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⭐ Tata Motors hits speed bump in Q1 🚗
Tata Motors reported a net loss of ₹5,007 crore in Q1 of FY23. This was the sixth consecutive quarter when the company reported a loss. The performance was impacted by supply shortages, high material costs, and a fall in Jaguar Land Rover (JLR) sales. Retail sales of JLR were down 37% to 78,825 units in the quarter. Meanwhile, the company’s revenues rose 8.3% to ₹71,935 crore.
⭐ Bajaj Finance profit surges💰
Bajaj Finance reported its highest-ever consolidated quarterly net profit at ₹2,596 crore in Q1 of FY23. The net profit was up 159% year-on-year, supported by robust income due to brisk loan growth. Meanwhile, net interest income rose 48% to ₹6,638 crore. On the asset quality front, the company's gross non-performing assets improved to 1.25% as compared to 2.96% in the year-ago period.
⭐ DGCA restricts Spicejet's operations after snags 🛬
The Directorate General of Civil Aviation (DGCA) has curtailed Spicejet's flight operations to 50% for the next eight weeks. This follows the multiple technical snags faced by the airline in a short period of time. Spicejet aircraft had reported at least eight malfunction incidents in 18 days.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.59% |
| Nikkei 225 (Japan) | ▲ 0.32% |
| Hang Seng (Hong Kong) | ▲ 0.40% |
| SSE Composite (China) | ▲ 0.75% |
| Dow Jones (US) (July 27) | ▲ 1.37% |
| NYSE (US) (July 27) | ▲ 1.1% |
| Nasdaq (US) (July 27) | ▲ 4.06% |
| S&P 500 (US) (July 27) | ▲ 2.62% |
Fact of the day
As per RBI data, digital payments in the country rosse nearly 29% in the year-ending March 2022.
Source: Financial Express