TD Power Systems on Wednesday posted nearly three per cent rise in its consolidated net profit at Rs 20.07 crore in the quarter ended December 2022. The consolidated net profit of the company was Rs 19.53 crore in the corresponding quarter that ended on December 31, 2021, showed a BSE filing. Total income rose to [...]
Shares of Aditya Birla Fashion and Retail Ltd (ABFRL) fell nearly 2 per cent in late morning trade on Wednesday after the fashion retailer reported decline in net profit for the third quarter. In late morning trade, shares of the firm fell 1.63 per cent to Rs 247.55 apiece on the NSE. On the BSE, [...]
State-owned KIOCL has trimmed its net loss to Rs 33.88 crore during the October-December quarter of FY23, helped by reduced expenses. The company had posted Rs 86.68 crore net loss during the same period of the preceding fiscal, KIOCL said in a regulatory filing. KIOCL has also reduced its expenses to Rs 340.99 crore from [...]
India’s largest two-wheeler maker, Hero MotoCorp Limited, saw its shares decline by 2 percent till the afternoon on Wednesday to trade at Rs 2,605 levels. The scrip fell after the company reported muted sales in Q3. On a consolidated basis, Hero MotoCorp Limited reported a total revenue of Rs 8,118.33 which grew sideways on a [...]
Reserve Bank Governor Shaktikanta Das on Wednesday said the strength, size and resilience of the Indian banking system now are much stronger and larger "to be affected by a case like this" in reference to the developments at Adani Group. Concerns have been raised in various quarters about Adani Group companies, including about the exposure [...]
The UK government has offered a counter-package to Tata Steel against its proposal seeking a financial package to execute its decarbonisation plans for its plant in Port Talbot, its global CEO and MD TV Narendran has said. However, there is a big gap between what Tata Steel had asked for and what the British government [...]
Cement stocks were trading in the green on Wednesday, a day after Finance Minister Nirmala Sitharaman indicated that the government could consider a reduction in the goods and services tax on cement. Cement stocks like India Cements (up 1.99%), UltraTech Cement (up 1.87%) Ramco Cements(up 1.53%) Heidelberg Cement India (up 1.97%) were in the green [...]
The Indian equity indices opened in green on Wednesday, ahead of the RBI MPC meet outcome. The NSE Nifty 50 rose 66.85 points or 0.38% to start at 17,788.35 while the BSE Sensex climbed 220.75 points or 0.37% to begin at 60,506.79 levels. As markets remain in green, here are 2 Mahindra group stocks that [...]
The shares of Pearl Global Industries Limited opened 15 percent higher at Rs 413.60 levels on Wednesday as against its previous close of Rs 359. The scrip jumped after the company posted robust quarterly results. In Q3FY23, the company reported total revenue from operations of Rs 717 Crore, a jump of 2 percent Year on [...]
Shares of most of the Adani group firms gained in late morning trade on Wednesday, with flagship company Adani Enterprises rising 13 per cent. As many as eight Adani Group firms were trading in the positive territory while two were in the red. On the BSE, the scrip of Adani Enterprises zoomed 13.07 per cent [...]
Birla Corporation Limited, a flagship company of the M P Birla group, started Wednesday’s session in the green at Rs 908 levels. The company is primarily engaged in the manufacturing of cement as its core business activity. It has a significant presence in the jute goods industry as well. In Q3FY23, the company reported a [...]
The Reserve Bank on Wednesday projected retail inflation to ease to 5.3 per cent in next fiscal from 6.5 per cent this year on assumptions of lower imported inflation, even though core inflation remains sticky. The RBI's inflation outlook for current fiscal has improved from 6.8 per cent projected earlier, to 6.5 per cent, on [...]
State-owned hydro power giant NHPC has posted a 12.59 per cent decline in its consolidated net profit to Rs 775.99 crore for the December 2022 quarter, mainly due to higher expenses. The consolidated net profit of the company was Rs 887.76 crore in the quarter ended December 2021, showed a BSE filing on Tuesday. Its [...]
Fintech firms LazyPay, IndiaBulls Home Loans and Kissht are among the list of blocked websites issued by the Ministry of Electronics and IT, according to sources. The government has blocked 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service. As per the list, the Ministry of [...]
The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the [...]
The RBI on Tuesday projected India's economic growth to slow down to 6.4 per cent in FY24 from 7 per cent in the current fiscal, citing risks from geo-political tension and tightening global financial condition. Announcing the bi-monthly monetary policy, Reserve Bank of India Governor Shaktikanta Das said the RBI's internal survey says manufacturing, services [...]
Shares rose in early trade on Wednesday, with the benchmark Sensex surging 360.77 points ahead of the RBI monetary policy decision and positive sentiments spurred by US Federal Reserve comments on inflation. Asian markets witnessed mixed trends on Wednesday. The 30-share BSE Sensex jumped 360.77 points or 0.60 per cent to 60,646.81 points, while the [...]
GVK Group Vice Chairman Sanjay Reddy on Tuesday said there was absolutely no pressure from the Adani Group or anyone else to sell the Mumbai airport. His comments come on a day when Congress leader Rahul Gandhi alleged in Lok Sabha that "Mumbai airport, was taken away from GVK using agencies such as the CBI [...]
Lauding the private sector contribution in defence manufacturing, Chief of Defence Staff (CDS) General Anil Chauhan on Tuesday said India has the potential to emerge as a superpower in making military equipment and has displayed wherewithal to develop big and complex platforms. Referring to the inauguration of Hindustan Aeronautics Ltd's new helicopter factory -- India's [...]
Moody's Investor Service on Tuesday said banks' exposures to Adani are not large enough to affect their credit quality materially. "While we estimate that the exposures are larger for public sector banks than for private sector banks, they are smaller than 1 per cent of total loans for most banks," it said. "Risks for banks [...]
