Shares of Adani Group firms continued to remain weak for the seventh day running on Friday amid a host of negative events surrounding the companies. The stock of Adani Enterprises tumbled 20 per cent to Rs 1,173.55 -- its one-year low -- on the BSE. Shares of Adani Ports tanked 10 per cent, Adani Transmission [...]
Specialty Chemical manufacturer Vinati Organics shares were trading at Rs. 1878.50 apiece at 11:20 AM on Friday. This gives the company a market capitalization of Rs. 19,552 crore. Furthermore, it is one of the few large companies having a promoter shareholding of as much as 74%. Vinati Organics Ltd. is a renowned producer of specialty [...]
SIS Ltd on Thursday reported a 3 per cent increase in net profit to Rs 103.4 crore for the third quarter ended December 2022. The company -- which is into facility management, security and cash logistics -- had posted a net profit of Rs 100.6 crore in the corresponding quarter of 2021-22. On a sequential [...]
America’s National Pecan Federation has welcomed the annual budgetary proposal of Union Finance Minister Nirmala Sitharaman to reduce the import duty on pecan by 70 per cent, a move it said would benefit thousands of farmers in the country, especially in Georgia. “This is great news for the pecan industry,” Larry Don Womack, chairman of [...]
Apple CEO Tim Cook has said he is “very bullish on India” and described the country as a major focus and "hugely exciting market” where the technology giant is putting a “significant amount of energy” through investments, retail and online presence. Apple on Thursday reported revenue of USD 117.2 billion for the December quarter and [...]
S&P Dow Jones has said it will remove Adani Group's flagship firm Adani Enterprises from sustainability indices with effect from February 7 following a media and stakeholder analysis triggered by allegations of accounting fraud. The move comes amid leading stock exchanges BSE and NSE putting three Adani Group companies -- Adani Enterprises, Adani Ports and Special Economic [...]
Equity benchmarks climbed in initial trade on Friday amid a strong rally in the US markets and buying in banking counters. The 30-share BSE benchmark Sensex rose by 481.94 points to 60,414.18. The broader NSE Nifty advanced 118.05 points to 17,728.45. From the Sensex pack, IndusInd Bank, Titan, Bajaj Finance, HDFC Bank, Bajaj Finserv, ICICI [...]
Hindustan Construction Company (HCC) on Thursday reported a 9.22 per cent decline in its December quarter net profit at Rs 25.19 crore. The company had clocked a net profit of Rs 27.75 crore in the year-ago period, according to a BSE filing. Its total income during October-December 2022 marginally rose to Rs 1,167.13 crore, compared with Rs 1,169.63 [...]
Allcargo Logistics on Thursday said it has concluded the deal to sell a part of its logistics parks business to global private equity giant Blackstone, making the company cash positive. Allcargo Logistics said this is in line with the agreement signed earlier, which has now been consummated with the signing of the share purchase agreement [...]
On Thursday’s trading session, NIFTY closed at 5.9 points (0.033 %) lower than its opening value of 17,517.10 points. This comes one day after the center’s announcement of the Union Budget. Sensex closed in green, gaining 224.16 points (0.38 %) amid volatility, at 59,932.24 points. Today, these stocks hit the upper circuit in the trading [...]
Apollo Tyres on Thursday said its consolidated net profit increased 30 per cent to Rs 292 crore for the December quarter, aided by robust sales in the domestic market. The company had reported a net profit of Rs 224 crore in the year-ago period. Revenue from operations rose 13 per cent to Rs 6,423 crore, [...]
With an aim to boost business activities in the international financial hub GIFT IFSC, the government in the Budget paved the way for IFSC units to issue participatory notes or offshore derivative instruments to foreign investors. Participatory notes (P-notes) are issued by registered foreign Portfolio Investors (FPIs) to overseas investors who wish [...]
Information technology solutions provider Redington Ltd has registered standalone net profit at Rs 141.38 crore for the quarter ending December 31, 2022, the company said on Thursday. The city-based company had registered standalone net at Rs 137.45 crore during corresponding period of last year. For the nine month period ending December 31, 2022 the standalone [...]
Tata Consumer Products Ltd (TCPL) on Thursday reported a 25.63 per cent increase in consolidated net profit at Rs 364.43 crore for the December quarter. The company had posted a net profit of Rs 290.07 crore for the October-September period a year ago, TCPL, earlier known as Tata Global Beverages Ltd, said in a regulatory [...]
Mahindra and Mahindra on Thursday said its electric vehicle unit has merged with it. Mahindra Electric Mobility Ltd (MEML) is now officially merged into the parent company, Mahindra and Mahindra Ltd (M&M), the auto major said in a statement. The company's Board had undertaken that MEML would merge into M&M with effect from April 1, [...]
Man Infraconstruction on Thursday reported a 126.3 per cent jump in consolidated profit at Rs 90.60 crore for the quarter ended December 31, 2022. The company had posted consolidated profit of Rs 40.02 crore in the year-ago period, Man Infraconstruction said in a filing to BSE. The consolidated revenue from operations in the October-December period [...]
Auto components maker Sundram Fasteners Ltd has registered standalone profit for the October-December 2022 quarter at Rs 106.13 crore, the company said on Thursday. The city-based firm had registered standalone net at Rs 103.34 crore during the corresponding quarter of previous year. For the nine-month period ending December 31, 2022, the standalone net surged to [...]
Equity markets witnessed mixed trends on Thursday, with the Sensex climbing over 224 points, while the NSE Nifty dipped almost 6 points in a see-saw session. The 30-share BSE benchmark Sensex advanced 224.16 points or 0.38 per cent to settle at 59,932.24. During the day, it hit a high of 60,007.67 and a low of [...]
While performing a fundamental analysis of stocks, it is important to look at the borrowings of the company. A debt-free company is generally categorized as a less risky investment option for its investors as they are less likely to go bankrupt. Along with it, the earnings of the company should also be considered to learn [...]
The shares of Adani Group stocks extended their bloodbath on Thursday as well with various stocks hitting their lower circuit limits again. The shares of the group’s flagship company Adani Enterprises fell as much as 30% to hit their 52-week low of Rs 1,494.75 per share. Similarly Adani Power (down 5% to Rs 202.05), Adani [...]
