Tata Power on Friday said its consolidated net profit almost doubled to Rs 1,052.14 crore in the quarter ended December 2022 compared to a year ago, mainly due to higher revenues. The consolidated net profit of the company was Rs 551.89 crore in the quarter ended on December 31, 2021, a BSE filing showed. Total [...]
InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Friday reported a steep rise in profit at Rs 1,422.6 crore in the three months ended December 2022, primarily fuelled by robust demand for air travel. The company had a Profit After Tax (PAT) of Rs 129.8 crore in the same period a year [...]
Equity benchmarks rallied over 1 per cent on Friday due to heavy buying in banking and financial counters amid mixed trend in the global markets. The 30-share BSE benchmark Sensex zoomed 909.64 points or 1.52 per cent to settle at 60,841.88. During the day, it jumped 973.1 points or 1.62 per cent to 60,905.34. The [...]
NITI Aayog CEO Parameswaran Iyer on Friday described the Budget 2023-24 as 'very comprehensive and balanced' which will promote growth with inclusion. He also observed that the Budget continues all the reforms and other social welfare programmes undertaken by the government over the past few years. Iyer further said the Budget has something for all, [...]
Petrol, diesel and liquor are to cost more and motor vehicle tax and fair price value of land to go up in Kerala as the state government acted tough to mobilise additional revenue to carry forward their social security schemes and development programmes in the budget presented here on Friday. Despite wide expectations, the social [...]
Kansai Nerolac Paints Ltd on Friday reported a 13 per cent decline in consolidated net profit at Rs 108.97 crore in the December quarter, impacted by higher expenses. The company had posted a consolidated net profit of Rs 125.32 crore in the year-ago period, it said in a regulatory filing. Consolidated revenue from operations during [...]
Indian equity markets opened higher on Friday, bucking the mixed global cues. The Sensex jumped 406.11 points, or 0.68 per cent, at 60,338.35, whereas NSE's Nifty50 rallied 90.20 points, or 0.51 per cent, at 17,700.60. Two Tata Group companies— Titan and Tata Consumer Products had declared their results and they will be key stocks to [...]
The stock market turmoil created by rout in Adani group shares is a "storm in a tea cup" from a macroeconomic point of view, finance secretary T V Somanathan said on Friday, emphasing that India's public financial system is robust. The senior most bureaucrat in the finance ministry also said that movements in the stock [...]
Mangaluru-headquartered private sector lender Karnataka Bank’s shares appreciated to the tune of 9.94% to reach an intraday high of ₹ 152.00 apiece on the National Stock Exchange (NSE) after it registered a growth of 105% in its net profit. Its shares were trading at ₹ 147.00 apiece at 12:30 PM on Friday. Karnataka Bank reported [...]
Pakistan's central bank said on Friday that its foreign exchange reserves have dropped by 16.1 per cent to USD 3.09 billion at the end of the last fiscal week, the lowest in nearly 10 years. Financial analysts said that the foreign exchange reserves held by the State Bank of Pakistan would cover just around three [...]
The government has set up a task force under the aegis of Fertiliser Association of India to find out ways to improve the quality of Single Super Phosphate (SSP) fertiliser and promote its use as an alternative to Di-ammonium Phosphate (DAP), Parliament was informed on Friday. In a written reply to the Lok Sabha, Minister [...]
Bank of Baroda (BoB) on Friday reported 75 per cent surge in standalone net profit at Rs 3,853 crore for the third quarter ended December 31, 2022 as bad loans declined. The state-owned bank had earned a net profit of Rs 2,197 crore in the year-ago period. Total income during October-December 2022 increased to Rs [...]
Fitch Ratings on Friday said there is no immediate impact on the ratings of Adani entities and their securities following a short-seller report alleging malpractices at Adani group. In a statement, the rating agency said it expects no material changes to its forecast cash flow. "There are also no near-term significant offshore bond maturities," it [...]
Zydus Lifesciences Ltd on Friday reported a 24.48 per cent rise in consolidated net profit at Rs 622.9 crore for the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 500.4 crore in the same period last fiscal, Zydus Lifesciences Ltd said in a regulatory filing. Consolidated total [...]
The board of Directors of Medico Remedies Ltd, a manufacturer & exporter of pharmaceutical Drugs, has approved a Stock Split of equity shares of the Company. In the meeting held on February 2nd, 2023 the board declared that it will split the shares in the ratio of 5:1. This means that One equity share of [...]
Likhitha Infrastructure Limited has received an order worth Rs.129.63 Crores from GAIL (India) Limited, for the Laying of the Cross-Country Pipeline along with associated facilities. The project is said to be completed within the next 14 months. Likhitha Infrastructure is engaged in the business of Pipeline Laying providing comprehensive erection, testing, and commissioning of Oil [...]
The India Cements Ltd on Friday reported a consolidated net profit of Rs 133.29 crore for December quarter 2022-23, helped by gains from sales of its subsidiary Springway Mining Pvt Ltd (SMPL). The company had posted a net profit of Rs 16.24 crore in the year-ago period, it said in a regulatory filing. Revenue from [...]
Steel maker Kamdhenu Ltd has posted an 82 per cent growth in its net profit during the December quarter at Rs 12.02 crore, on the back of increased revenues. The company had recorded Rs 6.6 crore net profit during October-December period of 2021-22 fiscal, Kamdhenu Ltd said in a statement on Friday. Its revenue from [...]
LPG Importer and Handler Aegis Logistics’s shares zoomed 8.4% on Friday’s early trades to reach an intraday high of ₹ 388.80 apiece on the National Stock Exchange (NSE) after the company reported robust earnings. Its shares were trading at ₹ 338.55 apiece at 11:00 AM. The company reported a 71.88% increase in its consolidated revenue [...]
A powerful Republican Party Senator has urged the Biden administration to speak to the Indian government about the subsidies it gives to its wheat and rice growing farmers, which he claimed is against the norms of the World Trade Organization. “Rice and wheat farmers throughout the country are seriously impacted by India’s blatant WTO violations,” [...]
