The shares of Tata Steel Limited declined by more than 5.5 percent and were trading at Rs 111 levels till the afternoon on Tuesday. The tata group stock fell after it reported a loss in the third quarter of FY23. In Q3FY23, the company reported a total revenue of Rs 57,083.56 Crore which declined by [...]
Power Mech Projects on Tuesday posted over 54 per cent rise in its consolidated net profit at Rs 50.61 crore in December quarter compared to a year ago. The consolidated net profit of the company was Rs 32.75 crore in the quarter ended on December 31, 2021, showed a BSE filing. Total income also rose [...]
More than 3,600 firms have been prosecuted for manufacturing, sale and illegal import of sub-standard pesticides in the last five years and 137 companies were convicted by courts after they were found to be guilty, the government said on Tuesday. "In last 5 years (2017-18 to 2021-22), Directorate of Plant Protection, Quarantine & Storage under [...]
CG Power and Industrial Solutions Limited gained 4 percent till the afternoon on Tuesday and reached a 52-week high of Rs 319.15. In the past month, the stock has jumped by 10 percent. In Q3FY23, their consolidated revenue stood at Rs 1,775.44 Crore which increased 14 percent YoY from Rs 1,775.44 Crore and 5 percent [...]
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Adani Ports and Special Economic Zone (APSEZ) on Tuesday reported a 12.94 per cent decline in consolidated profit to Rs 1,336.51 crore for the third quarter ended December 2022. The country's largest integrated logistics player had clocked a consolidated profit of Rs 1,535.28 crore a year ago, according to a regulatory filing. Its total consolidated [...]
Hindenburg Research, an American short-selling firm, said that it held short positions in the Adani group through US-traded bonds and non-Indian-traded derivative instruments. It accused the group of participating in brazen stock manipulation and accounting fraud schemes over decades, after which the share price of all the listed companies tumbled to the tune of 50%. [...]
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One97 Communications parent company of Paytm saw its shares gain more than 10 percent for the second session straight on Tuesday as it was trading at around Rs 612 levels. On Monday the scrip closed 5 percent higher. The buying revived after the company posted its Q3 results. In Q3FY23, Paytm reported a total revenue [...]
A Motilal Oswal arm on Tuesday announced a Rs 400 crore investment in Rajkot-based hygiene products maker Pan Healthcare for a minority stake. The company established in 2016, which manufactures diapers and sanitary napkins, will use the funds for brand building and ramping up distribution, its promoter Chirag Pan said in a statement. Funds managed [...]
One of the largest franchisees of PepsiCo, Varun Beverages’ shares zoomed 6.4% after the company reported a 150% increase in its net profit year-on-year (YoY). The company’s shares reached an intraday high of ₹ 1,300.00 apiece and were trading at ₹ 1,295.00 apiece at 11:28 AM on the National Stock Exchange (NSE). The beverage manufacturer [...]
S&P Global Ratings on Tuesday said core inflation in India has been declining sequentially, and an elevated 6.25 per cent policy rate limits the need for further rate hikes. The Reserve Bank has increased the short-term lending rate by 225 basis points since May last year to contain inflation, mostly driven by external factors, especially [...]
The shares of Jyoti Resins and Adhesives Limited hit an upper circuit of 5 percent at Rs 1,170 levels in the early hours of Tuesday. The scrip gained ahead of the board meeting that is scheduled on February 10th, 2023 to consider and approve the quarterly results of the company. In Q2FY23, the company reported [...]
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Financial technology firm Infibeam Avenues reported a 46 per cent increase in consolidated profit after tax to Rs 35 crore in the third quarter that ended December 31, 2022, the company said on Monday. Infibeam had posted a profit after tax of Rs 24 crore a year ago, a statement said. The consolidated income from [...]
Banks will face margin pressure next fiscal as they increase the deposit rates to attract funds to support sustained high loan growth, and the same will fall by 10 basis points to 3.45 per cent, a global rating agency said on Monday. "We expect the domestic banking sector's average net interest margin to slightly contract [...]
Digital financial services firm One97 Communications, which operates under the Paytm brand, expects to sustain operational profit growth, company's founder and CEO Vijay Shekhar Sharma said on Monday. Paytm's EBITDA (earnings before interest, taxes, depreciation, and amortization), an indicator of operational profit, before ESOP cost margin improved to Rs 31 crore during the third quarter [...]
Cement maker Nuvoco Vistas Corp Ltd on Monday reported a narrowing down of its consolidated net loss to Rs 75.29 crore in the December quarter of FY2022-23. The company had reported a net loss of Rs 85.54 crore in the October-December period a year ago, Nuvoco Vistas Corp said in a regulatory filing. Its revenue [...]
Reliance Capital lenders have approached the National Company Law Appellate Tribunal (NCLAT) to seek a second round of financial bids for the debt-ridden firm, presently going through the insolvency resolution process. Vistra ITCL (India) Ltd, one of the members of the Committee of Creditors of Reliance Capital has filed an appeal before the appellate tribunal. [...]
India's largest oil and gas producer ONGC will this year reverse years of decline in production and gradually raise output thereafter, as it invests billions of dollars to produce from newer discoveries, a top company official said. Oil and Natural Gas Corporation (ONGC) in fiscal 2021-22 produced 21.707 million tonne of crude oil, which is [...]
