HONG KONG: Hong Kong's accounting regulator said it would start an investigation into PwC's role in auditing Chinese real estate giant Evergrande, citing the publication of a "whistle-blower report". Heavily indebted Evergrande has become a symbol of the years-long crisis in China's property market, and last month its onshore unit was accused of a $78 billion revenue overstatement.

Surana Solar announced their Q4 FY24 results on 18 Apr, 2024, revealing a significant decline in revenue by 49.59% compared to the same period last year. The company incurred a loss of ₹0.15Cr in Q4 FY24, in stark contrast to the profit of ₹0.25Cr reported in the previous fiscal year for the same period. Quarter-on-quarter, the revenue dropped by 10.59%.

ICICI Securities declared their Q4 FY24 results on 18 Apr, 2024. The topline increased by 76.09% & the profit increased by 104.25% YoY. As compared to the previous quarter the revenue grew by 16.56% and the profit increased by 15.21%.The Selling, general & administrative expenses declined by 8.29% q-o-q & increased by 30.23% Y-o-Y. The operating income was up by 18.13% q-o-q.

KCL Infra Projects announced their Q4 FY24 results on 17 Apr, 2024, with a significant decline in revenue by 74.38% compared to the same period last year. The company reported a loss of ₹0.54cr in Q4 FY24, in contrast to a profit of ₹0.06cr in the previous fiscal year for the same period. Quarter-on-quarter, the revenue saw a decline of 41.67%.

Bajaj Auto declared their Q4 FY24 results on 18 Apr, 2024, showcasing a strong performance. The company reported a 29.41% year-over-year increase in revenue and a 17.99% year-over-year growth in profit. However, when compared to the previous quarter, there was a 5.02% decline in revenue and a 1.04% decrease in profit. The SGA expenses saw a 4.08% quarter-on-quarter rise

Vedanta shares: After ushering in the new year 2024, Vedanta share price remained in base-building mode till the middle of March 2024. However, after bottoming out at ₹250 apiece levels in mid-March, Vedanta share price has remained in an uptrend. Vedanta share price ended on Friday at around ₹385 apiece, which means the Vedanta share has risen to the tune of 50 percent since mid-March.

Ahead of the Lok Sabha elections in the state, Punjab farmers are a happy lot. Two things are working in their favour at the moment: higher wheat yield, and robust procurement of the key rabi crop at attractive MSP. Unlike in many other states, for Punjab’s land-owning farmers, most of who grow cereals in their own holdings, the current MSP of `2,275/quintal is almost 2.5 times the cost.

India's leading IT majors TCS, Infosys, and Wipro recently announced their January-March quarter results for fiscal 2023-24 (Q4FY24) and reported a full-year decrease in their total employee headcount for the entire fiscal. Cumulatively, the three software services exporters reported a full-year decline of 63,759 in headcount numbers during the entire financial year 2023-24 (FY24).

Wipro on April 19 said it sees green shoots in its consulting business Capco, a division that has been troubling the company ever since demand environment started deteriorating. Consulting businesses are usually the first ones to see a decline in revenue when adverse macroeconomic issues affect demand. But, these are also the first ones to rebound as and when the macroeconomic situation improves.

Several brokerage firms reduced their target price for Infosys stock after the IT major lowered its revenue forecast for FY25, citing unclear prospects for discretionary spending and reported weaker-than-expected Q4 earnings. Infosys slashed its revenue guidance for FY25 to 1-3% from 4-7% a year ago. It has revised its annual revenue growth guidance five times in the previous five quarters.

Angel One declared their Q4 FY24 results on 17 Apr, 2024. The topline increased by 51.69% & the profit increased by 27.36% YoY. The Selling, general & administrative expenses rose by 12.11% q-o-q & increased by 110.38% Y-o-Y. The operating income was up by 33.85% q-o-q & increased by 15.26% Y-o-Y. The EPS is ₹40.03 for Q4 FY24 which increased by 26.47% Y-o-Y.

The subscription for Vodafone Idea's Rs 18,000 crore follow-on public offer (FPO) reached nearly halfway by the end of the second day, with bids received for 49% of the shares on offer. The portion designated for qualified institutional buyers (QIBs) and non-institutional investors continued to attract strong interest, while bids from retail investors remained subdued.

Bitcoin {{BTC}} held steady around $63,700 in the aftermath of the cryptocurrency's fourth halving, an event that upends the economics for the miners who power the Bitcoin ecosystem. BTC recently barely moved from its level right before the 840,000th Bitcoin block was mined just as Saturday began in UTC time. Bitcoin had slumped as low as $59,685 on Friday before rebounding above $65,000.

In yet another truncated week, market snapped a four-week gaining streak as it remained under pressure amid geopolitical tensions, which pushed crude prices above USD 90. However, smart recovery on the final day of the week helped Nifty to close above 22,100. In this week, Nifty50 index shed 372.4 points or 1.65% to end at 22,147, while BSE Sensex fell 1,156.57 points or 1.55% to close at 73,088.

Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each on Friday, days after the first-quarter deliveries of the world's most valuable automaker missed market expectations. Elon Musk's electric-vehicle maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively.