Rising for the second straight session, equity benchmark Sensex climbed 142 points on Thursday following buying in IT and finance stocks amid a positive trend in global markets. After a see-saw session, the 30-share BSE Sensex ended 142.43 points or 0.23 per cent higher at 60,806.22. During the day, the index witnessed a high of [...]
State-owned Indian Overseas Bank (IOB) on Thursday reported a 22 per cent growth in its profit at Rs 555 crore in the quarter ended December 2022 due to an increase in interest income and improved asset quality. The Chennai-based bank had posted a net profit of Rs 454 crore in the same quarter a year [...]
Quick service restaurant operator Devyani International Ltd on Thursday reported a 7.63 per cent rise in consolidated net profit to Rs 71.03 crore for the third quarter ended December 2022. The company, which is the largest franchisee of Yum Brands in India -- including Pizza Hut and KFC, had reported a net profit of Rs [...]
Larsen & Toubro Ltd, (L&T) remained in focus on Thursday after the company received an order worth Rs 2,585 crore from the Ministry of Defence for the supply of 41 sets of modular bridges for the Corps of Engineers of the Indian Army. “Each set of the modular bridges shall consist of seven carrier vehicles [...]
Hindalco Industries, the Aditya Birla Group metals flagship, on Thursday posted a 62.9 per cent decline in consolidated profit after tax at Rs 1,362 crore for the quarter ended December 31, 2022 mainly due to elevated input costs, unfavourable macros and inflationary impacts. The company had posted consolidated Profit After Tax (PAT) of Rs 3,675 [...]
Union Finance Minister Nirmala Sitharaman presented the last full budget of the second term of the Narendra Modi government in Parliament on February 1. Here's what experts, industry insiders have reacted from this year's Budget. 1. Mr. Ajit Patil, Co-Founder/ Managing Director of DeepTek Comments on the Union Budget 2023: The Amrit Kaal Budget of [...]
Drug maker Lupin on Thursday said it has received approval from the US health regulator to market a generic medication, used before a surgery to decrease the volume of secretions from mouth, lungs and stomach, in the American market. The company has received approval from the US Food and Drug Administration (USFDA) for Glycopyrrolate Injection, [...]
All the states, union territories and 32 central government departments will integrate with the National Single Window System (NSWS) by December this year, through which companies can seek all approvals and clearances for their businesses, a top official said on Thursday. So far 19 states/UTs and 27 central government departments are already onboarded, including Andhra [...]
Driven by buoyant SIP flows, equity mutual funds have attracted Rs 12,546 crore in January, making it the highest net infusion in four months, despite volatility in stock markets. This was way higher than Rs 7,303 crore inflow seen in December, Rs 2,258 crore in November and Rs 9,390 crore in October. Prior to that, [...]
Trent Ltd, a Tata Group company, which owns Westside and Zudio posted stellar results for the October to December quarter of 2022, after which its share price appreciated to the tune of 7.59 percent to reach an intraday high of ₹ 1329.90 apiece. The company’s shares were trading at ₹ 1315.00 apiece at 11:44 AM [...]
Tyre maker MRF Ltd on Thursday reported a 17 per cent rise in consolidated net profit from continuing operations at Rs 174.83 crore for the third quarter ended December 31, 2022. The company had posted a consolidated net profit from continuing operations at Rs 149.39 crore in the same quarter last fiscal, MRF Ltd said [...]
Atul Auto Limited saw its share jump by more than 9 percent in the early hours on Thursday to reach a 52-week high of Rs 376.80. In the span of a month, the stock has gained more than 34 percent. In Q3FY23, the company reported a total revenue of Rs 133.51 Crore which was an [...]
The shares of Cummins India Ltd opened 4 percent higher at Rs 1,540 levels on Thursday as against its previous close of Rs 1,474. It further gained and reached a new 52-week high of Rs 1,618 in the early hours. The scrip gained after the company reported positive Q3 numbers. In Q3FY23, the company reported [...]
The shares of KBS India Ltd appreciated to the tune of 5% to hit the upper circuit on Thursday’s early trades. Its shares were locked at ₹ 95.90 apiece at 11:00 AM on the National Stock Exchange (NSE) KBS India is a micro-cap company with a market capitalization of ₹ 98.93 crores in the financial [...]
Mining billionaire Anil Agarwal-led Vedanta Resources' liquidity will depend on a USD 2 billion fundraising exercise and the proposed sale of international zinc assets to Hindustan Zinc Ltd, S&P Global Ratings said. The rating on Vedanta Resources will likely come under immediate pressure if neither of these transactions progresses over the coming weeks, S&P said [...]
Finance Minister Nirmala Sitharaman on Thursday held a discussion with IMF managing director Kristalina Georgieva and urged the multi-lateral funding agency to develop a globally coordinated approach to the regulation of crypto assets. The Finance Minister held a virtual conversation with the International Monetary Fund (IMF) MD to discuss the upcoming G20 Finance Ministers and [...]
Even though investing directly in stocks remains a popular choice among investors, Mutual Funds are gaining traction in the Indian stock market. A fund house creates a mutual fund that consists of multiple asset classes. The funds help the investor achieve diversity with a consistent return over a period of time. These fund houses pick [...]
Jio-bp, the fuel and mobility joint venture of Reliance Industries Ltd and UK's bp, has launched petrol blended with 20 per cent ethanol, aligning with the government programme to cut oil imports and reduce carbon emissions. "In line with the roadmap set by the Government, Jio-bp has become one of the first fuel retailers in [...]
Gati Ltd on Wednesday reported its consolidated loss at Rs 4.70 crore in the quarter ended December 2022. In contrast, the company had posted a consolidated profit of Rs 5.02 crore in the corresponding quarter of previous fiscal, Gati Ltd said in a BSE filing. The consolidated income of the company during the October-December quarter [...]
Engine manufacturer Cummins India standalone profit after tax rose 50 per cent to Rs 360.14 crore in the December quarter of 2022-23 over the same period last year. Cummins India had recorded a profit of Rs 240.97 crore in the third quarter of financial year 2021-22. Total sales for the quarter were Rs 2,144 crore, growing [...]
