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Indian Benchmark Indices Extend Gains for Third Day Amid Easing West Asia Tensions
Indian benchmark indices, Sensex and Nifty, extended gains for a third consecutive day on April 23, driven by easing fears over the West Asia conflict and a sharp drop in volatility. Analysts anticipate continued bullish undertones due to ongoing Lok Sabha elections and the corporate earnings season.
UltraTech Cement Reports 17% Profit Rise in Q1FY27 Amid Volume and Revenue Growth
UltraTech Cement announced a 17% YoY increase in Q1FY27 consolidated net profit to Rs 2,599 crore, with revenue up 16% to Rs 24,648 crore. Growth was driven by higher cement volumes, improved realisations, and strong performance in ready-mix concrete and construction chemicals.
HSBC IFSC Offers 19x Leverage on FCNR(B) Deposits for NRIs, Highlighting Risks and Benefits
HSBC Bank's IFSC unit in GIFT City offers Non-Resident Indians up to 19x leverage on FCNR(B) deposits, enabling significantly amplified returns. While this strategy can boost profits, experts warn of substantial risks if borrowing costs, particularly SOFR, exceed deposit interest rates. FCNR(B) deposits also provide protection against Indian Rupee depreciation.
India's Textile Sector: Opportunity Amidst Execution Challenges
India's textile sector is poised for a multi-year upcycle driven by China+1 sourcing and trade deals. However, a 360 One Capital report cautions that sustained export gains depend on improving manufacturing scale, productivity, technical capability, and disciplined execution to overcome past failures and compete globally.
Accenture Splits Salary Hikes Between Base Pay and Lump Sum
Accenture is expanding salary increases to more employees, splitting the hike equally between base pay and a one-time lump sum in June. This strategy aims to reward staff and manage payroll costs, with promotions still receiving full base pay increases.
Reliance Retail to Rapidly Scale Online Business, Targets 2x Operating EBITDA by FY29
Reliance Retail plans rapid online business scaling, dark store expansion, and JioMart investment, aiming for 2x Operating EBITDA by FY28-29. This strategy focuses on improving unit economics, margins, and cash generation through enhanced omni-channel capabilities and private labels.