Hindenburg Research, an American short-selling firm, said that it held short positions in the Adani group through US-traded bonds and non-Indian-traded derivative instruments. It accused the group of participating in brazen stock manipulation and accounting fraud schemes over decades, after which the share price of all the listed companies tumbled to the tune of 50%. [...]
One97 Communications parent company of Paytm saw its shares gain more than 10 percent for the second session straight on Tuesday as it was trading at around Rs 612 levels. On Monday the scrip closed 5 percent higher. The buying revived after the company posted its Q3 results. In Q3FY23, Paytm reported a total revenue [...]
A Motilal Oswal arm on Tuesday announced a Rs 400 crore investment in Rajkot-based hygiene products maker Pan Healthcare for a minority stake. The company established in 2016, which manufactures diapers and sanitary napkins, will use the funds for brand building and ramping up distribution, its promoter Chirag Pan said in a statement. Funds managed [...]
One of the largest franchisees of PepsiCo, Varun Beverages’ shares zoomed 6.4% after the company reported a 150% increase in its net profit year-on-year (YoY). The company’s shares reached an intraday high of ₹ 1,300.00 apiece and were trading at ₹ 1,295.00 apiece at 11:28 AM on the National Stock Exchange (NSE). The beverage manufacturer [...]
S&P Global Ratings on Tuesday said core inflation in India has been declining sequentially, and an elevated 6.25 per cent policy rate limits the need for further rate hikes. The Reserve Bank has increased the short-term lending rate by 225 basis points since May last year to contain inflation, mostly driven by external factors, especially [...]
The shares of Jyoti Resins and Adhesives Limited hit an upper circuit of 5 percent at Rs 1,170 levels in the early hours of Tuesday. The scrip gained ahead of the board meeting that is scheduled on February 10th, 2023 to consider and approve the quarterly results of the company. In Q2FY23, the company reported [...]
Financial technology firm Infibeam Avenues reported a 46 per cent increase in consolidated profit after tax to Rs 35 crore in the third quarter that ended December 31, 2022, the company said on Monday. Infibeam had posted a profit after tax of Rs 24 crore a year ago, a statement said. The consolidated income from [...]
Banks will face margin pressure next fiscal as they increase the deposit rates to attract funds to support sustained high loan growth, and the same will fall by 10 basis points to 3.45 per cent, a global rating agency said on Monday. "We expect the domestic banking sector's average net interest margin to slightly contract [...]
Digital financial services firm One97 Communications, which operates under the Paytm brand, expects to sustain operational profit growth, company's founder and CEO Vijay Shekhar Sharma said on Monday. Paytm's EBITDA (earnings before interest, taxes, depreciation, and amortization), an indicator of operational profit, before ESOP cost margin improved to Rs 31 crore during the third quarter [...]
Cement maker Nuvoco Vistas Corp Ltd on Monday reported a narrowing down of its consolidated net loss to Rs 75.29 crore in the December quarter of FY2022-23. The company had reported a net loss of Rs 85.54 crore in the October-December period a year ago, Nuvoco Vistas Corp said in a regulatory filing. Its revenue [...]
