). ) and integrated polyester margin (-15 percent). Depreciation increased 15.5 percent to Rs 13,596 crore ($1.6 billion) due to expand...

The rupee on Thursday weakened by 6 paise to close at 83.64 (provisional) against the US dollar as the strength of the US currency in the overseas market and overnight rise in crude oil prices weighed on investor sentiments.Forex traders expect the rupee to trade with a slight negative bias due to the strong US dollar and weak Asian and European currencies. The US dollar strengthened while the pound weakened amid disappointing UK labor market data.However, positive domestic markets and foreign fund inflows somewhat mitigated the decline in the domestic unit. At the interbank foreign exchange market, the local unit opened at 83.57, and touched an intraday high of 83.55 and low of 83.66 against the dollar during the trading session.It finally closed at 83.64 (provisional) against the US cur...

BJAUT reported stable Q1 (revenue/EBITDA growth of 16%/24% YoY; 20.2% EBITDA margin, aided by 50bps of PLI gain). Domestic 2W prospects are good, although BJAUT's position has now fallen (even in 125cc motorcycles); The reaction to the newly-launched CNG motorcycle needs to be monitored. MGMT is guided to make export recovery gradual, and its focus on Triumph is to build brand awareness. However, valuations remain expensive (trades close to 2SD above LTA, at 28x per FY26E).outlookWe raise FY26E EPS by ~2.6% (higher margin) and raise FY27 estimates (13% FY24-27E EPS CAGR); We retain REDUCE and revise TP to Rs8,300/sh (rollover from core 23x multiple to Jun-26E) + Rs900 cash and investments/sh. Amid growth/rerating triggers (successful Xtreme 125R launch) and attractive risk-reward, we pref...

Dealers' body FADA on Monday said that automobile retail sales grew by 9 percent year-on-year in the June quarter of FY25, with all segments except tractors registering increment. Total retail sales increased to 61,91,225 units in the April-June period from 56,59,060 units in the same quarter of FY24. Passenger vehicle retail sales rose 2.53 percent to 9,20,047 units from 8,97,361 units a year ago. He said dealers reported significant impacts from the election, extreme heat and liquidity issues in the market. Singhania said showroom footfalls declined 18 percent in May due to extreme heat, with inventory levels reaching a 62-67-day high by the end of June. He said that "Despite substantial discounts aimed at increasing product availability and growing demand, market sentiment rem...

State Bank of India (SBI) has increased its marginal cost of lending rates (MCLR) by 5 to 10 basis points (bps) for most tenures from today, July 15. Shares of State Bank of India, India's largest public sector bank (PSB), are trading at ₹868.00, up 0.97 percent from its previous close. SBI MCLR increase MCLR on overnight lending period increased by 5 bps to 8.10 percent.MCLR on loan tenure of one month increased by 10 bps to 8.35 percent.MCLR on loan tenure of three months increased by 10 bps to 8.40 percent.MCLR on loan tenure of six months increased by 10 bps to 8.75 percent.MCLR on loan tenure of one year increased by 10 bps to 8.85 percent.MCLR on loan tenure of two years increased by 10 bps to 8.95 percent.MCLR on loan tenure of three years increased by 5 bps to 9.00 percent.L...

Personal income tax collections are overtaking corporate tax collections, with cumulative net direct tax collections rising by nearly 20 percent to Rs 5.74 lakh crore during the period April 1 to July 11 of the current financial year (2024-25), Income Tax Department said in a statement late Friday night. Personal income tax collections continue to exceed corporate tax collections, with Securities Transaction Tax (STT) collections more than doubling to Rs 16,634 crore in FY20. Direct taxes essentially include personal income tax and corporate tax. STT collections, which are counted in the overall personal income tax collections, have increased due to the sharp increase in stock market trading activity. In FY24, STT collection from April 1 to July 11 was Rs 7,285 crore.Personal income ta...