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Water management stock jumps 6% after acquiring 100% stake in Italy based pumping solutions firm
In Wednesday's trading session,one of the leaders in Pumps & Pumping Systems, specializing in providing innovative solutions for the water, irrigation, and drainage sectors, jumped 6 percent following acquisition of 100% stake in leading Italian pumping solutions Firm, MISA. Price action With a market capitalization of Rs. 7,028.39 crores on Wednesday, the shares of WPIL [...]
Will Nifty fall back to 22,000? Here’s what you need to know
The Indian stock market stands at a critical juncture, facing multiple potential challenges that could trigger a significant market correction. Investors are navigating a complex landscape marked by year-end mutual fund portfolio adjustments, foreign institutional investor profit booking, geopolitical tensions, and uncertainties surrounding global economic policies. The Nifty index faces potential volatility from factors including [...]
Smart meter stock in focus after winning ₹3467 Cr project for installation of 76 Lakh smart meters
Smart meters are advanced electronic devices that record energy consumption in real time and transmit the data to utility companies for more efficient monitoring and billing. These meters enable consumers to better manage their energy usage while helping utilities optimize their grid operations. The smart meter sector in India is rapidly evolving, with companies such [...]
Bluechip stock to buy now for an upside of 36%; Do you own it?
The O2C (Oil-to-Chemicals) sector in India is projected to face challenges throughout FY25 due to weak macroeconomic conditions and declining demand, particularly in petrochemicals and transportation fuels. Analysts anticipate a slow recovery and with margins remaining under pressure from geopolitical tensions and global supply issues. In the telecom and retail sectors, Reliance Industries is expected [...]
EV stock hits 5% upper circuit after signing MoU to expand its EV charging infrastructure
EV stock engaged in designing, manufacturing, and servicing DC Power systems and Li-ion-based energy storage solutions hit a 5 percent upper circuit in the day’s trade upon signing MoU to develop and expand EV charging infrastructure. Price Action With a market capitalization of Rs. 3,024 Crores, the shares of Exicom Tele-systems Limited hit a 5 [...]
FMCG stock jumps 3% after promoter made an open offer to buy 26% stake in the company
The snacks and namkeen industry in India is a rapidly growing sector driven by a shift in consumer preferences towards convenient, ready-to-eat food. Traditional snacks, such as namkeen, sev, and bhujia, alongside modern innovations, are in high demand across urban and rural areas. Major players in the sector include Bikaji, Prataap Snacks (maker of brands [...]
EV stocks to benefit after Govt plans to provide 80% subsidy to set up EV fast charging stations
The Central Govt of India will provide an 80 percent or higher subsidy on the upstream infrastructure required to set up electric public fast charging stations across the country under the Rs. 2,000 crore PM Electric Drive Revolution in Innovative Vehicle Enhancement. According to draft guidelines from the Ministry of Heavy Industries (MHI), the subsidy [...]
4 PSU bank stocks with price to book value less than 1.5 to add to your watchlist
The Price-to-Book Value (P/BV) ratio is a key indicator used to evaluate the market valuation of a company relative to its book value. A P/BV ratio of less than 1.5 suggests that a company's stock is trading at a price less than 1.5 times its book value, often indicating undervaluation or potential market pessimism. In [...]
Solar pump stock jumps 5% after company’s board approved to raise ₹400 Cr
Smallcap stock engaged in the manufacturing and selling of a wide range of pumps, motors, spare parts, and EV components jumped upto 5 percent in the day’s trade after the board approved raising funds not exceeding Rs. 400 Crores. Price Action With a market capitalization of Rs. 15,075 Crores, the shares of Shakti Pumps (India) [...]
IT stock jumps 18% after acquiring 100% stake in Latin American based company
In Tuesday's trading session, smallcap stock, specializing in customer engagement, back-office operations, and digital transformation solutions, jumped 18 percent following acquisition of 100 percent stake in a Latin American-based contact center. Price action With a market capitalization of Rs. 1,310.17 crores on Tuesday, the shares of One Point One Solutions Limited were trading at Rs. [...]
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Retail inflation rises to 5.59 pc in December, compared to 4.91 pc in November: Govt data. PTI KPM NKD ABM ABM
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Letter of Intent for sale of govt stake in Central Electronics Ltd to Nandal Finance & Leasing not yet issued: DIPAM Secretary told PTI. PTI JD ANZ BAL BAL
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Infosys raises FY22 revenue growth outlook to 19.5-20 per cent from previous guidance of 16.5-17.5 per cent: Filing. PTI SR MBI BAL BAL
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Top Editor’s Pick
Why Mutual Funds Remain a Popular Choice in 2025
You’re not alone if you’ve been thinking more seriously about where your money goes. With daily expenses rising and long-term goals in sight, it’s only natural to look for ways to grow your savings without constant monitoring. That’s where mutual funds come into the picture. They’ve quietly remained a favourite for many over the years. [...]
Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
Latest Market News
3 Companies that have increased their net profits by more than 400%
At the end of every three months or a quarter, the listed companies in India are expected to release their earrings. In the report, the company reports the total amount of earnings, expenses, and profits in the period. It helps the investors to understand the financial health of the company. Here are 3 companies that [...]
Weekly Recap: RBI’s comment on Adani crisis, EV sales decline, Q3 results and more
Domestic benchmark gauges started the week with a flat opening. The Nifty 50 opened at 17818.55 points and the BSE Sensex at 60847.21. The Adani Crisis continued to cast a shadow on investor sentiments this week. The markets ended on a lower note on Friday, due to selling pressure in metal and energy stocks. Snapping [...]
8 Stocks that will trade ex-dividend next week; Are you holding any?
It is a common practice for companies to announce dividends along with their quarterly results. With the ongoing results, multiple companies across various industries have declared a sum of money to be awarded to their inventors in the form of dividends. Here is a list of 8 companies that are going to trade ex-dividend in [...]
FIIs have increased their stake in Yes Bank by 11%; Should you buy the shares?
Private lenders like Axis Bank, ICICI Bank, Kotak Mahindra Bank and IDFC First Bank bought a stake in Yes Bank in March 2020, after the handover of Yes Bank’s management to the State Bank of India (SBI). These shares were bought at ₹ 10 apiece. About 75 percent of the total shareholding in the bank [...]
Inox Green Energy Service Q3 Results: Consolidated net profit at Rs 4.7 crore
Inox Green Energy Service on Friday posted a consolidated net profit of Rs 4.7 crore in the December quarter. However, the company did not provided consolidated net profit or loss figures for the corresponding quarter ended on December 31, 2021 in a regulatory filing. It had reported a loss of Rs 18.87 crore in the [...]
EKI Energy Services Q3 Results: Consolidated net profit at Rs 45 cr
EKI Energy Services on Friday posted a consolidated net profit of Rs 45.20 crore for the quarter ended December 31, 2022. The regulatory filing by the company on the quarterly results, however, did not provide the consolidated net profit figure for the corresponding quarter of the previous fiscal. According to the filing, the consolidated net [...]
Cement stock to BUY for an upside potential of 47%; Do you own it?
Nuvoco Vistas Corporation Ltd, the fifth-largest cement group in India, saw its shares increase by 2.5 percent in the early hours on Friday to trade at Rs 380 levels. The scrip traded in green even after the company posted disappointing quarterly earnings. In Q3FY23, the company posted a loss of 75.29 Crores as against a [...]
Dhanuka Agritech Q3 Results: Consolidated net profit up 8% YoY
Agrichemical firm Dhanuka Agritech on Friday reported an 8 per cent growth in consolidated net profit at Rs 46.07 crore for the quarter ended December on higher income. Its profit stood at Rs 42.52 crore in the year-ago period. The company's revenue rose 10 per cent to Rs 393.37 crore in the third quarter of [...]
BEML Q3 Results: Profit drops 16% YoY
BEML on Friday reported a 15.5 per cent decline in consolidated profit at Rs 66.30 crore for the quarter ended December 31, 2022. The company had posted consolidated profit of Rs 78.51 crore in the corresponding quarter of previous fiscal, BEML said in a regulatory filing. The consolidated income of the company during the third [...]
Rajasthan Budget: Gehlot announces inflation relief package of Rs 19,000 crore
Presenting the last budget of his government before the Assembly polls, Rajasthan Chief Minister Ashok Gehlot announced a Rs 19,000 crore inflation relief package that includes free food packets every month to poor families, LPG cylinders for Rs 500 to Ujjwala Scheme beneficiaries and free electricity up to 100 units per month to domestic consumers. [...]
BHEL Q3 Results: Consolidated net profit rises 57% YoY
State-owned engineering firm BHEL on Friday posted a 56.5 per cent rise in its consolidated net profit to Rs 42.28 crore in the December quarter mainly on the back of higher revenues. The consolidated net profit of the firm was Rs 27.02 crore in the year-ago period, according to a regulatory filing. Total income rose [...]
Pakistan agrees to IMF conditions, staff-level accord still pending: Finance Minister Dar
The Pakistan government has received a memorandum on the terms and conditions from the IMF for the completion of a USD 7 billion loan programme, Finance Minister Ishaq Dar said on Friday but acknowledged that both sides are yet to clinch a staff-level agreement on the much-needed bailout for the cash-strapped country. Dar made the [...]
India rated among top five accreditation systems in the world: Report
India has been ranked fifth among 184 countries in terms of its accreditation system, according to the recently released Global Quality Infrastructure Index (GQII) 2021. The GQII ranks 184 economies on the basis of their quality infrastructure (QI). India's overall QI system ranking continues to be tenth. According to the index, India was ranked 21st [...]
Govt to revoke ban on fintech firms LazyPay, Kissht
The government will revoke the ban imposed on fintech firms LazyPay and Kissht after representations were made by these companies, a senior official said on Friday. The government last week ordered the blocking of 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service. Sources said that [...]
Moody’s cuts rating outlook on 4 Adani companies
Moody's Investor Service on Friday revised downwards the rating outlook on four Adani Group companies to negative from stable after a significant and rapid decline in market value following a report by US-based short seller Hindenburg Research. In a statement, Moody's said the rating outlook for Adani Green Energy Ltd, Adani Green Energy Restricted Group, [...]
South African President Ramaphosa declares ‘State of Disaster’ over ‘debilitating’ electricity crisis
South African President Cyril Ramaphosa has announced a "State of Disaster" due to the country's "debilitating" electricity crisis, just 10 months after the Covid-induced "State of Disaster" was lifted. Ramaphosa during his annual State of the Nation address on Thursday said an electricity minister would be appointed to deal with the matter more effectively and [...]
Milk prices increased due to rise in fodder cost: Union minister Balyan
Milk prices in the country have risen due to increase in the feed and fodder cost, Union Minister Sanjeev Kumar Balyan said in Rajya Sabha on Friday. Balyan, who is Minister of State of Fisheries, Animal Husbandry and Dairying, said dairy companies pass on 75 per cent of the retail price to farmers. There is [...]
Founder Nate Anderson says Hindenburg has never been banned
Nathan Anderson, the founder of Hindenburg Research whose damning report led to a USD 100 billion-plus rout in Adani Group shares, has said that his firm has never been banned, its bank account never seized and that it is not under any investigation. Since it published a scathing 100-plus-page report alleging that Adani pulled "the [...]
These stocks might see an inflow of funds as MSCI rejigs its portfolio
Investment research firm Morgan Stanley Capital International (MSCI) on Thursday rejigged its MSCI India Index as a part of its regular review for February. A few Indian stocks were added to its portfolio, whereas a few others were removed. These changes will be effective from February 28, 2023. Index funds, hedge funds, exchange-traded funds and [...]
PSU stock in green as company reports 3851% increase in net profits; Are you holding it?
Insurance behemoth Life Insurance Corporation of India’s (LIC) shares rose 4.38% on Friday’s early trades, in an otherwise weak market after the company reported a multifold rise in its net profit for the October-December quarter of 2022. Its shares reached an intraday high of ₹ 640.00 apiece and were trading at ₹ 622.55 apiece at [...]
IRB Infra toll revenue grows 36% to Rs 374.81 cr in Jan
IRB Infrastructure Developers Ltd (IRB) on Friday said its revenue from toll collection grew 36 per cent to Rs 374.81 crore in January 2023. The toll collection stood at Rs 276.44 crore in January 2022, IRB said in a statement. "The consistently robust growth in toll revenue across all our projects over last year reflects [...]
Mahindra & Mahindra Q3 Results: PAT climbs 14% YoY
Mahindra & Mahindra (M&M) on Friday reported a 14 per cent rise in its profit after tax (PAT) to Rs 1,528 crore for the third quarter ended December 2022, driven by robust sales. The Mumbai-based automaker had reported a net profit of Rs 1,335 crore for the October-December period of the previous fiscal. Its revenue [...]
Monopoly stock announces dividend as Q3 profits rise 22%; Are you holding it?
Indian Railway Catering and Tourism Corporation (IRCTC) remained in focus on Friday after the monopoly reported a growth in its quarterly revenue and net profits numbers. In Q3FY23, the company reported a total revenue of Rs 918.06 Crores, an increase of 70 percent YoY from Rs 540.21 Crores and 14 percent QoQ from Rs 805.8 [...]
GAIL signs advance pricing agreement with CBDT
State-owned GAIL (India) Ltd has signed an advance pricing agreement with the Central Board of Direct Taxes (CBDT) for determining the transfer pricing margin payable on the long-term LNG the firm sources from the US. The pact was signed by Rasmi Ranjan Das of CBDT and R K Jain, Director (Finance), GAIL, the company said [...]
Fundamentally strong stock hits 20% upper circuit after robust Q3 results
WPIL Ltd, a leading pump and pumping systems company saw its shares hit an upper circuit of 20 percent at Rs 1,683 levels and reach a new all-time high in the early hours of Friday. The shares climbed to a high after it reported robust quarterly earnings growth. In Q3FY23, the company reported a total [...]
RITES Q3 Results: PAT rises to Rs 147 cr YoY
RITES Ltd has reported 2.3 per cent rise in consolidated profit after tax (PAT) at Rs 147.18 crore for the quarter ended December 31, 2022. The company had logged a PAT of Rs 143.87 crore in the year-ago period, RITES said in a filing to the BSE. Revenue from operations in October-December 2022-23 declined to [...]
Global Investors Summit: Aditya Birla Group commits Rs 25,000 cr investment in Uttar Pradesh
Aditya Birla Group on Friday committed Rs 25,000 crore investment across its various businesses in Uttar Pradesh. Speaking at Global Investors Summit here, Kumar Mangalam Birla said the investment would go into various businesses like cement, metals, chemicals, financial services and renewable energy. The Mumbai-based group's seven businesses have a significant presence in Uttar Pradesh, [...]
Stock to BUY: Blue Chip Stock that can deliver more than 30% returns
Mukesh Ambani-led Reliance Industries’ shares have lost 14% in over two months. They were at ₹ 2723 levels at the beginning of December and were trading at ₹ 2331.95 apiece at 11:31 AM on Friday. Abhijeet Bora, DVP Research Analyst at Sharekhan by BNP Paribas said that a decline in the share price of Reliance [...]
United Breweries Q3 Results: Consolidated net loss at Rs 1.81 cr
Beer maker United Breweries Ltd on Thursday reported a consolidated net loss of Rs 1.81 crore in the third quarter ended December 31, 2022 on account of impairment of assets in Tamil Nadu and Andhra Pradesh, besides higher expenses. The company had posted a consolidated net profit of Rs 91.02 crore in the same quarter [...]
Air India finalises deal with Airbus for buying around 250 planes
Air India has finalised an order for around 250 aircraft with Airbus and the deal is expected to be announced next week, a source said on Thursday. The source in the know also said the airline has signed a deal with Boeing for about 200 planes. Specific details could not be immediately ascertained and there [...]
ITDC Q3 Results: Posts profit of Rs 60.73 cr
India Tourism Development Corporation (ITDC), a public sector undertaking under the Ministry of Tourism, on Thursday posted a profit of Rs 60.73 crore in the third quarter of FY23. ITDC announced the results for quarter and nine months ended December 31, 2022. The turnover during October-December 2022 stood at Rs 123.13 crore, which was the [...]
Adani Total Gas Q3 Results: Net profit rises 13% YoY
Adani Total Gas Ltd -- the joint venture of Adani group and TotalEnergies of France which retails CNG to automobiles and piped gas to households -- on Thursday reported a 13 per cent increase in net profit as sales rose. Net profit of Rs 148 crore in October-December compares to Rs 132 crore earnings in [...]
Competition Comm approves NIIF’s stake purchase in Hindustan Ports
The Competition Commission of India (CCI) on Thursday cleared the acquisition of stake in Hindustan Ports Pvt Ltd by National Investment and Infrastructure Fund (NIIF). The proposed transaction relates to NIIF's acquisition of up to 25 per cent in Hindustan Ports Pvt Ltd (HPPL). The regulator also approved the merger of Hindustan Infralog Pvt Ltd [...]
Garware Technical Fibres Q3 Results: Consolidated PAT falls 4%
Technical textiles manufacturer Garware Technical Fibres (formerly Garware-Wall Ropes) on Thursday reported a 4 per cent fall in consolidated profit after tax at Rs 36.6 crore during the December quarter. The company's Profit After Tax (PAT) stood at Rs 38.1 crore in the year-ago period, Garware Technical Fibres said in a regulatory filing. Net sales [...]
Zomato Q3 Results: Consolidated net loss widens to Rs 346.6 crore
Online food delivery platform Zomato Ltd on Thursday reported a widening of consolidated net loss at Rs 346.6 crore in the third quarter ended December 31, 2022 impacted by higher expenses and slowdown in food delivery business. The company had posted a consolidated net loss of Rs 67.2 crore in the same quarter last fiscal, [...]
Lupin Q3 Results: Consolidated net profit slumps 72% YoY
Drug maker Lupin has reported 72 per cent decline in consolidated net profit at Rs 153 crore for the third quarter ended December 31, 2022. The company had reported a net profit of Rs 545 crore for October-December period last fiscal. Total revenue from operations however increased to Rs 4,322 crore as compared with Rs [...]
IREDA Q3 Results: PAT rises 87% YoY
State-owned IREDA on Thursday posted a rise of 87 per cent in its profit after tax at Rs 200.75 crore in the December 2022 quarter, mainly on higher income. The company had clocked a PAT (profit after tax) of Rs 107.19 crore during October-December quarter of preceding 2021-22 fiscal, Indian Renewable Energy Development Agency (IREDA) [...]
Shriram Life Q3 Results: Profit grows multi-fold to Rs 31 cr
Shriram Life Insurance Company (SLIC) on Thursday posted a multi-fold jump in net profit at Rs 31 crore for the third quarter of FY'23. The company had earned a profit of Rs 1.8 crore in the same quarter a year ago, SLIC said in a statement. During the quarter, the company's gross premium rose 12 [...]
Aurobindo Pharma Q3 Results: Consolidated net profit down 18.7% YoY
Aurobindo Pharma Limited on Thursday said its consolidated net profit for the quarter ended December 31 was down by 18.7 per cent to Rs 491.2 crore against Rs 604.3 crore in Q3FY22. A press release from the drug maker said revenue from operations during the quarter under discussion was up by 6.7 per cent to [...]
LIC Q3 Results: Net income jumps manifold to Rs 6,334.2 crore
Higher premium income and investment gains boosted the public sector life insurer LIC's net income manifold to Rs 6,334.2 crore during the three months ending December 2022 as against Rs 235 crore a year ago. The Life Insurance Corporation (LIC) on Thursday said it has earned Rs 1,11,787.6 crore in net premium income during the [...]
Greaves Cotton to acquire motion-control systems player Excel Controlinkage
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 [...]
LIC chairman says, will meet Adani Group top management soon
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 [...]
Sensex, Nifty fall in early trade
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 [...]
Voltas Q3 Results: Consolidated net loss of Rs 110 crore
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 Q3 Results: Consolidated net profit more than doubles YoY
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 [...]
HPCL Q3 Results: Standalone net profit up at Rs 172 cr, compared to losses in previous Qtrs
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 [...]
KPTL Q3 Results: Net profit falls 58% YoY
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 [...]
Dish TV calls EGM on March 3, seeks shareholders’ nod for appointment of 4 ind directors
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 Q3 Results: Consolidated net profit dips 22% YoY
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 [...]
Validation of Hindenburg’s findings? See what MSCI has to say about the Adani Group
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 [...]
GIC Re Q3 Results: Net profit at Rs 1,201 cr compared to loss of Rs 28.48 year ago
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 [...]
CDSL now has more than 8 crore active demat accounts
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 [...]
Stock with high FII holding of 42% may gain 402 per share; Check what experts have to say
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, [...]
Sensex, Nifty clock gains for 2nd day
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 [...]
Indian Overseas Bank Q3 Results: Profit rises 22%
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 [...]
Devyani International Q3 Results: Consolidated net profit rises 7.6%
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 [...]
Fundamentally strong stock to BUY now after it bags order worth ₹ 2,585 cr from Indian army
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 Q3 Results: Consolidated PAT drops 63%
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 Budget 2023 | How startups reacted to the Budget
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 [...]
Lupin bags USFDA nod to market generic product in US market
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, [...]
All states, UTs, govt departments to integrate with national single window system by Dec: DPIIT Secy
All the states, union territories and 32 central government departments will integrate with the National Single Window System (NSWS) by December this year, through which companies can seek all approvals and clearances for their businesses, a top official said on Thursday. So far 19 states/UTs and 27 central government departments are already onboarded, including Andhra [...]
Equity mutual funds inflow hits 4-month high at Rs 12,546-cr in Jan on strong SIP flows
Driven by buoyant SIP flows, equity mutual funds have attracted Rs 12,546 crore in January, making it the highest net infusion in four months, despite volatility in stock markets. This was way higher than Rs 7,303 crore inflow seen in December, Rs 2,258 crore in November and Rs 9,390 crore in October. Prior to that, [...]
Tata Group stock jumps 7.59% today; Motilal Oswal sees further upside in it
Trent Ltd, a Tata Group company, which owns Westside and Zudio posted stellar results for the October to December quarter of 2022, after which its share price appreciated to the tune of 7.59 percent to reach an intraday high of ₹ 1329.90 apiece. The company’s shares were trading at ₹ 1315.00 apiece at 11:44 AM [...]
MRF Q3 Results: Consolidated net profit rises 17% YoY
Tyre maker MRF Ltd on Thursday reported a 17 per cent rise in consolidated net profit from continuing operations at Rs 174.83 crore for the third quarter ended December 31, 2022. The company had posted a consolidated net profit from continuing operations at Rs 149.39 crore in the same quarter last fiscal, MRF Ltd said [...]
Vijay Kedia EV stock jumps 9% to hit a 52 week high, Do you own it?
Atul Auto Limited saw its share jump by more than 9 percent in the early hours on Thursday to reach a 52-week high of Rs 376.80. In the span of a month, the stock has gained more than 34 percent. In Q3FY23, the company reported a total revenue of Rs 133.51 Crore which was an [...]
Midcap stock declares a dividend of ₹ 12 per share; reaches new 52 week high
The shares of Cummins India Ltd opened 4 percent higher at Rs 1,540 levels on Thursday as against its previous close of Rs 1,474. It further gained and reached a new 52-week high of Rs 1,618 in the early hours. The scrip gained after the company reported positive Q3 numbers. In Q3FY23, the company reported [...]
Multibagger stock with 568% returns declares a 1:10 stock split; Check the details
The shares of KBS India Ltd appreciated to the tune of 5% to hit the upper circuit on Thursday’s early trades. Its shares were locked at ₹ 95.90 apiece at 11:00 AM on the National Stock Exchange (NSE) KBS India is a micro-cap company with a market capitalization of ₹ 98.93 crores in the financial [...]
Vedanta Resources’ liquidity hinges on fund-raising: S&P
Mining billionaire Anil Agarwal-led Vedanta Resources' liquidity will depend on a USD 2 billion fundraising exercise and the proposed sale of international zinc assets to Hindustan Zinc Ltd, S&P Global Ratings said. The rating on Vedanta Resources will likely come under immediate pressure if neither of these transactions progresses over the coming weeks, S&P said [...]
FM urges IMF to develop globally coordinated approach to crypto asset regulations
Finance Minister Nirmala Sitharaman on Thursday held a discussion with IMF managing director Kristalina Georgieva and urged the multi-lateral funding agency to develop a globally coordinated approach to the regulation of crypto assets. The Finance Minister held a virtual conversation with the International Monetary Fund (IMF) MD to discuss the upcoming G20 Finance Ministers and [...]
4 Stocks in which Mutual funds hold more than 30% stake; Do you hold any?
Even though investing directly in stocks remains a popular choice among investors, Mutual Funds are gaining traction in the Indian stock market. A fund house creates a mutual fund that consists of multiple asset classes. The funds help the investor achieve diversity with a consistent return over a period of time. These fund houses pick [...]
Jio-bp rolls out E20 petrol with 20% ethanol
Jio-bp, the fuel and mobility joint venture of Reliance Industries Ltd and UK's bp, has launched petrol blended with 20 per cent ethanol, aligning with the government programme to cut oil imports and reduce carbon emissions. "In line with the roadmap set by the Government, Jio-bp has become one of the first fuel retailers in [...]
Gati Q3 Results: Net loss at Rs 4.7 crore
Gati Ltd on Wednesday reported its consolidated loss at Rs 4.70 crore in the quarter ended December 2022. In contrast, the company had posted a consolidated profit of Rs 5.02 crore in the corresponding quarter of previous fiscal, Gati Ltd said in a BSE filing. The consolidated income of the company during the October-December quarter [...]
Cummins India Q3 Results: Standalone PAT rises 50% YoY
Engine manufacturer Cummins India standalone profit after tax rose 50 per cent to Rs 360.14 crore in the December quarter of 2022-23 over the same period last year. Cummins India had recorded a profit of Rs 240.97 crore in the third quarter of financial year 2021-22. Total sales for the quarter were Rs 2,144 crore, growing [...]
Ircon International Q3 Results: Consolidated PAT rises 40% YoY
Ircon International Ltd on Wednesday reported a 40.2 per cent rise in consolidated profit after tax to Rs 190 crore for the quarter that ended December 31, 2022. The company had posted a consolidated PAT of Rs 135.5 crore in the year-ago period, IRCON International Ltd said in a filing to BSE. The consolidated income [...]
Pricol Ltd Q3 Results: Consolidated PAT at Rs 26.76 cr
Pricol Ltd, an automobile component manufacturer, has reported consolidated profit for the quarter ended December 31, 2022 at Rs 26.76 crore, the company said on Thursday. The Tamil Nadu based company had registered consolidated PAT at Rs 17.34 crore during corresponding quarter last fiscal. For the nine month period ended December 31, 2022 the consolidated [...]
Analysts expect another 25 bps hike in April policy
Analysts are of the view that after delivering the seventh hawkish policy on Wednesday the central bank may pause after delivering a likely 25 basis points increase in the April review. For Abheek Barua, the chief economist at HDFC Bank, the 25 bps repo hike and keeping its withdrawal of accommodation stance unchanged are on [...]
Rane (Madras) Ltd Q3 Results: Standalone PAT jumps 300% YoY
Steering and suspension products manufacturer Rane (Madras) Ltd has reported over 300 per cent jump on its standalone profit after tax for the quarter ended December 31, 2022, at Rs 33.3 crore, the company said on Thursday. The company had registered standalone PAT at Rs 7.7 crore during corresponding quarter last fiscal. Total revenue on [...]
Sensex drops nearly 115 points in early trade; Nifty tests 17,800
Equity benchmark Sensex dropped nearly 115 points in early trade on Thursday tracking losses in index heavyweights Maruti, Tata Motors and Reliance industries amid mixed global cues. Besides, a weak rupee against major rivals and persistent foreign capital outflows impacted domestic equity market sentiments, traders said. In a volatile trade, the 30-share BSE index was [...]
Number of recognized startups rises to 86,713 as of Dec 2022
As many as 86,713 startups have been recognised by the government as on December 31, 2022, Parliament was informed on Wednesday. These startups are eligible to avail fiscal incentives under the Startup India action plan of the government. "As a result of sustained government efforts, the number of recognized startups has increased from 445 in [...]
Escorts Kubota Q3 Results: Consolidated net profit delines 6% YoY
Farm and construction equipment manufacturer Escorts Kubota Ltd on Wednesday posted a 6.7 per cent decline in consolidated net profit to Rs 180.8 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 193.71 crore in the same period last fiscal, Escorts Kubota Ltd said in [...]
France’s Total puts hydrogen partnership with Adani on hold for now
France's TotalEnergies, one of the largest foreign investors in billionare Gautam Adani's business empire, said it has put on hold participation in Indian conglomerate's USD 50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller. While the partnership with Adani group was announced in June last year, TotalEnergies has [...]
Midcap multibagger stock declares a 1:3 bonus issue; Check the details
Pipe manufacturer Astral’s board of directors in their meeting held on Tuesday, February 07, 2023, considered and approved the issue of bonus shares in the proportion of 1:3, or 1 equity share for every three shares held as of the record date. The Company has fixed Tuesday, March 14, 2023, as the Record Date, for [...]
No proposal to increase overseas investment limits for MFs: Das
There is no proposal to increase the overseas investment limits for domestic mutual funds at the moment, Reserve Bank Governor Shaktikanta Das said on Wednesday. Speaking to reporters at the customary post-policy review press conference, Das acknowledged that there have been requests from mutual funds and other market players for relaxations of the limits. "We [...]
E-Re to be piloted by 5 more banks in 9 more cities soon
Five more banks will join the pilot on the central bank digital currency or e-rupee for retail customers and the project will be extended to nine additional cities, the Reserve Bank said on Wednesday. The Reserve Bank, which began piloting the central bank digital currency or e-rupee for retail customers in early December with eight [...]
Adani Power Q3 Results: Consolidated net profit falls 96%
Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter 2022-23 mainly on the back of higher expenses. In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing. Total expenses increased to Rs 8,078.31 crore in the quarter [...]
Airtel teams up with Vultr to deliver cloud solutions to enterprises
Telecom firm Bharti Airtel and Vultr, a privately-held cloud computing company, on Wednesday announced a strategic partnership to offer cloud solutions to enterprises in India. As per the pact, Airtel will offer Vultr's suite of cloud solutions to its enterprise customers, especially those in the digital space and help them gain global reach and cost-performance [...]
Digital currency has 50,000 users, 5,000 merchants: RBI
The recently launched retail central bank digital currency (CBDC) pilot has 50,000 users and 5,000 merchants, the RBI said on Wednesday. "We want the process to happen, but we want the process to happen gradually and slowly. We are in no hurry to make something happen so quickly," Deputy Governor T Rabi Sankar said at [...]
Symphony Q3 Results: Consolidated net profit rises 86% YoY
Air cooler and appliances maker Symphony on Wednesday reported 85.71 per cent jump in consolidated net profit at Rs 39 crore for the third quarter ended December 2022. The company had logged a net profit of Rs 21 crore in October-December period a year ago, Symphony said in a regulatory filing. Revenue from operations rose [...]
Adani stock delivers 35% in 5 days; Analyst expect 41% more upside in it
Adani Ports and Special Economic Zone’s (APSEZ) share price zoomed 8.91% on Wednesday’s early trades to reach an intraday high of ₹ 602.45 apiece on the National Stock Exchange (NSE). This happened after the company said that it is considering a loan repayment of ₹ 5,000 crores. The company’s shares quoted at ₹ 598.15 apiece [...]
Uno Minda Q3 Results: Consolidated net profit rises 47% YoY
Auto components maker Uno Minda on Wednesday reported 47.21 per cent rise in consolidated net profit at Rs 173.95 crore for the third quarter ended December 31, 2022. The company had logged a net profit of Rs 118.16 crore in the same quarter last fiscal year, Uno Minda said in a regulatory filing. Revenue from [...]
Hero Electric partners with Dhoot Transmission for wiring harness solutions
Electric two-wheeler maker Hero Electric on Wednesday said it has partnered with Dhoot Transmission Pvt Ltd for new wiring harness solutions. The company's products will be equipped with the latest wiring harnesses of Dhoot Transmission under the partnership, it said in a statement. "Our partnership with Dhoot Transmission to procure wiring harnesses for our products [...]
Adani Wilmar Q3 Results: Consolidated net profit rises 15% YoY
Edible oil major Adani Wilmar Ltd on Wednesday reported a 15 per cent increase in its consolidated profit to Rs 246.11 crore for the third quarter ended December 2022, on higher revenue. Its net profit was Rs 211.41 crore in the year-ago period. The total income rose to Rs 15,515.55 crore in the third quarter [...]
Shree Cement Q3 Results: Consolidated net profit falls 41.61% YoY
Shree Cement Ltd on Wednesday reported a 41.61 per cent decline in consolidated net profit to Rs 281.83 crore in the third quarter that ended December 2022 due to an increase in input cost. The company posted a net profit of Rs 482.70 crore in the October-December quarter last fiscal, Shree Cement said in a [...]
TD Power Systems Q3 Results: Consolidated net profit up nearly 3% YoY
TD Power Systems on Wednesday posted nearly three per cent rise in its consolidated net profit at Rs 20.07 crore in the quarter ended December 2022. The consolidated net profit of the company was Rs 19.53 crore in the corresponding quarter that ended on December 31, 2021, showed a BSE filing. Total income rose to [...]
ABFRL Q3 Results: Consolidated net profit declines to Rs 11.21 cr
Shares of Aditya Birla Fashion and Retail Ltd (ABFRL) fell nearly 2 per cent in late morning trade on Wednesday after the fashion retailer reported decline in net profit for the third quarter. In late morning trade, shares of the firm fell 1.63 per cent to Rs 247.55 apiece on the NSE. On the BSE, [...]
KIOCL Q3 Results: Reduces net loss YoY to Rs Rs 33.88 cr
State-owned KIOCL has trimmed its net loss to Rs 33.88 crore during the October-December quarter of FY23, helped by reduced expenses. The company had posted Rs 86.68 crore net loss during the same period of the preceding fiscal, KIOCL said in a regulatory filing. KIOCL has also reduced its expenses to Rs 340.99 crore from [...]
Large cap auto stock to Buy now for an upside of more than 25%; Are you holding it?
India’s largest two-wheeler maker, Hero MotoCorp Limited, saw its shares decline by 2 percent till the afternoon on Wednesday to trade at Rs 2,605 levels. The scrip fell after the company reported muted sales in Q3. On a consolidated basis, Hero MotoCorp Limited reported a total revenue of Rs 8,118.33 which grew sideways on a [...]
Amid Adani Group developments, RBI chief says Indian banking system stronger, larger to be impacted by ‘case like this’
Reserve Bank Governor Shaktikanta Das on Wednesday said the strength, size and resilience of the Indian banking system now are much stronger and larger "to be affected by a case like this" in reference to the developments at Adani Group. Concerns have been raised in various quarters about Adani Group companies, including about the exposure [...]
UK government offers counter-package to Tata Steel for Port Talbot plant
The UK government has offered a counter-package to Tata Steel against its proposal seeking a financial package to execute its decarbonisation plans for its plant in Port Talbot, its global CEO and MD TV Narendran has said. However, there is a big gap between what Tata Steel had asked for and what the British government [...]
Cement stocks gain after Finance Minister indicated that GST on cement could be reduced
Cement stocks were trading in the green on Wednesday, a day after Finance Minister Nirmala Sitharaman indicated that the government could consider a reduction in the goods and services tax on cement. Cement stocks like India Cements (up 1.99%), UltraTech Cement (up 1.87%) Ramco Cements(up 1.53%) Heidelberg Cement India (up 1.97%) were in the green [...]
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