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AstraZeneca Shares Slide Despite Strong 2023 Financials

AstraZeneca posted strong financial results for 2023, including $45.8 billion in revenue and a gross profit of more than $37.5 billion. Still, its sha

AstraZeneca posted strong financial results for 2023, including $45.8 billion in revenue and a gross profit of more than $37.5 billion. Still, its shares fell by about 4% on the London Stock Exchange. The corporation made a point of highlighting how much of its sales came from cancer medications. Investors, however, did not appear thrilled, maybe due to the company missing fourthquarter profit estimates explained by higher research expenditures and lower margin sales in emerging regions. Although there is hope for cancer and rare illness treatments, AstraZeneca has to maintain growth in the face of shifting market conditions. Furthermore, the companys foray into developing obesity drugs complements its strategic efforts with the decline in demand for its COVID19 vaccination. Pascal Soriot, the CEO, is nevertheless upbeat about the potential for future development. Read More..

B2B Tech News | 6 days ago        

India Nears Historic Free Trade Agreement with European Free Trade Association

India and the European Free Trade Association EFTA, comprised of Switzerland, Norway, Iceland, and Liechtenstein, are finalising a historic free trade

India and the European Free Trade Association EFTA, comprised of Switzerland, Norway, Iceland, and Liechtenstein, are finalising a historic free trade agreement FTA. Following sixteen years of discussions, this agreement provides improved market access in exchange for a substantial investment in India that might total up to $100 billion over fifteen years. Investment assurances are included, but once final negotiations occur, it is clear if they will be binding. The agreement intends to stimulate private sector investments and increase bilateral commerce, particularly with Switzerland, which might create over a million jobs. Indias pursuit of several trade agreements, such as those with the UK, EU, and Australia, highlights the need for strategic economic diversification in the face of shifting global supply chains away from China. Read More..

B2B Tech News | 6 days ago        

U.S. Pledges Additional Funding to Enhance Metal Exports from Central Africa

The United States commits further finance to the Lobito Corridor, enabling Zambia and other countries in Central Africas Copperbelt to export copper.

The United States commits further finance to the Lobito Corridor, enabling Zambia and other countries in Central Africas Copperbelt to export copper. Amos Hochstein, the US energy ambassador, emphasises how crucial it is to avoid South Africas logistical roadblocks for exports of copper and cobalt, which are essential to the energy revolution. With plans for additional investment, a group led by Trafigura, MotaEngil, and Vecturis SA was able to acquire a 30year railway services concession. Hochstein said that $250 million will be allocated for the Angola phase, and he expects a comparable amount for the Zambia phase. The project, supported by over $1 billion raised with partners including the Africa Finance Corporation, intends to have operational rail by 2028. Read More..

B2B Tech News | 6 days ago        

Zomato Hits New 52Week High as Q3FY24 Net Profit Soars 283%

In the wake of Zomato Ltd.s impressive results in the quarter ended December 2023, the companys shares shot up to a new 52week high of Rs 151.45. The

In the wake of Zomato Ltd.s impressive results in the quarter ended December 2023, the companys shares shot up to a new 52week high of Rs 151.45. The companys net profit increased by an astounding 283% from quarter to quarter, from Rs 36 crore to Rs 138 crore during the same time last year. Because of Zomatos remarkable rise in operating revenue, positive adjusted EBITDA, and substantial success in its quickcommerce subsidiary, Blinkit, most analysts are optimistic about its future. Jefferies continues to recommend the company as a "buy," estimating that over the following years, delivery revenue would expand at a compound annual growth rate of 25% to 30%. Kotak Institutional Equities highlights Zomatos rising margins and steady growth trajectory to support its optimistic outlook. Read More..

B2B Tech News | 6 days ago        

LICs Standalone Net Profit Surges 49% in Q3FY24, Shares Soar Over 6%

After LIC announced a 49% yearoveryear increase in standalone net profit for Q3FY24, hitting Rs 9,444 crore, the companys shares shot up more than 6%.

After LIC announced a 49% yearoveryear increase in standalone net profit for Q3FY24, hitting Rs 9,444 crore, the companys shares shot up more than 6%. LIC is now the fourth most valuable domestic listed firm, with a market valuation of about Rs 7.43 lakh crore, thanks to this development. From the stocks March 2023 52week low, it has increased by about 120%. Additionally, LIC announced an interim dividend of Rs 4 per share, the first since the companys May 2022 Dalal Street launch. Important growth indicators were new business value and Annual Premium Equivalent APE. In contrast, GNPA declined, and the solvency ratio increased. AUM increased 11.98% YoY to Rs. 49.66 lakh crore. Read More..

B2B Tech News | 6 days ago        

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 | 11 days 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 | 11 days 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 | 11 days ago        



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