Sebi on Wednesday barred six individuals from the securities market for up to three years and imposed penalty totalling Rs 5.8 crore on them in a case pertaining to circulating misleading messages recommending buying specific stocks using social media platform Telegram. The regulator has asked them to pay the fine within 45 days. In addition, [...]
The National Financial Reporting Authority (NFRA) has imposed a ban and penalties totalling Rs 1.15 crore on three entities, including two auditors, for lapses in the auditing of Tanglin Developments Ltd and MACEL. Tanglin Developments Ltd (TDL) and Mysore Amalgamated Coffee Estate Ltd (MACEL) are subsidiaries of listed-entity of Coffee Day Enterprises Ltd (CDEL). Late [...]
IIFL Finance on Wednesday reported 16 per cent jump in standalone net profit at Rs 269 crore for March quarter 2022-23. The non-banking financial company had posted a net profit of Rs 231 crore for the year-ago period. Total income during January-March last fiscal rose to Rs 1,092 crore from Rs 1,079 crore, IIFL Finance [...]
Market benchmark indices advanced in early trade on Thursday, climbing for the fourth straight day amid fresh foreign fund inflows and buying in index major Reliance Industries. The 30-share BSE Sensex climbed 88.71 points to 60,389.29 points. The broader NSE Nifty advanced 19.40 points to 17,833 points. From the Sensex firms, Kotak Mahindra Bank, Bajaj [...]
Dalmia Bharat on Wednesday said it has executed definitive agreements with debt-ridden Jaiprakash Associates Ltd (JAL) to acquire the latter's cement assets as per an earlier announcement. Dalmia Cement (Bharat) Ltd (DCBL), a subsidiary of Dalmia Bharat, on Tuesday executed definitive agreements with JAL for the acquisition of JP Super Cement Plant in Uttar Pradesh [...]
Equity benchmark indices Sensex and Nifty extended their rally for the third straight session on Wednesday amid buying in index major IndusInd Bank, Nestle India and HCL Tech. However, continuous foreign fund outflows and a weak trend in global equities restricted gains in the market, traders said. The 30-share BSE Sensex climbed 169.87 points or [...]
Almost 70 per cent of business executives in India plan to integrate the metaverse into their organisational activities, said a report by PwC India. Though the term metaverse spans a wide spectrum of definitions, it mainly denotes a digital environment with a virtual world that mimics reality through the use of emerging technologies such as [...]
Maruti Suzuki India on Wednesday reported a 42 per cent rise in consolidated net profit to Rs 2,671 crore for the fourth quarter ended March 2023, driven by higher sales, improved realisation and favourable forex movement. The country's largest carmaker logged a net profit of Rs 1,876 crore in the January-March of 2021-22. Net sales [...]
Manufacturers of braking equipment for automotive and non-automotive applications Brakes India has forayed into the lubricants segment with the launch of 'Revia' brand, the company said on Wednesday. The engine oils would cater to both passenger- and commercial-vehicle segments. "Established for over six decades, Brakes India is known in the automotive industry for safety components [...]
Shares of Multi Commodity Exchange of India (MCX) tumbled nearly 8 per cent in the mid-session trade on Wednesday after its Chief Technology Officer Shashank Sathe resigned from the company. The firm's scrip tanked 7.77 per cent to Rs 1,372.10 apiece on the NSE. On the BSE, it plunged 7.71 per cent to Rs 1,373 [...]
