Moment elephant charges at safari truck forcing it to reverse to safety
Girish R from Hebbal, India, captured the terrifying footage of the elephant and the lucky escape.
Click above to watch the video.
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Reuters
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- Reuters
India's Amara Raja first-quarter profit misses view on weak automotive demand
Aug 8 (Reuters) - Amara Raja Energy and Mobility ( opens new tab, which makes the Amaron-branded car batteries, reported a bigger-than-expected drop in first-quarter profit on Thursday as weak demand from automakers and higher expenses hurt margins. The Indian company reported a profit of 1.94 billion rupees ($22.2 million) in the April-June period, down 21% from 2.45 billion rupees a year ago. Quarterly revenue rose 7% to 33.5 billion rupees, led by demand from customers replacing their batteries. However, expenses rose at a faster 10% pace. Analysts at Motilal Oswal had flagged higher power costs for the company in a pre-earnings note. The company which also produces industrial uninterruptible power supply units has struggled with weak sales to automakers at home over the last year. The Hyderabad-based company is expanding into India's small, but growing electric vehicle segment, with the establishment of a cell-making factory that is expected to begin operations by 2027. It currently assembles battery packs that are used in EVs. Last week, rival Exide ( opens new tab reported a higher profit on the back of replacement demand and as it kept costs under control. ($1 = 87.5980 Indian rupees)
Reuters
6 minutes ago
- Reuters
India's Ashok Leyland beats quarterly profit view on margin improvement
Aug 14 (Reuters) - India's Ashok Leyland ( opens new tab reported a bigger-than-expected first-quarter profit on Thursday as margins improved. The standalone profit for the Hinduja Group's flagship company rose 13% to 5.94 billion rupees ($67.86 million) in the three months ended June 30, beating analysts' average estimate of 5.70 billion rupees, according to data compiled by LSEG. Revenue from operations rose a marginal 1.5% to 87.25 billion rupees, in line with analysts' average estimate of 87.26 billion rupees. The company also logged a 12% jump in the sales of its higher-margin buses, part of its medium and heavy commercial vehicle (M&HCV) segment. Shares rose as much as 3.6% after results, before trimming some gains to trade 1.4% higher. For further earnings highlights, click KEY CONTEXT - Despite a marginal rise in steel prices, a favourable net pricing, which is the final amount a customer pays for a product, and internal cost control measures boosted Ashok Leyland's margins, according to analysts, which rose to 6.81% from 6.11% a year ago. Demand for M&HCV buses also ticked up in the quarter due to increased orders for public transport buses, replacement of old fleets, and government's push to enhance urban public transport systems. Rivals Mahindra & Mahindra ( opens new tab and Eicher Motors ( opens new tab beat quarterly profit estimates on strong demand for SUV and motorcycles, respectively, while Tata Motors' ( opens new tab profit plunged as tariffs, slow sales hurt. PEER COMPARISON * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL-JUNE STOCK PERFORMANCE -- All data from LSEG -- $1 = 87.5388 Indian rupees
Telegraph
20 hours ago
- Telegraph
Billionaire Porsche family prepares for war with new defence fund
The German billionaire family behind Porsche is launching a new fund focused on investing in defence as it seeks to cash in on Europe's rearmament drive. Porsche SE – the powerful holding company run by the Porsche family – said it wanted to 'defend our values, democracy, and freedom' by pursuing a range of investments in the sector. The company, which has stakes in its eponymous luxury carmaker and Volkswagen, is expanding into weapons as it claimed we are 'in a world where freedom and security are no longer a given'. In particular, Porsche SE called out Russia's 'war of aggression against Ukraine, growing geopolitical tensions in Asia, and increasing cyberattacks on critical infrastructure'. To expand its fund, the Porsche family is planning to attract investors across Germany and Europe. The shift into defence is a symbolic moment for the Porsche family, which has generally avoided working with the defence sector since the 1960s. Ferdinand Porsche, the founder of the luxury marque Porsche AG and the engineer behind the bestselling Volkswagen Beetle, was a notable figure in Nazi Germany. He played key roles in tank design, turret production and even had a brief spell working on the V-2 rocket, as he became a friend of Adolf Hitler in the process. Ever since, his descendants have tried to move past this chapter in their history. However, Porsche SE said a renewed focus on defence in Europe had created an opportunity that it intended to capitalise on. Hans Dieter Pötsch, chairman of Porsche SE, said: 'On our way to becoming a diversified investment platform, we are closely monitoring the areas of defence capability, security and European resilience. 'With regard to portfolio investments, our aim is to increase our involvement in the defence and defence-related sectors while maintaining our core focus on mobility and industrial technology.' The launch of the defence fund, first mooted by the Porsche family in March, comes amid a major German rearmament push. Friedrich Merz, Germany's Chancellor, secured support in March for an easing of his country's long-standing 'debt brake', turning the taps on for €500bn (£432bn) of investment and ensuring that any defence spending above 1pc of GDP will be exempt from borrowing restrictions. Porsche SE said its investments would focus on technology-driven areas including satellite surveillance, reconnaissance and sensor systems, cybersecurity or logistics and supply systems. A company spokesman said: 'Our core holdings confront their past. Both Volkswagen AG and Porsche AG see dealing with their history as a permanent task and continue to dedicate themselves to this process. 'For this reason, we view responsibility not as a historical burden but as a mandate for the present. 'Any investments by Porsche SE in defence and security infrastructure contribute to strengthening Germany and Europe. We take our historical responsibility seriously and carefully review our investments.' The investment fund comes amid a surge in the value of defence stocks since the turn of the year. German defence giant Rheinmetall, which is Europe's biggest producer of ammunition, has risen by 161pc. FTSE 100 nuclear submarine contractor Babcock has also seen its shares soar by 95pc over the same period, while BAE Systems has climbed 52pc.
