Domestic equity market started on a positive note on Tuesday, with Sensex rising 109 points and Nifty trading with moderate gains amid positive cues from other Asian markets. Investors in Asia seemed to be more positive even as the US market declined on Monday after strong data on jobs last week renewed worries about Federal [...]
Steel major Tata Steel on Monday reported a consolidated net loss of Rs 2,501.95 crore in the quarter ended on December 31, 2022, on account of higher expenses. The company had posted a net profit of Rs 9,598.16 crore in the year-ago period, according to a regulatory filing. Total income on a consolidated basis fell [...]
The government has received various representations to merge RINL with SAIL or NMDC, Parliament was informed on Monday. At present, Rashtriya Ispat Nigam Ltd (RINL) has a strength of 4,875 executives and 10,005 non-executive employees, Minister of State (MoS) for Steel Faggan Singh Kulaste said in a written reply to Rajya Sabha. To a question [...]
Indian equity indices ended the week’s first trading session in the red territory. The BSE Sensex fell 334.98 points or 0.55% at end at 60,506.90 levels and NSE Nifty 50 closed 89.45 points or 0.50%lower at 17,764.60 levels. As the market sentiment remain weak, here are 4 fundamentally sound stocks trading at a discount of [...]
Tata Sons chairman N Chandrasekharan will head the Maharashtra state Economic Advisory Council (EAC) which also includes Karan Adani and Anant Ambani, a government resolution said on Monday. Karan Adani, the CEO of Adani Ports and SEZ Ltd, is the son of Gautam Adani, who is battling allegations of stock manipulation and fraud in Adani [...]
Hitachi Energy India on Monday reported a more than 92 per cent decline in its net profit to Rs 4.6 crore in the December 2022 quarter due to lower revenues. The net profit of the company was Rs 61.7 crore in the quarter ended December 2021, a BSE filing showed. Its total income also dipped [...]
Comfort Fincap Limited is an NBFC (Non-Banking Financial Company) which is primarily focused on providing inter-corporate loans, personal loans, loans against shares and so on. The company has positioned itself between the organized banking sector and local money lenders, offering customers competitive, flexible and timely lending services. In a recent exchange filing, Comfort Fincap Limited [...]
Bandhan Bank on Monday said it has hiked interest rates on fixed deposits by 25-50 basis points based on the maturity period. The revised FD rates are applicable for retail deposits of up to Rs 2 crore, and are effective from February 6, the Kolkata-based lender said in a release. This is the bank's second [...]
The enforcement directorate has attached Rs 936 crore proceeds of crime and arrested 5 five persons related to crypto currency fraud, Parliament was informed on Monday. Further, under the Foreign Exchange Management Act, 1999 (FEMA), assets amounting to Rs 289.28 crore have been seized and one show cause notice to cryptocurrency exchange Zanmai Labs Pvt [...]
Adani Transmission Ltd (ATL) on Monday posted a nearly 73 per cent jump in its consolidated net profit to Rs 478 crore in the December quarter of 2022-23 on the back of a one-time income gain and higher revenues. The consolidated net profit of the company was Rs 277 crore in the quarter ended on [...]
The growth momentum of Indian IT services industry is likely to slow down in the near to mid term as macroeconomic headwinds trigger lower discretionary IT spends, ICRA said on Monday. Ratings agency ICRA sees lower hiring by the IT service companies in the near term given that excess capacities were added in FY2022 and [...]
Indian Energy Exchange on Monday said that it has clocked a total trade volume of 8,639 million units (MU) in January 2023, highest in the current financial year so far. However, the data showed that the trade volume in January this year was lower than 8,652 MU recorded in the same month last year. The [...]
On-demand convenience delivery platform Swiggy on Monday announced appointments of three independent directors, including TAFE Chairman and MD Mallika Srinivasan, on its board. The other two independent directors are Shailesh Haribhakti and Associates Chairman Shailesh Haribhakti and Delhivery Managing Director and CEO Sahil Barua, the company said in a statement. These are the first independent [...]
Benchmark Sensex dropped 334 points on Monday due to intense selling pressure in metal and power stocks as FII outflows dampened investor sentiment. Besides, a sharp decline in the rupee against the US dollar also put pressure on domestic equities, traders said. After losing nearly 500 points, the 30-share BSE index recovered some lost ground [...]
Chief Economic Advisor V Anantha Nageswaran on Monday said the allocation for the Mahatma Gandhi National Rural Employment Scheme (MGNREGS) has been reduced in the Budget for 2023-24 as more funds have been allocated towards Pradhan Mantri Aawas Yojana and Jal Jeevan Mission, which are expected to provide jobs to the same set of workers [...]
State Bank of India, the country’s largest public sector bank reported its highest-ever quarterly net profit. In Q3, their standalone net profit stood at Rs 14,205 Crore, a 68 percent increase Year on Year from Rs 8,432 Crore. Their Net Interest Income (NII) stood at Rs 38,069 Crore which jumped 24 percent YoY from Rs [...]
Capital markets regulator Sebi has listed the basic dos and don'ts relating to green debt securities to address 'greenwashing' related risks. The generally accepted definition of 'greenwashing' is, 'making false, misleading, unsubstantiated, or otherwise incomplete claims about sustainability of a product, service, or business operation'. To address the concerns of market participants regarding greenwashing, Sebi [...]
Procter & Gamble Health, one of the leading mid-sized pharmaceutical companies in India posted impressive earnings for the quarter that ended on December 31, 2022. Following the announcement, its shares zoomed 15.61% on Monday’s early trades to reach an intraday high of ₹ 4743.00 per share. Its shares were trading at ₹ 4,628.00 apiece at [...]
Automobile retail sales in India rose 14 per cent in January, as compared to the same month last year, on the back of robust registrations across passenger vehicles, two-wheelers and tractors, dealers' body Federation of Automobile Dealers Associations said on Monday. Total sales across categories last month rose to 18,26,669 units, as compared to 16,08,505 [...]
Varun Beverages Ltd, PepsiCo's largest franchise bottler, on Monday reported a more than twofold jump in its consolidated net profit to Rs 81.52 crore for the quarter that ended December 31, 2022, led by volume growth and improved net realizations. The company, which follows the calendar year as its financial year, posted a net profit [...]
