The railways has cancelled the tenders for the redevelopment of the New Delhi and Ahmedabad railway stations after the bids submitted turned out to be "excessively" high compared to the cost estimated by the national transporter. Sources said a high-level meeting will be held on Thursday to review the tender documents for the two stations. [...]
Reliance Power on Wednesday reported a net profit of Rs 321.79 crore for the quarter ended March 2023. The consolidated net loss of the company was Rs 657.89 crore in the quarter ended on March 31, 2022, according to a BSE filing. Total income of the company stood Rs 1,856.32 crore in the latest March quarter as [...]
State-run Central Bank of India on Wednesday said it has an outstanding exposure of Rs 1,305 crore to cash-strapped airline Go First as on March 31. The Wadia group-owned airline's plea for initiation of insolvency proceedings was mentioned before NCLT's Delhi bench-headed by president Justice Ramalingam Sudhakar and the bench agreed to an urgent hearing [...]
The Enforcement Directorate on Wednesday conducted searches at multiple premises linked to prominent Kerala-based non-banking financial company (NBFC) Manappuram Finance Ltd. as part of a money laundering investigation against it, official sources said. The raids are being undertaken to gather pieces of evidence related to allegations that the company collected public deposits worth more than [...]
Passenger vehicle retail sales in India declined by 1 per cent last month as buyers preponed purchases to March in order to avoid enhanced prices on account of stricter emission norms kicking in from April 1, automobile dealers' body FADA said on Thursday. The passenger vehicle retail sales declined to 2,82,674 units last month as [...]
Equity benchmark indices climbed in early trade on Thursday amid continuous foreign fund inflows and buying in index major Reliance Industries. The 30-share BSE Sensex climbed 77.64 points to 61,270.94 in early trade. The broader NSE Nifty advanced 27.7 points to 18,117.55. From the Sensex firms, Larsen & Toubro, Bajaj Finance, Titan, Tata Steel, Bajaj [...]
TVS Supply Chain Solutions, part of TVS Mobility Group, has re-filed draft IPO papers with capital markets regulator Sebi and cut the fresh issuance size to Rs 750 crore from Rs 2,000 crore planned earlier. The company, which got approval from Sebi in May 2022 to float the initial public offering (IPO), did not launch [...]
According to a recent report by McKinsey, India is likely to account for more than a fifth of incremental global consumption for chemicals over the next two decades. Domestic demand is projected to rise to $1,000 billion by 2040. The sector is projected to grow at 11-12 percent during 2021-27 and 7-10 percent during 2027-40. [...]
With a market capitalization of ₹ 5,27,507 crores, ITC is a blue-chip company that has diversified business interests. The conglomerate operates through four business segments — FMCG, Hotels, Paper and Packaging, cigarettes and agribusiness. The company’s shares have been on an uptrend and reached a new all-time high of ₹ 428.50 apiece on Wednesday. In [...]
Aviation stocks soared higher on Wednesday’s intraday trades after Wadia group-owned airline Go First, on May 02, 2023, voluntarily filed for bankruptcy with the National Company Law Tribunal (NCLT), blaming the situation on Pratt & Whitney for supplying faulty engines. The surprise move can prove to be beneficial for its rivals like Spice Jet and [...]
Godrej Properties on Wednesday reported 58 per cent increase in consolidated net profit at Rs 412.14 crore for the quarter ended March 2023 on higher revenue driven by strong housing demand. Its net profit stood at Rs 260.47 crore in the year-ago period. Total income rose to Rs 1,838.82 crore in the fourth quarter of [...]
Shares of FINO Payments Bank Limited, a Private sector player, witnessed its shares jumping nearly 2 percent and currently trade at Rs 221.65. In the past month, the stock has delivered returns of around 6.5 percent to its stakeholders ranging from Rs 208 to the current levels. The company recently announced its results for FY22-23 [...]
Tata group owned Air India on Wednesday announced entering into an interline pact with Vistara. An interline arrangement refers to a pact to issue and accept tickets for flights that are operated by the partner airline. When selling an interline ticket, the operating airlines own flight numbers are used. The partnership allows Air India's passengers [...]
Edible oil major Adani Wilmar on Wednesday reported 60 per cent decline in consolidated net profit at Rs 93.61 crore for the quarter ended March 2023 on lower revenue. Its net profit stood at Rs 234.29 crore in the year-ago period. Total income fell to Rs 13,945.02 crore in January-March 2022-23 from Rs 14,979.83 crore [...]
Stocks of the Public sector lender UCO Bank opened its trading session at Rs 30.25 and currently trade at Rs 29.15. The scrip is down 5.2 percent as compared to the previous closing price of Rs 30.75. The company recently announced its results for the financial year 2022-2023, details of which are discussed later on [...]
Shares of Indian Hotels Company Ltd (IHCL) appreciated to the tune of 4.48% on Wednesday’s early deals to reach an intraday high of ₹ 363.00 apiece on the National Stock Exchange (NSE) after reporting robust results. The company’s total income grew by 73.27% to ₹ 1,654.54 in the January to March quarter (Q4FY23), against ₹ [...]
Shares of Bhansali Engineering Polymers Limited, an Integrated Petrochemical Company based in India, rallied nearly 13 percent and currently trade at Rs 115. The company has a market capitalization of Rs 1,908 crores. One of the probable reasons for the stock prices to surge is the recent regulatory filing that the company filed with the [...]
The foreign exchange market is a fast-paced financial industry with trillions of dollars being traded on a daily basis. As a result, it has become quite challenging for individual traders to stay ahead of the curve. To address this issue, many traders are turning to virtual private servers (VPS) as a solution. Therefore, in this [...]
One of the most important parameters to judge the performance of the company is to watch how the debt scenario of the company is and how leverage is managed by the same. Keeping the advantages of debt financing aside, it is important to note how it affects the operational numbers over the years. Moving further, [...]
Fincare Small Finance Bank Ltd has refiled its preliminary IPO papers with market regulator Sebi after updating documents on financial earnings for fiscal 2022-23. This came after the Securities and Exchange Board of India (Sebi) returned the small finance draft IPO (Initial Public Offering) papers on March 3 and asked the company to refile the [...]
