Ircon International Ltd on Wednesday reported a 40.2 per cent rise in consolidated profit after tax to Rs 190 crore for the quarter that ended December 31, 2022. The company had posted a consolidated PAT of Rs 135.5 crore in the year-ago period, IRCON International Ltd said in a filing to BSE. The consolidated income [...]
Pricol Ltd, an automobile component manufacturer, has reported consolidated profit for the quarter ended December 31, 2022 at Rs 26.76 crore, the company said on Thursday. The Tamil Nadu based company had registered consolidated PAT at Rs 17.34 crore during corresponding quarter last fiscal. For the nine month period ended December 31, 2022 the consolidated [...]
Analysts are of the view that after delivering the seventh hawkish policy on Wednesday the central bank may pause after delivering a likely 25 basis points increase in the April review. For Abheek Barua, the chief economist at HDFC Bank, the 25 bps repo hike and keeping its withdrawal of accommodation stance unchanged are on [...]
Steering and suspension products manufacturer Rane (Madras) Ltd has reported over 300 per cent jump on its standalone profit after tax for the quarter ended December 31, 2022, at Rs 33.3 crore, the company said on Thursday. The company had registered standalone PAT at Rs 7.7 crore during corresponding quarter last fiscal. Total revenue on [...]
Equity benchmark Sensex dropped nearly 115 points in early trade on Thursday tracking losses in index heavyweights Maruti, Tata Motors and Reliance industries amid mixed global cues. Besides, a weak rupee against major rivals and persistent foreign capital outflows impacted domestic equity market sentiments, traders said. In a volatile trade, the 30-share BSE index was [...]
As many as 86,713 startups have been recognised by the government as on December 31, 2022, Parliament was informed on Wednesday. These startups are eligible to avail fiscal incentives under the Startup India action plan of the government. "As a result of sustained government efforts, the number of recognized startups has increased from 445 in [...]
Farm and construction equipment manufacturer Escorts Kubota Ltd on Wednesday posted a 6.7 per cent decline in consolidated net profit to Rs 180.8 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 193.71 crore in the same period last fiscal, Escorts Kubota Ltd said in [...]
France's TotalEnergies, one of the largest foreign investors in billionare Gautam Adani's business empire, said it has put on hold participation in Indian conglomerate's USD 50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller. While the partnership with Adani group was announced in June last year, TotalEnergies has [...]
There is no proposal to increase the overseas investment limits for domestic mutual funds at the moment, Reserve Bank Governor Shaktikanta Das said on Wednesday. Speaking to reporters at the customary post-policy review press conference, Das acknowledged that there have been requests from mutual funds and other market players for relaxations of the limits. "We [...]
Pipe manufacturer Astral’s board of directors in their meeting held on Tuesday, February 07, 2023, considered and approved the issue of bonus shares in the proportion of 1:3, or 1 equity share for every three shares held as of the record date. The Company has fixed Tuesday, March 14, 2023, as the Record Date, for [...]
Five more banks will join the pilot on the central bank digital currency or e-rupee for retail customers and the project will be extended to nine additional cities, the Reserve Bank said on Wednesday. The Reserve Bank, which began piloting the central bank digital currency or e-rupee for retail customers in early December with eight [...]
Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter 2022-23 mainly on the back of higher expenses. In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing. Total expenses increased to Rs 8,078.31 crore in the quarter [...]
Telecom firm Bharti Airtel and Vultr, a privately-held cloud computing company, on Wednesday announced a strategic partnership to offer cloud solutions to enterprises in India. As per the pact, Airtel will offer Vultr's suite of cloud solutions to its enterprise customers, especially those in the digital space and help them gain global reach and cost-performance [...]
The recently launched retail central bank digital currency (CBDC) pilot has 50,000 users and 5,000 merchants, the RBI said on Wednesday. "We want the process to happen, but we want the process to happen gradually and slowly. We are in no hurry to make something happen so quickly," Deputy Governor T Rabi Sankar said at [...]
Air cooler and appliances maker Symphony on Wednesday reported 85.71 per cent jump in consolidated net profit at Rs 39 crore for the third quarter ended December 2022. The company had logged a net profit of Rs 21 crore in October-December period a year ago, Symphony said in a regulatory filing. Revenue from operations rose [...]
Auto components maker Uno Minda on Wednesday reported 47.21 per cent rise in consolidated net profit at Rs 173.95 crore for the third quarter ended December 31, 2022. The company had logged a net profit of Rs 118.16 crore in the same quarter last fiscal year, Uno Minda said in a regulatory filing. Revenue from [...]
Adani Ports and Special Economic Zone’s (APSEZ) share price zoomed 8.91% on Wednesday’s early trades to reach an intraday high of ₹ 602.45 apiece on the National Stock Exchange (NSE). This happened after the company said that it is considering a loan repayment of ₹ 5,000 crores. The company’s shares quoted at ₹ 598.15 apiece [...]
Electric two-wheeler maker Hero Electric on Wednesday said it has partnered with Dhoot Transmission Pvt Ltd for new wiring harness solutions. The company's products will be equipped with the latest wiring harnesses of Dhoot Transmission under the partnership, it said in a statement. "Our partnership with Dhoot Transmission to procure wiring harnesses for our products [...]
Edible oil major Adani Wilmar Ltd on Wednesday reported a 15 per cent increase in its consolidated profit to Rs 246.11 crore for the third quarter ended December 2022, on higher revenue. Its net profit was Rs 211.41 crore in the year-ago period. The total income rose to Rs 15,515.55 crore in the third quarter [...]
Shree Cement Ltd on Wednesday reported a 41.61 per cent decline in consolidated net profit to Rs 281.83 crore in the third quarter that ended December 2022 due to an increase in input cost. The company posted a net profit of Rs 482.70 crore in the October-December quarter last fiscal, Shree Cement said in a [...]
