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Green energy stocks to benefit as India likely to receive $32 Billion in renewable energy investments in 2025
The International Energy Agency (IEA) forecasts that India will lead major economies, including China, in renewable energy capacity additions by 2030, with a projected increase from 15 GW in 2023 to 62 GW annually. This additional capacity can bring around $32 billion in investments in 2025. This growth aligns with India's target of 500 GW [...]
₹15.40 to ₹450: Power stock turns ₹10,000 to ₹2.92 lakhs in 5 Years
During the trading session of Friday, the shares of this company closed 0.25 percent lower at Rs. 450.10 on BSE. With a market capitalization of Rs. 7,029.82 crores, the shares of T D Power Systems Limited closed at Rs. 450.10, down 0.25 percent, and touched a day’s high of Rs. 451.25 per share. The stock [...]
Telecom stock hits the 20% upper circuit following robust orderbook and frequent volume spikes
In Friday's trading session, shares of one of the leading Telecom stocks, specialising in manufacturing telecommunications equipment and providing solutions, hit 20 percent upper circuit following a robust orderbook and frequent volume spikes. Price action With a market capitalization of Rs. 36,614 crores on Friday, the shares of Indian Telephone Industries (ITI) Limited hit 20 [...]
Stock hits 5% upper circuit after it partners with German based company for advanced drone solutions
Smallcap stock primarily engaged in the trading and manufacturing of mobile handsets, accessories, and other communication devices hit a 5 percent upper circuit in the day’s trade upon entering into partnership with a German company for advanced drone solutions. Price Action With a market capitalization of Rs. 6,702 Crores, the shares of Optiemus Infracom Limited [...]
Pharma stock jumps 8% after receiving order worth ₹15 Cr from Govt of Tanzania for condoms
The shares of this small-cap gained up to 8 percent in the morning session after the company bagged a prestigious purchase order from the Government of Tanzania for Rs 14.91 crore. With a market capitalization of Rs 2,129.67 crore, the shares of CUPID LTD were trading at Rs 79.74 per share, increasing around 5.31 percent [...]
Cement stock in jumps after receiving approval for amalgamation of its 3 wholly owned subsidiaries
In Friday's trading session, shares of one of the leading cement stocks, known for its specialized offerings including high-strength, environment-friendly cement variants, in focus after receiving exchange approval for the amalgamation of its three subsidiaries. Price action With a market capitalization of Rs. 9,822.51 crores on Friday, the shares of JK Lakshmi Cements Limited rose [...]
Logistic stock jumps 14% after receiving order worth ₹139 Cr from Vedanta
Smallcap stock engaged in offering comprehensive end-to-end logistics services, ensuring seamless movement of goods across multiple modes of transport jumped upto 14 percent in the day’s trade upon receiving new work order worth Rs. 139 Crores from Vedanta Limited. Price Action With a market capitalization of Rs. 1,265 Crores, the shares of Western Carriers (India) [...]
Harshad Mehta’s student banned from stock markets by SEBI for front running scam
India's stock market has grown to become one of the world's largest financial arenas. It now ranks among the top five globally by market capitalization. The total value of this bustling market reached an impressive $3.84 trillion. With such vast sums of money changing hands daily, the environment became ripe for exploitation. Greed and opportunity [...]
What is HMPV Virus that has emerged in China and can it cause a COVID-19 like situation again?
Global Markets in Panic following reports of a new Virus likely being emerged in China that May Lead to a New global pandemic and create havoc around the world, here is what happened earlier and what’s happening with the ongoing tensions around the world. Recap/Origin of the 2019 Pandemic During the joyful month of Christmas [...]
Green energy stock jumps 3% after its subsidiary receives LoI for solar power projects
The shares of the prominent renewable energy company jumped 3 percent after the company’s subsidiary received Letters of Intent for the development of solar power projects. With a market capitalization of Rs 10,878.21 crore, the shares of KPI Green Energy Ltd were trading at Rs 552.75 per share, decreasing around 3.43 percent as compared to [...]
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Income tax raids in UP, including an SP MLC from Kannauj, based on actionable intelligence: FM Nirmala Sitharaman. PTI JD ANZ MR MR
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Did taxmen return empty handed after raids, asks FM Sitharaman on opposition charge of tax raids being politically motivated. PTI JD ANZ MKJ
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Group of state ministers given time till February to look at GST rate rationalisation, says FM Nirmala Sitharaman after GST Council meeting. PTI JD ANZ MKJ
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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
CropLife India urges govt to provide tax sops on R&D expenditure in budget
CropLife India, an industry body of 16 agro-chemcial companies, has demanded that the government should provide tax sops in the upcoming budget on expenditures incurred for research and development (R&D). CropLife India would like to urge the government to "retain a uniform basic customs duty of 10 per cent for both technical raw materials and [...]
Gateway Distriparks Q3 Results: PAT rises 15% to Rs 55.3 crore
Inter-modal logistics firm Gateway Distriparks Ltd (GDL) on Tuesday reported a 15 per cent growth in its profit after tax at Rs 55.3 crore in December quarter over the same period last year. The company had recorded a PAT (profit after tax) of Rs 47.92 crore in the third quarter of FY22, GDL said in [...]
Maruti Suzuki’s profit doubles to ₹ 2351 crores; Brokerage sees huge potential
Buoyed by strong earnings for the October to December quarter, the shares of Maruti Suzuki India closed 3.31% higher at ₹ 8696.00 apiece on the National Stock Exchange (NSE). The auto major’s net profit for the December quarter more than doubled to ₹ 2391.5 crores, up 129.55% against ₹ 1041.8 crores reported in the same [...]
Sunteck Realty sales bookings rise 12% to Rs 396 crore YoY
Sunteck Realty Ltd on Tuesday reported a 12 per cent increase in its sales bookings to Rs 396 crore on better demand. The company's sales bookings stood at Rs 352 crore in the year-ago period. "We had pre-sales of around Rs 396 crore in Q3 FY23, up 12 per cent on YoY (Year on Year) [...]
PNB Housing Finance Q3 Results: Consolidated PAT rises 43% at Rs 269 cr YoY
PNB Housing Finance on Tuesday reported 43 per cent growth in consolidated profit after tax (PAT) at Rs 269 crore for the third quarter ended December 31, 2022. The company's net profit was Rs 188 crore in October-December period of 2021-22. Loan asset stood at Rs 58,034 crore as on December 31, 2022, as compared [...]
Oriental Hotels Q3 Results: Standalone profit at Rs 18.67 cr
Oriental Hotels Ltd has reported a standalone profit at Rs 18.67 crore for the October-December 2022 quarter, the company said on Tuesday. The company, part of the Taj Group of Hotels, has reported standalone profit at Rs 7.14 crore during corresponding quarter of previous year. For the nine-month period ending December 31, 2022 the standalone [...]
Strides Pharma Q3 Results: Consolidated net loss at Rs 82 crore
Strides Pharma Science on Tuesday reported a consolidated net loss of Rs 82 crore for the third quarter ended December 31, 2022. The drug firm had reported a net loss of Rs 127 crore in the October-December quarter of previous fiscal. Revenue from operations rose to Rs 865 crore for the quarter under review as [...]
Tata Coffee Q3 Results: Consolidated net profit falls 45% to Rs 38 crore YoY
Tata Coffee on Tuesday reported a 44.71 per cent decline in consolidated net profit during the December quarter at Rs 38.40 crore. The consolidated net profit of Tata Coffee Ltd (TCL) stood at Rs 69.46 crore in the year-ago period, it said in a regulatory filing. Consolidated total income for the quarter witnessed a 19.13 [...]
Time to Accumulate: 2 Bluechip stocks to BUY now for an upside of more than 40%
Out of the many categories of stocks, Blue-chip stocks are considered a safer choice. It is because they typically have solid balance sheets, steady cash flows, and proven business models. Along with this, the stock prices increase steadily and give significant returns. Here are 2 Bluechip stocks recommended by analysts for an upside of up [...]
SBI Card Q3 Results: Net profit rises 32% to Rs 509 crore YoY
SBI Cards and Payment Services Ltd on Tuesday reported a 32 per cent rise in its December quarter net profit at Rs 509 crore. The pure-play credit card company, promoted by SBI, had posted a net profit of Rs 386 crore during the corresponding period of the previous financial year. The company's total income grew [...]
Powergrid Infrastructure Investment Trust Q3 Results: Consolidated net profit dips 6%
Powergrid Infrastructure Investment Trust on Tuesday reported a more than six per cent decline in its consolidated net profit to Rs 216.82 crore in the December 2022 quarter. The consolidated net profit was Rs 232.63 crore in the quarter ended December 31, 2021, a BSE filing showed. The total income also declined to Rs 331.06 [...]
UCO Bank Q3 Results: Net profit more than doubles to Rs 653 cr YoY
UCO Bank on Tuesday reported more than two-fold jump in profit at Rs 653 crore for the quarter ended December 2022, driven by increase in interest income and decline in bad loans. Its net profit stood at Rs 310 crore in the same quarter of the preceding financial year. Total income increased to Rs 5,451 [...]
BPCL to set up 1 GW renewable energy plant in Rajasthan
Bharat Petroleum Corporation Ltd (BPCL) will set up 1 gigawatt (GW) of renewable energy capacity in Rajasthan as the nation's second-largest state oil refiner pivots its path to achieving a net zero emission target by 2040. In a statement, BPCL said it has signed a memorandum of understanding (MoU) with the government of Rajasthan for [...]
Multibagger Penny Stock hits upper circuit after 320% increase in Q3 net profit
The shares of Integra Essentia Ltd. appreciated to the tune of 10% after the company declared its results for the latest quarter. It is a penny stock and its shares were trading at ₹ 8.70 apiece at 12:55 PM on Tuesday. Integra Essentia has a market capitalization of ₹ 384 crores. It is a Fast [...]
Scrap windfall tax: FICCI to govt
The government should scrap the windfall profit tax on domestically produced crude oil as the levy is adversely impacting the capex-intensive exploration of oil and gas, the industry said in its recommendation for the forthcoming annual budget. India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super [...]
Maruti Suzuki Q3 Results: Net profit jumps over two-fold to Rs 2,351 cr YoY
Maruti Suzuki India on Tuesday reported over two-fold increase in its net profit to Rs 2,351.3 crore for the third quarter ended December 31, 2022, aided by robust sales. The auto major had reported a net profit of Rs 1,011.3 crore in the October-December quarter of the previous fiscal, Maruti Suzuki India (MSI) said in [...]
IIFL Securities Q3 Results: PAT down 25% to Rs 64 cr YoY
IIFL Securities on Tuesday reported a 25 per cent decline in profit after tax (PAT) to Rs 64.2 crore in three months ended December 2022. In comparison, the company had posted a PAT of Rs 86 crore in the same period of the last fiscal, IIFL Securities said in a statement. Total income also dropped [...]
Gland Pharma Q3 Results: Consolidated net profit declines 15% to Rs 232 cr YoY
Gland Pharma Ltd on Monday reported a 15 per cent decline in consolidated net profit at Rs 231.95 crore for the third quarter ended December 2022, impacted by production delays due to supply disruptions. The company had posted a consolidated net profit of Rs 273.03 crore in the same period last fiscal, Gland Pharma said [...]
Small cap stock hits 5% upper circuit; Delivers 147% returns in a month
The shares of Mangalam Seeds have been on a roll. They hit the 5% upper circuit and were quoting at ₹ 220.05 apiece at 11:46 AM on Tuesday and 3,692 shares changed hands on the bourses. The company’s shares have been on a gaining streak since January 12, 2023. The shares of Mangalam Seeds a [...]
3 Stocks jump more than 6% after delivering strong Q3 results; Do you own any?
The Indian equity benchmarks BSE Sensex and NSE Nifty 50 opened higher on Tuesday amid positive cues from global markets. This has led many stocks to trade in green on Tuesday. Along with the optimism in the markets, the strong quarterly numbers posted by companies are making the stocks rally. Here are 3 stocks that [...]
Tata Group Stock Enters Into A New 50:50 Joint Venture; Analysts see a 42% upside
Trent Limited, a Tata Group enterprise, on Friday executed a joint venture with MAS Amity Pte. Ltd to set up an entity in India for sourcing, designing and manufacturing activewear and related products. “MAS brings impeccable capabilities and a track record in the manufacture of high-quality products in this space. This collaboration between Trent and [...]
HFCL Q3 Results: Consolidated net profit up 25% to Rs 102 cr YoY
Domestic telecom gear maker HFCL Limited on Monday posted a 25.3 per cent year-on-year rise in consolidated net profit for the December 2022 quarter at Rs 102 crore. Its net profit stood at Rs 81 crore in the corresponding period of previous year, according to a company statement. Revenue came in at Rs 1,086 crore [...]
Poonawalla Fincorp Q3 Results: Net profit up 88% to Rs 150 cr YoY
Poonawalla Fincorp Limited on Monday reported an 88 per jump in net profit to Rs 150 crore for the third quarter ended December 2022. The non-deposit-taking non-banking finance company (NBFC) focusing on consumer and MSME finance had reported a net profit of Rs 80 crore in the year-ago period. Total income in the quarter rose [...]
Sebi penalises Wealthit Global, proprietor for violating regulatory norms
Sebi on Monday slapped a penalty of Rs 30 lakh on Wealthit Global and its proprietor Mohit Manghnani for violating regulatory norms. In addition, the two have been restrained from the securities markets for a period of five years. Wealthit Global is a Sebi-registered Investment Adviser. The order came after the regulator had conducted an [...]
Rajasthan govt signs agreements for investment worth Rs 1.36 lakh crore
The Rajasthan government on Monday signed agreements for investment worth Rs 1.36 lakh crore in the state. The investment was committed under Invest Rajasthan, which was held in October last year. Agreements of 26 projects related to industires, energy, tourism and other sectors were signed at the chief minister's residence. Nearly 17,000 people will get [...]
Tata Communications Q3 Results: Consolidated net profit flat at Rs 394 cr YoY
Tata Communications on Monday reported a consolidated net profit of about Rs 394 crore for the just-ended December 2022 quAarter, a tad lower than the year-ago period. The Q3 FY23 net profit was 0.3 per cent lower than last year's figure of about Rs 395 crore (profit for the period attributable to equity holders of [...]
PM prioritizing energy sector in NE: Puri
Prime Minister Narendra Modi has always prioritised the energy sector of the North East, Petroleum and Natural Gas Minister Hardeep Singh Puri said here on Monday. The prime minister's priority is to put the region in the high growth trajectory and as such he is putting great emphasis on the energy sector, Puri said while [...]
Sensex, Nifty advance on gains in IT, financial stocks amid global gains
Benchmark equity indices Sensex and Nifty advanced nearly half a per cent in early trade on Tuesday following gains in IT and financial stocks amid positive global cues. The 30-share BSE Sensex rose by 273.27 points or 0.45 per cent to 61,214.94 as 21 of its constituents traded in the green. The barometer opened stronger [...]
B20 meet: Gujarat aims to become world centre for green hydrogen in next 12 yrs with 8 MTPA production capacity
Gujarat aims to become the world centre for green hydrogen by creating an estimated 8 MTPA production capacity in another 10-12 years, state Industries Minister Balwantsinh Rajput has said. Addressing a plenary session on "Gujarat's G20 Connect" as part of the Business 20 India Inception Meeting on Monday, Rajput said as a driving force, Gujarat [...]
India’s services exports to cross USD 300 bn target for this fiscal: Goyal
The country's services exports are doing “extremely well” and going by the current trend these outbound shipments would register about 20 per cent growth in this fiscal and cross the USD 300 billion target despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. He said that on the merchandise front also, exports [...]
Small cap stock hits fresh 52 week high after Motilal Oswal AMC buys 2.5% stake in it
Motilal Oswal Funds on 20 January bought a 2.5 per cent stake in Hi-Tech Pipes, a small-cap multibagger stock. On Monday, the stock gained 2.53% to reach a fresh 52-week high of ₹ 989.65 apiece on the National Stock Exchange (NSE). Its shares closed at ₹ 972.25 apiece. Motilal Oswal AMC picked up 3 lakh [...]
UltraTech Cement stock fall nearly 5% after quarterly results
Shares of UltraTech Cement on Monday declined by nearly 5 per cent after the firm reported a decline in its consolidated net profit for the third quarter. The stock of the largest cement manufacturer fell 4.62 per cent to settle at Rs 6,846.90 apiece on the BSE. On the NSE, it declined by 4.42 per [...]
Reliance Industries debt increases 18%; Should investors be worried?
Reliance Industries (RIL) on Friday announced its results for the October to December quarter of 2022. Its consolidated net profit after tax came in at ₹ 15,792 crores, down 15% year on year (YoY) and its revenue increased 15.3% YoY to ₹ 2.20 lakh crores. In addition, its board approved raising ₹ 20,000 crores through [...]
Vistara turns profitable for first time in December 2022 quarter
Full service carrier Vistara on Monday said it reported a profit for the first time since inception in the three months ended December 2022. Without disclosing the exact profit figure in the December quarter, the airline also said it crossed the USD 1 billion revenue mark and remained EBITDA positive in the current fiscal year. [...]
RattanIndia Power Q3 Results: Consolidated net loss widens to Rs 479cr
RattanIndia Power on Monday reported widening of its consolidated net loss to Rs 479.76 crore for the December quarter, mainly due to higher expenses. The consolidated net loss of the electricity producer stood at Rs 386.69 crore in the quarter ended December 31, 2021, as per a BSE filing. Total expenses rose to Rs 1,411.05 [...]
Triveni Turbine Q3 Results: Consolidated net profit up over 47% to Rs 52 cr
Triveni Turbine on Monday posted an over 47 per cent rise in consolidated net profit to Rs 52.60 crore for the December quarter, helped by higher revenues. The consolidated net profit of the company stood at Rs 35.67 crore in the quarter ended December 31, 2021, showed a BSE filing. Total income rose to Rs [...]
Sebi asks PayMate India to refile IPO papers with certain updates
Sebi has asked B2B payments and services provider PayMate India to refile the documents for the initial public offering with certain updates. PayMate India had filed the Draft Red Herring Prospectus (DRHP) for a Rs 1,500 crore-IPO with the Securities and Exchange Board of India (Sebi) in May 2022. The proposed Initial Public Offering (IPO) [...]
Axis Bank Q3 Results: Standalone Net profit rises 62% to Rs 5,853 cr
Private sector lender Axis Bank on Monday reported a 62 per cent surge in profit at Rs 5,853 crore for the quarter ended December 2022, driven by increase in net interest income and decline in bad loans. Its net profit on standalone basis stood at Rs 3,614 crore in the same quarter of the preceding [...]
Multibagger penny stock of ₹ 2.28 hits upper circuit; Delivers 347% returns in 50 days
Penny stocks are known to deliver high returns in a shorter time period as these stocks tend to hit circuits more often. Penny stocks have a market capitalization of less than Rs 200 Crore and have a share price lesser than Rs 100. These companies tend to have zero or negative sales and profits and [...]
Arvind SmartSpaces Q3 Results: Consolidated net profit drops 28% to Rs 4.24 cr YoY
Realty firm Arvind SmartSpaces Ltd on Monday reported a 28 per cent decline in its consolidated net profit at Rs 4.24 crore for the quarter ended December. Its net profit stood at Rs 5.91 crore in the year-ago period, the Ahmedabad-based firm said in a regulatory filing. Total income grew to Rs 55.22 crore in [...]
Investment in capital mkts through P-notes drops to Rs 96,292-cr in Dec 2022 on profit booking
Investment in the Indian capital markets through participatory notes slightly dropped to Rs 96,292 crore at the end of December 2022 from the preceding month on higher valuation of domestic markets. Before the decline, the investment through the route had been on an increasing trend since July because of a slump in prices of oil [...]
5 Stocks that will trade Ex-Dividend this week; Are you holding any?
The Indian equity indices after staying in the positive territory throughout the day ended Monday’s session in the green at the same level. The NSE Nifty 50 rose 90.90 pts or 0.50% to 18,118.55 and the 30-share BSE Sensex advanced 319.90 pts or 0.53% at 60,941.67. For investors looking for a passive source of income, [...]
Coal India arm MCL to set up Rs 12,000-crore power plant in Odisha
Coal India arm MCL is in the process of diversifying into power generation and will set up a coal-based plant entailing an investment of around Rs 12,000 crore in Odisha, its chairman-cum-managing director O P Singh said. Mahanadi Coalfields Ltd (MCL) also has plans to diversify into aluminium business. "We are into process of diversifying [...]
Tata Motors, ICICI Bank tie up to offer financing solutions to its passenger EV dealers
Tata Motors on Monday said it has partnered with ICICI Bank to offer financing solutions to its authorised passenger electric vehicle dealers. Under the partnership, ICICI Bank will provide inventory funding to the authorised passenger EV dealers in addition to the bank's funding to dealers for diesel and petrol models, Tata Motors said in a [...]
Sensex, Nifty advance on gains in IT, financial shares, global cues
Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 per cent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It touched [...]
PM Gati Shakti initiative to help reduce logistic obstacles, increase efficiency: DPIIT Secy
The PM GatiShakti initiative will play a significant role in reducing the logistics cost, increasing efficiency and benefitting businesses, a top government official said on Monday. On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti- National Master Plan aimed at developing an integrated infrastructure to reduce logistic costs. All logistics and [...]
IDBI Bank Q3 Results: Net profit jumps 60% to Rs 972 cr
State-owned IDBI Bank on Monday reported a 60 per cent growth in net profit to Rs 927 crore in the third quarter ended on December 31, 2022, on lower provisioning and better interest income. IDBI Bank, for which the government and the LIC have invited bids to sell a majority stake, had a net profit [...]
2 Stocks set record date for their upcoming dividends; Check the details
Dividends are attractive for investors who are looking to generate income. They see dividends as a sign that a company’s management has positive expectations for its future earnings. Here are two companies that have recently declared dividends: Wendt (India) Limited The Murugappa group company in its board meeting dated January 18, 2023, declared an interim [...]
4 Stocks in which Mukul Agrawal has bought more than 1% stake; Do you own any?
Many investors closely follow the changes in the portfolio of ace investors. Mukul Agrawal, a well-known Indian ace investor publicly owns 56 stocks with a net worth of over ₹ 2,896.4 Cr. A few companies are yet to report their shareholding pattern, therefore, information about the shareholding holding pattern of these companies is not yet [...]
Apple looks to scale up manufacturing in India: Goyal
iPhone-maker Apple is looking to scale up its manufacturing in India as the business environment is helping global firms make the country their base, Commerce and Industry Minister Piyush Goyal said on Monday. He said that India offers a rule of law, and transparent government policies and business models which help it become a preferred [...]
Yes bank declines by more than 8%; What should investors do?
The shares of Yes Bank Limited fell by more than 8 percent on Monday and were trading at Rs 18.25 levels till the afternoon. The scrip fell after it announced two major setbacks. The first is the sharp decline in its quarterly profits. Yes bank saw a 79 percent dip in its consolidated December quarter [...]
Multibagger stock hits upper circuit after reporting 264% jump in net profit; Also declares stock split of 5:1
The shares of Servotech Power Systems Limited hit an upper circuit of 5 percent at Rs 191.45 in the early hours of Monday. The scrip gained after the company reported robust Q3 results. In Q3FY23, Servotech reported a total revenue of Rs 83.27 crore which is a jump of more than 101 percent from R [...]
Sterlite Power bags orders worth Rs 3,800 cr in Apr-Dec
Sterlite Power on Monday said it has bagged orders worth Rs 3,800 crore in the first three quarters of this fiscal, which is 90 per cent higher than a year ago. The orders were bagged by the ‘solutions’ business unit in the domestic and international markets during the first three quarters FY23, showing a growth [...]
Canara Bank Q3 Results: Net profit surges 92% to Rs 2,882 crore YoY
Canara Bank on Monday reported 92 per cent jump in profit at Rs 2,882 crore for the quarter ended December 2022, helped by a rise in interest income and decline in bad loans. Its net profit stood at Rs 1,502 crore in the same quarter of the preceding financial year. Total income increased to Rs [...]
Top Stock Picks; 6 Stocks to BUY now for an upside of more than 40%
The Indian equity indices opened in green on Monday with BSE Sensex rising 250 points or 0.41% to 60,871.44 and the NSE Nifty 50 climbing 78.30 points or 0.43% to 18,105.95. As the markets trade in the green, here are 6 stocks recommended by analysts for an upside of up to 43%: PVR Ltd ICICI [...]
Thousands of Indian IT professionals now jobless scrambling for options to stay in the US
Thousands of Indian IT professionals in the US, who have lost their jobs due to the series of recent layoffs at companies like Google, Microsoft and Amazon, are now struggling to find new employment within the stipulated period under their work visas following the termination of their employment to stay in the country. According to [...]
Housing sales in Gurugram jump over 2-fold in 2022 to 32,617 units; Noida-Gr Noida see around 15% rise in sales
Sales of residential properties in Gurugram jumped over two-fold to 32,617 units last year on higher demand across all price categories — affordable, mid-income and luxury, according to Anarock. Housing sales stood at 15,590 units in Gurugram during 2021 calendar year. Overall, the housing sales in Delhi-NCR rose 59 per cent to 63,712 units in [...]
Sebi launches information database on municipal bonds
Markets regulator Sebi has launched an information database on municipal bonds. As part of efforts to develop the bond markets, an outreach programme on municipal bonds and municipal finance was organised by Sebi in the national capital on January 20 and 21, according to a release on Sunday. Representatives from various stakeholders, including the Ministry [...]
Textile entrepreneurs hope for better stability with reduction in freight charges, cotton prices
Textile entrepreneurs have discussed key issues to bring in stability in the sector eyeing a reduction in cotton prices and freight charges, an industry official has said. Participating in an interactive session here, around 120 managing directors of spinning mills discussed various issues including cotton prices and freight rates, according to Indian Texpreneurs Federation, the [...]
Deve Gowda urges PM to instruct Steel Ministry to drop VISL closure proposal
Former Prime Minister H D Deve Gowda has written to Prime Minister Narendra Modi requesting him to instruct the Ministry of Steel and the Steel Authority of India Limited (SAIL) authorities to drop the proposal for closure of Visvesvaraya Iron and Steel Limited (VISL) at Bhadravati. The JD(S) supremo also has urged the Prime Minister [...]
Puri hopes for cut in petrol prices no sooner oil cos recoup past losses
Oil Minister Hardeep Singh Puri on Sunday hoped petrol prices will be reduced no sooner state-owned oil companies recoup past losses. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have for the past 15 months not revised petrol and diesel prices in line with the cost. The [...]
HPCL’s Vizag oil refinery to expand by June : Chairman
Hindustan Petroleum Corporation Ltd (HPCL) will complete expansion of its Vizag oil refinery in Andhra Pradesh to 15 million tonne per annum by June, its Chairman Pushp Joshi said on Sunday. HPCL is expanding the 8.33 million tonne per annum (MTPA) refinery and building a new one at Barmer in Rajasthan to bridge the gap [...]
Debt per Indian increased by 2.53 times in 9 years of Modi govt: Cong
The Congress alleged on Sunday that debt, unemployment and inequality have risen in the country under the Narendra Modi government and the debt on every Indian has increased by 2.53 times in the last nine years. Congress spokesperson Gourav Vallabh said the astronomical increase in the government's debt due to "Modinomics" has crushed the common [...]
Bandhan-led consortium’s IDFC MF acquisition to conclude this month
The acquisition of IDFC Asset Management Company by the Bandhan Financial Holdings-led consortium is likely to be concluded this month with the payment of Rs 4,500 crore, an official said on Sunday. Re-branding of the company and mutual fund as Bandhan Asset Management Company Ltd and Bandhan Mutual Fund is also expected within January, he [...]
Pak imported USD 1.2 bn worth of cars in just six months despite economic crisis: report
Pakistan spent USD 1.2 billion (Rs 259 billion) on the import of transportation items, including luxury cars, high-end electric vehicles, and their parts, during the last six months amidst sinking reserves and fear of default, according to a media report. The country is in the middle of a financial crunch with the foreign exchange reserves [...]
Sensex spurts over 400 points to trade at 61K level; Nifty rises 118 points
Equity benchmark BSE Sensex rose by 412 points to trade above the 61,000 level while NSE Nifty advanced 118 points in morning trade on Monday on the back of gains in IT, banking and FMCG shares after positive quarterly earnings. The 30-share BSE barometer spurted by 412.73 points or 0.68 per cent to 61,034.50 as 25 of [...]
4 Fundamentally Strong Stocks under ₹ 1000 to BUY now for huge upside potential
Benchmark indices ended in the red on Friday amid global recession worries stoked by weak US consumer data dampened investor sentiments. The BSE Sensex index ended 237 points or 0.39% lower at 60,662, while Nifty50 fell 80 points or 0.44% to settle at 18,027. While the markets are turbulent, here are four fundamentally strong stocks [...]
₹ 13 to ₹ 2107: Multibagger stock delivers 15,091% returns and turns ₹1 lakh to ₹ 1.51 Crores
When deciding whether to invest or not in a company, many investors look for businesses that will last a long time and not those businesses that are doing well currently. They intend to remain invested in stocks for more than ten years and let their money compound. Fundamentally strong companies help investors to make fortunes, [...]
Lithoz GmbH ties up with Wendt (India)
Ceramic materials and 3D printer-maker Lithoz GmbH has signed a sales partnership agreement with Murugappa Group company Wendt (India) Ltd for strengthening its operations in the country, the company said on Saturday. The agreement would enable the two companies further expand and develop their businesses. "With Lithoz's bases in Austria, the USA and China, this [...]
Kotak Bank Q3 Results: Net profit rises 31% at Rs 2,792 crore YoY
Robust margins, which rose to a multi-year high of 5.47 per cent, and improved asset quality helped Kotak Mahindra Bank book a 31 per cent growth in net income at Rs 2,792 crore in the December 2022 quarter. The management sees further uptick on the margins front in the fourth quarter as more loans get [...]
Yes Bank Q3 Results: Consolidated net profit falls 79% YoY on provision hit; will appeal AT-1 ruling in SC
Yes Bank reported a 79 per cent dip in its consolidated December quarter net at Rs 55.07 crore on Saturday as provisions on legacy bad assets made it set aside higher amounts as provisions. The private sector lender also announced that it will appeal against the Bombay High Court's order in the Rs 8,400-crore AT-1 [...]
UltraTech Cement Q3 Results: Consolidated net profit falls 37.9% to Rs 1,062.6 cr, revenue up 19.5% YoY
Aditya Birla group firm UltraTech Cement on Saturday reported a 37.9 per cent decline in its consolidated net profit to Rs 1,062.58 crore for the third quarter of FY2022-23. The company had posted a net profit of Rs 1,710.14 crore in the October-December period a year ago, UltraTech Cement said in a BSE filing. However, [...]
IDFC First Bank Q3 Results: Net profit doubles to Rs 605 cr YoY
IDFC First Bank on Saturday reported a two-fold jump in its net profit to Rs 605 crore for the quarter ending December 2022, driven by growth in operating income. The private sector bank had reported a profit of Rs 281 crore for the October-December period of 2021-22. The bank's total income increased to Rs 7,064.30 [...]
Punjab & Sind Bank Q3 Results: Profit up 24% to Rs 373 crore YoY
State-owned Punjab & Sind Bank on Saturday reported a 24 per cent jump in profit at Rs 373 crore for the quarter ended December 2022, aided by healthy growth in interest income and decline in bad loans. The bank had posted a net profit of Rs 301 crore in the same quarter a year ago. [...]
SBI Life Insurance Q3 Results: Net profit falls over 16% to Rs 304 crore YoY
Private sector SBI Life Insurance on Saturday reported more than 16 per cent decline in net profit at Rs 304 crore in the third quarter ended December 2022. The insurer's profit stood at Rs 364 crore in the same quarter of the previous fiscal, SBI Life said in a regulatory filing. Total income increased to [...]
Inflow in gold ETFs drops 90% in 2022; asset base, investors account grow
Inflow in gold exchange traded funds (ETFs) plunged by 90 per cent to Rs 459 crore in 2022 due to rising prices of yellow metal, increasing interest rate structure coupled with inflationary pressures. This was way lower than an inflow of Rs 4,814 crore seen in the segment during 2021 and Rs 6,657 crore in [...]
ICICI Bank Q3 Results: Consolidated net profit jumps 34% to Rs 8,792 crore on core income growth
ICICI Bank on Saturday reported a 34.5 per cent jump in its net profit at Rs 8,792 crore in December 2022 quarter on a consolidated basis, helped by an overall healthy performance. The second largest private sector lender's profit after tax grew 34.2 per cent to Rs 8,312 crore in the quarter, despite additional hit [...]
Four of top-10 firms add Rs 82,481 cr in mcap; HDFC Bank, Adani Total shine
Four of the 10 most valued firms together added Rs 82,480.67 crore in market valuation last week, with HDFC Bank and Adani Total Gas emerging as the top gainers. While Infosys and HDFC were the other gainers, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, State Bank of India and Life Insurance Corporation [...]
Adani Group to spin off hydrogen, airports, data centre businesses by 2028: CFO
Billionaire Gautam Adani's group plans to spin off businesses like hydrogen, airports and data centre between 2025 and 2028 after they achieve a certain investment profile, it's Chief Financial Officer Jugeshinder Singh said. Adani Enterprises Ltd, which is looking to raise Rs 20,000 crore in a follow-on share sale, is the business incubator for the [...]
Q3 earnings, global trends to guide market this week; equities may face volatility amid F&O expiry: Analysts
Trading in the equity market in the holiday-shortened week ahead will be largely guided by the ongoing quarterly earnings, global trends and foreign fund movement, analysts said. Dalal Street also may face volatility amid monthly derivatives expiry, they added. "This week will be a shortened week because the market will be closed on Thursday in [...]
Weekly Recap: Adani FPO to open soon, Siemens signs ₹ 26000 cr contract with railways, Q3 results and More!
Helped by a firm global market trend and buying in IT counters, domestic benchmark indices opened on a positive note on Monday, even as higher oil prices and continued foreign investor selling kept a lid on gains. The 30-share BSE Sensex climbed 325.59 points to 60,586.77 in early trade, while the broader NSE Nifty advanced [...]
5 Bluechip stocks in which Mutual funds have increased their stake; Are you holding any?
Investors keep a track of buying and selling by Foreign Institutional Investors (FIIs), mutual funds, other Domestic Institutional Investors (DIIs) and ace investors to guide their investment decisions. It is important to analyse the stocks in their top picks and then make investment decisions. According to a recent report published by Business Standard, domestic mutual [...]
RBL Bank Q3 Results: Net profit rises 34% to Rs 209 cr
RBL Bank on Friday reported a 34 per cent growth in its December quarter net profit at Rs 209 crore. The private sector bank had posted a profit of Rs 156 crore in the October-December quarter of FY2021-22. As per a regulatory filing, RBL Bank's total revenue grew 11 per cent year-on-year to Rs 1,767 [...]
LTIMindtree Q3 Results: Consolidated net profit dips 4.6% YoY
IT company LTIMindtree on Friday posted a consolidated net profit of Rs 1,000.7 crore for the December quarter, a 4.6 per cent decline over the year-ago period due to one-off impact of merger-related integration cost. In November last year, L&T Group had announced operationalisation of the merger of Mindtree with LTI (Larsen & Toubro Infotech), [...]
Ramkrishna Forgings Q3 Results: Consolidated net profit grows 35%
Ramkrishna Forgings on Friday posted a 35 per cent rise in its December quarter consolidated net profit to Rs 61.04 crore, mainly on account of higher revenues. The firm had clocked a net profit of Rs 45.35 crore in the year-ago period, it said in a regulatory filing. The company's revenue from operations rose 30 [...]
DCM Shriram Q3 Results: Consolidated net profit down 2%; total income up 21%
DCM Shriram Ltd, which is into chemicals, sugar, bioseed and fertiliser businesses, on Friday reported a marginal decline in its December quarter consolidated net profit to Rs 342.09 crore. Its net profit stood at Rs 349.57 crore in the year-ago period. Total income rose 21 per cent to Rs 3,417.06 crore during October-December quarter of [...]
Indian Renewable Energy Development Agency eyes 18% rise in revenues in FY23
State-owned Indian Renewable Energy Development Agency (IREDA) is targetting an 18 per cent rise in revenue from operations to Rs 3,361 crore this fiscal. IREDA has signed a memorandum of understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) for the annual performance target for 2022-23, the Ministry of New and Renewable Energy [...]
HR industry expects roll out of labour codes, focus on formal job creation in Budget 2023
The Human Resource industry anticipates various measures from the upcoming Budget 2023, that will be beneficial for employees, the employment process, for job development and will address the skill-gap challenge in the country. The Indian economy is on the road to recovery after the Covid-19 pandemic significantly affected the country's economic growth. Industry players are [...]
Sensex, Nifty fall for 2nd day on global economic slowdown concerns
Benchmark Sensex and Nifty closed lower for the second day in a row on Friday due to a decline in index major Reliance Industries, Hindustan Unilever, and Infosys amid concerns over global economic slowdown. The 30-share BSE Sensex declined 236.66 points or 0.39 per cent to settle at 60,621.77 with 20 of its constituents ending [...]
Bandhan Bank Q3: Profit plummets 64% to Rs 291 crore
Private sector Bandhan Bank on Friday reported a 64 per cent fall in its December quarter net profit at Rs 290.56 crore owing to decline in net interest income and rise in provisions for bad loans. The Kolkata-based new generation bank had posted a net profit of Rs 858.97 crore in the year-ago period. However, [...]
Midcap IT stock gets a BUY call with a target price of ₹ 8,300; Check the details
Persistent Systems ltd has recently reported its October to December results and has also approved the issue of an interim dividend. The is a mid-cap company is engaged in the business of software products, services, and technology innovation. This week, the share has given a return of 7.51% to its investors. On Friday, the stock [...]
Reliance Jio Q3: Net profit rise 28.3% to Rs 4,638 crore
Reliance Jio, the nation's largest telecom firm, on Friday reported a 28.3 per cent rise in its third-quarter net profit to Rs 4,638 crore. The firm had a net profit of Rs 3,615 crore in October-December 2021, according to a company's stock exchange filing. Revenue rose to Rs 22,993 crore in October-December 2022 from Rs [...]
Finmin ask banks to increase credit penetration in 112 aspirational districts
The Finance Ministry on Friday asked banks to further increase credit penetration in aspirational districts and ensure availability of at least one banking outlet within 5 km of all inhabited villages. Progress of 112 Aspirational Districts under Targeted Financial Inclusion Intervention Programme (TFIIP) was discussed in detail during a review meeting of Lead District Managers [...]
Google axes 12,000 jobs; CEO Pichai says ‘sorry’
Google will lay off 12,000 jobs across the globe, its CEO Sundar Pichai announced on Friday, becoming the latest tech giant to retrench staff en mass amid the global economic downturn. In an email to employees, the Indian-origin CEO said:"I have some difficult news to share. We’ve decided to reduce our workforce by approximately 12,000 [...]
Forex reserves zoom by USD 10.417 bn to USD 572 bn
India's forex reserves zoomed by USD 10.417 billion to USD 572 billion as on January 13, making it one of the biggest weekly jumps in the kitty in recent times. In the previous reporting week, the overall reserves had dropped by USD 1.268 billion to USD 561.583 billion. In October 2021, the country's forex kitty [...]
HDFC Life Q3: Profit rises by 15% to Rs 315 crore
HDFC Life on Friday reported a 15 per cent increase in net profit to Rs 315 crore for the third quarter ended December. The private sector insurer's profit stood at Rs 274 crore in the year-ago period, it said in a regulatory filing. Total income increased to Rs 19,693 crore in the latest December quarter [...]
Shakti Pumps (India) Q3: Net profit falls 23% to Rs 11.25 crore
Shakti Pumps (India) Ltd on Friday said its December quarter net profit fell by 23 per cent to Rs 11.25 crore on account of increased expenses. The firm had clocked a net profit of Rs 14.78 crore in the year-ago period, it said in a regulatory filing. However, the company's total revenue from operations rose [...]
Product promotions: Govt makes it mandatory for social media influencers to disclose material interest
The government on Friday made it mandatory for social media influencers to disclose their "material" interest in endorsing products and services and violations can attract strict legal action, including ban on endorsements. The regulations are part of continuing efforts to curb misleading advertisements as well protect the interests of consumers amid the expanding social influencer [...]
Fragmentation can cost 7% of global GDP; be pragmatic and collaborate: IMF chief
Asking the world to be pragmatic and collaborate, IMF chief Kristalina Georgieva on Friday said fragmentation can cost up to 7 per cent of the global GDP. "If we don't unite now, we'll face significant risk to the economy and people's wellbeing," she said during a session on global economy on the last day of [...]
Govt to introduce incentive scheme to boost R&D by pharma industry: DCGI Somani
The Centre is all set to introduce a research linked incentive programme shaped on the lines of the production linked incentive (PLI) scheme to boost research and development of biotech products in the country, said Drugs Controller General of India Dr V G Somani on Friday. PLI scheme aims to give companies incentives on incremental [...]
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