Engineering company Greaves Cotton on Thursday signed an agreement to acquire the entire shareholding in motion-control systems player Excel Controlinkage for a present valuation of Rs 385 crore in a four-tranche deal. In the first tranche of the deal, Greaves Cotton will acquire 60 per cent in Excel Controlinkage for Rs 231 crore and in [...]
The LIC management will soon meet the top management of the crisis-ridden Adani Group and seek clarification on the crisis being faced by the diversified conglomerate, chairman M R Kumar said here on Thursday. LIC's investment into Adani group firms' stock has come under criticism by the opposition parties as well as investors after US-based [...]
Benchmark equity indices Sensex and Nifty declined in early trade on Friday, tracking negative cues from Asian and global markets. The stocks of Adani Group companies will also be in focus as index provider MSCI Inc has reduced the weightage of four firms in its index after a review. In early deals, the 30-share BSE [...]
Air conditioning and engineering services provider Voltas Ltd on Thursday reported a consolidated net loss of Rs 110.49 crore for the third quarter ended December 2022 on account of provisioning made on overseas projects. The Tata group firm had posted a consolidated net profit of Rs 96.56 crore in the October-December quarter last fiscal, Voltas [...]
Suzlon Energy Limited on Thursday said its consolidated net profit more than doubled to Rs 78.28 crore during the December 2022 quarter, mainly due to reduced expenses. The company had clocked a net profit of Rs 36.77 crore during the October-December quarter of preceding fiscal, Suzlon Energy said in a regulatory filing. Its total income [...]
After two consecutive quarters of losses, Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a net profit of Rs 172.43 crore in October-December 2022 as a fall in oil prices helped it recoup some of the losses on sale of petrol and diesel. Standalone net profit of Rs 172.43 crore in the third quarter of [...]
Kalpataru Power Transmission Ltd (KPTL) on Thursday said its net profit declined 57.9 per cent to Rs 109 crore during the December quarter, on increased expenses. The company had clocked net profit of Rs 259 crore in the October-December quarter of preceding 2021-22 fiscal, KPTL said in a regulatory filing. Its total income rose to [...]
Direct-to-Home operator Dish TV will convening an Extraordinary General Meeting (EGM) on March 3 to seek shareholders' approval for the appointment of four new independent directors. The EGM would be held virtually through video conferencing and other audio-visual means, said a notice by Dish TV. Dish TV's largest shareholder Yes Bank Ltd (YBL) and the [...]
Natco Pharma on Thursday said its consolidated net profit declined by 22 per cent to Rs 62 crore for the third quarter ended December 31, 2022. The Hyderabad-based drug firm had reported a net profit of Rs 80 crore in the October-December quarter of last fiscal. Total income of the company stood at Rs 513 [...]
Index provider MSCI on Thursday said that it had determined that some securities from the Adani group should no longer be designated as free float. This happened after market participants raised concerns about the eligibility of the conglomerate’s companies for its indices. MSCI will be announcing the changes for Adani’s Securities associated with its MSCI [...]
