Due to the sale of the retail division to Axis Bank, the net profit for the Indian operations of the American lender Citi increased to Rs 13,614 crore in FY23. A net profit of Rs 4,700 crore, or a 26% increase over the Rs 3,727 crore it reported for FY22, was reported by the lender [...]
Companies generally manage their capital requirements with the help of equity or through internally generated cash. However, they may also use debt for the same. While debt provides financial leverage to companies, too much of it can cause trouble. Debt-free companies send a signal to investors that they are able to manage their funding requirements [...]
In This large-cap company, Goldman Sachs bought 2.47 Cr shares via a block deal. The stock has delivered 86% returns in one year and 53% returns in YTD to the investors. The stock closed above the both 50-day and 200-day moving averages. IDFC First Bank A large-cap company, IDFC First Bank has a market capitalization [...]
This paint stock reached its 52- week high in the market today after the company announced the record date for its bonus issue of shares in the ratio of 1:5. Share price of Berger Paints closed at Rs. 722.35 per share. It gained another percent to reach its 52- week high of Rs. 728.70 apiece. [...]
On Tuesday, the BSE Sensex continued its upward trend for a eighth day in a row, while the Nifty ended marginally lower after setting a new record high. The 30-share BSE Sensex increased 94.05 points, or 0.14%, to close at 67,221.13 on Thursday. It increased by 412.02 points or 0.61% to 67,539.10 throughout the day. [...]
On Tuesday, Tata Power Delhi Distribution disclosed a strategic alliance with Utiltyx, the Indian division of a US-based software company that specializes in data analytics and cyber security. According to a statement from the company, the partnership aims to improve the organization's readiness against potential threats and challenges related to cyber security. According to the [...]
In an effort to promote environmentally friendly coal transportation, Coal India Ltd has committed to investing a total of about Rs 24,750 crore in 61 first-mile connectivity (FMC) projects over the next few years. The projects, which will be built in three phases, will have a combined annual capacity of 763.5 million tonnes, according to [...]
India and the UK are looking into the possibility of listing debt instruments and shares at IFSC-GIFT City and the London Stock Exchange (LSE), according to Finance Minister Nirmala Sitharaman on Monday. After the conclusion of the 12th India-UK Economic and Financial Dialogue, Sitharaman stated that the UK had expressed its willingness to further increase [...]
Infrastructure development is critical to India's goal of becoming a $5 trillion economy by 2025. To boost the expansion of the infrastructure industry, the government has launched many schemes including the National Infrastructure Pipeline (NIP), in conjunction with other programs such as 'Make in India' and the production-linked incentives (PLI) plan. Historically, more than 80 [...]
The US International Development Finance Corporation has authorized financial assistance to Tata Power Renewable Energy Ltd. in the amount of up to USD 425 million (Rs 3,521 crore) for the establishment of a 4.3 GW solar cell in Tamil Nadu by its subsidiary. According to a statement released on Monday by Tata Power Renewable Energy [...]
