Optical and digital solutions company Sterlite Technologies on Friday reported a net profit of Rs 50 crore for the December 2022 quarter against a loss of Rs 138 crore a year ago. The loss in Q3 FY22 included a one-time provision, a top company official explained. The revenue from operations for the just-ended quarter stood [...]
India's forex reserves increased by USD 1.727 billion to USD 573.727 billion in the week ended January 20, the Reserve Bank of India said on Friday. This is the second consecutive week of a rise in the kitty after the USD 10.417 billion jump to USD 572 billion during the preceding week. In October 2021, [...]
Hospitality and travel-tech firm OYO estimates its revenue in 2022-23 to be USD 751 million on the back of which it expects to post its first operating profit in a full year, company Founder and Group CEO Ritesh Agarwal has told its employees. At an employees townhall held this week, Agarwal is understood to have [...]
Aviation regulator DGCA on Friday imposed a Rs 10 lakh fine on Go First for the incident wherein 55 passengers were left behind in a passenger coach at Bangalore airport on January 9. The Directorate General of Civil Aviation (DGCA) had issued a show-cause notice to the airline following the incident. "Perusal of (the) reply [...]
Vedanta Ltd on Friday reported a 40.8 per cent drop in consolidated net profit to Rs 2,464 crore for the third quarter ended December 2022 on higher input costs. The company posted a consolidated net profit of Rs 4,164 crore in the year-ago period, Vedanta Ltd said in a BSE filing. However, the consolidated income [...]
Equity benchmarks Sensex and Nifty plunged over 1 per cent for a second straight session on Friday dragged down by heavy selling in banking, financials, and oil stocks amid foreign fund outflows. Massive selling in the Adani group stocks also added to the overall bearish trend. The 30-share BSE benchmark tanked 874.16 points or 1.45 [...]
State-owned CIL intends to produce sand using overburden rocks lying at its various coal mines and the operation of five such sand plants is likely to commence by next year, the government said on Friday. Under the 'overburden (OB) rocks-to-manufactured sand' initiative, Coal India Ltd (CIL) facilitates processing of waste overburden at its open cast [...]
Indian stock markets on Friday achieved a complete transition to a shorter settlement cycle or T+1 regime, a move that will bring significant capital efficiencies to the investors and improve risk mitigation for the entire industry. T+1 (trade plus one) means that market trade-related settlements will need to be cleared within one day of the [...]
Chemicals maker Anupam Rasayan India Ltd on Friday posted a 43.61 per cent jump in its consolidated net profit to Rs 54.43 crore in the third quarter of the current fiscal. The company's net profit stood at Rs 37.90 crore in the same quarter of the previous fiscal, according to a regulatory filing. Total revenue [...]
Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash [...]
