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Aussie logistics software maker WiseTech hits all-time high on stellar outlook

Economic Times

Economic Times · 1y ago

Aussie logistics software maker WiseTech hits all-time high on stellar outlook

Shares of WiseTech Global surged to a record high after the Australian software maker projected strong results for the current financial year. The company's 2024 underlying profit exceeded market expectations, driving its shares up by as much as 21.8% to an all-time high of A$114.990. WiseTech Global anticipates operating earnings of A$660 million to A$700 million for the year ending June 30, 2025, surpassing the consensus forecast of A$654.8 million. The company's 2024 underlying profit rose 15% to A$283.5 million, beating consensus figures by 6%. It also announced a final dividend of 9.2 Australian cents per share.

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Australia's WiseTech CEO steps down after court settlement

Economic Times

Economic Times · 10m ago

Australia's WiseTech CEO steps down after court settlement

WiseTech Global announced that CEO Richard White will step down after settling a lawsuit that led to personal allegations against him. White, the founder and largest shareholder of the logistics software company, will transition to a long-term consulting role. CFO Andrew Cartledge will serve as interim CEO. The lawsuit involved wellness entrepreneur Linda Rogan, who was fighting bankruptcy declarations. The company stated that inquiries into the media coverage and personal allegations are ongoing. White expressed that it had been a challenging time for him, his family, and the company he built.

Taking Stock: Market posts biggest weekly gain in 2024; Sensex hits fresh all-time high

Money Control

Money Control · 1y ago

Taking Stock: Market posts biggest weekly gain in 2024; Sensex hits fresh all-time high

Indian benchmark indices ended on a positive note for the third consecutive session, with the BSE Sensex reaching an all-time high and the Nifty 50 index inching closer to its record level. The market closed 2% higher, recording the biggest weekly gain of 2021. The Reserve Bank of India kept key rates unchanged for the eighth time in a row and increased the growth forecast for FY25 to 7.2%. The market outlook remains positive, with the Nifty expected to move towards 23,500-23,600 as long as it remains above 23,000.

Australia's WiseTech sinks after directors step down over differing views on founder's role

Economic Times

Economic Times · 6m ago

Australia's WiseTech sinks after directors step down over differing views on founder's role

Australian software maker WiseTech Global saw its shares fall 18% after four non-executive directors resigned due to differing views on the role of founder Richard White. White had stepped down as CEO amid personal life allegations but returned as a consultant. An external review largely cleared him, but concerns over his management style and new allegations emerged. WiseTech expects lower revenue but strong EBITDA margins, and plans new director appointments.

Bitcoin hits all-time high at $80,092

Inshorts · 9m ago

Bitcoin hits all-time high at $80,092

The world's biggest cryptocurrency Bitcoin crossed the $80,000-mark and hit an all-time high at $80,092 on Sunday. The boost is a result of US President-elect Donald Trump's embrace of digital assets and the prospect of US Congress featuring pro-crypto lawmakers. Bitcoin is up 65.4% from the year's low of $38,505 it hit on January 23.

Option strategy of the day | Horizontal trendline breakout in Exide Industries; consider bull spread for upside

Money Control

Money Control · 1y ago

Option strategy of the day | Horizontal trendline breakout in Exide Industries; consider bull spread for upside

Exide Industries stock has broken out from a horizontal trendline on the daily scale and reached a new all-time high. It is trading above its short and long-term moving averages, indicating a bullish trend. The momentum indicators and oscillators also support the positive chart structure. To leverage the bullish sentiment, a bull call spread option strategy is recommended. The derivative data aligns with the bullish outlook, with a build-up of long positions and accumulation of call positions. The technical view shows strong bullish indicators, with the stock trading above key moving averages and momentum indicators supporting the positive outlook.

Zomato Hits Fresh All-Time High At INR 298.05 Amid Broader Market Rally

Inc42 · 11m ago

Zomato Hits Fresh All-Time High At INR 298.05 Amid Broader Market Rally

Shares of foodtech major Zomato rose over 2% in early trading today, reaching a new all-time high of INR 298.05 on the BSE. This surge came alongside a broader market rally, with Sensex and Nifty 50 also reaching record intraday highs. Zomato's shares have gained nearly 140% year-to-date due to the company's improved profitability.

Sensex breaches 77,000-mark for first time; Nifty hits new record high level in early trade

YourStory

YourStory · 1y ago

Sensex breaches 77,000-mark for first time; Nifty hits new record high level in early trade

Indian benchmark equity indices rallied to all-time high levels on Monday, with the Sensex surpassing 77,000 points for the first time. The market optimism stems from factors such as the Reserve Bank of India revising its GDP growth projection upwards and fresh foreign fund inflows. The NSE Nifty also hit a record high. The index fluctuations continued throughout the day, resulting in a relatively flat trend. Foreign Institutional Investors made significant equity purchases on Friday. Despite lower trading in Seoul and US markets, the Tokyo market traded positively. Brent crude oil prices also experienced an increase.

Logistics-as-a-service on ONDC hits 1 million transactions in June

Economic Times

Economic Times · 1y ago

Logistics-as-a-service on ONDC hits 1 million transactions in June

The Open Network for Digital Commerce (ONDC) in India has reached a milestone of one million transactions in June for its on-network logistics-as-a-service. This initiative aims to bridge the demand gap for third-party logistics and improve delivery across the network. Sellers using on-network logistics can optimize costs and ensure timely deliveries. The service is currently available in all 28 Indian states and seven union territories, with Karnataka, Delhi, and Telangana seeing the highest order deliveries. ONDC is receiving interest from various consumer goods, direct-to-customer brands, and fashion domains to optimize service costs.

IIP hits 4-month high in July

Economic Times

Economic Times · 14h ago

IIP hits 4-month high in July

India's industrial output reached a four-month peak of 3.5% in July, largely propelled by a robust manufacturing sector, according to official data. The manufacturing sector hit a six-month high, growing by 5.4% year-on-year. However, mining output saw a significant decline, while electricity generation remained low. Despite the overall positive trend, challenges such as limited private investment due to global conditions persist. The outlook suggests potential growth in the coming months, supported by public sector investments.

Scandron Targets Commercial & Defence Sectors After Receiving DGCA Logistics Drone Certificate

OutlookIndia

OutlookIndia · 1y ago

Scandron Targets Commercial & Defence Sectors After Receiving DGCA Logistics Drone Certificate

Bengaluru-based drone-maker Scandron has become the first Indian company to receive a Type Certificate from the Directorate General of Civil Aviation (DGCA) for its logistics drone, CargoMax 500HE. The certification will allow the company to offer safe and reliable B2B logistics services in India, focusing on efficient and time-saving deliveries between courier service provider hubs. Scandron has entered a strategic partnership with CriticaLog India, a critical logistics service provider, and is also in talks with Shree Maruti Courier. The company plans to offer B2B logistics services between its hubs in 160 Indian cities over the next two years.

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