Hero MotoCorp's revenue rises

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⭐ Hero MotoCorp's revenue rises

Hero MotoCorp has reported a 7.4% year-on-year (YoY) rise in its revenue at ₹9,075 crore during Q2FY23. Meanwhile, its net profit declined by 9.8% to ₹716 crore. During the quarter, the company sold 14.2 lakh units of motorcycles and scooters. As per the company, global macro headwinds are leading to uncertainty. However, the medium-term outlook for the industry is encouraging.

⭐ Ajanta Pharma’s profit falls

Ajanta Pharma has reported 6% YoY rise in its revenue from operations at ₹938 crore for the September quarter. However, its net profit tanked by nearly 20% YoY to ₹157 crore. Along with the result, the company also announced an interim dividend of ₹7 per share for its shareholders, which will be paid on or after 24 November.

⭐ BoE raises interest rates again

The Bank of England (BoE) has raised its key policy rates by 0.75%, increasing the cost of borrowing to its highest level since 2008. The effective borrowing rate now stands at 3%. Policymakers took the decision in order to tackle inflation, which climbed to a 40-year high of 10.1% in September.

Global markets (at 7:30 AM today)

Fact of the day

Apple will roll-out its much-awaited software upgrade in India next week, upon which 5G network will be accessible on iPhones.

Source: Livemint