Top headlines: Tata Digital's loss up 6x, India's to grow at 6% in FY24

Business Standard brings you the top headlines at this hour

Results preview: Non-financial companies stare at tepid Q3 earnings

Led by a sharp rise in the earnings of banks, the 50 companies comprising the Nifty are expected to report 10.5 per cent year-on-year (YoY) growth in their combined earnings during the October-December quarter (Q3FY23) as against just 1.7 per cent increase in the second quarter. Read more...

Pro-Bolsonaro rioters storm top govt offices, Supreme Court in Brazil

Supporters of former Brazilian President Jair Bolsonaro who refuse to accept his election defeat stormed Congress, the Supreme Court and presidential palace in the capital on Sunday, a week after the inauguration of his leftist rival, President Luiz Incio Lula da Silva.

Thousands of demonstrators bypassed security barricades, climbed on roofs, smashed windows and invaded all three buildings, which were believed to be largely vacant and sit on Brasilia's vast Three Powers Square. Read more...

Tata Digital loss up nearly 6x in 2022; revenue grew threefold, shows data

Tata Digital, the digital business unit of Tata Group, reported a loss of Rs 3,051.89 crore for 2021-22 (FY22), nearly 6x up from Rs 536.75 crore in the previous year, reveals data accessed by business intelligence platform, Tofler.

Revenue for FY22 jumped 3x per cent to Rs 15,979 crore, from 2020-21 (FY21) revenue of Rs 5,315.27 crore, said the company in its regulatory filings. Total expenses for the period were up over 200 per cent at Rs 19,316.3 crore, from Rs 6,069.4 crore in FY21. Read more...

Home-charging of 2-wheeler EVs may keep public charger demand low

The average utilisation of public chargers set up by companies to power electric vehicles per kWh capacity ranges from 5-25 per cent across India, say leading players in the business. The reason is that the electric vehicle (EV) revolution has been kicked off in the country primarily by two-wheelers (over 900,000 vehicles are registered and on the road with a penetration of over 4 per cent) and 80 per cent of them are charged at home. Read more...

Economists peg India's FY24 growth at 6% after advance estimates

Following the FY23 gross domestic product (GDP) advance estimates, economists have singled out the Indian economy’s relative resilience. They, however, warn about a slowdown in the coming quarters due to a likely recession in developed economies, and see GDP growth in FY24 at around 6 per cent.

“India’s economic growth continues to remain resilient despite an uncertain global backdrop marked by slowing growth, elevated inflation, tight financial conditions, and lingering geopolitical tensions. However, downside risks to growth from global headwinds have risen materially in recent months,” said Shubhada Rao, founder, QuantEco Research. Read more...