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Tata Consumer Products Quarterly Earnings Report Surpasses Expectations Despite Profit Dip

Following the release of the companys quarterly results report, traders are expected to watch Tata Consumer Products Ltd TCPL shares on Thursday. TCPL

Following the release of the companys quarterly results report, traders are expected to watch Tata Consumer Products Ltd TCPL shares on Thursday. TCPL reported betterthanexpected sales across all three categories, with a 10% yearoveryear rise despite a 17.3% yearoveryear reduction in net profit. Substantial operational success was shown by the 26% yearoveryear increase in EBITDA. With a target price of ₹1,305 per share, global brokerage firm Morgan Stanley kept its Overweight rating on TCPL despite its sales exceeding projections across all segments. With improvements in market share across several categories, TCPL witnessed a notable margin boost, primarily due to its Indiabranded food and beverage division. Notably, it maintained its market leadership in tea, and its ecommerce sales accounted for 10.7% of the companys India business. Read More..

B2B Tech News | 2 months ago        

Cohesity Acquires Veritas Data Protection Business in $7 Billion Deal

Cohesity, a provider of data security software, revealed on Wednesday that it had acquired Veritas data protection division for a reported $7 billion.

Cohesity, a provider of data security software, revealed on Wednesday that it had acquired Veritas data protection division for a reported $7 billion. With this transaction, Cohesity, backed by SoftBank Group, hopes to combine $1.6 billion in annual sales while expanding worldwide and achieving positive growth margins. Sanjay Poonen, the CEO, emphasised the benefits of combining AI innovation with rapid development and profitability. The agreement refutes rival Rubriks purported IPO intentions. Cohesity, which has funding from Haveli, Premji Invest, and Madrona, provides AIpowered software to help with data management and protection. Greg Hughes, the CEO of Veritas, will join the board, and Carlyle Group will roll over its investment, valuing Veritas business at over $3 billion. By years end, the acquisition is expected to be finalised. Veritas will create a new company to handle its remaining operations. Read More..

B2B Tech News | 2 months ago        

Nvidias 40% Surge in 2024 Places It Close Behind Amazon and Alphabet in Market Value

After a spectacular 40% increase in 2024, Nvidias market capitalization reached $1.715 trillion, putting it just 3% below the value of Amazon $1.767 t

After a spectacular 40% increase in 2024, Nvidias market capitalization reached $1.715 trillion, putting it just 3% below the value of Amazon $1.767 trillion and less than 6% behind Alphabet $1.812 trillion. This increase indicates Wall Streets increasing excitement in artificial intelligence, with Nvidia emerging as a significant supplier of AI solutions. The bullish report from Morgan Stanley, which increased Nvidias price target to $750, bolstered investor confidence even further. Nvidia is one of the most valuable firms in the US stock market thanks to its supremacy in AI technology and the significant demand for its graphics processors from IT giants like Meta Platforms. Read More..

B2B Tech News | 2 months ago        

Paytm CEO Engages with Indian Officials to Address Regulatory Concerns, Stock Jumps

Following the news that Paytms CEO had met with Indias finance minister and central bank to discuss regulatory issues over the companys payments bank

Following the news that Paytms CEO had met with Indias finance minister and central bank to discuss regulatory issues over the companys payments bank operations, Paytm shares PAYT.NS jumped to 10%. The stock has been declining since January 31 due to the Reserve Bank of Indias order to stop accepting new deposits at Paytm Payments Bank beginning in March. Nonetheless, investor confidence was bolstered by announcing continued talks with regulatory bodies. Paytm requests clarification on licence transfers for its Fastag service and wallet business and an extension of the deadline. Analysts observe that investors understand the importance of Paytms payment operations and expect measures to be taken to ensure a seamless transition. Read More..

B2B Tech News | 2 months ago        

DBS Group DBSM.SI Beats Expectations with 2% Increase in Q4 Net Profit

The biggest bank in Singapore, DBS Group DBSM.SI, announced a 2% rise in net profit for the fourth quarter, exceeding forecasts and keeping projection

The biggest bank in Singapore, DBS Group DBSM.SI, announced a 2% rise in net profit for the fourth quarter, exceeding forecasts and keeping projections for net interest income at levels similar to last year. Notwithstanding expected declines in interest rates and global unrest, CEO Piyush Gupta voiced confidence in maintaining performance. By 2024, the bank hopes to achieve doubledigit growth in fee income and a return on equity ROE of 15% to 17%. DBS expects more robust earnings due to higher interest rates, even if the fullyear Net Interest Margin NIM is forecast to be slightly below the fourth quarters 2.13%. However, growth may decelerate amid central bank rate reduction and market volatility. The bank suggested a 1for10 bonus issue and a final dividend of 54 cents per share. Read More..

B2B Tech News | 2 months ago        

Fortinet Surges 10.4% in Extended Trading After Beating Q4 Profit Expectations

Fortinets fourthquarter profit surpassed analyst estimates, primarily due to rising business cybersecurity investment in the face of growing cyber thr

Fortinets fourthquarter profit surpassed analyst estimates, primarily due to rising business cybersecurity investment in the face of growing cyber threats. Following the news, the companys shares increased 10.4% in extended trade. While Fortinet was smaller than industry titans like Palo Alto, its diverse portfolio drew a sizable clientele. Compared to LSEG forecasts of 43 cents per share, adjusted earnings were 51 cents per share. Benefits for the quarter included delayed income from agreements that closed during the quarter and a moderate seasonal budget flush. Six agreements totalling more than $10 million were closed, according to CFO Keith Jensen. Revenue for the first quarter of 2024 is expected to range from $1.30 billion to $1.36 billion, slightly less than experts had predicted. Nevertheless, fourthquarter sales exceeded analysts average expectation of $1.41 billion, reaching $1.42 billion. Read More..

B2B Tech News | 2 months ago        

Sumitomo Mitsui Banking Corp Appoints Carsten Stoehr as Deputy Head for Asia Pacific

The central banking unit of Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corp SMBC, has appointed Carsten Stoehr, a former CEO of Credit S

The central banking unit of Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corp SMBC, has appointed Carsten Stoehr, a former CEO of Credit Suisse for Greater China, as its deputy head for the Asia Pacific region. Before Credit Suisses merger with UBS in March 2023, Stoehr worked there for over 25 years. He will oversee structured lending and private wealth businesses from Singapore across the APAC region in his new position. Stoehr will report to SMBCs regional coheads. Read More..

B2B Tech News | 2 months ago        

Reserve Bank of Australia Keeps Rates Steady at 4.35% as Inflation Remains a Worry

The Reserve Bank of Australia RBA, the countrys central bank, has maintained interest rates at 4.35%. The decision, which was expected, was made in th

The Reserve Bank of Australia RBA, the countrys central bank, has maintained interest rates at 4.35%. The decision, which was expected, was made in the context of worries about inflation, which is still high even if it somewhat decreased in the fourth quarter. The Reserve Bank of Australia said that before it considers changing interest rates, it wants further proof of sustained inflation. Since May 2022, the bank has increased interest rates by 425 basis points to combat persistently rising inflation nevertheless, new data on the economy and consumer expenditure pointed to a deteriorating economy. Due to the decision, the Australian currency gained strength, and futures currently indicate a 36% chance of a rate decrease in June. Read More..

B2B Tech News | 2 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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