Kolkata-based ITC, a big company with many businesses, announced that it will officially split its hotel services into a new company called ITC Hotels starting January 1, 2025. Earlier this month, a court in Kolkata agreed to this separation. The new company will be ready after all required documents are submitted to the local government office in West Bengal and all other rules are followed. Stay tuned for more updates!
Author: Supriya Jena
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SBI Clerk Recruitment 2024: Apply for 13,735 Junior Associate Jobs
The State Bank of India (SBI) is looking to hire new Junior Associates for the year 2024! A total of 13,735 jobs are available for those who want to work at SBI. This is a great opportunity for anyone interested in starting a career in banking.
Who Can Apply?
– Candidates should be at least 20 years old and not older than 28 years.
– You need to have a degree from a recognized university.
– Good communication skills are a plus!How to Apply:
– You can apply online through the SBI official website. Just fill out the application form and pay the fee. Make sure to check all the rules before you apply.Important Dates:
– The application process starts on [insert start date] and ends on [insert end date]. Don’t miss your chance!What’s Next?
After applying, you will need to take a test. If you do well, you could be selected for an interview!Don’t wait too long! Gather your documents and get ready to apply. This could be your chance to join one of the biggest banks in India!
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Varun Beverages Acquires Lunarmech: Stock Rises, Profits Surge!”
Shares of Varun Beverages, the bottling partner for PepsiCo, rose by 1.7% to Rs 657 on the BSE after they announced an important purchase. The company has officially bought 39.93% of Lunarmech, making it a fully owned part of Varun Beverages.
In a report released on December 16, 2024, Varun Beverages confirmed that they completed this deal around 1:47 PM IST. They had announced the plan to buy this stake back on November 12, 2024, when their board approved a share purchase agreement for Rs 200 crore (which is about 2,000 million rupees).
Previously, they had moved to acquire the remaining shares of Lunarmech Technologies, which is now completely owned by them. At a recent board meeting that lasted from 4:45 PM to 5:20 PM, they discussed and approved this share purchase deal.
In more good news, Varun Beverages reported a significant increase in profits. Their net profit grew by 22.3% to Rs 628.83 crore in the third quarter that ended in September 2024. Their revenue also jumped by 24.1% to Rs 4,804.68 crore in the same period.
Overall, Varun Beverages’ shares have increased by 48% over the last year and by 31% just this year, showing strong growth in the market.
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Reliance Industries Struggles in 2024: Future Challenges and IPO Plans
2024 hasn’t been a good year for Reliance Industries (RIL). People are worried because RIL’s shares are likely to end the year with losses, which hasn’t happened in almost ten years. The company’s value dropped by more than Rs 4.4 lakh crore since it peaked in July, with shares falling about 21% from their highest point of Rs 1,608.95.
In the past, RIL had great years, like a 70.55% return in 2017. But things slowed down in 2021 with just 19.32%, and it got worse: 7.60% in 2022 and only 1.44% last year. This year looks even worse due to slow earnings impacted by a tough economy.
Challenges for Reliance Retail
Reliance Retail (RR) also faced many problems this year, especially in the fashion sector. The company needed to close 1,185 stores and isn’t making enough money, even though more people are visiting the stores. Competition from quick delivery companies has made it harder for RR.
However, analysts like Jefferies believe RR remains a strong player and should focus on better opportunities to attract more investors. They still recommend RIL as a good investment with a target price of Rs 1,700.
What’s Next for RIL?
Another brokerage, JPMorgan, says RIL looks good compared to other high-priced stocks. To boost its shares, RIL needs better earnings, especially from its retail branch. Since RR is valued less than its competitors like DMart, any rise in its value could help RIL’s stock price.
RIL’s growth used to come from investing in refineries and chemicals, but now, RR and Telecom bring in about half of RIL’s profits. RIL is expected to make positive cash flow in the future and aims to keep its debts low.
Mukesh Ambani, once worth $120.8 billion, sees his wealth fall to about $96.7 billion. He is now focusing on digital services, retail brands, and green energy for future growth.
Future IPOs
Ambani plans to list Jio on the stock market in 2025, which could be worth over $100 billion. However, an IPO for the retail section may come later, depending on how the company handles its internal problems.
Despite facing many challenges in the retail market, Reliance is still moving forward with plans like a partnership with Walt Disney for a big media company in India and working with Nvidia to build AI technology. RIL remains valuable, but the oil sector problems have affected its stock prices
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Vijay Diwas Controversy: India and Bangladesh Clash Over History
On December 16, which is known as Vijay Diwas in India, Prime Minister Narendra Modi made a social media post that upset some people in Bangladesh. This day celebrates the contributions of Indian soldiers in helping Bangladesh gain independence in 1971.
Bangladesh’s law advisor, Asif Nazrul, disagreed with Modi’s post. He pointed out that December 16 is actually Bangladesh’s Victory Day. Nazrul stated on Facebook that while India supported Bangladesh during the war, it was ultimately Bangladesh’s victory. He said, “I strongly protest. December 16, 1971, was the Victory Day of Bangladesh. India was an ally of this victory, nothing more.”
In his post, Modi honored the bravery of the soldiers, saying, “Today, on Vijay Diwas, we honor the courage and sacrifices of the brave soldiers who contributed to India’s historic victory in 1971.” He praised their dedication, saying their actions brought honor to India and will inspire future generations.
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Vedanta’s Rs 8.5 Dividend Announcement: Key Highlights and Insights
Vedanta, a major company, is making headlines as its board has approved a new dividend of Rs 8.5 per share for the financial year 2024-2025. This means that the total payout will be around Rs 3,324 crore! The date for shareholders to qualify for this dividend is set for December 24, 2024.
On Monday, Vedanta’s share price closed at Rs 513.50 on the NSE, which was a drop of Rs 6 or 1.15% from the last trading day. So far in the financial year 2025, Vedanta has given out a dividend totaling Rs 35 per share. Over the past year, this adds up to Rs 46 per share in total dividends.
The last time Vedanta paid a dividend was Rs 20 per share on September 10, 2024. This followed dividends of Rs 4 on August 2, 2024, and Rs 11 on May 24, 2024.
In its latest financial report, Vedanta announced a profit of Rs 5,603 crore for the three months ending in September 2024. This is a huge improvement compared to a loss of Rs 915 crore during the same time last year! However, their revenue decreased by 4% year-on-year, totaling Rs 37,171 crore, down from Rs 38,546 crore last year.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for this period were Rs 9,828 crore, with profit margins at 26.1%. Vedanta also achieved record-high aluminum production of 609 kilotonnes in the second quarter, which is a 3% increase from last year. The cost of producing aluminum fell by 4% to $1,734 per tonne, while alumina production rose by 8% to 499 kilotonnes.
Arun Misra, the Executive Director of Vedanta, said that the second half of this year will be exciting as important growth projects are getting ready to start.
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Gold Steady Before Key Interest Rate Decisions This Week
Simplified Rewritten Article
Gold Prices Hold Steady Ahead of Important Rate Decisions This WeekGold prices are staying the same as everyone waits to hear about big decisions on interest rates from central banks. Interest rates are the costs of borrowing money, and they can affect how people buy gold.
This week, key meetings will be held, where leaders will discuss if they will change interest rates or keep them the same. Changes in interest rates can influence gold prices because when rates go up, gold can become more expensive to hold since it doesn’t earn any interest. Conversely, if rates go down or stay low, gold can become more appealing as an investment.
Traders and investors are watching closely to see what happens. The price of gold is currently around $1,875 per ounce, which is a strong position as it prepares for these decisions.
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Nasdaq Hits Record High as Fed Plans Rate Cut – What You Need to Know
On Monday, the Nasdaq stock market reached a new record high, and the S&P 500 also saw some gains. Investors are looking closely at the latest economic data and are excited about the Federal Reserve’s upcoming decision on interest rates, which will be announced on Wednesday.
Most investors believe a rate cut is very likely, with a 95.4% chance of a 0.25% drop. This means the Fed might lower rates to help support the economy. However, experts like Sam Stovall suggest that even with a cut, the Fed may still be cautious and might not plan many more cuts next year than some people expect.
In terms of economic health, the S&P Global reported a drop in manufacturing activity, with the latest numbers showing a reading of 48.3. This is lower than economists predicted and signifies potential issues as higher tariffs could raise prices on imported materials next year.
On the market front, the Dow Jones Industrial Average fell by 110.58 points (0.25%), closing at 43,717.48. Meanwhile, the S&P 500 went up by 22.99 points (0.38%) to reach 6,074.08, and the Nasdaq climbed by 247.17 points (1.24%) to 20,173.89. The Nasdaq has now seen four weeks of gains, while the Dow has dropped for eight straight days.
Prominent companies performed well, with Alphabet (Google’s parent company) rising by 3.6% and Tesla jumping by 6.1%. Tesla’s stock price target was recently raised to a record $515 by Wedbush Securities.
As investors await the Fed’s decision, they will also pay attention to retail sales data coming out on Tuesday to see how strong consumer spending is.
This year, the S&P 500 has grown more than 27% due to optimism around companies benefiting from artificial intelligence, the Fed’s expected rate cuts, a strong economy, and anticipated business-friendly policies from Donald Trump’s upcoming administration.
Honeywell International’s stock rose by 3.7% after they revealed plans to consider separating their aerospace business. Among the stocks traded, more declined than advanced on the NYSE, while there were more advances than declines on the Nasdaq.
Overall, the S&P 500 saw 14 new highs and 18 lows, with the Nasdaq recording 112 new highs and 193 new lows. The total volume of shares traded was 15.33 billion, compared to the average of 14.04 billion shares in the last 20 trading days.
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Nifty and Sensex Drop: Why Volatility Is Here to Stay
On Monday, the Nifty and Sensex dropped by almost half a percent. This small dip was not surprising, as both indices had recently risen quite a bit. However, the overall situation in the market was better than it used to be during past drops. Many stocks were still doing well even when the main indices fell. Will the market stay shaky? The answer is yes. The last three months of the year often bring ups and downs in the market, making it a tricky time for investors
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Trump May Pardon Mayor Eric Adams Facing Bribery Charges”
Donald Trump, who is about to become president again, said he might think about helping Mayor Eric Adams from New York City, who is in trouble for bribery charges. During a press conference at his Mar-a-Lago estate on Monday, a reporter asked if Trump would support the former police officer. Trump simply replied that he would “look at” a pardon for Adams. This situation is developing, so stay tuned for more updates!