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Stock under ₹20 jumps 15% after company approves set up of new forging plant in Coimbatore
This stock under Rs.20 which deals in the manufacturing of forged hot, warm and cold, and machined components was up 15 percent after the company approved to set up a new forging plant to increase capacity. Price Action With a market capitalization of Rs.313.24 Crores, the shares of LGB Forge Limited were up by 15 [...]
Pharma stock in which Nippon India Fund acquired 5.4% stake to keep on your radar
In Tuesday’s trading session, the shares of one of the leading Healthcare companies in India almost fell by 3.5 percent day's trade despite the acquisition of a 5.4% stake from the Nippon India mutual fund. Price action With a market capitalization of 2,109.53 Crores on Tuesday, the shares of Suraksha Diagnostic Ltd fell by 3.5 [...]
PSU stock jumps after board approves 1:1 bonus issue; Are you holding it?
The shares of the clean energy solution provider gained up to 2 percent after the company’s board considered and approved for bonus issue in the ratio of 1:1. With a market capitalization of Rs 27,051.53 crore, the shares of Indraprastha Gas Ltd were trading at Rs 386.65 per share, increasing around 0.26 percent as compared [...]
FMCG Stock jumps 7% after receiving order from Govt of Tamil Nadu for supply of eggs to ICDS
The Indian government is actively addressing malnutrition and protein deficiency through initiatives like the Poshan Abhiyaan and the National Nutrition Mission, aiming to improve nutritional standards and promote healthy eating habits. The government is focusing on increasing access to protein-rich foods, particularly in rural and underserved areas. This presents significant growth opportunities for FMCG companies [...]
Solar stocks to benefit after Govt proposes anti dumping duty on solar product imports
The solar industry in India is a cornerstone of the country’s renewable energy transition, with ambitious targets to achieve 280 GW of installed solar capacity by 2030. Rising energy demand, supportive government policies like the National Solar Mission, and falling costs of solar technology have propelled growth. India’s strategic geographic location with abundant sunlight makes [...]
Pharma stock hits 5% upper circuit after announcing setup of R&D center in Punjab
In Tuesday’s trading session, the shares of one of the leading Pharmaceuticals companies in India hits 5 percent upper circuit in the day's trade after acquisition of land for setting up of a new state-of-the-art Research and Development (R&D) Centre Price action With the market capitalization of 711.88 Crores on Tuesday, the shares of Ind-Swift [...]
Solar stock jumps 8% after receiving order for 20 MW solar modules from Zodiac Energy
The shares of the leading PV module manufacturer gained up to 8 percent after the company bagged a prestigious work order for Solar PV Modules. With a market capitalization of Rs 1,720.73 crore, the shares of Solex Energy Ltd were trading at Rs 1,592.90 per share, increasing around 6 percent as compared to the previous [...]
Green energy stock hits 10% upper circuit after JV with Josts Engineering
This Microcap stock which operates in the Engineering, Procurement, and Construction business hit a 10 percent upper circuit after the company's JV agreement with Josts Engineering for EPC and Renewable business. Price Action With a market capitalization of Rs. 361.30 Crores, the shares of Kay Cee Energy & Infra Limited were up by 10 percent [...]
Power stock jumps 3% after receiving work order worth ₹400 Cr from Sterlite Power
The shares of the leading player in power transmission company gained up to 3 percent after the company bagged a prestigious order from Sterlite Power for Rs 400 crore. With a market capitalization of Rs 50,005.89 crore, the shares of GE Vernova T&D India Ltd were trading at Rs 1,953.00 per share, increasing around 0.68 [...]
5 Textile stocks in focus after international fashion brands likely to divert their orders to India
According to PIB, India's textile sector is a vital component of its economy, contributing about 2.3% to GDP and employing 45 million people directly. The market is projected to grow from $240.8 billion in 2024 to $475.7 billion by 2033, driven by robust domestic demand and exports. Today, the Bangladesh Garment Group, or Beximco Group, [...]
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More than Rs 5 lakh cr recovery made by banks from stressed loans: PM Modi on steps taken to recover unpaid loans. PTI JD ANZ ANS ANS
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We have addressed NPAs of banks, recapitalised banks, brought bankruptcy laws, strengthened debt recovery tribunal: PM Modi. PTI JD ANZ ANS ANS
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Reforms in last 6-7 yrs has led to banking sector in a strong position today; financial health of banks has improved: PM Modi. PTI JD ANZ ANS ANS
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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
Toyota Kirloskar sales jump 14 fold to 10,216 units in May
Toyota Kirloskar Motor (TKM) on Wednesday reported an over 14-fold increase in total vehicle sales to 10,216 units in May, as compared to the same month last year. The company had dispatched just 707 units to dealerships in May last year amid the second wave of the COVID-19 pandemic. "Demand continues to peak as we [...]
Here’s why this Adani group multibagger stock fell 34.64% in a month
The shares of Adani Green Energy plunged 12.21% on Tuesday’s intraday trade, wiping off $10.6 billion in market cap. They reached a low of ₹1833.10 and a high of ₹2140.00 during the day. The shares changed 1,48,97,503 hands before they closed at ₹1888.95 apiece. The shares are currently trading at ₹1861.80 levels. In the past [...]
Bajaj Auto reports marginal rise in total vehicle sales at 2,75,868 units in May
Bajaj Auto on Wednesday reported a marginal growth in its total vehicle sales at 2,75,868 units in May, as against 2,71,862 vehicles sold in the year-ago period. Total domestic sales, including commercial vehicles, surged 85 per cent to 1,12,308 units, as against 60,830 vehicles sold in May 2021, while exports declined 22 per cent to [...]
eMudhra shares debut with nearly 6% premium
Shares of digital signature certificate provider eMudhra Ltd on Wednesday listed with a premium of nearly 6 per cent against the issue price of Rs 256. The stock made its debut at Rs 271, registering a gain of 5.85 per cent over the issue price on the BSE. It later jumped 8.98 per cent to [...]
Why Did The Government Call Off Its Plan To Divest In BPCL?
The Department of Investment and Public Asset Management (DIPAM) said that the government has called off the present expression of interest (EoI) process for strategic disinvestment of state-run refiner BPCL following multiple waves of COVID-19 and the geopolitical crisis between Russia and Ukraine that affected the oil and gas industry amongst others. This happened after [...]
MG Motor retail sales surge two fold to 4,008 units in May
MG Motor India on Wednesday reported a two-fold increase in its retail sales at 4,008 units in May. The company had sold 1,016 units in the same month last year, MG Motor India said in a statement. The automaker had sold 2,008 units in April, 2022. This growth demonstrates improvement in chip availability, and the [...]
Coffee Day Global Q4 Results: Net Profit at Rs 65.40 cr
Coffee Day Global Ltd, which owns and operates popular coffee chain CCD, has posted a net profit of Rs 65.40 crore for the fourth quarter ended on March 31, 2022. It had posted a net loss of Rs 94.81 crore in the January-March quarter in FY21 and a net loss of Rs 94.81 in the [...]
Mandatory 6 airbags to hit small car market adversely; Maruti wants govt to reconsider proposal
Maruti Suzuki India (MSI) wants the government to reconsider the proposal to make six airbags mandatory in passenger vehicles, saying the norm will adversely hit the already shrinking small car market and may even impact jobs in the auto sector going ahead. The auto major noted that the regulation would largely impact the cost-sensitive entry-level [...]
IKEA to launch first Bengaluru store on June 22
IKEA India (part of the Ingka Group), Swedish home furnishings retailer, said on Tuesday it will launch its first store in the city, on June 22. The large-format store will be connected to the Nagasandra metro station, it said in a statement. IKEA India also announced Anje Heim as the Market Manager for the Karnataka [...]
Nifty Smallcap 100 stock touches a fresh 52 week high and surpasses the target
The shares of a Nifty Small Cap 100 stock, Fine Organic Industries Limited reached a fresh 52-week high of ₹4798.00 on Tuesday’s early trades. The shares closed at ₹4507.70 on Monday after logging an increase of 10%. They are currently trading at 4771.00 levels, up 5.84%. Fine Organic Industries is a company in the speciality [...]
Sun Pharma shares tumble over 4% post Q4 earnings
Shares of Sun Pharmaceutical Industries fell by over 4 per cent in morning trade on Tuesday a day after the company said its consolidated net loss stood at Rs 2,277 crore for the fourth quarter ended March 2022, mainly on account of a one-time exceptional loss. The company's stock declined 4.12 per cent to Rs [...]
Dish TV Q4 Results: Consolidated net loss at Rs 2,032 cr, revenue down 14.5%
Direct-to-home firm Dish TV India Ltd on Monday reported widening of its consolidated net loss to Rs 2,031.99 crore for the fourth quarter ended in March 2022 on account of exceptional items which include impairment charges. The company had reported a net loss of Rs 1,415.23 crore in the January-March quarter a year ago, Dish [...]
Radico Khaitan Q4 Results: Consolidated net profit down 31.8%, Sales up 9.43%
Liquor maker Radico Khaitan Ltd on Monday reported a 31.79 per cent decline in its consolidated net profit to Rs 50.15 crore for the fourth quarter ended March 2022 on account of continued commodity inflation. The company had posted a consolidated net profit of Rs 73.53 crore in the January-March quarter a year ago, Radico [...]
Goldman Sachs buys stake in this newly listed company!
Goldman Sachs India Equity Portfolio acquired 41,32,211 equity shares in Paradeep Phosphates Limited via open market transactions at an average price of ₹45.95 per share. This amounts to an investment of 18.98 crores. As per a circular uploaded on BSE’s website, Goldman Sachs was among the anchor investors who invested in the shares of the [...]
Natco Pharma reports Q4 Results: Consolidated net loss at Rs 50.5 cr
Natco Pharma on Monday reported a consolidated net loss of Rs 50.5 crore in the fourth quarter ended March 2022. The company had posted a consolidated net profit of Rs 53 crore in the same quarter previous fiscal, Natco Pharma said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood [...]
SAIL files complaint with Delhi police over fake links on social networks
State-owned SAIL on Monday said it has filed a complaint with the cyber cell of Delhi police over the circulation of several fake links in the name of steel major on various social media platforms. "It has come to our notice that multiple fake messages and links in the name of SAIL are being circulated [...]
World Bank to disburse USD 700 million to crisis-hit Sri Lanka: Report
The World Bank is planning to disburse USD 700 million to crisis-ridden Sri Lanka by re-purposing its existing loans, a move that will help the island nation grappling with an unprecedented economic crisis much-needed breathing space till a bailout package with the IMF is worked out, media reports said on Monday. Sri Lanka is nearing [...]
Birla Group Multibagger Stock Announces Bonus and Dividend
Xpro India Ltd., a Birla group conglomerate is a polymer processing company that has given multi-bagger returns over the past 2 years. The share has given 3797.73 % from the start of 3rd January 2020 till this date. The share reached its all-time high of ₹1,670 on 25th March 2022. The share closed at the [...]
Mercedes-Benz appoints Vyankatesh Kulkarni as Executive Director, Head of Operations
Luxury carmaker Mercedes-Benz India on Monday said it has appointed Vyankatesh Kulkarni as the Executive Director and Head of Operations, effective June 1, 2022. Kulkarni will be responsible for the production and procurement-related functions, including the company's transformation journey into electrification, digitisation and technology-driven smart manufacturing prowess of the future. "Kulkarni has successfully handled many [...]
Axis MF says cooperating with regulatory authorities in front running case
Axis Asset Management has said that it is cooperating with regulatory authorities amid reports of Sebi carrying out 'search and seizure' at several entities in connection with an ongoing probe in the front-running case at the fund house. "Axis AMC has been conducting a Suo moto investigation since February 2022, with assistance from reputed external [...]
Hero Electric ties up with Cholamandalam to offer retail finance
Hero Electric on Monday said it has joined hands with Cholamandalam Investment and Finance Company to offer retail finance for electric two-wheelers. The partnership will enable the company to cater to newer markets with Chola's widespread presence across the country, the electric two-wheeler maker said in a statement. "The fluctuating market scenario and increased preference [...]
PayMate India files IPO papers with Sebi to raise Rs 1,500 cr
Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO). The initial share-sale comprises fresh issue of equity shares worth Rs 1,125 crore and Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according [...]
Britannia Industries declares dividend of 5650%: Check ex-date details
Biscuit manufacturer Britannia Industries Limited has declared a final dividend of ₹ 56.50 per share on 2nd May 2022. This is about 5650% of its face value of ₹1 per share. The shares will start trading ex-dividend on 20th June 2022. The company posted a 4.26% increase in its net profit from ₹364.32 crores during [...]
L&T bags order for Chennai Metro Rail Project
Infrastructure major Larsen and Toubro (L&T) on Monday said it has received another significant contract order for Chennai Metro Rail Project. According to the company's project classification, the value of a significant order ranges between Rs 1,000 crore to Rs 2,500 crore. "L&T Construction awarded another Significant contract for Chennai Metro Rail Project (CMRL)," L&T [...]
3M India shares jump 13.5% after Q4 results
The shares of 3M India opened at ₹ 19800 apiece with a gap up opening of 13.52% and touched an intraday high of ₹ 20899 in NSE on Monday’s early trades. They are currently trading at ₹ 19330 levels after changing 29510 hands. The company reported a consolidated total income of ₹ 934.81 crores in [...]
Tata Motors, Ford India ink pact with Gujarat govt for Sanand manufacturing plant acquisition
Tata Motors on Monday said its subsidiary and Ford India have inked a pact with the Gujarat government to acquire FIPL's Sanand vehicle manufacturing plant. Tata Passenger Electric Mobility Ltd (TPEML) -- a subsidiary of Tata Motors -- and Ford India Pvt Ltd (FIPL) have today signed a memorandum of understanding (MOU) with the Gujarat [...]
Ethos shares list with 6% discount to issue price
Shares of luxury and premium watch retail player Ethos Ltd on Monday listed with a discount of 6 per cent against the issue price of Rs 878. The stock made its debut at Rs 830, registering a decline of 5.46 per cent from the issue price on the BSE. It further tumbled 9.24 per cent [...]
Shriram Properties posts Rs 64.4 cr profit in Jan-Mar quarter
Realty firm Shriram Properties on Saturday reported a consolidated net profit of Rs 64.4 crore for the quarter ended March. Its net loss stood at Rs 3.15 crore in the year-ago period. Total income rose to Rs 236.5 crore in the fourth quarter of this fiscal year from Rs 157.33 crore in the corresponding period of [...]
Uflex Q4 Results: Consolidated net profit up 32%, revenue rises 50.8%
Packaging materials and solution company Uflex Ltd on Saturday reported a 32.32 per cent growth in its consolidated net profit to Rs 350.59 crore for the fourth quarter ended on March 31, 2022. The company had posted a net profit of Rs 264.95 crore during the January-March quarter a year ago, Uflex said in a [...]
USL to sell 32 popular mass brands to Inbrew Beverages for Rs 820 crore.
Diageo-controlled liquor maker United Spirits Ltd (USL) has announced the sale and franchising of over 30 popular brands to Singapore-based Inbrew Beverages for an estimated consideration of Rs 820 crore. The company has signed a sale and franchise agreement for select popular brands with Inbrew, a joint statement said. "USL and Inbrew have executed definitive [...]
IFB Industries Q4 Results: Consolidated net loss at Rs 28 cr
IFB Industries reported a consolidated net loss of Rs 28.29 crore for fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 7.71 crore for January-March period a year ago, IFB Industries said in a regulatory filing. However, total income was up at Rs 904.86 crore during the quarter under [...]
ITC acquires 10% stake in Blupin Technologies
Diversified entity ITC on Saturday said it has acquired a 10.07 per cent stake in Blupin Technologies Pvt Ltd, the company behind direct-to-consumer (D2C) brand, Mylo. The FMCG major in April had announced the acquisition of a 10.07 per cent stake in Blupin Technologies Pvt Ltd, for up to Rs 39.34 crore. "The Company has [...]
Godfrey Phillips India Q4 Results: Consolidated net profit up 9%, income up 2.84%
Cigarette maker Godfrey Phillips India Ltd on Saturday reported a 9.07 per cent increase in its consolidated net profit to Rs 103.88 crore for the January-March quarter of 2021-22. The company had posted a net profit of Rs 95.24 crore during the January-March quarter of the previous fiscal, Godfrey Phillips India said in a regulatory [...]
Top Stock Picks: 6 Stocks to BUY before the Bull run starts for an upside of up to 80%
Benchmark indices rose today, tracking a global rally driven by a strong retail earnings outlook in the United States and concerns about aggressive rate hikes. Most of the indices were in the positive territory. The Nifty 50 is trading at 16,313.90 levels, up 0.89%, while the Sensex is trading at 54,758.81 levels, up 0.93%. Here [...]
M&M Q4 Results: Standalone profit zooms to Rs 1,192 cr
Mahindra & Mahindra on Saturday reported nearly five-fold jump in standalone profit at Rs 1,192 crore for quarter ended March 31, 2022. The company had posted a profit of Rs 245 crore for the year-ago period, it said in a statement. Revenue grew 28 per cent to Rs 17,124 crore in the period under review [...]
Inox Wind Q4 Results: Consolidated net loss widens to Rs 256 cr
Inox Wind has reported widening of its consolidated net loss to Rs 255.76 crore for the March quarter, mainly due to lower revenues. The consolidated net loss of the company stood at Rs 105.87 crore in the quarter ended March 31, 2021, it said in a BSE filing. Total income in the quarter dropped to [...]
BookMyShow sees rush of users post-Covid wave with highest-ever ticket bookings
Online ticketing and entertainment platform BookMyShow on Friday said that it is witnessing a rush of users with easing of Covid-related curbs as it recorded the highest-ever ticket booking of 2.9 crore on its platform in April this year. The company said that its Transaction Video on-Demand (TVOD) streaming platform also recorded the highest transaction [...]
Adani Defence & Aerospace to buy 50% stake in agri drone startup General Aeronautics
Adani Defence & Aerospace has entered into definitive agreements for acquiring 50 per cent equity stake in agricultural drone startup General Aeronautics for an undisclosed amount. Bengaluru-based General Aeronautics specialises in developing robotic drones to offer tech-enabled crop protection services, crop health monitoring, precision farming and yield monitoring services using artificial intelligence and data analytics. [...]
Nykaa Q4 Results: Consolidated profit declines by 57%
FSN E-Commerce, which operates under the Nykaa brand, on Friday reported a decline of about 57 per cent in its consolidated profit to Rs 7.57 crore for the fourth quarter ended March 2022, mainly account of new investments. The company had registered a profit of Rs 17.9 crore in the same period a year ago. [...]
Ruchi Soya Q4 Results: Standalone net profit declines 25%; Income up 37%
Edible oil major Ruchi Soya Industries Ltd on Friday reported a 25 per cent decline in its standalone net profit to Rs 234.33 crore for the March 2022 quarter, mainly due to higher tax expenses. Its net profit stood at Rs 314.33 crore in the year-ago period. The company's total income rose to Rs 6,676.19 [...]
Godrej Industries Q4 Results: Consolidated net profit at Rs 423 cr
Godrej Industries on Friday reported a consolidated net profit of Rs 422.82 crore for fourth quarter ended March 31, 2022. The company had posted a loss of Rs 92.17 crore for the same quarter of previous fiscal year, Godrej Industries said in a regulatory filing. Revenue from operations during the quarter under review stood at [...]
This is the Best Performing Stock In Nifty 50: Have you invested in it?
The stock of FMCG major ITC Limited has acquired lustre in recent times. The shares climbed to their near 3-year highest levels to ₹ 282.35 apiece on 20th May 2022. In fact, ITC is the best performing stock in the Nifty 50 index with an increase of 21.61% on a year to date basis. The [...]
India Cements Q4 Results: Standalone net loss at Rs 23.71 cr
Cement manufacturer The India Cements Ltd has reported standalone net loss for the quarter ending March 31, 2021 at Rs 23.71 crore due to 'spiraling' increase in the cost of input materials together with the loss of volume, the company said on Friday. The city-based company had registered standalone net profit at Rs 71.63 crore [...]
Sun Pharma acquires Uractiv portfolio from Fiterman Pharma in Romania
Drug major Sun Pharma on Friday said its subsidiary has acquired the Uractiv portfolio from Fiterman Pharma in Romania. The company's unit - SC Terapia SA, Romania - has acquired the Uractiv portfolio, which comprises food supplements, including minerals, vitamins and adjuvants; cosmetics and medical devices used for maintaining urinary tract health. The Mumbai-based drugmaker, [...]
Paradeep Phosphates shares gain nearly 5% on debut
Shares of Paradeep Phosphates on Friday made a tepid market debut with a nearly 5 per cent gain against its issue price of Rs 42. The stock was listed at Rs 43.55, a jump of 3.69 per cent against the issue price, on the BSE. At the NSE, it made its debut at Rs 44, [...]
Future Retail denies Amazons allegation of fraudulent stratagem by independent directors
Future Retail Ltd (FRL) has denied Amazon's allegations that the debt-ridden firm's independent directors facilitated a "fraudulent stratagem" in transferring 835 stores to the Reliance group, saying the e-commerce major has been making "baseless" and "irrelevant" claims. "At the outset, we deny all allegations made in the said media report by Amazon on the Company," [...]
Jet Airways posts Rs 234 crore loss in March quarter
Jet Airways, which remains grounded for over two years, on Thursday reported a standalone net loss of Rs 233.63 crore for the three months ended March. The full service carrier had a standalone net loss of Rs 107.01 crore in the year-ago period, according to a regulatory filing. Total income stood at Rs 11.63 crore [...]
Cummins India profit flat at Rs 189 crore in March quarter
Engine and power equipment maker Cummins India on Thursday reported a marginal growth in its standalone profit after tax at Rs 189.15 crore in the quarter ended March, 2022. The company had posted a standalone PAT (Profit After Tax) at Rs 185.69 crore in the year-ago quarter, Cummins India Limited said. Sales from operations stood [...]
Torrent Pharmaceuticals to acquire four brands from Dr Reddy’s Laboratories
Torrent Pharmaceuticals on Thursday said it has inked a pact to acquire four brands from Dr Reddy's Laboratories. The Ahmedabad-based drug firm has entered into an agreement with Dr Reddy's Laboratories to acquire four of its brands -- Styptovit-E, Finast, Finast-T and Dynapress, Torrent Pharma said in a statement. Financial details were not disclosed. Styptovit-E, a [...]
Kirloskar Industries Q4 Results: Consolidated loss of Rs 44.20 cr
Kirloskar Industries Ltd on Thursday reported a consolidated loss of Rs 44.20 crore for the quarter ended March 31, 2022. The company had reported a profit of Rs 133.73 crore in the year-ago period, Kirloskar Industries Ltd (KIL) said in a statement. Total revenue during the reporting quarter, however, rose 39 per cent to Rs [...]
JB Chemicals and Pharmaceuticals Q4 profit down 16% at Rs 85 cr
Drug firm JB Chemicals and Pharmaceuticals (JBCL) on Thursday said its consolidated profit after tax declined by 16 per cent to Rs 85 crore in the fourth quarter ended March. The company had reported a Profit After Tax (PAT) of Rs 101 crore in the March quarter of 2020-21. Revenues in the fourth quarter increased [...]
RBI to hike repo rate by 50 basis points, lower FY23 growth to 7% in June review: Barclays
The Reserve Bank will opt for a larger, 0.50 per cent, hike in key rates at its next monetary policy review in June to protect medium term economic stability in face of the uncomfortable inflation situation, a British brokerage said on Thursday. The central bank will likely revise its inflation estimate to 6.2-6.5 per cent, [...]
Oberoi Realty Q4 Results: Consolidated net profit falls 19%
Oberoi Realty on Thursday reported a 19 per cent decline in consolidated net profit at Rs 232.65 crore for the March quarter due to higher expenses. Its net profit stood at Rs 286.85 crore in the year-ago period. Total income rose to Rs 842.94 crore for the quarter under review as against Rs 800.87 crore [...]
Union Bank of India gets board approval to raise up to Rs 8,100 cr
State-owned Union Bank of India (UBI) on Thursday said its board of directors has approved raising up to Rs 8,100 crore by issuing equity shares through various modes. The board of directors, in its meeting held on May 26, considered and approved raising of equity capital not exceeding Rs 3,800 crore, within the overall limit [...]
Aether Industries IPO subscribed 6.26 times on final day of offer
The initial public offer of speciality chemicals company Aether Industries was subscribed 6.26 times on the final day of subscription on Thursday, helped by a strong interest from institutional buyers. The initial share sale received bids for 5,85,34,586 shares against 93,56,193 shares on offer, according to the NSE data. The portion meant for qualified institutional [...]
IIL Q4 profit up 3% at Rs 22 cr
Agrochemicals maker Insecticides India Ltd (IIL) on Thursday posted 2.52 per cent increase in consolidated net profit at Rs 22.33 crore for fourth quarter of 2021-22 on higher income. The company had logged a net profit of Rs 21.78 crore in the same quarter of previous fiscal year, according to a regulatory filing. Total income [...]
Piramal Enterprises Q4 Results: Consolidated net profit at Rs 150.53 cr
Piramal Enterprises Ltd on Thursday reported a consolidated net profit of Rs 150.53 crore in the fourth quarter ended March 31, 2022. The company had posted a consolidated net loss of Rs 510.39 crore in the same period previous fiscal, Piramal Enterprises Ltd (PEL) said in a statement. Consolidated revenue from operations during the quarter [...]
SJVN inks pact with Tata Power Solar Systems for 1,000 MW solar project in Bikaner
State-owned SJVN Ltd on Thursday inked a pact with Tata Power Solar Systems to build a 1,000 MW solar project worth Rs 5,500 crore in Bikaner, Rajasthan. "SJVN today entered into an EPC agreement for 1,000 MW solar project in Bikaner, Rajasthan with M/s Tata Power Solar Systems Ltd," a company statement said. The contract [...]
Tata Power Renewable Energy commissions 100 MW solar project in Maharashtra
Tata Power Renewable Energy on Thursday announced the commissioning of a 100 MW solar project for Maharashtra State Electricity Distribution Company Ltd at Partur in Maharashtra. "Tata Power Renewable Energy Ltd (TPREL), one of India's largest renewable energy companies and a wholly-owned subsidiary of Tata Power, has commissioned 100 MW project for Maharashtra State Electricity [...]
Multibagger Food stock hits upper circuit for 34 sessions in a row: Up 370% in 2 Months
The shares of Kohinoor Foods Limited have given multibagger returns of 372.26% in less than two months. The shares were trading at ₹ 7.75 on April 6, 2022, and they are currently locked at ₹36.60 apiece, giving multibagger returns of 372.26% in less than two months. The shares of the company have been hitting the [...]
Berger Paints Q4 Results: Consolidated net profit up 5.6%; revenue up 8%
Berger Paints India Ltd on Thursday reported a 5.60 per cent increase in consolidated net profit to Rs 220.29 crore for the fourth quarter ended March 2022. The company had posted a consolidated net profit of Rs 208.60 crore in the January-March period a year ago, Berger Paints said in a regulatory filing. Revenue from [...]
Goodluck India Q4 Results: Consolidated net profit increases 200%
Steel products maker Goodluck India on Thursday reported three-fold jump in consolidated net profit at Rs 24.30 crore for March quarter 2021-22 boosted by higher income. The company had clocked Rs 8.18 crore net profit in January-March 2020-21, it said in a regulatory filing. Total income also increased to Rs 702.02 crore in the quarter [...]
Lenovo India revenue rises 38% to Rs 17,000 crore in FY22
PC maker Lenovo India has recorded 38 per cent increase in revenue to USD 2.2 billion (about Rs 17,000 crore) in the financial year ended March 2022. The growth was supported by nearly doubling the volume of manufactured PCs and smartphones in India while increasing locally manufactured tablets manifold, the company said on Thursday. "The [...]
Infosys CEO Salil Parekh gets 88% jump in salary to Rs 79.75 crore
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning [...]
Piramal Enterprises not eligible to buy Reliance Nippon Life due to Irdai restriction
Piramal Enterprises is not fit to acquire Reliance Nippon Life Insurance, which is on the block as part of the resolution process of debt-ridden Reliance Capital, due to Irdai restriction. Piramal Enterprises is one of the 54 prospective resolution applicants (PRAs) for Reliance Capital Ltd and its subsidiaries. As per the Insurance Regulatory and Development [...]
Elon Musk’s Tesla share declined by 45% in 2022: Know the reasons
As Tesla Inc continues to struggle in getting its production at the China facility back to normalcy, the company shares took a dive once again on Tuesday. The share had reached a 52-week high of $ 1243.49 on 4th November 2021. The shares have been continuously falling after its quarterly results are currently trading at [...]
Shalimar Paints Q4 Results: Consolidated net loss declines to Rs 13 crore
Shalimar Paints Ltd on Thursday reported narrowing of its consolidated net loss to Rs 12.73 crore for the fourth quarter ended March 31, 2022. The company had posted a loss of Rs 28.56 crore in the January-March period a year ago, Shalimar Paints said in a regulatory filing. Its revenue from operations was down by [...]
Motherson Sumi Wiring Q4 Results: Net profit declines 73%
Auto components maker Motherson Sumi Wiring India Ltd on Thursday reported a 72.72 per cent decline in net profit at Rs 46.42 crore in the fourth quarter ended March 2022, impacted by higher expenses and an exceptional item outgo. The company had posted a net profit of Rs 170.16 crore in the same period previous [...]
Page Industries Q4 Results: Net Profit up 65%, Revenue up 26%
Apparel manufacturer Page Industries Ltd on Thursday reported an increase of 64.86 per cent in net profit at Rs 190.52 crore for the fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 115.56 crore during the January-March period a year ago, Page Industries Ltd (PIL) said in a regulatory [...]
Ashok Leyland partners with ETG Group to strengthen presence in Africa
Hinduja Group flagship Ashok Leyland on Thursday said it has strengthened its operations in southern region of Africa by inking a distribution pact with ETG group's logistics, warehousing and distribution vertical. ETG is a global conglomerate operating across various segments, with a deep focus on uplifting Sub-Saharan Africa. As part of the tie-up, ETG Logistics [...]
HDFC divests 10% stake in HCAL to Abu Dhabi Investment Authority for Rs 184 cr
The country's largest mortgage lender HDFC Ltd on Thursday said it has sold 10 per cent of its stake in HDFC Capital Advisors Ltd (HCAL) to Abu Dhabi Investment Authority for Rs 184 crore. With this, HCAL ceases to be a wholly-owned subsidiary of HDFC. In April, Housing Development Finance Corporation (HDFC) had entered into [...]
Singtel to sell 2-4% stake in Bharti Airtel to Sunil Mittal family
Singapore-based telecom firm Singtel is in talks with Bharti Airtel chairman Sunil Mittal to sell its 2-4 per cent stake in the company, a source aware of the development said on Thursday. As per market capitalisation, Singtel will be able to generate close to Rs 7,500 crore on sale of its 2 per cent stake. [...]
This Is The Worst Performing Stock in Nifty 50: Are you holding it?
The shares of most IT companies like TCS, Infosys and Wipro, tanked this year; but Tech Mahindra is the worst-performing stock on a year-to-date basis. The Indian markets are mostly in the red due to the impacts of the Russia Ukraine War and the fear of a looming lockdown, due to the situation in China. [...]
InterGlobe Enterprises, UPS join hands to launch logistics brand tailored for India
Rahul Bhatia-led InterGlobe Enterprises and Atlanta-based logistics major UPS on Thursday announced a new joint venture to cater to the Indian market. The joint venture -- MOVIN -- will be based out of Gurugram and have representation from both UPS and InterGlobe Enterprises. The entity will offer a range of B2B logistics services in the [...]
Colgate Palmolive India Q4 Results: Net profit rises 3% to Rs 324 crore
FMCG major Colgate-Palmolive India Ltd on Thursday reported a nearly 3 per cent rise in net profit at Rs 323.57 crore for the fourth quarter ended March 2022. It had a posted a net profit of Rs 314.66 crore in the January-March quarter a year ago, Colgate-Palmolive India Ltd (CPIL) said in a BSE filing. [...]
Emiza Supply Chain raises Rs 38 cr in funding round led by JM Financial
Emiza Supply Chain Services has raised Rs 37.5 crore in a funding round led by JM Financial Private Equity. Besides, Mayfield India - an existing investor in Emiza – participated in the series B funding round, JM Financial Private Equity said in a statement on Thursday. Proceeds from the investment will support augmentation of the [...]
Jet Airways staff association challenges airline’s resolution plan before NCLAT
All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline. In October 2020, the airline's Committee of Creditors (CoC) approved the resolution plan submitted by the consortium of the UK's Kalrock Capital and the UAE-based entrepreneur Murari Lal [...]
Divi’s Laboratories Touched A New 52-Week Low: Analysts see an upside of 30%
The Nifty Pharma index tanked 5.20% in the past three days and is currently at 12,553.70 points. Divi’s Laboratories is a major constituent of this index and has a weightage of 12.94% as per April 29, 2022’s data. Despite stellar results in the March quarter, the shares of Divi’s Laboratories slipped by more than 21% [...]
Companies that are about to declare their Q4 Results today – Check the List
Indian markets started Wednesday’s trades with gains but benchmark indices slipped and closed in the red by the closing bell on Wednesday. The thirty share index closed at 53,749.26, down 0.56% and the fifty-share index closed at 16,025.80 points, down 99.35%. IT auto and metal shares dragged the headline indices lower, but gains in the [...]
Fortis Healthcare Q4 Results: Consolidated net profit jumps 40%
Fortis Healthcare Ltd on Wednesday reported a 40 per cent jump in consolidated net profit at Rs 87.03 crore in the fourth quarter ended March 31, 2022. The company had posted a consolidated net profit of Rs 62.36 crore in the same quarter of the previous fiscal, Fortis Healthcare said in a regulatory filing. Consolidated [...]
Balu Forge Industries Q4 Results: Standalone net profit jumps to Rs 11 crore
Balu Forge Industries Limited (BFIL) on Wednesday saw its standalone net profit jump to Rs 10.90 crore for the March quarter, boosted by higher income. The company had reported standalone net profit of Rs 4.78 crore in the year-ago period, the maker of finished and semi-finished forged crankshafts and forged components said in a regulatory [...]
Aether Industries IPO gets 49% subscription on second day of offer
The initial public offer of speciality chemicals company Aether Industries was subscribed 49 per cent on the second day of subscription on Wednesday. The IPO received bids for 45,68,996 shares against 93,56,193 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 67 per cent, Qualified Institutional Buyers (QIBs) [...]
MOIL Q4 Results: Net profit rises to Rs 131 crore
State-owned MOIL on Wednesday posted a rise of 13 per cent in its net profit to Rs 131.07 crore during the March quarter, supported by reduced expenses. The company had clocked Rs 116.03 crore net profit during the January-March quarter of 2020-21, it said in a regulatory filing. During the quarter under review, the company's [...]
Kolte-Patil Developers Q4 Results: Consolidated net profit up 28%
Realty firm Kolte-Patil Developers Ltd on Wednesday reported a 28 per cent increase in consolidated net profit at Rs 26.68 crore for the quarter ended March. Its net profit stood at Rs 20.9 crore in the year-ago period, according to a regulatory filing. Total income rose to Rs 380.99 crore in the fourth quarter of [...]
India Cements, Tvasta ink pact to develop raw material formulation for 3D printing
The India Cements Ltd on Wednesday said it has inked a strategic collaboration with technology start-up Tvasta Manufacturing Solutions, which specialises in construction of buildings using 3D printing application. The collaboration would see India Cements and Tvasta Manufacturing to engage in a dedicated research and development, synergetic exchange of technology-centric efforts to develop new raw [...]
Sugar stocks slide; Dalmia Bharat Sugar plummets over 13%
Sugar stocks fell sharply on Wednesday, a day after the government imposed restrictions on sugar exports from June 1 to increase availability of the commodity in domestic market and curb price rise. Shares of Dalmia Bharat Sugar and Industries plummeted 13.40 per cent, Dwarikesh Sugar tumbled 9.38 per cent, Uttam Sugar Mills plunged 9.30 per [...]
Deepak Fertilisers Q4 Results: Consolidated PAT up 144%
Deepak Fertilisers on Wednesday reported a 144.30 per cent jump in consolidated profit after tax (PAT) at Rs 282.91 crore for the quarter ended March 2022. The company's PAT stood at Rs 115.80 crore during the corresponding quarter of 2020-21, Deepak Fertilisers and Petrochemicals Corporation said in a BSE filing. Revenue from operations during the [...]
Power Finance Corporation Q4 Results: Consolidated net profit rises nearly 10% to Rs 4,295 crore
State-owned Power Finance Corporation (PFC) on Wednesday posted a nearly 10 per cent rise in the consolidated net profit at Rs 4,295.90 crore in the March quarter mainly on the back of higher revenues. The consolidated net profit of the company was at Rs 3,906.05 crore in the year-ago period, a BSE filing showed. Total [...]
ABB E-mobility acquires controlling stake in Numocity
Startup electric vehicle charging solutions provider Numocity on Wednesday said ABB's E-mobility division has acquired a controlling stake in the company for an undisclosed sum. With the acquisition, the current investors Ideaspring Capital and Rebright Pte Ltd will exit the company, Numocity said in a statement. Ideaspring Capital had led an investment in Numocity in [...]
Easy Trip Planners Q4 Results: Consolidated net profit declines 23%
Online travel service provider Easy Trip Planners Ltd on Wednesday reported a 23.4 per cent decline in consolidated net profit at Rs 23.34 crore for the fourth quarter ended March, impacted by lower revenue and higher expenses. The company, which operates under the EaseMyTrip brand, had posted a consolidated net profit of Rs 30.47 crore [...]
Adani Ports Q4 Results: Consolidated net profit falls 22%
Adani Ports and Special Economic Zone Limited (APSEZ) has reported a 21.78 per cent decline in consolidated net profit at Rs 1,033 crore for the fourth quarter ended March 2022. The country's largest integrated logistics player had clocked a consolidated net profit of Rs 1,321 crore in the corresponding period of the previous fiscal, according [...]
BUY this Realty Stock for an upside of 80%: HDFC Securities
HDFC Securities has a buy call on the shares of Sobha Limited with a target price of ₹902. The shares are currently trading at ₹ 500.00 levels. This indicates an upside of 80.4%. Sobha Ltd. reported the highest-ever annual presales of 4.9 million square feet (msf) (+22% YoY), valued at ₹ 38.7bn. Bengaluru accounted for [...]
Almo raises USD 2 mn in funding led by Inflection Point Ventures
Direct-to-consumer men's innerwear brand Almo on Wednesday said it has raised USD 2 million (over Rs 15 crore) in pre-Series A round funding led by Inflection Point Ventures. The funding round also saw the participation of other investors, including LetsVenture and AngelList India, the startup said in a statement. Almo said it intends to bolster [...]
Online tax advisory firm Taxbuddy.com raises USD 2.10 mn in funding led by Zenith Global
Taxbuddy.com, an online tax advisory company started by a former Indian Revenue Service officer Sujit Bangar, on Wednesday said it has raised USD 2.10 million (about Rs 16 crore) in funding led by UAE-based fund Zenith Global. The company, launched in 2019 to offer subscription-based plans of tax advisory using automation technologies, will use the [...]
Info Edge (India) shares plunge to reach a new 52-week low ahead of Q4 results
The shares of Info Edge (India) Ltd plummeted 5.20% to reach a fresh 52-week low of ₹ 3320 apiece on Wednesday’s early trades. They hit their previous 52-week low just two weeks ago on 6th May 2022. The shares changed 4,38,391 hands by 11:55 AM. Info Edge (India) Ltd. is a premier online classifieds company [...]
Sri Lanka PM Ranil Wickremesinghe appointed Finance Minister by Prez Gotabaya
Sri Lanka's Prime Minister Ranil Wickremesinghe was appointed Finance Minister of the debt-ridden country on Wednesday by President Gotabaya Rajapaksa, an official statement said. Wickremesinghe, 73 was sworn in as the Minister of Finance, Economic Stability and National Policies. The five-time prime minister was re-appointed to the job on May 12 following the political circus [...]
World Bank rules out bridge financing to crisis-hit Sri Lanka
The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation’s economy sets up an adequate macroeconomic policy framework, the global lender has said. The statement by the World Bank came on Tuesday following reports that the Washington-based institution was planning to support Sri Lanka to [...]
This Rakesh Jhunjhunwala portfolio stock is One of the worst performers of BSE-500
Indiabulls Real Estate Ltd has been one of the worst-performing stocks in the BSE 500. The share had reached a 52-week high of ₹ 195.90 on 9th October 2021 and a 52-week low of ₹ 68.40 on 11th May 2022. The stock has given a negative return of 56.83% on a year-to-date basis. Rakesh Jhunjhunwala [...]
SpiceJet settles dispute with Credit Suisse
Domestic no-frills carrier SpiceJet said on Wednesday said it has signed and concluded the settlement and consent terms with Credit Suisse in a pending dispute with the latter. The settlement and consent terms, executed on May 23, have also been filed before the Supreme Court for final orders, the airline said in a statement. The [...]
MP: Ministerial group agrees to reduce import duty on beer & wine
A group of ministers (GoM) in the Madhya Pradesh government deliberating on excise matters has given the consent to reduce the import duty on beer and wine in the state, MP Home Minister Narottam Mishra said. The decision was taken in a meeting of the ministerial group headed by Mishra on Tuesday. "Various issues related [...]
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