Rupee inches 5 paise higher to 75.03 against US dollar in early trade

Orange Group Q3 Revenues Down 0.4%

Orange Group (ORAN) reported a 0.4% decline in third-quarter revenues, primarily due to the lower level of co-financing of the Fiber network received in France.

The company’s Q3 revenues amounted to EUR 10.5 billion, down 0.4% compared to the prior year period.

Excluding co-financing, revenues rose by 1.3%, driven by retail services, while the growth in equipment sales slowed sharply (+2.1% after +27.5% increase in the second quarter) due to the catch-up effect of the previous quarter.

Group eCAPEX was 1.7 billion euros in the third quarter, a slight 1.0% decline compared to the third quarter of 2020. At September 30, 2021, Orange had 53.8 million households with FTTH connectivity worldwide, up 20.8% year on year. The number of connectable households in France grew 31.4% at 27.4 million.

Orange further noted that it would make an interim dividend payment for 2021 of 0.30 euros in cash on December 15, 20214. In respect of the 2021 financial year, a dividend of 0.70 euros per share would be proposed to the 2022 Shareholders’ Meeting.

Brown & Brown Q3 Profit Increases

Brown & Brown Inc. (BRO) reported that its net income for the third quarter of 2021 was $146.4 million, an increase of $12.4 million, or 9.3% from the prior year. Net income per share increased to $0.52 from $0.47 last year.

Adjusted net income per share increased to $0.58, or 11.5%, compared to the third quarter of the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share. Analysts’ estimates typically exclude special items.

Revenues for the third quarter of 2021 were $770.3 million, increasing $96.3 million, or 14.3%, compared to the third quarter of the prior year, with commissions and fees increasing by 14.6% and organic revenue increasing by 8.5%. Analysts expected revenue of $761.47 million for the quarter.

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Going Back to Eat in Midtown, Where the Main Dish Is New York, New York

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Where to Eat in Midtown Manhattan

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Tesla hikes prices again by up to $5,000

Tesla Model S Plaid debuts

Tesla claims the Model S Plaid is the world’s quickest car and that the $129,990 sedan can accelerate to 60 mph in less than two seconds.

Tesla prices are a lot like the company’s stock lately, they just keep going up.

The cheapest Model 3 is now $43,990.
(Tesla)

The electric automaker this weekkend hiked the base price of all of its models by as much as $5,000.

The entry-level Model 3 sedan and Model Y compact SUV received $2,000 increases, bringing their starting prices to $43,990 and $56,990, while prices for the the Model S and Model X rose by $5,000 each to $94,990 and $104,990.

The Tesla Model S now starts at $94,990.
(Tesla)

The bumps come just three weeks after Model 3 and Model Y prices were raised by $2,000, and represent a $7,000 total increase for each so far in 2021.

Tesla sells its cars directly to consumers and often changes its list prices in concert with demand rather than offering incentives as other automakers do through their franchised dealers.

Rupee inches 5 paise higher to 75.03 against US dollar in early trade

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.10% to 93.90.

The Indian rupee inched higher by 5 paise to 75.03 against the US dollar in opening trade on Tuesday amid a positive trend in domestic equities.

At the interbank foreign exchange, the rupee opened at 75.05 against the dollar, then rose to 75.03, registering an increase of just 5 paise over its previous close.

The rupee on Monday had settled at 75.08 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.10% to 93.90.

"Crude and USD 10-year yields are stable. Evergrande crisis has also calmed down. Market is now waiting for what the US Fed has to say on November 3," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

Meanwhile, exporters can sell near 75.15/20 for their near-term exports, while importers may buy near 74.90, Mr Bhansali said, adding "expecting some inflows of the two IPOs starting in the weekend".

Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth ₹2,459.10 crore, as per exchange data.

On the domestic equity market front, BSE Sensex was trading 348.13 points or 0.57% higher at 61,315.18, while the broader NSE Nifty advanced 115.15 points or 0.64% to 18,240.55.

Global oil benchmark, Brent crude futures, rose 0.24 per cent to $86.20 per barrel.