Siemens on Thursday posted a 61.9 per cent rise in its consolidated net profit from continuing operation to Rs 516 crore in the March quarter, mainly on the back of higher revenues. The company follows October to September financial year. "Profit after Tax (consolidated net profit) from continuing operations was at Rs 516 crore, an [...]
Private sector lender South Indian Bank on Thursday reported a 22.74 per cent increase in net profit at Rs 333.89 crore in the March 2023 quarter. The bank's net profit was Rs 272.04 crore in the year-ago period. The operating profit increased by more than 95 per cent to Rs 561.55 crore during the fourth [...]
German retailer METRO AG on Thursday announced the completion of the sale of its Indian cash & Carry business to Reliance Retail Ventures Ltd (RRVL), which holds the retail empire of Reliance Industries Ltd. The deal includes all 31 wholesale stores operated by METRO Cash & Carry India and the entire real estate portfolio (6 [...]
Billionaire Gautam Adani's conglomerate is looking to raise USD 2-2.5 billion through an equity share sale in the boldest comeback strategy after the ports-to-energy conglomerate was rocked by allegations of fraud levelled by a US short seller. Boards of two group companies will meet on May 13 to consider fundraising, according to stock exchange filings. [...]
Eicher Motors on Thursday said its consolidated net profit increased by 49 per cent to Rs 906 crore for the fourth quarter ended March 31, 2023, on the back of robust sales across domestic and global markets. The company reported a net profit of Rs 610 crore a year ago. Total revenue from operations rose [...]
Stocks of Neuland Laboratories Limited started its trading session at a price of Rs 2,110.15. The stock remained flat during the first trading half, but, during the last couple of hours, the scrip saw a sharp increase in its stock prices and closed at a price of Rs 2,538.30, which also marked the new 52-week [...]
The shares of Shriram Pistons & Rings Ltd shot up by a 5 percent upper circuit, from the last two trading sessions, reaching a 52-week high of ₹1,427.75 on Thursday. One of the probable reasons for today's record-high stock prices is the company's recent announcement of Q4 FY 22-23 earnings. As per Consolidated financials of [...]
There are a lot of business opportunities for startups in the domestic mining sector where production worth around USD 7 billion happens annually, Mines Secretary Vivek Bharadwaj said on Thursday. The sector faces several technological challenges, and the startups can explore these issues as a business opportunity for them, the official said while addressing the [...]
Electrification and automation major ABB India on Thursday announced the expansion of its facility at Peenya factory in Bengaluru by setting up a new line for the production of variable speed drive modules. Variable speed drive modules are used to control the speed of electric motors to match the actual demands of the process to [...]
Benchmark indices Sensex and Nifty pared early gains to close marginally lower in highly volatile trade on Thursday due to losses in Larsen & Toubro and cautious trading ahead of the release of domestic inflation data. The 30-share BSE Sensex declined 35.68 points or 0.06 per cent to settle at 61,904.52 after hitting the crucial [...]
