Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Tuesday said the weak debut of the country's largest insurer LIC on the bourses was due to unpredictable market conditions and suggested investors to hold on to the stock for long-term value. LIC on Tuesday listed its shares at a discount of [...]
Kajaria Ceramics Ltd on Tuesday reported a decline of 25.87 per cent in consolidated net profit at Rs 97.23 crore for the fourth quarter ended March. The company had posted a net profit of Rs 131.17 crore in the year-ago period, Kajaria Ceramics said in a BSE filing. However, its revenue from operations was up [...]
RBL Bank on Tuesday said it has raised USD 100 million (about Rs 770 crore) through its first issuance of Basel III-compliant unsecured and subordinated tier 2 bonds. The tier 2 bond issuance increases the bank’s total Capital Adequacy Ratio to 17.85 per cent, RBL Bank said in a statement. The bonds with a tenor [...]
Xanadu Realty Ltd, a realty tech business accelerator firm, on Tuesday announced that it has received a strategic investment from HDFC Ltd and HDFC Life Insurance Co. Ltd. However, the company did not disclose the investment amount. The investment from HDFC Ltd and HDFC Life Insurance Co. Ltd will bolster Xanadu Realty's plans of strategic [...]
India's steel exports are expected to remain strong in the coming months as higher prices and regional demand would drive the steel companies to divert part of their output to exports, according to Moody's Investors Service. In its report 'Steel – Asia Pacific: Higher raw material costs reduce benefit of steel price gains amid Ukraine [...]
The value of foreign portfolio investors' (FPI) holdings in domestic equities reached USD 612 billion in the March quarter, down 6 per cent from the preceding quarter, according to a Morningstar report. This was largely on the back of a massive sell-off by foreign investors and correction in the Indian equity markets. At the end [...]
Bajaj Electricals on Tuesday reported a 28.73 per cent decline in consolidated net profit at Rs 38.67 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 54.26 crore for March quarter of the previous fiscal year, Bajaj Electricals said in a regulatory filing. However, total revenue from [...]
Making a strong case for reduction in taxes on petrol and diesel, CII President Sanjiv Bajaj on Tuesday said it should be done in a collaborative manner between the Centre and states with a view to containing the rising inflation. In an interview to PTI, he said taxes on petrol and diesel were increased by [...]
The CBI has registered a fresh case against Lok Sabha MP Karti Chidambaram to probe an 11-year-old allegation of facilitating visas of 250 Chinese nationals after receiving illegal gratification of Rs 50 lakh in 2011 when his father P Chidambaram was the Union home minister, officials said on Tuesday. After registering the case, the CBI [...]
Aditya Auto Products & Engineering on Tuesday said it has signed a 50:50 joint venture agreement with international equipment supplier Edscha to tap the increasing domestic automotive systems market potential. The collaboration with Bengaluru-based Aditya Auto, the first venture for Edscha in India, is aimed at developing, manufacturing and distributing door checks, hinge systems, parking [...]
