Today's Business Blitz- "JK Tyre Q1 Results Soar, Tata Electronics Gears Up for 2025, Berkshire's Cash Surges, Gold & Silver Market Surge, Texmaco Lands Massive deal"
3rd August, 2024
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1. “JK Tyre Q1 Results Soar: A 37% Profit Increase to Rs 211 Crore Unveiled”
JK Tyre Q1 profit jumps 37% to Rs 211 crore
Chairman Raghupati Singhania credits premiumisation strategy for offsetting raw material costs
Exports surge despite global challenges
Subsidiaries Cavendish Industries and JK Tornel contribute significantly to revenue and profitability
Optimistic outlook for tyre demand due to infrastructure development and festive season
#crore#Quarterly Earnings#PTI#Markets#bqfree#Business#strategy
2. “Tata Electronics Gears Up for 2025: A Look Into the Rs 27,000-Crore Chip Plant's Future”
Tata Electronics' Rs 27,000-crore chip plant in Assam to open in 2025.
Plant to create 27,000 jobs (15,000 direct, 12,000 indirect).
Company has already employed 1,000 people from Assam.
Ceremony attended by Tata Sons Chairman N Chandrasekaran and Assam CM Himanta Biswa Sarma.
Sarma hailed the plant as a "golden day" for Assam and assured Tata of full support.
Plant will bring in semiconductor ecosystem companies, fostering industrial development.
#Tata#Tata#crore#semiconductor#PTI#Markets#bqfree#chip#Business
3. “Berkshire's Cash Surges to New High as Buffett Scales Back on Apple Shares”
Berkshire Hathaway's cash pile grew to $276.9 billion, a record high.
Warren Buffett reduced Apple stake by almost 50%.
Company's operating earnings rose to $11.6 billion in Q2.
Berkshire sold $75.5 billion worth of stock during Q2.
Struggling to find ways to deploy cash, Buffett says no rush to spend unless it's a low-risk, high-reward opportunity.
#billion#NORTHAM#WWTOPAM#INS#BUSINESS#war#WWTOP#MARKETS#Warren Buffet#FIN#Berkshire#TOP#GLOBALMACR#bqmetered#WWTOPAS#US#STK#Markets#Business#WWTOPEU#Bloomberg#stock#WORLD#INDUSTRIES#Apple#ALLTOP#COS#World
4. “Gold & Silver Market Surge: Why Bullion Prices Are Set to Rally”
Bullion Cues: Prices can rally Gold can rise to ₹75,000 if the facing resistance at ₹71,300 is breached and silver at ₹85,000, with potential gains if these levels are breached
#Market#Derivatives
5. “Texmaco Lands Massive Rs 243-Crore Deal with Mumbai Railway Vikas Corporation”
Texmaco Rail wins Rs 243 crore order from Mumbai Railway Vikas Corp.
Bright Power division to construct power supply infrastructure on third and fourth lines between Virar to Dahanu and Panvel to Karjat.
Scope includes building 25 KV traction substations.
Texmaco Vice Chairman Indrajit Mookherjee: Order underscores their position in railway infrastructure.
Texmaco optimistic of order's contribution to growth.
#crore#PTI#Markets#bqfree#Business
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