General Insurance Corporation of India (GIC Re) on Thursday reported a net profit of Rs 1,201 crore for the third quarter ended December 2022. There was a loss of Rs 28.48 crore in the year-ago period. Sequentially, it posted a net profit of Rs 1,859.93 crore in the second quarter ended September 2022. Gross premium [...]
The Central Depository Services Ltd (CDSL) on Thursday said the number of active demat accounts on its platform has crossed the 80 million (8 crore) mark. This makes CDSL, Asia's first and the only listed depository, also the country's largest depository in terms of active demat accounts. CDSL Managing Director Nehal Voral said that crossing [...]
Shriram Finance is one of the largest retail NBFCs offering credit solutions for commercial vehicles, two-wheeler loans, car loans, home loans, gold loans, personal and small business loans. The company is a part of the 48-year-old Shriram group. In November 2022, Shriram Group’s entities – Shriram Transport Finance Company Limited, Shriram City Union Finance Limited, [...]
Rising for the second straight session, equity benchmark Sensex climbed 142 points on Thursday following buying in IT and finance stocks amid a positive trend in global markets. After a see-saw session, the 30-share BSE Sensex ended 142.43 points or 0.23 per cent higher at 60,806.22. During the day, the index witnessed a high of [...]
State-owned Indian Overseas Bank (IOB) on Thursday reported a 22 per cent growth in its profit at Rs 555 crore in the quarter ended December 2022 due to an increase in interest income and improved asset quality. The Chennai-based bank had posted a net profit of Rs 454 crore in the same quarter a year [...]
Quick service restaurant operator Devyani International Ltd on Thursday reported a 7.63 per cent rise in consolidated net profit to Rs 71.03 crore for the third quarter ended December 2022. The company, which is the largest franchisee of Yum Brands in India -- including Pizza Hut and KFC, had reported a net profit of Rs [...]
Larsen & Toubro Ltd, (L&T) remained in focus on Thursday after the company received an order worth Rs 2,585 crore from the Ministry of Defence for the supply of 41 sets of modular bridges for the Corps of Engineers of the Indian Army. “Each set of the modular bridges shall consist of seven carrier vehicles [...]
Hindalco Industries, the Aditya Birla Group metals flagship, on Thursday posted a 62.9 per cent decline in consolidated profit after tax at Rs 1,362 crore for the quarter ended December 31, 2022 mainly due to elevated input costs, unfavourable macros and inflationary impacts. The company had posted consolidated Profit After Tax (PAT) of Rs 3,675 [...]
Union Finance Minister Nirmala Sitharaman presented the last full budget of the second term of the Narendra Modi government in Parliament on February 1. Here's what experts, industry insiders have reacted from this year's Budget. 1. Mr. Ajit Patil, Co-Founder/ Managing Director of DeepTek Comments on the Union Budget 2023: The Amrit Kaal Budget of [...]
Drug maker Lupin on Thursday said it has received approval from the US health regulator to market a generic medication, used before a surgery to decrease the volume of secretions from mouth, lungs and stomach, in the American market. The company has received approval from the US Food and Drug Administration (USFDA) for Glycopyrrolate Injection, [...]
