IIFL Finance on Wednesday reported 16 per cent jump in standalone net profit at Rs 269 crore for March quarter 2022-23. The non-banking financial company had posted a net profit of Rs 231 crore for the year-ago period. Total income during January-March last fiscal rose to Rs 1,092 crore from Rs 1,079 crore, IIFL Finance [...]
Market benchmark indices advanced in early trade on Thursday, climbing for the fourth straight day amid fresh foreign fund inflows and buying in index major Reliance Industries. The 30-share BSE Sensex climbed 88.71 points to 60,389.29 points. The broader NSE Nifty advanced 19.40 points to 17,833 points. From the Sensex firms, Kotak Mahindra Bank, Bajaj [...]
Shares of Stove Kraft Limited closed in the green today at Rs 388 levels gaining approximately 2.5 percent in comparison to the previous closing price of Rs 378.45. In the last one-month period, the stock has provided a return of about 4.5 percent to its stakeholders. One of the probable reasons for the stock prices [...]
Dalmia Bharat on Wednesday said it has executed definitive agreements with debt-ridden Jaiprakash Associates Ltd (JAL) to acquire the latter's cement assets as per an earlier announcement. Dalmia Cement (Bharat) Ltd (DCBL), a subsidiary of Dalmia Bharat, on Tuesday executed definitive agreements with JAL for the acquisition of JP Super Cement Plant in Uttar Pradesh [...]
Stocks of AU Small Finance Bank Limited dipped around 2.5 percent today and closed at Rs 644 levels. The scrip observed an intra-day low figure of Rs 630.85 representing a downfall of nearly 5 percent. This week, the company announced its results for the March quarter as well as the financial year ending 2023. Details [...]
Equity benchmark indices Sensex and Nifty extended their rally for the third straight session on Wednesday amid buying in index major IndusInd Bank, Nestle India and HCL Tech. However, continuous foreign fund outflows and a weak trend in global equities restricted gains in the market, traders said. The 30-share BSE Sensex climbed 169.87 points or [...]
Multiplex chains PVR Ltd and Inox Leisure Ltd had announced a merger last year. This happened after the industry was hit hard by closures due to the pandemic that wiped out a lion’s share of the industry’s revenue. Moreover, the rise in the consumption of OTT content added fuel to the fire. OTT platforms in [...]
Almost 70 per cent of business executives in India plan to integrate the metaverse into their organisational activities, said a report by PwC India. Though the term metaverse spans a wide spectrum of definitions, it mainly denotes a digital environment with a virtual world that mimics reality through the use of emerging technologies such as [...]
Maruti Suzuki India on Wednesday reported a 42 per cent rise in consolidated net profit to Rs 2,671 crore for the fourth quarter ended March 2023, driven by higher sales, improved realisation and favourable forex movement. The country's largest carmaker logged a net profit of Rs 1,876 crore in the January-March of 2021-22. Net sales [...]
Shares of Oriental Hotels Ltd, a Tata group company were deep in the green after the company reported its results for the January to march quarter of 2023 (Q4FY23). Its share price climbed 11.45% on Wednesday’s intraday trades to reach a 52-week high of ₹ 92.00 apiece. At 03:03 PM, its shares were trading at [...]
Shares of Macrotech Developers Limited, the largest real estate developer in India, opened their trading hour at Rs 901.95 and currently trade at Rs 902.50. The scrip is up around 1 percent as compared to the previous closing price of Rs 893.75. In the last one-month period, the stock has provided returns of around 13 [...]
Manufacturers of braking equipment for automotive and non-automotive applications Brakes India has forayed into the lubricants segment with the launch of 'Revia' brand, the company said on Wednesday. The engine oils would cater to both passenger- and commercial-vehicle segments. "Established for over six decades, Brakes India is known in the automotive industry for safety components [...]
Shares of Multi Commodity Exchange of India (MCX) tumbled nearly 8 per cent in the mid-session trade on Wednesday after its Chief Technology Officer Shashank Sathe resigned from the company. The firm's scrip tanked 7.77 per cent to Rs 1,372.10 apiece on the NSE. On the BSE, it plunged 7.71 per cent to Rs 1,373 [...]
Essar Oil and Gas Exploration and Production Ltd (EOGEPL) will invest another Rs 2,000 crore in the next 18 to 24 months in its coal bed methane project in West Bengal’s Raniganj, an official said. The company earlier had already invested Rs 5,000 crore in the Raniganj block in drilling 350 wells and producing nearly [...]
As many as 7 PSU stocks shot up on Wednesday’s early trades, logging up to 20 percent gains after the Gujarat state government announced a new policy of compulsory dividends and bonus shares. Moreover, it set guidelines for when to go in for a stock split and a share buyback. Gujarat Mineral Development Corporation gained [...]
Reliance Industries Ltd's (RIL) strategy to diversify and dominate a number of industries will boost spending and will also help mitigate its elevated capex needs, rating agencies said on Wednesday. While S&P Global Ratings said it believes that "the company's appetite for bigger investments or M&As will dissipate", Fitch Group company CreditSights said its "credit [...]
Shares of Gujarat Industries Power Company Limited (GIPCL) were locked in the 20 percent upper circuit in the early trading hours and, after releasing from that point, the stock again reached the circuit at Rs 91.10. The company is held by parent companies which include Gujarat State Fertilizers & Chemicals Ltd, Gujarat Alkalies & Chemicals [...]
With a market capitalization of ₹ 2565 crores, Neuland Laboratories is a small-cap company that manufactures active pharmaceutical ingredients. It is an end-to-end solution provider for the pharmaceutical industry’s chemistry needs. Ace investor Vijay Kedia recently increased his stake in Neuland Laboratories through his company Kedia Securities Pvt Ltd (KSPL). Vijay Kedia is one of [...]
Tata Steel Long Products (TSLP) has posted a standalone loss of Rs 184.11 crore during the fourth quarter of financial year 2022-23, on account of increased expenses. The company had reported a net profit of Rs 59.62 crore during the January-March period of fiscal year 2021-22, TSLP said in a regulatory filing on Tuesday. The [...]
A foreign institutional investor (FII) is an investor or investment fund that is registered in a country other than the one it is investing in. Developing economies have been observed to have the highest volume of FII activities. Since these economies are dynamically growing, they provide opportunities to investors by offering higher growth potential as [...]
