Niraj Bajaj named Bajaj Auto Chairman; Rahul Bajaj to be Chairman Emeritus

States Where the Most People Are Vaccinated

Rollout of the COVID-19 vaccine in the United States got off to a slower start than expected. In response, the Biden Administration announced plans to vaccinate 300 million Americans by the end of the summer. Though whether or not the timeline is achievable remains to be seen. Currently, 96,747,454 people have been fully vaccinated, or 29.6% of the population.

So far, vaccination coordination efforts have been largely left to states to manage themselves — and some have proven more efficient at it than others. Depending on the state, the share of the population that has been fully vaccinated ranges from as low as 22.1% all the way up to 37.6%.

Regardless of the share of the population each state has managed to vaccinate, data reveals inefficiencies in vaccination campaigns everywhere in the country as millions of doses are currently sitting idle under the purview of state governments, yet to be administered. As of April 27, only about 78.1% of the 297,543,600 doses of the vaccine that have been distributed to the 50 states and Washington D.C. have been administered. In one state, only 62.3% of delivered doses have gone into the arms of residents. Meanwhile, the state that has proven most efficient has used 90.6% of the vaccine doses it has received.

As the virus mutates and new variants spread, vaccinating the population as rapidly as possible is critical. In total, there have been 9,702 known infections for every 100,000 people nationwide.

Comcast Q1 Profit Beats Estimates

Comcast Corporation (CMCSA) reported first quarter adjusted earnings per share of $0.76 compared to $0.71, prior year. On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $0.58, for the quarter. Analysts’ estimates typically exclude special items.

Net income to Comcast was $3.33 billion, up 55.1% from prior year. Earnings per share was $0.71 compared to $0.46.

First quarter revenue increased 2.2% to $27.2 billion. Analysts expected revenue of $26.7 billion, for the quarter. Revenue for Cable Communications increased 5.9% to $15.8 billion.

Church & Dwight Co Inc. Q1 adjusted earnings Beat Estimates

Church & Dwight Co Inc. (CHD) released a profit for first quarter that declined from last year.

The company’s earnings totaled $220.7 million, or $0.88 per share. This compares with $229.8 million, or $0.92 per share, in last year’s first quarter.

Excluding items, Church & Dwight Co Inc. reported adjusted earnings of $283.6 million or $0.83 per share for the period.

Analysts had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 6.0% to $1.24 billion from $1.17 billion last year.

Church & Dwight Co Inc. earnings at a glance:

-Earnings (Q1): $283.6 Mln. vs. $284.6 Mln. last year.
-EPS (Q1): $0.83 vs. $0.83 last year.
-Analysts Estimate: $0.81
-Revenue (Q1): $1.24 Bln vs. $1.17 Bln last year.

-Guidance:
Full year EPS guidance: $3.00 – $3.06

Rupee extends gains for 4th day; rises 29 paise to 74.07 against dollar

At the interbank forex market, the local unit opened at 74.20 against the greenback and witnessed an intra-day high of 73.94 and a low of 74.23.

The rupee rose by 29 paise to close at 74.07 (provisional) against the US dollar on Thursday, extending gains for the fourth straight session amid a positive trend in domestic equities.

At the interbank forex market, the local unit opened at 74.20 against the greenback and witnessed an intra-day high of 73.94 and a low of 74.23.

It finally ended at 74.07 against the American currency, registering a rise of 29 paise over its previous closing. On Wednesday, the rupee had settled at 74.36.

This is the fourth straight session of gain for the rupee, during which it has appreciated by 94 paise.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.09% to 90.69.

Brent crude futures, the global oil benchmark, rose 1.07 per cent to USD 67.99 per barrel.

On the domestic equity market front, the BSE Sensex ended 32.10 points or 0.06% higher at 49,765.94, while the broader NSE Nifty advanced 30.35 points or 0.20% to 14,894.90.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹766.02 crore on Wednesday, according to exchange data.

T. Rowe Price Group Q1 adjusted earnings Beat Estimates

T. Rowe Price Group (TROW) released a profit for its first quarter that rose from last year.

The company’s bottom line totaled $729.5 million, or $3.17 per share. This compares with $333.7 million, or $1.41 per share, in last year’s first quarter.

Excluding items, T. Rowe Price Group reported adjusted earnings of $712.0 million or $3.01 per share for the period.

Analysts had expected the company to earn $2.94 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 25.3% to $1.83 billion from $1.46 billion last year.

T. Rowe Price Group earnings at a glance:

-Earnings (Q1): $712.0 Mln. vs. $454.3 Mln. last year.
-EPS (Q1): $3.01 vs. $1.87 last year.
-Analysts Estimate: $2.94
-Revenue (Q1): $1.83 Bln vs. $1.46 Bln last year.

Niraj Bajaj named Bajaj Auto Chairman; Rahul Bajaj to be Chairman Emeritus

This will be taken up at the ensuing annual general meeting for the approval of the shareholders.

Bajaj Auto has announced the appointment of Neeraj Bajaj as its new Chairman of the Board with effect from May 1, 2021.

The auto maker has also announced Rahul Bajaj as its Chairman Emeritus.

“Rahul Bajaj, Non-executive Chairman of the Company, having been at the helm of the Company since 1972 and the Group for five decades, considering his age, has tendered his resignation as non-executive director and Chairman of the Company with effect from close of business hours on 30 April 2021,” Bajaj Auto said in a filing with stock exchanges.

“Rahul Bajaj has made a huge contribution to the success of the Company and the Group over the last five decades. Considering his tremendous experience and in the interest of the Company and to continue to benefit from his experience, knowledge and wisdom from time to time in an advisory role and as a mentor, the Board of Directors at its meeting held on Thursday and as recommended by Nomination and Remuneration Committee has approved the appointment of Rahul Bajaj as Chairman Emeritus of the Company for a term of five years with effect from 1 May 2021,” the company said.

This will be taken up at the ensuing annual general meeting for the approval of the shareholders.

“In place of Rahul Bajaj, Niraj Bajaj, non-executive Director of the Company has been appointed as Chairman of the Company with effect from 1 May 2021,” the company added.