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Stock jumps after company sets record date for stock split and bonus issue
The Indian stationery and pen market is poised for robust growth, driven by a burgeoning student population, increasing literacy rates, and rising demand from corporate and creative sectors. Valued at over ₹10,000 crores, the sector is witnessing a compound annual growth rate (CAGR) of 8-10%. With the increasing focus on education and the surge in [...]
Zomato: Revenue split of Zomato from each of its business segment
According to the Economic Times, India's e-commerce sector is experiencing remarkable growth, projected to surge from $123 billion in 2024 to $300 billion by 2030. With over 950 million internet users and a growing base of online shoppers expected to reach 500-600 million by 2030, this market is rapidly transforming the retail landscape. With a [...]
Stocks to benefit after Govt likely to offer 35% subsidy for goods transport on inland waterways
The Indian government plans to boost goods transportation via inland waterways, which currently account for only 2 percent of total freight movement. To encourage this shift, the government may offer a 35 percent subsidy for cargo owners over three years on national waterways 1, 2, and 16. This initiative aims to relocate approximately 800 million [...]
Stocks to benefit after Govt. to invest ₹9,000 Cr to support manufacturing of EV batteries in India
The Indian government is considering a Rs. 9,000 crore scheme to boost local manufacturing of battery components for electric vehicles and clean energy systems. This plan follows discussions by the Union heavy industries ministry with industry leaders which aims to reduce reliance on imports and improve domestic production capabilities. The initiative focuses on manufacturing electrodes [...]
Stocks under ₹100 held by Ashish Kacholia, Mukul Agrawal and other ace investor to keep in your radar
Ace investors are renowned individuals who have achieved significant success in the stock market through their investment strategies and portfolios. The decisions and portfolio moves of these ace investors can significantly influence stock prices and market sentiment. Listed below are stocks in which Ace investors have made investments, that you can add to your watchlist [...]
3 Debt Mutual Funds that delivered more than 10% XIRR in 3 years
Investing in debt funds is an excellent way to balance and diversify your investment portfolio, especially for those seeking stability and lower risk compared to equities. Debt funds invest in fixed-income securities like government bonds, corporate bonds, and treasury bills, offering regular income and capital preservation. They are suitable for conservative investors or those looking [...]
Infra stock with strong revenue guidance of ₹5,500 Cr for FY25 to keep in your radar
The Electricity demand in India is expected to grow by 5% per year as per IEA. The growth can be maintained with investments in renewable energy and coal production space. The focus on energy transition and infrastructure development positions India as a key player in the global energy market. This company is entering into the [...]
Kaynes Technology Vs CG Power: Who will dominate the semiconductor industry?
India aims for $500 billion in electronics sector growth by the end of the decade, up from the present $150 billion. Following this, the demand for semiconductors in the country is forecasted to surpass $80 billion by 2026 and $110 billion by 2030. The semiconductor industry is often described as the “brain” of modern-day technology. [...]
Stocks to benefit after Rajya Sabha approves investment to boost oil and gas exploration
The Oilfields (Regulation and Development) Amendment Bill, 2024 was recently passed by the Rajya Sabha and is yet to be passed by Lok Sabha. This bill is aimed at improving the operational landscape for Indian oil companies by delinking petroleum operations from mining. This separation introduces a new 'petroleum lease' concept which streamlines regulations and [...]
Semiconductor stock with capex plan of ₹688 Cr for capacity expansion to add in your watchlist
This Murugappa group company which is foraying into semiconductors, rail systems, and others has capex plans of Rs. 688 crore and announced plans for semiconductors and bought a stake in G.G.Tronics is making inroads to maintain growth and grabbing opportunities that align with government policies. Price Movement CG Power & Industrial Solutions Limited's stock in [...]
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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
Axis AMC terminates chief trader Viresh Joshi over alleged front-running allegations
Axis Asset Management Company, the mutual fund promoted by Axis Bank, has terminated its chief trader and fund manager Viresh Joshi, who was facing allegations of front-running. Front-running refers to an illegal practice in the stock market where an entity trades on the basis of advance information from a broker or analyst before the information [...]
MakeMyTrip ties up with banks, NBFCs, fintech players for ‘book now pay later’ option
Online travel firm MakeMyTrip on Thursday said it has partnered with 15 banks, NBFCs and fintech players, including HDFC Bank, IDFC Bank, Capital float and Zest Money, for its 'book now pay later' option while booking flight or hotels. The company's fintech arm TripMoney has established a marketplace attracting 15 banks, NBFCs and fintech players, [...]
Aether Industries’ Rs 808-cr IPO to open on May 24; price band at Rs 610-642 per share
Speciality chemicals company Aether Industries on Thursday said it has fixed a price band of Rs 610-642 for its Rs 808-crore initial public offering (IPO). The initial share-sale will open for public subscription on May 24 and conclude on May 26. The bidding for anchor investors will open on May 23, the company announced. The [...]
Waaree Energies bags orders worth USD 2.37 bn
Domestic solar PV module manufacturer Waaree Energies on Thursday said it has secured new orders worth USD 2.37 billion from customers in the domestic and international markets. The orders are for supplying high-efficiency bifacial solar panels of 540Wp (watt peak) and 600Wp, Waaree Energies said in a statement. These panels will be produced in Waaree's [...]
Career tech platform Internshala raises Series A funding from LC Nueva Investment Partners & others
The platform will utilise funds to enhance existing products and launch new offerings for college students New Delhi, 19th May 2022: Internshala, a career tech platform for college students, raised an undisclosed amount in the Series A funding round from LC Nueva Investment Partners that raised the investment through their venture capital fund – LC [...]
9 Stocks that are about to pay dividends soon; Do you hold any of them?
The dividend that a company pays is one of the most important factors for stock selection for some people. The ex-dividend date is the date on which the stock that is about to pay a dividend will start trading without the benefit of a dividend. This means that if investors want to receive dividends on [...]
LPG price hiked again by Rs 3.50 per cylinder
Domestic cooking gas LPG price was on Thursday hiked by Rs 3.50 per cylinder, the second increase in rates this month. Non-subsidised LPG now costs Rs 1,003 per 14.2-kg cylinder in the national capital, according to a price notification of state fuel retailers. The hike comes on the back of a Rs 50 per cylinder [...]
IDBI Bank divests entire 19.18% stake in ARCIL
IDBI Bank on Wednesday said it has divested its entire stake of over 19 per cent in ARCIL to Avenue India Resurgence Pte. The lender, however, did not disclose the deal value. "...IDBI Bank has sold its entire holding of 6,23,23,800 fully paid-up equity shares constituting 19.18 per cent of the total equity share capital [...]
Wow Skin Science raises fund from Singapore’s GIC
Wow Skin Science, a beauty and wellness focused brand, on Wednesday said it has received funds from Singapore's sovereign wealth fund GIC. The company did not disclose the amount received but said it wants to invest the fresh capital in brand building and talent acquisition. It will also be looking at acquisition-led growth opportunities, an [...]
Blue Star doubles production capacity of deep freezers
Cooling products maker Blue Star has doubled its production capacity of deep freezers as the company looks to tap the rising demand in the commercial refrigeration business. The company has augmented its manufacturing facility at Wada, Maharashtra with a capital expenditure of around Rs 130 crore. Now, it has the capacity to produce around 2 [...]
IndusInd Bank sells part of pledged shares of Birla Tyres
IndusInd Bank on Wednesday said it has sold over 38 lakh shares of Birla Tyres Ltd in tranches in the last one week on invocation of pledged shares. On May 10, the private sector lender had acquired 1,45,63,787 equity shares equivalent to 10.214 per cent of paid-up equity share capital of Birla Tyres Ltd on [...]
AI, data key differentiators for enterprises: Tata Group Chairman
Artificial intelligence and data are key differentiators for enterprises at present and the change in technology consumption reflects the prevailing trends in the economy, Tata Group chairman N Chandrasekaran said in the TCS annual report released on Wednesday. He said that the past couple of years has been a period of intense action and reflection [...]
Sebi slaps Rs 5 lakh on entity for non-genuine trades
Capital markets regulator Sebi on Wednesday imposed a penalty of Rs 5 lakh on an entity for non-genuine trades in the illiquid stock options on BSE. The fine has been imposed on Rajendra Kumar Bubna HUF. The order came after Sebi observed large scale reversal trades in the illiquid stock options segment on BSE, leading [...]
Former NSE boss Chitra Ramkrishna moves Delhi HC for bail in co-location case
A Delhi High Court judge Wednesday recused himself from hearing the bail plea by former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna in connection with the co-location case being probed by the Central Bureau of Investigation. Justice Talwant Singh directed that the matter be listed for hearing on Friday [...]
JK Lakshmi Cement Q4 Results: Net profit rises 18.3%, revenue up 12.3%
JK Lakshmi Cement on Wednesday reported an 18.36 per cent increase in its consolidated net profit to Rs 188.36 crore for the fourth quarter ended in March 2022, helped by improvement in operational efficiencies and higher volume. The company had posted a profit of Rs 159.13 crore in the January-March period a year ago, JK [...]
IndiGo names Pieter Elbers as new CEO, Dutta to retire on Sept 30
The country's largest domestic budget carrier IndiGo on Wednesday announced the appointment of Pieter Elbers as its Chief Executive Officer, replacing incumbent Ronojoy Dutta. The 71 year-old Dutta, who came to helm the airline in January 2019, has decided to retire on September 30, after guiding the airline through the turbulent Covid period, IndiGo said in [...]
Speciality chemicals company Aether Industries IPO to open on May 24
The initial share sale of speciality chemicals company Aether Industries will open for public subscription on May 24. According to the Red Herring Prospectus (RHP), the three-day Initial Public Offering (IPO) will conclude on May 26. The bidding for anchor investors will open on May 23. The company has cut the size of the fresh [...]
Ruchi Soya stock jumps 10%
Shares of Ruchi Soya Industries Ltd jumped 10 per cent on Wednesday as Patanjali Ayurved decided to sell its food retail business to the firm. The stock zoomed 9.59 per cent to settle at Rs 1,186.85 on the BSE. During the day, it rallied 10 per cent to Rs 1,191.30. On the NSE, it jumped [...]
Brookfield Reit declares Rs 170 cr payout in Q4, Rs 690 cr for FY22
Brookfield India Real Estate Trust (Biret), the only 100 per cent institutionally-managed Reit in the country, on Wednesday announced Rs 170 crore or Rs 5.10 per unit dividend for the March quarter, taking the total cumulative payout to Rs 690 crore or Rs 22.10/unit for the full fiscal 2022. The company said it has generated [...]
McDonald franchisee owner Westlife Development posts net profit of Rs 15.06 cr
Westlife Development Ltd which owns Hardcastle Restaurants, the Master Franchisee of McDonald's restaurants for west and south India, on Wednesday reported a consolidated net profit at Rs 15.06 crore for the fourth quarter ended March 2022. The company had posted a net loss of Rs 6.03 crore in the January-March quarter a year ago, Westlife [...]
Investors bet big on SIP, inflows climb 30% to Rs 1.24 lakh cr in FY22: AMFI
Inflows in the mutual fund industry through systematic investment plans or SIPs reached over Rs 1.24 lakh crore in the financial year 2021-22, a jump of 30 per cent from the preceding fiscal, suggesting growing popularity of the route among retail investors to generate long term wealth. In comparison, an inflow of Rs 96,080 crore [...]
Sun Pharma to launch first-in-class oral lipid-lowering drug in India
Sun Pharma on Wednesday said it is planning to launch a medication to reduce low-density lipoprotein (LDL) cholesterol. The Mumbai-based drug major said one of its wholly-owned subsidiaries plans to launch a first-in-class oral drug, Bempedoic Acid, in India for reducing LDL cholesterol. The company will launch the drug under the brand name Brillo. The [...]
No money to buy petrol, says Lankan govt as it urges citizens not to queue up for fuel
Crisis-hit Sri Lanka on Wednesday revealed that it does not have foreign exchange to pay for a vessel of petrol anchored in its waters for nearly two months as it appealed to citizens "not to wait in line" for fuel. However, the country has received sufficient stocks of diesel, the government said. Since March 28, [...]
EID Parry (India) Ltd Q4 Results: Standalone PAT at Rs 225.12 crore
Sugar manufacturer EID Parry (India) Ltd reported a standalone profit after tax for the quarter ending March 31, 2022 at Rs 225.12 crore, the company said on Wednesday. The standalone profit after tax was at Rs 168.60 crore during the corresponding quarter in the previous year. For the year ending March 31, 2022, standalone profit [...]
Tata Projects appoints Vinayak Pai as CEO, MD designate
Infrastructure firm Tata Projects Ltd on Wednesday announced the appointment of Vinayak Pai as its CEO and managing director designate. Pai has been recently inducted into the company's board as executive director. Before joining Tata Projects, Pai was the group president at Worley, based out of Hague, the Netherlands, the company said in a statement. [...]
FinMin to clarify doubts on applicability of TDS on perks received in biz, profession
The finance ministry will clarify doubts on the applicability of new TDS provision regarding benefits or perquisites received in a business or profession, a senior tax official said on Wednesday. Joint Secretary in the finance ministry Kamlesh C Varshney said that such benefits and perquisites are income and were always taxable whether received in cash [...]
Foods and Inns Limited declares robust growth, Standalone Revenue up by 73% YoY
Foods & Inns Limited, one of the largest pioneers of food processing industry in India has announced robust financial numbers in FY22. HIGHLIGHTS OF STANDALONE BUSINESS Standalone Financials FY22 vs FY21 (Y-o-Y basis) 1. The Revenue from Operations of the Group has increased to INR 616.49 Crores from INR 356.57 Crores in FY'21. The Revenue [...]
5G set to spawn massive job opportunities: Telecom Secretary
The advent of 5G and new services that it would usher, will spawn fresh job opportunities in the market, requiring suitable skilling of manpower in new technologies, Telecom Secretary K Rajaraman said on Wednesday. Rajaraman, who was speaking at an event of Telecom Sector Skill Council (TSSC), said that from BharatNet to space communications, and [...]
Cabinet amends biofuels policy, advances ethanol blending target to 2025-26
The Union Cabinet on Wednesday approved advancing the target of blending 20 per cent ethanol in petrol by 5 years to 2025-26 as well as allowing more feedstocks for the production of biofuels in a bid to cut reliance on imported oil for meeting the country's energy needs. The Cabinet, headed by Prime Minister Narendra [...]
Top executives’ salaries may jump 8.9 pc in 2022, highest in 5 years: Survey
Salaries of senior executives in India are likely to increase by 8.9 per cent in 2022, highest in five years, amid a recovery in business sentiments post pandemic, according to leading global professional services firm Aon plc. The Aon's 11th annual Executive Rewards Survey in India, which analysed data across 475 companies from more than [...]
Should you subscribe to Paradeep Phosphates IPO? Check what analysts have to say
Here’s what top analysts from brokerages recommend Angel One: Neutral “In terms of valuations, the stock will trade at post issue P/E multiples of 15.3xFY2021 EPS (at the upper end of the issue price band), which is in line with other players like Chambal fertilizer and Deepak fertilizer though they may not be strictly comparable. [...]
The metaverse is coming but we still don’t trust AI
Many people believe that technology is neutral or unbiased, but the reality is more complex, especially in an immersive environment. If the proponents of the metaverse have their way we’ll one day be lining up for healthcare or a mortgage in a virtual world run by virtual decision makers. Design of the artificial intelligence systems [...]
Govt extends April GST payment deadline till May 24
As taxpayers face technical glitches on the GST portal, the government on Tuesday extended the due date for April tax payment till May 24 and has directed Infosys for early resolution of the problem. “The due date for filing FORM GSTR-3B for the month of April 2022 has been extended till 24th May 2022,” the [...]
Luxury watch player Ethos garners Rs 142 cr from anchor investors ahead of IPO
Luxury and premium watch retail player Ethos on Tuesday said it has raised around Rs 142 crore from anchor investors ahead of its initial share sale, which opens for subscription on Wednesday. The company has decided to allocate 16,13,725 equity shares to anchor investors at Rs 878 apiece, aggregating the transaction size to Rs 141.68 [...]
Hotel body seeks govt intervention for revival of hospitality sector
The Federation of Hotel & Restaurant Associations of India has suggested various measures and sought the government's intervention for the revival and growth of the hospitality industry. The recommendations include making tourism a priority sector, according infrastructure status to hospitality industry, ensure better credit facilities, subsidies and incentives, rationalisation of GST, continuation of EPCG scheme, [...]
Airtel appoints P K Sinha, Shyamal Mukherjee as independent directors
Telecom operator Bharti Airtel on Tuesday announced the appointment of former cabinet secretary P K Sinha, and former PwC India head Shyamal Mukherjee as independent directors on its board. The appointments are subject to approval by shareholders at Airtel's upcoming Annual General Meeting, the company said in a regulatory filing. PK Sinha served as the [...]
Motilal Oswal Financial Services announces buyback of shares
Motilal Oswal Financial Services on Tuesday announced buyback of its 14.55 lakh equity shares at a price of Rs 1,100 per unit for an aggregate amount not exceeding Rs 160 crore. The buyback represents 0.98 per cent of the total paid-up equity share capital of the company as on March 31, 2022, Motilal Oswal Financial [...]
SAIL supplied 4,300 tn special steel for indigenous navy warships: Official
Steel Authority of India Ltd has supplied 4,300 tonnes of special steel for India’s indigenous navy warships INS ‘Udaygiri’ and INS ‘Surat’, an official said. The entire quantity of steel has been supplied from SAIL’s Bokaro, Bhilai and Rourkela Steel Plants, he said. “This is in continuation to SAIL’s sustained efforts to contribute substantially in [...]
Vedanta Aluminium signs pact with NHAI to construct greener roads in Odisha
Vedanta Aluminium on Tuesday said that it has entered into long-term pact with the National Highways Authority of India to construct greener roads with fly-ash in Odisha. Fly-ash is a by-product of thermal power generation using coal. "The company has... entered a long-term partnership with the National Highways Authority of India (NHAI) for building greener [...]
IOC posts highest revenue by any Indian company, record profit in FY22
Indian Oil Corporation (IOC), the nation's biggest oil firm, on Tuesday reported a 31.4 per cent drop in the fourth quarter net profit as record refining margins were wiped away by a margin squeeze in petrochemicals and losses on auto fuel sales. Standalone net profit of Rs 6,021.88 crore, or Rs 6.56 a share, in [...]
MFIs’ total loan portfolio grows 5% to Rs 2,62,598 crore as on March 2022: Report
Microfinance industry loan portfolio grew by 5 per cent year-on-year to Rs 2,62,598 crore in the fiscal ended March 2022, according to a report by Sa-Dhan released on Tuesday. In the year-ago period, the same stood at Rs 2,50,826 crore. Sa-Dhan is an RBI recognised Self Regulatory Organisation (SRO) for microfinance institutions. In the last quarter [...]
ICAR official calls for stopping industrial use of edible oils
A senior official of the Indian Council of Agricultural Research (ICAR) on Tuesday called for stopping the industrial use of edible oils while pointing out that the paints industry consumes 23 per cent of the country's edible oil. Speaking with PTI, ICAR Assistant Director General (Oilseeds and Pulses) Dr Sanjeev Gupta on Tuesday said, "It [...]
BSE appoints S S Mundra as chairman
Leading stock exchange BSE on Tuesday said its board has appointed S S Mundra, a public interest director, as the chairman of the bourse. Mundra will replace Justice Vikramajit Sen. "This is to inform that the board of directors of the company on Monday had considered and approved the appointment of S S Mundra, public [...]
Kotak Group Unveils Kotak Private – A Comprehensive Platform for UHNIs and HNIs
The new brand theme ‘Live Your Purpose’ focuses on enabling clients to think beyond managing their wealth, and pursuing their deeper purpose in life Kotak Mahindra Group (“Kotak Group”) today unveiled Kotak Private – a new proposition that offers a comprehensive platform covering the entire gamut of solutions for ultra-high net worth individuals (UHNI) and [...]
Rakesh Jhunjhunwala Portfolio: 4 Stocks that dropped over 60% from their 52-week high
The markets rebounded and ended their six-day falling streak on Monday as banking, financial, power and auto stocks gained. On Tuesday, we saw that the benchmark indices continued to increase. Analysts said that the recent selling pressure seems to have halted and that a close above the 15,900-16,000 level (Nifty 50) could send signs of [...]
IRB Infra Q4 Results: Consolidated net profit zooms 79%
IRB Infrastructure Developers Ltd on Tuesday reported a 79.04 per cent jump in its consolidated net profit to Rs 175 crore for the fourth quarter ended in March 2022. The company had clocked a net profit of Rs 97.45 crore during the year-ago quarter, IRB Infrastructure Developers said in a BSE filing. Its total income [...]
Abbott India Q4 Results: Net profit up 39% at Rs 211 cr
Drug firm Abbott India on Tuesday said its net profit increased by 39 per cent to Rs 211 crore for the fourth quarter ended March 2022. The company had reported a net profit of Rs 152 crore in the January-March quarter of 2020-21 fiscal. Revenue from operations rose to Rs 1,255 crore in the period [...]
Amazon fraud case: Two Americans plead guilty in multimillion-dollar scheme
Two American nationals have pleaded guilty in a case of multimillion-dollar scheme to manipulate the Marketplace platform of Amazon in which an Indian-origin former employee of the e-commerce giant was sentenced to 10 months in prison in February. Amazon Marketplace is an e-commerce platform owned and operated by Seattle-based Amazon that enables third-party sellers to [...]
EKI Energy Services Results: Standalone net profit jumps to Rs 383 crore in FY22
EKI Energy Service on Tuesday posted a multi-fold jump in standalone net profit at Rs 383.36 crore in 2021-22 financial year, mainly on the back of higher revenues. The standalone net profit of the company was at Rs 18.69 crore in the fiscal ended March 2021. In the last fiscal, total standalone income rose to [...]
With transactions worth Rs 1 lakh crore, govt surpasses FY22 target of monetisation plan
The government has completed transactions worth Rs 1 lakh crore under the National Monetisation Pipeline (NMP) in 2021-22, surpassing the ambitious programme's first-year target of Rs 88,000 crore, Niti Aayog CEO Amitabh Kant said on Tuesday. Addressing an event organised by Public Affairs Forum of India (PAFI), Kant said India needs to fire on all [...]
Bharti Airtel Q4 Results: Consolidated net profit zooms to Rs 2008 cr
India's second largest telecom operator Bharti Airtel on Tuesday posted over two-fold jump in its consolidated net profit to Rs 2,008 crore for the March quarter. The net profit stood at Rs 759 crore in the year-ago period. Airtel's revenue from operations rose 22.3 per cent to Rs 31,500 crore during the fourth quarter of [...]
Kajaria Ceramics Q4 Results: Consolidated net profit down 26%
Kajaria Ceramics Ltd on Tuesday reported a decline of 25.87 per cent in consolidated net profit at Rs 97.23 crore for the fourth quarter ended March. The company had posted a net profit of Rs 131.17 crore in the year-ago period, Kajaria Ceramics said in a BSE filing. However, its revenue from operations was up [...]
Weak LIC listing due to volatile markets; investors should hold on to stock for long term: DIPAM Sec
Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Tuesday said the weak debut of the country's largest insurer LIC on the bourses was due to unpredictable market conditions and suggested investors to hold on to the stock for long-term value. LIC on Tuesday listed its shares at a discount of [...]
RBL Bank raises USD 100 mn from bonds
RBL Bank on Tuesday said it has raised USD 100 million (about Rs 770 crore) through its first issuance of Basel III-compliant unsecured and subordinated tier 2 bonds. The tier 2 bond issuance increases the bank’s total Capital Adequacy Ratio to 17.85 per cent, RBL Bank said in a statement. The bonds with a tenor [...]
Xanadu Realty receives funds from HDFC, HDFC Life
Xanadu Realty Ltd, a realty tech business accelerator firm, on Tuesday announced that it has received a strategic investment from HDFC Ltd and HDFC Life Insurance Co. Ltd. However, the company did not disclose the investment amount. The investment from HDFC Ltd and HDFC Life Insurance Co. Ltd will bolster Xanadu Realty's plans of strategic [...]
India’s steel exports to remain strong in coming months: Moody’s
India's steel exports are expected to remain strong in the coming months as higher prices and regional demand would drive the steel companies to divert part of their output to exports, according to Moody's Investors Service. In its report 'Steel – Asia Pacific: Higher raw material costs reduce benefit of steel price gains amid Ukraine [...]
FPI holdings in domestic equities down 6% at USD 612 bn in March quarter: Report
The value of foreign portfolio investors' (FPI) holdings in domestic equities reached USD 612 billion in the March quarter, down 6 per cent from the preceding quarter, according to a Morningstar report. This was largely on the back of a massive sell-off by foreign investors and correction in the Indian equity markets. At the end [...]
Bajaj Electricals Q4 Results: Consolidated net profit down 29%
Bajaj Electricals on Tuesday reported a 28.73 per cent decline in consolidated net profit at Rs 38.67 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 54.26 crore for March quarter of the previous fiscal year, Bajaj Electricals said in a regulatory filing. However, total revenue from [...]
Need to reduce taxes on oil in collaborative manner: CII President
Making a strong case for reduction in taxes on petrol and diesel, CII President Sanjiv Bajaj on Tuesday said it should be done in a collaborative manner between the Centre and states with a view to containing the rising inflation. In an interview to PTI, he said taxes on petrol and diesel were increased by [...]
CBI books Karti Chidambaram for facilitating visas of Chinese nationals for illegal gratification
The CBI has registered a fresh case against Lok Sabha MP Karti Chidambaram to probe an 11-year-old allegation of facilitating visas of 250 Chinese nationals after receiving illegal gratification of Rs 50 lakh in 2011 when his father P Chidambaram was the Union home minister, officials said on Tuesday. After registering the case, the CBI [...]
Is it a good time to buy DMart shares? Here’s what analysts recommend!
The shares of Radakishan Damani led DMart has plunged 30.90% in the last six months and 12.67% in the last month. However, we saw that its share price increased by 8% on Monday’s opening deals, after the company reported healthy March quarter profits. The company said that its FMCG business was recovering well. There was [...]
Aditya Auto Products, Edscha form joint venture
Aditya Auto Products & Engineering on Tuesday said it has signed a 50:50 joint venture agreement with international equipment supplier Edscha to tap the increasing domestic automotive systems market potential. The collaboration with Bengaluru-based Aditya Auto, the first venture for Edscha in India, is aimed at developing, manufacturing and distributing door checks, hinge systems, parking [...]
WPI inflation at record high of 15.08% in April on price rise across all items
Wholesale price-based inflation spiked to a record high of 15.08 per cent in April on rising prices across segments from food to commodities. The WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April last year. "The high rate of inflation in April 2022 was primarily due to rise in prices [...]
After committing $955 mn on buys, Tech Mahindra to focus on integrating companies
Having committed over USD 955 million (around Rs 7,353 crore) to acquire 10 companies in the immediate past, Tech Mahindra will be less acquisitive in the new fiscal year and focus on integrating them, a senior company official said. The Mahindra Group company, with revenues of nearly USD 6 billion in FY22, will look at [...]
Future Multibagger Stocks to BUY for an upside of more than 80%
After a sharp rebound in March, Markets turned volatile in April. The US Fed hiked rates, energy prices surged and supply chain disruptions led to a spike in inflation. These trends have continued in May as well. However, experts expect a sharp economic rebound. Here are two stocks that can give multibagger returns as recommended [...]
Prime Minister Narendra Modi inaugurates India’s first 5G testbed
Prime Minister Narendra Modi on Tuesday inaugurated the country's first 5G testbed to enable startups and industry players to test and validate their products locally and reduce dependence on foreign facilities. The testbed has been set up at a cost of around Rs 220 crore. Speaking at the silver jubilee celebrations of the Telecom Regulatory [...]
Hero Electric ties up with RevFin to provide loans to EV riders
Hero Electric on Tuesday said it has partnered with digital consumer lending platform RevFin to provide loans to EV riders across India. The partnership aims to finance and lease 2.5 lakh vehicles over the next three years, the company said in a statement. With delivery and e-commerce segments growing exponentially, Hero Electric aims to support [...]
No tax on USD 6.38 bn transaction with Adani Group, says Holcim
Swiss building material major Holcim said its USD 6.38 billion deal with Asia's richest man Gautam Adani's group is tax-free. Holcim had on Sunday signed a binding agreement with the Adani Group to sell its business in India -- about a 63 per cent stake in Ambuja Cement, which owns a 54.53 stake in ACC [...]
US hopes India would ‘reconsider’ its decision to restrict wheat exports
The US hopes India will “reconsider” its decision to ban wheat exports, with Washington “encouraging" countries not to restrict exports as that will exacerbate food shortages, amidst Russia's invasion of Ukraine. India, the world's second-biggest wheat producer, has banned wheat exports in a bid to check high domestic prices amid concerns of wheat output being [...]
LIC lists at 8.11% discount at Rs 872 per share on NSE
The country's largest insurer LIC on Tuesday listed its shares at a discount of 8.11 per cent at Rs 872 per share on the NSE. On the BSE, the shares got listed at Rs 867.20 apiece, down 8.62 per cent over the issue price of Rs 949 a share. LIC had fixed the issue price of its [...]
Indian wearables market grows 20.1% to 13.9 mn units in Jan-Mar: IDC
The Indian wearables market grew 20.1 per cent year-on-year to 13.9 million units in January-March 2022, according to data released by International Data Corporation on Monday. International Data Corporation (IDC) said the growth can be attributed to new launches, discounts across channels, and aggressive marketing by brands. Watches shipment jumped 173 per cent year-on-year to [...]
Ajay Srinivasan quits as MD of Aditya Birla Capital
NBFC firm Aditya Birla Capital Ltd (ABCL) on Monday said Ajay Srinivasan has decided to step down as MD and CEO of the company and his departure has nothing to do with an investigation into alleged irregularities and corruption. According to reports, serious allegations of corruption and mismanagement have been levelled by a whistleblower against [...]
Adventum Student Living raises USD 5 mln
Adventum Student Living (ASL) on Monday said it has raised USD 5 million (over Rs 38 crore) from investors. ASL is an integrated destination for students pursuing overseas higher education. Within two years of its inception, ASL has introduced and unified three brands - UniAcco, UniCreds, and UniScholarz - that offer a one-stop solution for [...]
GlaxoSmithKline Pharma Q4 Results: Consolidated net loss at Rs 55 cr
GlaxoSmithKline Pharmaceuticals on Monday reported a Rs 55 crore consolidated net loss from continuing operations for the fourth quarter. The drug firm had reported a net profit of Rs 4 crore for the January-March quarter of the 2020-21 fiscal. Revenue from operations rose to Rs 810 crore for the fourth quarter compared to Rs 744 [...]
Canara Bank eyes 8-10% loan growth; rise in corporate credit this fiscal
State-owned Canara Bank is expecting an 8-10 per cent growth in advances as well as a healthy double-digit rise in corporate loan portfolio in the current financial year, its Managing Director and CEO L V Prabhakar said on Monday. In the fiscal ended on March 31, 2022, the lender's gross advances grew by 9.77 per [...]
Oman Air partners with IBS Software to fully digitalise staff travel programme
Gulf-based carrier Oman Air has partnered with IBS Software to fully digitalise its staff travel programme and simplify processes to make it easier for them to manage their personal and corporate travel. A provider of SaaS (software-as-a-service) solutions to aviation, tourism and hospitality sectors, global PE Fund-backed IBS Software caters to a host of clients [...]
DTH players seek 8% licence fee waiver to remain competitive
DTH players have approached the government to waive the 8 per cent licence fee imposed on them in line with a similar proposal for broadband services so that they remain competitive in the market, industry body DTH Association has said. The DTH body approached the Information and Broadcasting Ministry following a proposal under the consideration [...]
VIL says multiple network initiatives boosted 4G experience for customers in Delhi-NCR
Telecom operator Vodafone Idea on Monday said it has boosted the 4G experience of its customers in the national capital region, with multiple network initiatives that spurred better indoor coverage and faster speeds. The company has, till now, deployed the highly efficient 900MHz spectrum as well as 1800 MHz band on about 8,400 sites in [...]
Neso Brands raises $100 mn in seed fund, appoints Bjorn Bergstrom as CEO
Eyewear house Neso Brands on Monday said it has raised more than USD 100 million (around Rs 775 crore) in seed fund from several investors, including KKR, Softbank, Alpha Wave Global and Temasek. A subsidiary of Softbank-backed eyewear company Lenskart, Neso Brands will partner and invest in consumer eyewear brands around the world and grow [...]
Avenue Supermarts shares rally over 10% after Q4 earnings
Shares of Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Monday rallied over 10 per cent after the company reported a 3.11 per cent increase in consolidated net profit for the fourth quarter ended March. The stock jumped 10.14 per cent to settle at Rs 3,562.90 on the BSE. During the day, [...]
SJVN to develop hydel 490 MW Arun-4 power project worth Rs 4,900 crore in Nepal
State-owned SJVN Ltd will develop another hydro power project Arun-4 worth Rs 4,900 crore in Nepal. A Memorandum of Understanding (MoU) for the development of the 490 MW Arun-4 hydro electric project in Nepal has been signed in Lumbini, Nepal in the presence of Prime Minister Narendra Modi and Prime Minister of Nepal Sher Bahadur [...]
Eicher Motors shares rally nearly 8% after earnings
Shares of Eicher Motors on Monday jumped nearly 8 per cent after the company reported a 16 per cent rise in its consolidated net profit after tax for the fourth quarter ended March 2022. The stock gained 7.46 per cent to settle at Rs 2,617.80 on the BSE. During the day, it rallied 7.86 per [...]
Disclosure lapses: Sebi bars Urja Global, four individuals from securities mkt for 2 years
Sebi has barred Urja Global and four individuals from the securities market for various disclosure lapses and also directed the firm to obtain a practising company secretary's certificate of authenticity for corporate announcements to be made in the next three years. The directions are part of a 56-page order passed by the watchdog on Friday [...]
Paytm to file for new license, says bullish about its roadmap for general insurance
Digital payments and financial services company Paytm has said that it will seek a new general insurance license with a fresh application, aimed at gaining majority shareholding with a 74 per cent upfront equity stake. In a regulatory filing, Paytm reiterated its intention to make inroads in the general insurance sector, as it is extremely [...]
Century Plyboards Q4 Results: Consolidated net profit up 2%, revenue up 21%
Century Plyboards (India) Ltd on Monday reported a 2.08 per cent increase in its consolidated net profit to Rs 88.75 crore for the fourth quarter ended in March 2022. The company had reported a net profit of Rs 86.94 crore in the January-March quarter a year ago, Century Plyboards said in a BSE filing. Its [...]
Inflation increase due to war impact; RBI may hike rates by 75 bps by August: SBI Economists
At least 59 per cent of the accelerated inflation is attributable to the impact of the geopolitical conflict triggered by the Russian invasion of Ukraine, economists at SBI said on Monday. In the face of the heightened inflation situation – the headline number touched nearly 7.8 per cent for April, and the RBI is set [...]
Honasa Consumer acquires majority stake in skincare brand Dr. Sheth’s
Honasa Consumer Pvt Ltd (HCPL), the company which owns new age FMCG brands such as Mamaearth and The Derma Co, on Monday said it has acquired a majority stake in skincare brand Dr. Sheth's at a valuation of Rs 28 crore. Its product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and [...]
These 3 IPOs are opening this week; Check out the details!
The IPO season is back in the Indian Equity Market. Last week, the mega LIC IPO closed on 11th May 2022 that got subscribed 2.95 times on the final day and will be getting listed in the secondary market this week on May 17, 2022. This week, three more companies are offering public issues, namely [...]
BEL to manufacture battery packs for Triton electric trucks
The Pune unit of Navratna Defence PSU Bharat Electronics Limited (BEL) will manufacture Li-ion battery packs for the electric trucks of US-based Triton, as part of an MoU signed between the two companies. The agreement was inked to explore manufacturing of battery cells in India for energy storage systems and electric vehicles in the heavy [...]
Drone excellence centre to be set up in UP
Omnipresent Robot Technologies has inked a pact with Gautam Buddha University and Skill Council of India to set up a drone excellence centre in Uttar Pradesh. The centre will have segments for drone pilot and operations training, drone data processing and analysis and app development, drone design and manufacturing, and drone testing and repair, according [...]
HDFC-backed proptech startup Reloy aims 3-fold jump in revenue to Rs 13 cr in FY23
HDFC-backed proptech firm Reloy is targeting a three-fold jump in its revenue to Rs 13 crore this fiscal, helped by expansion to new cities and the addition of more real estate clients. Founded by Akhil Sharaf in 2018, Reloy, erstwhile Loyalie IT Solutions, has been working closely with top builders to create the perfect home-owning [...]
IG International and BCIL ink pact for propagation of 2.5 million rootstocks for variety of fruits
Fresh fruits importer IG International on Monday announced signing of an agreement with state-run Biotech Consortium India Ltd for propagation of 2.5 million rootstocks for apples, stone fruits, kiwifruit and citrus fruits. BCIL (Biotech Consortium India Ltd) has played a key role in promoting the plant tissue culture sector in India and establishing the National [...]
Insecticides India gets patents for two novel agrochemical compounds for 20 yrs
Agro-chemicals firm Insecticides India Ltd (IIL) on Monday said that it has secured patents for two novel agrochemical compounds for a term of 20 years. The patent secured from the Government of India is for Novel Miticidal Benzyalamide and Novel Dithiolane, which will be used as foundation active ingredients for various fungicide and insecticide compositions [...]
Bharat Forge Q4 Results: Consolidated net profit surges 9.3% to Rs 232 cr
Auto components major Bharat Forge Ltd on Monday reported a 9.3 per cent increase in its consolidated net profit at Rs 231.86 crore in the fourth quarter ended March 2022, driven by higher revenue. The company had posted a consolidated net profit of Rs 212.12 crore in the same period of the preceding fiscal, Bharat [...]
GreenCell Mobility to deploy 50 electric buses in 4 districts of Maharashtra
EverSource Capital-backed shared electric mobility platform GreenCell Mobility on Monday said it plans to deploy 50 electric buses in four districts of the state in a phased manner for inter-city travel. The first such bus is set to be launched on the Ahmednagar-Pune route from June 1, the company said in a statement. These standard [...]
Tata Power Solar Systems bags NHPC’s 300 MW solar project worth Rs 1,731 crore
Tata Power Solar Systems on Monday said it has bagged 300 MW solar project worth Rs 1,731 crore from state-owned NHPC. "Tata Power Solar Systems, one of India's largest integrated solar companies and a wholly-owned subsidiary of Tata Power, bagged an order of 300 MW solar project worth Rs 1,731 crore, inclusive of tax from [...]
Sebi eases annual report dispatch rules for entities with listed non-convertible securities
Capital markets regulator Sebi has relaxed compliance rules for entities with listed non-convertible securities from dispatching physical copies of annual report to the debenture holders till December-end. The development comes after the Ministry of Corporate Affairs (MCA) on May 5, extended the relaxations related to dispatching the physical copies of financial statements for the year [...]
Share India Securities Q4 Results: PAT jumps over two-fold to Rs 76 crore
Technology-driven financial services company Share India Securities Ltd on Monday reported more than two-fold jump in its profit after tax at Rs 76.02 crore for the quarter ended March 2022. In comparison, the company had posted a PAT (Profit After Tax) of Rs 35.82 crore in the same quarter of preceding fiscal, Share India Securities [...]
Adani becomes the second largest cement manufacturer in India after Holcim Deal
Indian business tycoon Gautam Adani on Sunday, May 15, clinched a $10.5 billion deal to acquire a 63.19% stake in Swiss cement major Holcim Ltd's India operations, Ambuja Cements Ltd and its subsidiary ACC Ltd. This deal is India’s biggest M&A transaction in the infrastructure and materials space, the Adani Group said. With this acquisition, [...]
Top Stock Picks: Buy these stocks which can give good returns in short term
The Indian benchmark indices logged their fifth straight week of losses, the longest weekly losing streak since 2020 after Indian shares ended lower for a sixth straight session on Friday. The thirty share index fell 0.26% and settled at 52,793.62, while the NSE Nifty fell 0.16% to 15,782.15 points on Friday. Here’s a list of [...]
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