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As the companies have maintained the product prices in a muted demand setting despite the easing raw material prices, the gross margin delivery has been better than expected in the second quarter

FMCG Q2 Results: Subdued growth of margin-led earnings amid muted demand

<h2>As the companies have maintained the product prices in a muted demand setting despite the easing raw material prices, the gross margin delivery has been better than expected in the second quarter</h2>

FMCG Results:&nbsp;The Fast Moving Consumer Goods (FMCG) companies witnessed a subdued growth of margin-led earnings in overall topline during the July-September quarter of FY24. As per Emkay Global Financial Services, the impact on sales growth of FMCG companies in Q2FY24 was largely due to the festive loading shifting to Q3.
<h3>Rural vs Urban Market</h3>
The Rural market has recovered on a low base, however the demand rebound is missing. According to brokerage firm Emkay Global Financial Services, Urban market continues to do well due to accelerated growth in the modern trade and ecommerce channels.
Compared to Home and Personal care categories, Food and Beverages sector continues to grow. The companies have also managed to maintain the product prices in a muted demand setting despite the easing raw material prices. This has led to a better than expected gross margin delivery.&nbsp;
Emkay report further adds that for a continued recouping of margin ahead, the companies must extend the benefits of raw materials. As the margins led earnings story is&nbsp; largely at play, the sector's valuations are holding up on the hope of demand recovery in H2FY24 and thus aiding double digit earnings ahead.
&ldquo;While we see continued recouping of margin ahead, recovery in demand may require players to pass-on raw-material benefits for accelerating volume growth. Q2FY24 results do not give us enough reason to change our stock calls, but we reduce topline for FY24E due to muted demand," the report said.
The brokerage has also given a buy rating on &nbsp;Godrej Consumer Products, Dabur India, Britannia Industries, ITC and Emami among the FMCG stocks. It has given Sell rating on Colgate-Palmolive India and a &lsquo;Hold&rsquo; rating on Hindustan Unilever and Marico.
&nbsp;

Budget's big numbers: ₹45 lakh crore, ₹27 lakh crore, 5.9% - earning, spending, fiscal deficit estimates

The FM further said India continues to be on the path of fiscal consolidation targeting to achieve a 4.5 per cent fiscal deficit of GDP by 2025-26.&nbsp;

The fiscal deficit would be brought down to below 4.5 per cent by 2025-26, Finance Minister Nirmala Sitharaman said on Wednesday.
She also said that tax receipts for the next fiscal are budgeted at Rs 23.3 lakh crore and states would be allowed 3.5 per cent of GDP as fiscal deficit.
To finance the fiscal deficit in 2023-24, net market borrowing from dated securities is estimated at Rs 11.8 lakh crore, Sitharaman said while presenting the Union Budget for 2023-24 in the Lok Sabha.
She retained the fiscal deficit target of 6.4 per cent in the revised estimate for FY2022-23 and reduced it to 5.9 per cent for the next fiscal. The government had pegged the fiscal deficit at 6.4 per cent of the GDP for the current financial year.
The fiscal deficit or the gap between expenditure and revenue for 2022-23 is estimated to be Rs 16,61,196 crore. The country's fiscal deficit was projected higher at 6.9 per cent for 2021-22 as against the 6.8 per cent estimated earlier.
The Revised Estimates for 2021-22 indicate a fiscal deficit of Rs 15,91,089 crore as against the Budget Estimates of Rs 15,06,812 crore. &nbsp;The minister also announced a new savings scheme, Mahila Samman Savings Certificate, for two years to 2025 with a maximum deposit limit of Rs 2 lakh and an interest rate of 7.5 per cent.
She added that 50-year interest-free loans to state governments have to be spent on capital expenditure within 2023-24.
The minister announced that the monthly income scheme limit would be doubled to Rs 9 lakh and Rs 15 lakh for joint accounts. The finance minister said that indirect tax proposals would boost green mobility and electric vehicles (EVs).
&nbsp;

Rising covid in China, hawkish fed statements, disappointing TCS earnings - the markets face a sea of disappointing news. Here are the latest news headlines that are affecting the markets: China Covid Concerns The U.S. State Department ordered the departure of non-emergency American government employees and all family members from the Shanghai district due to a surge in Covid-19 cases. Vast majority of the city’s 25 million residents still subject to tight movement restrictions which keep them in their homes or compounds.Signals From Wall Street Everything from stocks and bonds is falling again. The S&P 500 fell 1.7% on Monday, while the Nasdaq 100 declined 2.4%, bringing losses for the tech index to over $1 trillion in the past five sessions.Inflation Worries Consumer price inflation to be released for the month of March today, economists see food price rise hitting a 16-month high as CPI is seen escalating to 6.3%. This would mark the third month of inflation over 6% - the RBI's tolerance zone. TCS EarningsHigh attrition continues to hit tech companies with Asia's largest outsourced software provider reported a 17% rate of attrition in the Jan-March quarter. This signals a higher rate of employees leaving as demand for tech skills remains at an all-time high. “Do No Exercise”
The National Stock Exchange (NSE) said on Monday said it is reintroducing the 'Do not Exercise' facility in stock options from April 28. The move is aimed at preventing mishaps during expiry of equity derivatives contracts in situations where traders are unable to meet their settlement obligations connected to physical delivery. This system has been brought back after being discontinued in October.


Business News Live: Nifty Outlook, TCS earnings, US Inflation, China Covid concern

Rising covid in China, hawkish fed statements, disappointing TCS earnings - the markets face a sea of disappointing news. Here are the latest news headlines that are affecting the markets: 


Stock Alert! TCS in focus; earnings today

The tech giant is expect to post a 2.5% jump in dollar revenue at $6.6 billion for the Jan-March quarter. and the street is also pricing in a 3% jump in profit at Rs 10050 cr vs the Oct-December quarter. 

Stock Alert! TCS Q4 preview; earnings today

Earnings season, the finale for FY'22 kicks off with TCS

TCS&nbsp;Q4 earnings latest news: Kick-starting the earnings season Asia&rsquo;s largest software outsourcing provider Tata Consultancy Services (TCS) reports earnings on Monday.&nbsp; Also read/watch&nbsp;|&nbsp;<a title="Elon Musk wants to mine Lithium, here is why" href="https://www.editorji.com/business-news/elon-musk-wants-to-mine-lithium-here-is-why-1649653612344" target="_blank">Elon Musk wants to mine Lithium, here is why</a> The tech giant is expect to post a 2.5% jump in dollar revenue at $6.6 billion for the Jan-March quarter and the street is also pricing in a 3% jump in profit at Rs 10050 cr vs the Oct-December quarter.&nbsp; What to watch for: Attrition rate which remains exceptionally high across IT services firms, client spending outlook; margin performance and outlook especially given the likely resumption in travel and supply-side pressures; and outlook on pricing. TCS that demands a Rs 13.49 lakh crore marketcap has underperformed the market year-to-date, the stock has given a -2.5% return while benchmark Nifty is up 1.5%. The software giant however has outperformed peer stock performances (Wipro -18%, Infosys&nbsp;-4%) backed by a large buyback.&nbsp;

Recent listing Paytm released it's first ever public earnings and found itself answering the same question since it's debut debacle - When will the company turn profitable?Paytm reported that losses widened in the July-September period to Rs 474 cr as as the newly-listed company struggled to make money off transactions which slowed during the pandemic.  Revenue rose more than 60% in the same period, boosted by growth in financial, commerce and cloud services.According to founder and chief executive Vijay Shekbar Sharma, the company’s business isn’t immediately set in stone, and some line items are “not just profit generating, but free cash flow generating.”Brokerages also sounding caution against the fintech with Macquarie reiterating UNDERPERFORM on the stock with a price target of 1200 (40% below issue price) and JM Financial also initiating a SELL on the stock with a price target of Rs 1245/share. 

Paytm posed question on profitability again as losses widen, Brokerages sound caution

Paytm Profit Karo! Analysts raise questions in call after losses widen

Paytm said its net loss for the three months to September 30 widened 8 per cent from a year earlier to Rs 474&nbsp;crore

Recent listing Paytm released it's first ever public earnings and found itself answering the same question since it's debut debacle - When will the company turn profitable? Paytm&nbsp;reported that&nbsp;losses widened in the July-September period to Rs 474 cr&nbsp;as&nbsp;as the newly-listed company struggled to make money off transactions which slowed during the pandemic.&nbsp;&nbsp;Revenue rose more than 60% in the same period, boosted by growth in financial, commerce and cloud services. According to founder and chief executive&nbsp;Vijay Shekhar Sharma, the company&rsquo;s business isn&rsquo;t immediately set in stone, and some line items are &ldquo;not just profit generating, but free cash flow generating.&rdquo; Brokerages also sounding caution against the fintech with Macquarie reiterating UNDERPERFORM on the stock with a price target of 1200 (40% below issue price) and JM Financial also initiating a SELL on the stock with a price target of Rs 1245/share.&nbsp;

Online beauty retailer Nykaa&nbsp;reported profit of Rs&nbsp;1.2 crore for the quarter ending September, 2021, down 95% from Rs 27 crore reported last year. Revenues however grew a healthy 47% to&nbsp;Rs 885.3 crore.&nbsp;Profit made under pressure as&nbsp;Nykaa's operating expenses grew 92% to Rs 349.4 crore, led by a 286% increase in marketing and advertisement expense to Rs 121.4 crore.FSN E-commerce Ventures, the parent company of Nykaa made its debut on the bourses&nbsp;last week&nbsp;and saw its shares nearly double on the first day to close at Rs 2,207 from its issue price of Rs 1,125.&nbsp;

Nykaa profit down over 90%, stock slides

What has led to Nykaa's big fall in profit? Stock slides as net profit slides 95%

Profit fall takes the sheen off of Nykaa's debut gains

Nykaa reported consolidated net profit of&nbsp;₹1.2 crore for the quarter ending September, 2021

Online beauty retailer Nykaa&nbsp;reported profit of Rs&nbsp;1.2 crore for the quarter ending September, 2021, down 95% from Rs 27 crore reported last year. Revenues however grew a healthy 47% to&nbsp;Rs 885.3 crore.&nbsp; Also read|&nbsp;<a title="Myntra top brass exits; After CEO even the CFO and CMO quit" href="https://www.editorji.com/business-news/myntra-top-brass-exits-after-ceo-even-the-cfo-and-cmo-quit-1636950960295">Myntra top brass exits; After CEO even the CFO and CMO quit</a>&nbsp; Profit came under pressure as&nbsp;Nykaa's operating expenses grew 92% to Rs 349.4 crore, led by a 286% increase in marketing and advertisement expense to Rs 121.4 crore. FSN E-commerce Ventures, the parent company of Nykaa made its debut on the bourses&nbsp;last week&nbsp;and saw its shares nearly double on the first day to close at Rs 2,207 from its issue price of Rs 1,125.&nbsp;

Foodtech start-up Zomato, delivered a&nbsp;net loss of Rs 434.9 crore for operations in July-September quarter. This is a significant jump from the&nbsp;loss of Rs 360.7 crore reported in the previous quarter.Here is what the managements saidDespite revenues which grew over 20% quarter-on-quarter Zomato's&nbsp;management stated,&nbsp;&ldquo;The company incurred higher losses because of investments in the growth of food delivery business.&rdquo;Zomato&nbsp;loss explainedThe company highlighted three reasons for the losses-:

Increased spending on branding and marketing
Growing share of smaller/emerging geographies (which are less profitable)
Hike delivery costs due to unpredictable weather and an increase in fuel prices.

Despite the losses Zomato&nbsp;ordered in investments in other startups.&nbsp;It will be investing around $75 million in Bigfoot Retail Solutions Pvt Ltd (Shiprocket) for an 8% stake and also $50 million for a 16% in&nbsp;Samast Technologies Pvt Ltd (Magicpin).And this is not the end of it, Zomato&nbsp;management told shareholders that they plan to deploy another $1 billion over the next 1-2 years, with a large chunk of it likely to go into the quick-commerce space.&nbsp;

Zomato delivers a larger loss and yet orders new startup investments

Zomato's shareholders get a loss delivered for the quarter gone by as fuel cost and marketing share surge. 

Zomato's loss widens over $400 cr, commits $1 billion to startup investments

Loss widens by 87% to Rs 430 crore&nbsp;even as revenue sees a big jump.&nbsp;

Foodtech start-up Zomato, delivered a&nbsp;net loss of Rs 434.9 crore for operations in July-September quarter. This is a significant jump from the&nbsp;loss of Rs 360.7 crore reported in the previous quarter. Here is what the managements said Despite revenues which grew over 20% quarter-on-quarter Zomato's&nbsp;management stated,&nbsp;&ldquo;The company incurred higher losses because of investments in the growth of food delivery business.&rdquo; Zomato&nbsp;loss explained The company highlighted three reasons for the losses-:
<ul>
<li>Increased spending on branding and marketing</li>
<li>Growing share of smaller/emerging geographies (which are less profitable)</li>
<li>Hike delivery costs due to unpredictable weather and an increase in fuel prices.</li>
</ul>
Despite the losses Zomato&nbsp;ordered in investments in other startups.&nbsp;It will be investing around $75 million in Bigfoot Retail Solutions Pvt Ltd (Shiprocket) for an 8% stake and also $50 million for a 16% in&nbsp;Samast Technologies Pvt Ltd (Magicpin). And this is not the end of it, Zomato&nbsp;management told shareholders that they plan to deploy another $1 billion over the next 1-2 years, with a large chunk of it likely to go into the quick-commerce space.&nbsp;

ICICI&nbsp;Bank shares surged almost 8% to Rs 818 in the opening session on Monday as the country's second-largest private bank reported a 30% jump in net profits for the September quarter.
Its asset quality improves significantly as the bank reported a 17 basis points decline in the net NPA&nbsp;ratio to 0.99% for the quarter gone by.&nbsp;
Brokerages remain bullish as they raised targets on ICICI&nbsp;Bank:
CLSA:&nbsp;The brokerage maintained a BUY call on the stock with a target price of Rs 1,100. CLSA&nbsp;noted that the bank has now consistently been delivering sector-best growth.
Credit Suisse:&nbsp;Rising core profitability along with lower credit costs are likely to drive return on equity higher, it said. The brokerage expects the stock to outperform with a target price of Rs 900.
Nirmal&nbsp;Bang: The brokerage has a BUY on the stock with a target price of Rs 886 ad it expects the stock to deliver a 15% return on equity.&nbsp;

ICICI Bank: Stock surges 8%; here's what brokerages are targeting at

ICICI Bank delivers a powerful second quarter; should you buy? See what brokerages have to say:

Firecracker Earnings, Diwali on Dalal Street thanks to ICICI 

Record high profit for ICICI&nbsp;Bank, Brokerages say 'table thumping moment' as the financial sector leader scripts a comeback.

Firecracker earnings for ICICI&nbsp;Bank has bought Diwali early for Dalal&nbsp;Street with the stock surging 8% and pushing the Bank Nifty to an all time high.&nbsp; Firecracker Earnings The country's second-largest private bank reported a 30% jump in net profits for the September quarter.
Its asset quality improves significantly as the bank reported a 17 basis points decline in the net NPA&nbsp;ratio to 0.99% for the quarter gone by.&nbsp;
Brokerages bet big
CLSA:&nbsp;The brokerage maintained a BUY call on the stock with a target price of Rs 1,100. CLSA&nbsp;noted that the bank has now consistently been delivering sector-best growth.
Credit Suisse:&nbsp;Rising core profitability along with lower credit costs are likely to drive return on equity higher, it said. The brokerage expects the stock to outperform with a target price of Rs 900.

Cognizant Tech as per reports has seen a 40% drop in profit and a 5% decline in revenue in FY'21 as per reports quoting Tofler&nbsp;as a data source.&nbsp;The Nasdaq-listed, New Jersey-based information technology services firm also revised its financial year guidance to 10.2 per cent to 11.2 per cent.&nbsp;Attrition has been a big problem for the tech firm.&nbsp;Quarterly attrition rose to 31 per cent in the quarter ended June 30, and the firm said it is looking to hire 100,000 lateral hires, along with thousands of people at the graduate level this year.
US headquartered Cognizant has a significant presence in India with about 2 lakh employees.
&nbsp;

Cognizant India's profit falls 40%, cuts guidance: reports

Cognizant filings spark concerns, tech firm cuts guidance even as profit drops 40%

Profit after tax fell 40 per cent to Rs 3,265 crore during the fiscal year

Cognizant Tech as per reports has seen a 40% drop in profit and a 5% decline in revenue in FY'21 as per reports quoting Tofler&nbsp;as a data source.&nbsp;The Nasdaq-listed, New Jersey-based information technology services firm also revised its financial year guidance to 10.2 per cent to 11.2 per cent.&nbsp; Attrition has been a big problem for the tech firm.&nbsp;Quarterly attrition rose to 31 per cent in the quarter ended June 30, and the firm said it is looking to hire 100,000 lateral hires, along with thousands of people at the graduate level this year.
US headquartered Cognizant has a significant presence in India with about 2 lakh employees.
&nbsp;

Food tech giant Zomato&nbsp;delivered mixed menu of earnings&nbsp; to it's investors as it reported a widening loss of Rs 356 cr in the first quarter. However shareholders of the mega debut IPO&nbsp;can take solace that the sales growth of the&nbsp;newly-listed company clocked in a jump of 26 per cent year-on-year to Rs. 1,160 crore for the reported quarter.
The total income of Zomato stood at Rs 916 crore&nbsp;which is a sizeable jump from a revenue of Rs 283.5 crore in the same period year ago. Infact the the gross order value of the business grew more than four-fold year-on-year to Rs. 4,540 crore in Q1 which is a 37% jump (QoQ). The widening loss figure can be attributed&nbsp;to non-cash ESOP expenses, which have increased meaningfully in Q1FY22 due to significant ESOP grants made in the quarter pursuant to the creation of a new ESOP 2021 scheme," Zomato chief executive officer (CEO) Deepinder Goyal said in a statement.Online food ordering firm Zomato&nbsp;also delivered its billionth order last week, co-founder and chief executive officer Deepinder Goyal said on August 10. Goyal&nbsp;said in a blog that&nbsp;"It took us six years to get to this milestone and we hope it takes us much less time to deliver the next billion. The fact that 10&nbsp;percent&nbsp;plus&nbsp;of these billion orders were delivered only in the last three months makes us confident about getting to the next billion much sooner."

Zomato Earnings Menu: Loss widens, 1 billion orders delivered, order value up 4 times

Zomato's net loss widens sharply in Q1, but is it still a hot stock for investors? What's on the plate for shareholders

Zomato's net loss widens

<h1 class="headline">Zomato Q1 net loss widens to Rs 356 crore; revenue rises to Rs 844 crore</h1>

Food tech giant Zomato&nbsp;delivered mixed menu of earnings&nbsp; to it's investors as it reported a widening loss of Rs 356 cr in the first quarter. However shareholders of the mega debut IPO&nbsp;can take solace that the sales growth of the&nbsp;newly-listed company clocked in a jump of 26 per cent year-on-year to Rs. 1,160 crore for the reported quarter.
Also watch:&nbsp;<a href="https://www.edtr.ai/a3wq" target="_blank">Is a Swiggy IPO out for delivery? SoftBank chief says can deliver returns like Zomato</a>
The total income of Zomato stood at Rs 916 crore&nbsp;which is a sizeable jump from a revenue of Rs 283.5 crore in the same period year ago. Infact the the gross order value of the business grew more than four-fold year-on-year to Rs. 4,540 crore in Q1 which is a 37% jump (QoQ). The widening loss figure can be attributed&nbsp;to non-cash ESOP expenses, which have increased meaningfully in Q1FY22 due to significant ESOP grants made in the quarter pursuant to the creation of a new ESOP 2021 scheme," Zomato chief executive officer (CEO) Deepinder Goyal said in a statement. Online food ordering firm Zomato&nbsp;also delivered its billionth order last week, co-founder and chief executive officer Deepinder Goyal said on August 10. Goyal&nbsp;said in a blog that&nbsp;"It took us six years to get to this milestone and we hope it takes us much less time to deliver the next billion. The fact that 10&nbsp;percent&nbsp;plus&nbsp;of these billion orders were delivered only in the last three months makes us confident about getting to the next billion much sooner."

Big bets coming in for Tech Mahindra as it clocks in the highest ever quarterly revenue and profits. Profit was up 25% while constant currency revenue growth was up almost 4%, the highest in over 6 quarters.&nbsp;Brokerages are betting bigger on the stock,&nbsp;CLSA&nbsp;has raised FY22/ FY23 EPS estimates by 3% each. The broking house says the risk-reward is favourable given a relatively inexpensive valuation. They retain a BUY rating and raise target price from Rs1,300 to Rs1,380.&nbsp;Tech Mahindra&nbsp;is currently trading at a fresh 52-week high.&nbsp;

Tech Mahindra: Brokerage raise bets as profit and revenues hit record high

Buzzing Stock Alert

CLSA raises earnings estimates over the next two financial years.&nbsp;

Big bets coming in for Tech Mahindra as it clocks in the highest ever quarterly revenue and profits. Profit was up 25% while constant currency revenue growth was up almost 4%, the highest in over 6 quarters.&nbsp; Brokerages are betting bigger on the stock,&nbsp;CLSA&nbsp;has raised FY22/ FY23 EPS estimates by 3% each. The broking house says the risk-reward is favourable given a relatively inexpensive valuation. They retain a BUY rating and raise target price from Rs1,300 to Rs1,380.&nbsp; Tech Mahindra&nbsp;is currently trading at a fresh 52-week high.&nbsp;

Even a $100 billion mark in revenues was not good enough for Amazon as the stock plunged as earnings missed estimates. The pandemic push for the e-commerce giant seems to be slowing as people get back to stores across the US.Amazon&rsquo;s revenue grew by 27% to $113.08 billion vs a 40% growth in the same period last year. The outlook was also not an upbeat one, the CFO told analysts, "We&rsquo;re starting to lap that and that&rsquo;s why you see some of the growth rate coming down.&rdquo;, adding that Amazon expects to see slower growth continue for the next few quarters.
For July-September quarter which would be Andy Jassy's&nbsp;first quarter as CEO,&nbsp;&nbsp;Amazon said it expects to book sales between $106-$112 billion which transaltes to a&nbsp;growth of 10% to 165 which is much below street estimates.Credit to the new CEO, Jassy&nbsp;managed unit of&nbsp;AWS&nbsp;saw revenue jump 37%&nbsp; the biggest year-over-year sales jump in two years. The company&rsquo;s &ldquo;other&rdquo; revenue category, primarily advertising sales, gained 87% to $7.92 billion.

Amazon pandemic push over? E-commerce earnings miss the mark ; AWS & ad revenues soar

Is the pandemic push for e-commerce giant Amazon over? E-commerce giant misses to deliver earnings in line with street estimates.&nbsp;

Amazon ecommerce earnings miss the mark

Pandemic-fueled rapid growth starts to wane for the biggest online retailer as customers return to stores.AWS&nbsp;revenues continue to soar

Even a $100 billion mark in revenues was not good enough for Amazon as the stock plunged as earnings missed estimates. The pandemic push for the e-commerce giant seems to be slowing as people get back to stores across the US. Amazon&rsquo;s revenue grew by 27% to $113.08 billion vs a 40% growth in the same period last year. The outlook was also not an upbeat one, the CFO told analysts, "We&rsquo;re starting to lap that and that&rsquo;s why you see some of the growth rate coming down.&rdquo;, adding that Amazon expects to see slower growth continue for the next few quarters.
For July-September quarter which would be Andy Jassy's&nbsp;first quarter as CEO,&nbsp;&nbsp;Amazon said it expects to book sales between $106-$112 billion which transaltes to a&nbsp;growth of 10% to 165 which is much below street estimates. Credit to the new CEO, Jassy&nbsp;managed unit of&nbsp;AWS&nbsp;saw revenue jump 37%&nbsp; the biggest year-over-year sales jump in two years. The company&rsquo;s &ldquo;other&rdquo; revenue category, primarily advertising sales, gained 87% to $7.92 billion.

It was a blockbuster earning from world's most valuable tech company Apple as&nbsp;iPhone sales&nbsp;increased nearly 50% and overall sales were up 36% beating analysts' estimates across the board. Yet, the stock took a beating as the outlook did not connect as well.&nbsp;Apple though did not give a formal earnings guidance warned shareholders that the July-September quarter may not be as robust due to prevailing chip shortage. Apple CEO Tim Cook said in a call with analysts that Apple is seeing supply constraints related to &ldquo;silicon&rdquo; ( computer chips) that would affect the company&rsquo;s iPhone and iPad sales in the September quarter.

Apple reports stellar earnings but chip shortage to play havoc from here on

Blockbuster earnings by Apple but fails to enthuse shareholders as global chip shortage to play spoilsport in coming quarter.&nbsp;

Global Chip Shortage Hits Apple

Apple shares fell after executives warned that chip supply constraints could impact iPhones and iPads this quarter

It was a blockbuster earning from world's most valuable tech company Apple as&nbsp;iPhone sales&nbsp;increased nearly 50% and overall sales were up 36% beating analysts' estimates across the board. Yet, the stock took a beating as the outlook did not connect as well.&nbsp; Read/Watch Also:&nbsp;<a href="https://www.edtr.ai/9yw9">When is the iPhone&nbsp;13 coming?</a> Apple though did not give a formal earnings guidance warned shareholders that the July-September quarter may not be as robust due to prevailing chip shortage. Apple CEO Tim Cook said in a call with analysts that Apple is seeing supply constraints related to &ldquo;silicon&rdquo; ( computer chips) that would affect the company&rsquo;s iPhone and iPad sales in the September quarter.

Google reported earnings well above Wall Street estimates as the search-and-services company posted revenues of $61.9 billion in the April-June quarter.&nbsp;The big surge came in from advertising&nbsp;Google ad revenue increased to $50.44 billion, up 69% from the year-ago quarter. Analysts also took note of YouTube gaining&nbsp;traction as revenues clocked in at $7 billion just shy of equalising with OTT&nbsp;platform Netflix at $7.4 billion.&nbsp;YouTube&nbsp;also disclosed that its YouTube Shorts product has &ldquo;surpassed 15 billion global daily views,&rdquo; up 131% from the 6.5 billion global daily views that it detailed in March.&nbsp;Read/Watch Also: Apple earnings soar but stock takes a hit as worries riseMeanwhile Google Chief Sundar&nbsp;Pichai&nbsp;took a moment in the earnings call to encourage everyone to get a jab.&nbsp;As the pandemic evolves, we want to help people get the information they need to keep themselves and their families safe,&rdquo; Pichai said. &ldquo;I really encourage everyone to get the vaccine when it&rsquo;s available to you.&rdquo;Read/Watch Also: Masks back on in the US as cases soar

Google earnings soar: YouTube matches Netflix & advertising sales soar 70%, Pichai pitches for vaccines

Google earnings soar: YouTube matches Netflix&nbsp;revenues, while advertising sales soar 70%. Google Chief Sundar&nbsp;Pichai pitches for vaccination as cases rise in the US.&nbsp;

Google earnings soar

Search giant Google's&nbsp;parent firm Alphabet crushed analyst estimates for earnings as revenues from advertising surges.&nbsp;

Google reported earnings well above Wall Street estimates as the search-and-services company posted revenues of $61.9 billion in the April-June quarter.&nbsp; The big surge came in from advertising&nbsp;Google ad revenue increased to $50.44 billion, up 69% from the year-ago quarter. Analysts also took note of YouTube gaining&nbsp;traction as revenues clocked in at $7 billion just shy of equalising with OTT&nbsp;platform Netflix at $7.4 billion.&nbsp;YouTube&nbsp;also disclosed that its YouTube Shorts product has &ldquo;surpassed 15 billion global daily views,&rdquo; up 131% from the 6.5 billion global daily views that it detailed in March.&nbsp; Also watch: Apple earnings soar but stock takes a hit as worries rise Meanwhile Google Chief Sundar&nbsp;Pichai&nbsp;took a moment in the earnings call to encourage everyone to get a jab.&nbsp;As the pandemic evolves, we want to help people get the information they need to keep themselves and their families safe,&rdquo; Pichai said. &ldquo;I really encourage everyone to get the vaccine when it&rsquo;s available to you.&rdquo; Read/Watch Also: Masks back on in the US as cases soar

Record high revenue for electric vehicle mogul Tesla as it reports $1 billion in revenues for the April-June quarter which is up 10 fold from the $104 million it reported last year in the same quarter. Profits for Tesla also beat estimates of over 90% of analysts as the results mark the eighth straight quarter of profit for the 18-year-old company.Despite the bumper earnings&nbsp;Musk delivered some bad news to investors. as&nbsp; he took a moment to brace shareholders that he will &ldquo;no longer default&rdquo; to speaking on, let alone leading, Tesla earnings calls after this quarter.&nbsp;&ldquo;I will no longer default to doing earnings call,&rdquo; Tesla&rsquo;s chief executive officer said during the company&rsquo;s second-quarter earnings call Monday. &ldquo;Obviously I&rsquo;ll do the annual shareholder meeting, but I think that going forward I will most likely not be on earnings calls unless there&rsquo;s something really important that I need to say.&rdquo;Read/Watch Also: Move aside Bezos, Musk sets sight on Jupiter&nbsp;Musk also took a moment to make a snipe at 'rival' Apple, even though the two are not direct competitors. At a question about using material such as&nbsp;cobalt&nbsp;that are mired in controversy for human rights abuse, the Technoking&nbsp;of Tesla said &ldquo;Apple uses I think almost 100% cobalt in their batteries and cell phones and laptops, but Tesla uses no cobalt in the iron-phosphate packs, and almost none in the nickel-based chemistries,&rdquo; Musk said. &ldquo;On on a weighted-average basis we might use 2% cobalt compared to say, Apple&rsquo;s 100% cobalt. Anyway, so it&rsquo;s just really not a factor.&rdquo;

Tesla crosses $1 billion in revenue, up 10 times in 1 year! Musk braces shareholders for big change

Tesla crosses $1 billion in revenue, up 10 times in 1 year! Watch the big change&nbsp;Musk braced shareholders for and why he took a jibe at Apple!

Tesla drives into $1 billion revenue lane

Tesla CEO Elon Musk sniped at Silicon Valley neighbor Apple twice during a conference call to discuss Tesla earnings on Monday.

Record high revenue for electric vehicle mogul Tesla as it reports $1 billion in revenues for the April-June quarter which is up 10 fold from the $104 million it reported last year in the same quarter. Profits for Tesla also beat estimates of over 90% of analysts as the results mark the eighth straight quarter of profit for the 18-year-old company. Despite the bumper earnings&nbsp;Musk delivered some bad news to investors. as&nbsp; he took a moment to brace shareholders that he will &ldquo;no longer default&rdquo; to speaking on, let alone leading, Tesla earnings calls after this quarter.&nbsp;&ldquo;I will no longer default to doing earnings call,&rdquo; Tesla&rsquo;s chief executive officer said during the company&rsquo;s second-quarter earnings call Monday. &ldquo;Obviously I&rsquo;ll do the annual shareholder meeting, but I think that going forward I will most likely not be on earnings calls unless there&rsquo;s something really important that I need to say.&rdquo; Read/Watch Also: <a href="https://www.edtr.ai/9yq3">Move aside Bezos, Musk sets sight on Jupiter&nbsp;</a> Musk also took a moment to make a snipe at 'rival' Apple, even though the two are not direct competitors. At a question about using material such as&nbsp;cobalt&nbsp;that are mired in controversy for human rights abuse, the Technoking&nbsp;of Tesla said &ldquo;Apple uses I think almost 100% cobalt in their batteries and cell phones and laptops, but Tesla uses no cobalt in the iron-phosphate packs, and almost none in the nickel-based chemistries,&rdquo; Musk said. &ldquo;On on a weighted-average basis we might use 2% cobalt compared to say, Apple&rsquo;s 100% cobalt. Anyway, so it&rsquo;s just really not a factor.&rdquo;

India's most valuable company Reliance Industries Ltd (RIL) reported earnings for Q1 and despite a 7% drop in profit have beaten the street estimates.
Operating numbers showed resilience during the pandemic with consolidated operating profit of the company growing 27.6 per cent on-year to a record high of Rs 27,550 cr.The revenue from the main business of oil-to-chemical also saw significant surge, up 75% on a year-on-year basis.&nbsp;The telecom&nbsp;vertical with&nbsp;Jio Platforms outperformed estimates on all parameters. Revenues and profit grew 4 per cent each and the platform reported that&nbsp;total users stood at 440 million at the end of June.&nbsp;The focus from here on though moves to clean energy as RIL&nbsp;chief Mukesh&nbsp;Ambani&nbsp;told shareholders in the earnings release;&nbsp; "I am most excited by the swift start to our new Clean and Green Energy business initiative. We have started investment across all verticals. We are also resolutely implementing our vision of net carbon zero before 2035, which is our highest priority."
&nbsp;

RIL Q1: Petchem & Jio connect as earnings beat estimates

RIL's&nbsp;earnings connect as Jio and Petchem&nbsp;beat street estimates, Mukesh&nbsp;Ambani&nbsp;reminds shareholders that the priority is now clean energy.&nbsp;

RIL Q1 Earnings

<ul>
<li>RIL&nbsp;Q1 earnings beat street estimates through profit drops 7%</li>
<li>RIL operating profit up 27% at record high of ₹27,550 cr</li>
<li>Oil-to-chemical segment revenues rise 75% on a low base</li>
<li>Jio&nbsp;platform earnings beat street estimates, 440 million users reported&nbsp;</li>
<li>Mukesh&nbsp;Ambani: Priority is to be net carbon zero before 2035</li>
</ul>

Mukesh Ambani&nbsp;reiterates to shareholders that going carbon free by 2035 remains the group's top priority.&nbsp;

India's most valuable company Reliance Industries Ltd (RIL) reported earnings for Q1 and despite a 7% drop in profit have beaten the street estimates.
Operating numbers showed resilience during the pandemic with the consolidated operating profit of the company growing 27.6 per cent on-year to a record high of ₹27,550 cr. The revenue from the main business of oil-to-chemical also saw a significant surge, up 75% on a year-on-year basis.&nbsp; The telecom&nbsp;vertical with&nbsp;Jio Platforms outperformed estimates on all parameters. Revenues and profit grew 4 per cent each and the platform reported that&nbsp;total users stood at 440 million at the end of June.&nbsp; The focus from here on though moves to clean energy as RIL&nbsp;chief Mukesh&nbsp;Ambani&nbsp;told shareholders in the earnings release;&nbsp; "I am most excited by the swift start to our new Clean and Green Energy business initiative. We have started investment across all verticals. We are also resolutely implementing our vision of net carbon zero before 2035, which is our highest priority." 
&nbsp;

Move over Infosys&nbsp;&amp; TCS, the tech headlines belong to the midcaps&nbsp;with L&amp;T Technology Services&nbsp;taking the mantle just a day after Mindtree. With a stellar Q1 earnings brokerages are betting big on the tech arm of L&amp;T. Here is what you need to know-:

L&amp;T Technology Services&nbsp;reported 4.2% QoQ revenue growth beating street estimates&nbsp;
Dollar revenue growth guidance was also raised to 15-17% (13-15% earlier)
CLSA: Maintain Outperform rating citing strong margin defence, healthy deal activity, improved outlook

Read/Watch Also: Infosys&nbsp;raises guidance

Stock Alert! Midcap Tech Takeover, Why L&T Infotech is a street favourite

Stock Alert! Midcap Tech Takeover, Why L&amp;T Technology Services is a street favourite after Q1

Stock Alert! Midcap Tech Takeover

Management raised FY22 $&nbsp;revenue growth guidance to 15-17%, share of digital engineering is now 54% versus 52% earlier.&nbsp;

Move over Infosys&nbsp;&amp; TCS, the tech headlines belong to the midcaps&nbsp;with L&amp;T Technology Services&nbsp;taking the mantle just a day after Mindtree. With a stellar Q1 earnings brokerages are betting big on the tech arm of L&amp;T. Here is what you need to know-:
<ul>
<li>L&amp;T Technology Services&nbsp;reported 4.2% QoQ revenue growth beating street estimates&nbsp;</li>
<li>Dollar revenue growth guidance was also raised to 15-17% (13-15% earlier)</li>
<li>CLSA: Maintain Outperform rating citing strong margin defence, healthy deal activity, improved outlook </li>
</ul>
Read/Watch Also: <a href="https://www.edtr.ai/9vhf">Infosys&nbsp;raises guidance</a>

The outperformance from Infosys set to continue as the tech giant reported Q1 numbers that beat street estimates and raised the revenue guidance for the current financial year. Here are the top highlights-:

Q1 dollar revenue growth at 4.7% at $3.7 billion&nbsp;
Raised revenue guidance for FY22 to 14%-16% from 12-14%
FY22 EBIT margin guidance maintained&nbsp;at 22-24% despite salary hikes
Digital business growth remained strong, rising 9.7% to $2.1 billion
Total contribution of digital business to revenue at 53.9%

Speaking on the income tax portal grievances the management said. "We have made progress on portal, continue to face issues on some functionalities,&nbsp;it's the single largest priority for us today"

Infosys Q1| Guidance raised as digital business boosts earnings, Mgmt says fixing tax portal a priority 

Infosys Q1| Guidance raised as digital business boosts earnings, Mgmt says fixing tax portal for the govt is a priorit.&nbsp;

Infosys Q1| 

Infosys stock has outperformed up 26% in the year so far.&nbsp;

The outperformance from Infosys set to continue as the tech giant reported Q1 numbers that beat street estimates and raised the revenue guidance for the current financial year. Here are the top highlights-:
<ul>
<li>Q1 dollar revenue growth at 4.7% at $3.7 billion&nbsp;</li>
<li>Raised revenue guidance for FY22 to 14%-16% from 12-14%</li>
<li>FY22 EBIT margin guidance maintained&nbsp;at 22-24% despite salary hikes</li>
<li>Digital business growth remained strong, rising 9.7% to $2.1 billion</li>
<li>Total contribution of digital business to revenue at 53.9%</li>
</ul>
Speaking on the income tax portal grievances the management said. "We have made progress on portal, continue to face issues on some functionalities,&nbsp;it's the single largest priority for us today"
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9vdk" target="_blank">This tech stock is up 150% and Morgan Stanley says rally is not over</a>

Mindtree&nbsp;delivered strong set of Q1 numbers that beat street estimates,&nbsp; with cross currency revenue growth of 7.6% (QoQ). Morgan Stanley says there is more upside left to the stock that has seen a 150% rise in the last 1 year.Morgan Stanley Bets on Mindtree

Retain Overweight on stock, Price target of Rs 2800/share
Revenue growth and margins were stronger than expected
Deal wins of $504mn were the&nbsp;strongest the company has ever seen
Strongest ever headcount addition of 3400 in Q1

Read/Watch Also: All eyes on Infosys, how to trade the earnings

Stock Alert! Mindtree beats street estimates in Q1, Morgan Stanley bets big on the stock

Stock Alert! This tech stock is up 150% and Morgan Stanley says rally is not over after it delivers hot Q1 earnings.

Mindtree Earnings Boost

Mindtree reported revenue growth of 7.6% , EBIT margin at 17.7% both beating street estimates.&nbsp;

Mindtree&nbsp;delivered strong set of Q1 numbers that beat street estimates,&nbsp; with cross currency revenue growth of 7.6% (QoQ). Morgan Stanley says there is more upside left to the stock that has seen a 150% rise in the last 1 year. Morgan Stanley Bets on Mindtree
<ul>
<li>Retain Overweight on stock, Price target of Rs 2800/share</li>
<li>Revenue growth and margins were stronger than expected</li>
<li>Deal wins of $504mn were the&nbsp;strongest the company has ever seen</li>
<li>Strongest ever headcount addition of 3400 in Q1</li>
</ul>
Read/Watch Also: <a href="https://www.edtr.ai/9vcq" target="_blank">All eyes on Infosys, how to trade the earnings</a>

India&rsquo;s largest IT services company&nbsp;Tata Consultancy Services (TCS)&nbsp;kickstarted the earnings season with Q1 earnings and it missed the street estimates as the second wave slowed down the Indian business while record hiring kept margins under pressure with rising salaries. Here are 5 metrics of the Q1 earnings -:&nbsp;

TCS&nbsp;dollar revenue growth a 2.8% vs street estimates of 3.4% growth&nbsp;
India business revenue dropped 14% due to the second wave&nbsp;
Attrition up 140 bps at 8.6%, Crossed 500,000 headcount with&nbsp;20,409 hires in Q1.&nbsp;
Margins down 140 bps due to salary hikes and higher spends.&nbsp;
Mgmt Speak:&nbsp;: Discretionary expenses are now beginning to increase and that these are expected to normalise to pre-pandemic levels by end-FY22 which may pose headwinds to margins.

TCS&nbsp;stock is up 8% from lows in May has underperformed peer Infosys that has given over a 15% return to the shareholders. Here is what brokerages are saying about the stock going ahead -:&nbsp;

CLSA: Earnings below estimate but wage hike and margin hit on expected lines. Keeps an Outperform rating and an Rs 3,770 target price.
Morgan Stanley:&nbsp;Despite a headline miss in revenues, we view underlying business momentum as very strong and continue to expect solid revenue growth in F22. Maintain Overweight with a price target of Rs 3,870.00


TCS Q1 Earnings: Second wave hits India biz, Milestone hiring. What to do with the stock now?

TCS&nbsp;earnings miss the mark, why are brokerages still bullish? Click here to see if TCS&nbsp;stock will play catch up to peers.&nbsp;

Earnings Alert

Despite a miss on the dollar revenue, the company reported total contract value of $8.1 billion for the quarter.&nbsp;

India&rsquo;s largest IT services company&nbsp;Tata Consultancy Services (TCS)&nbsp;kickstarted the earnings season with Q1 earnings and it missed the street estimates as the second wave slowed down the Indian business while record hiring kept margins under pressure with rising salaries. Here are 5 metrics of the Q1 earnings -:&nbsp;
<ul>
<li>TCS&nbsp;dollar revenue growth a 2.8% vs street estimates of 3.4% growth&nbsp;</li>
<li>India business revenue dropped 14% due to the second wave&nbsp;</li>
<li>Attrition up 140 bps at 8.6%, Crossed 500,000 headcount with&nbsp;20,409 hires in Q1.&nbsp;</li>
<li>Margins down 140 bps due to salary hikes and higher spends.&nbsp;</li>
<li>Mgmt Speak:&nbsp;: Discretionary expenses are now beginning to increase and that these are expected to normalise to pre-pandemic levels by end-FY22 which may pose headwinds to margins.</li>
</ul>
TCS&nbsp;stock is up 8% from lows in May has underperformed peer Infosys that has given over a 15% return to the shareholders. Here is what brokerages are saying about the stock going ahead -:&nbsp;
<ul>
<li>CLSA: Earnings below estimate but wage hike and margin hit on expected lines. Keeps an Outperform rating and an Rs 3,770 target price.</li>
<li>Morgan Stanley:&nbsp;Despite a headline miss in revenues, we view underlying business momentum as very strong and continue to expect solid revenue growth in F22. Maintain Overweight with a price target of Rs 3,870.00</li>
</ul>

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