Cement maker ACC Ltd on Thursday reported a 60.07 per cent decline in consolidated net profit at Rs 227.35 crore in June 2022 quarter, due to rise in fuel costs and related inflationary impacts. The company, which follows January-December financial year, posted a profit of Rs 569.45 crore in April-June 2021, ACC said in a [...]
Telecom operator Bharti Airtel on Thursday said it has allotted over 7.1 crore equity shares to internet major Google for Rs 734 apiece. The allotment is part of Google's commitment to invest USD 1 billion with Airtel, which included equity investment in the company worth USD 700 million, about Rs 5,224 crore, Airtel said in [...]
The shares of Zydus Wellness Limited quoted 2.94% higher on Thursday’s deals. According to the bulk data available with the National Stock Exchange, Nippon India Mutual Fund A/C, Nippon India Small Cap Fund bought 9,36,218 shares of the company at a price of ₹ 1540.00 apiece on Wednesday. The value of the transaction was ₹ [...]
Rating agency Icra on Thursday said it expects prices of domestic coal to remain high in the ongoing quarter as well given the supply challenges of the dry fuel during monsoon. The domestic e-auction premium on coal increased by over 400 per cent in May, thereby adversely impacting the cost structure of the base metal [...]
IT company Larsen and Toubro Infotech on Thursday posted a 27.6 per cent increase in consolidated net profit at Rs 633.5 crore in the first quarter ended June 30, 2022. It had registered a profit of Rs 496.3 crore in the same period a year ago, the company said in a regulatory filing. "We are [...]
Benchmark indices Sensex and Nifty gave up early gains to close lower for a fourth straight session on Thursday due to selling in IT and banking shares amid weak global equities. The 30-share BSE benchmark settled 98 points or 0.18 per cent lower at 53,416.15. During the day, it hit a high of 53,861.28 and [...]
S&P Global Ratings on Thursday said liquidity stress has reduced for Vedanta Resources Ltd as the company has addressed a large part of its debt maturities for the ongoing financial year. The rating agency also said that while Vedanta Resources still has some funds to raise, it has sufficient cash at its cash-rich India operating [...]
Maharashtra government has decided to reduce the value added tax (VAT) on petrol and diesel by Rs 5 and Rs 3 per litre respectively, Chief Minister Eknath Shinde said here on Thursday. The decision, to be implemented from Thursday midnight, would entail a burden of Rs 6,000 crore on the state exchequer. It will benefit [...]
The Enforcement Directorate on Thursday said it has arrested four people, including two promoters of Chennai-based Surana group, in a money laundering case linked to a reported Rs 3,986 crore worth bank loan fraud. Dinesh Chand Surana and Vijay Raj Surana, both managing directors cum promoters of Surana Industries Limited, Surana Power Ltd and Surana [...]
ICICI Securities in its research report dated July 12, 2022, has upgraded the shares of Jindal Stainless Limited (JSL) from ‘hold’ to ‘buy’. Further, it has given a target price of ₹ 200 apiece on the share, implying an 83.07% upside as compared to the current market price of ₹ 109.25. Jindal stainless steel is [...]
