OTAKUBAY

Covid-19 disrupted the functioning of the world and exposed the vulnerabilities and pain points in the global supply chains. Shortage of workforce, lack of warehousing space, and long and complex supply chains, are few of the many problems the logistics sector faced. All major global companies are already working towards addressing these problems. They are using technology to automate the processes, reconfiguring complex supply chains, and finding an alternative to China in their supply chain. In India, the government is investing heavily to expand its road, rail, and port connectivity. With initiatives such as goods and service tax (GST) and National Logistics Policy (NLP), it further aims to strengthen supply chains across the country. The National Logistics Policy aims at improving India's trade competitiveness, create more jobs, and build a cost-efficient logistics ecosystem in India. This bodes well for the organised logistics companies in India . Furthermore, India is o

Covid-19 disrupted the functioning of the world and exposed the vulnerabilities and pain points in the global supply chains. Shortage of workforce, lack of warehousing space, and long and complex supply chains, are few of the many problems the logistics sector faced. All major global companies are already working towards addressing these problems. They are using technology to automate the processes, reconfiguring complex supply chains, and finding an alternative to China in their supply chain. In India, the government is investing heavily to expand its road, rail, and port connectivity. With initiatives such as goods and service tax (GST) and National Logistics Policy (NLP), it further aims to strengthen supply chains across the country. The National Logistics Policy aims at improving India's trade competitiveness, create more jobs, and build a cost-efficient logistics ecosystem in India. This bodes well for the organised logistics companies in India . Furthermore, India is o

Shares of HCL Technologies climbed 3.5 per cent in morning trade on Friday after the IT company posted 10.85 per cent increase in consolidated net profit for March quarter 2022-23. The stock advanced 3.49 per cent to Rs 1,073.85 on the BSE. At the NSE, it jumped 3.51 per cent to Rs 1,074. The stock was the biggest gainer among the Sensex and Nifty components during the morning trade. HCL Technologies after market hours on Thursday posted 10.85 per cent increase in consolidated net profit at Rs 3,983 crore for the March quarter 2023. The company had posted a net profit of Rs 3,599 crore for the same period a year ago. "HCL Tech reported Q4 performance that was in line on revenue, margin and guidance," a report by Institutional Equities, HDFC Securities said. The company's revenue from operations rose by about 18 per cent to Rs 26,606 crore during the period from Rs 22,597 crore in March 2022 quarter. "HCL Tech results have not disappointed," said V K Vija

Business software maker SAP reported first-quarter revenue growth of 10% on Friday, beating expectations, boosted by its cloud business. The German firm's IFRS operating profit fell 45%, reaching 803 million euros ($879.93 million) by the end of March, while group revenue was at 7.4 billion euros. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) source https://www.ndtv.com/business/sap-registers-revenue-growth-of-10-in-q1-3967027

Business software maker SAP reported first-quarter revenue growth of 10% on Friday, beating expectations, boosted by its cloud business. The German firm's IFRS operating profit fell 45%, reaching 803 million euros ($879.93 million) by the end of March, while group revenue was at 7.4 billion euros. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) from NDTV Profit-Latest https://ift.tt/cXtKJIA via

The rupee gained 1 paisa to 82.16 against the US dollar in early trade on Friday, tracking a weak greenback against major currencies and positive sentiment in the domestic equities market. Forex traders said downward movement of crude oil prices also supported the local unit. At the interbank foreign exchange, the domestic unit opened strong at 82.11 against the dollar and hit the lowest level of 82.17 before trading at 82.16, registering a rise of 1 paisa over its previous close. On Thursday, the rupee closed at 82.17 against the US currency. Participants were also cautious due to expectations of further interest rate hike by the US Federal Reserve and other central banks. "Upside hopes were abandoned as soon as USDINR turned below 82.2. Look for bounce back today as long as 81.97 holds, but the 82.4 objective now appears far. Towards this end, expect selling pressure on first entry into the 82.15-82.20 region," Anand James, Chief Market Strategist at Geojit Financial S

Observing that the more India grows, the better it is for India, for the United States, and for the world, Biden Administration's point person for South Asia on Thursday said that the US wants to be part of New Delhi's economic miracle. One of the fastest-growing major world economies for the past several years despite the global economic downturn, India, which is now a USD 3 trillion economy, has now set an ambitious goal of becoming a USD 10 trillion economy in a decade and a developed country by 2047. "We want to be part of your economic miracle," Assistant Secretary of State for South and Central Asian Affairs Donald Lu told PTI in an interview on Thursday. "We strongly support India's goal to grow its economy in an inclusive way. The more India grows, the better it is for India, for the United States and for the world. A prosperous India will have more resources to help address global problems like climate change and future pandemics," Lu said in

Indian buyers have opted to cancel 75,000 tonnes of palm oil purchases for the first time in many years and switch to rival soft oils, such as sunflower oil and soyoil, five industry officials told Reuters. Palm oil usually trades at a discount to soft oils, but import restrictions by top producer Indonesia have helped to push palm oil to a premium, making sun oil and soyoil more attractive to buyers. This has prompted some Indian buyers to reduce purchases of palm oil for May shipments and increase soft oil imports. They can do this via mutual agreements with importers to cancel the sales - a process known locally as a "wash out". This allows a buyer to sell back a product to the seller based on a pricing formula that includes the prevailing market price. Lower palm oil imports by India, the world's biggest buyer of vegetable oils, could weigh on Malaysian palm oil prices, but support soyoil and sunflower oil prices. A few buyers decided to opt for a wash out becaus

Business conglomerate Tata Group has sought the competition regulator's approval for a merger between its Air India airline and Vistara, the company's joint venture with Singapore Airlines (SIA). The merger, announced in November, will create a stronger rival to India's dominant carrier IndiGo and help SIA solidify its foothold in one of the world's fastest-growing aviation markets. Tata will hold 51% of the total issued and paid-up equity share capital of the merged entity while SIA will own a 25.1% minority stake, according to a filing on the Competition Commission of India's website on Wednesday. Air India, founded by JRD Tata in 1932 and nationalised in 1953, was returned to the control of the Tatas in January last year. Once known for its lavishly decorated planes and stellar service, Air India's reputation declined in the mid-2000s as financial troubles mounted. Tata Group Chairman N Chandrasekaran said in November that the merger was an important mile

Business conglomerate Tata Group has sought the competition regulator's approval for a merger between its Air India airline and Vistara, the company's joint venture with Singapore Airlines (SIA). The merger, announced in November, will create a stronger rival to India's dominant carrier IndiGo and help SIA solidify its foothold in one of the world's fastest-growing aviation markets. Tata will hold 51% of the total issued and paid-up equity share capital of the merged entity while SIA will own a 25.1% minority stake, according to a filing on the Competition Commission of India's website on Wednesday. Air India, founded by JRD Tata in 1932 and nationalised in 1953, was returned to the control of the Tatas in January last year. Once known for its lavishly decorated planes and stellar service, Air India's reputation declined in the mid-2000s as financial troubles mounted. Tata Group Chairman N Chandrasekaran said in November that the merger was an important mile