IT company Tech Mahindra on Monday posted a 5 per cent decline in the consolidated profit after tax at Rs 1,297 crore in the December quarter. The company had registered profit after tax of Rs 1,378.2 crore in the year-ago period. "We are witnessing moderation in growth given the tough macro economic environment. "We will [...]
Nippon Life India Asset Management Ltd (NAM India) on Monday reported an 18 per cent increase in the profit after tax (PAT) to Rs 205 crore for three months ended December 2022. In comparison, the company had a PAT of Rs 174 crore in the year-ago period, NAM India said in a statement. Also, the [...]
Orient Green Power Company Ltd (OGPL) on Monday posted a 55 per cent rise in its consolidated net profit at Rs 9.74 crore in the quarter ended December 2022. The company's consolidated net profit stood at Rs 6.28 crore in the year-ago period, according to a regulatory filing. However, total income was at Rs 57.33 [...]
Punjab National Bank (PNB) which has about Rs 7,000 crore exposure in Adani Group entities on Monday said it is keeping a close watch on situation developing following the damning disclosures by a US short seller. The state-owned bank has total exposure of about Rs 7,000 crore. Out of that Rs 2,500 crore is related [...]
Telecom players have started rolling out 5G services in select pockets but backhaul infrastructure will cost Rs 3 lakh crore over the next 4-5 years, according to ICRA. ICRA noted consistent "healthy improvement" in operating metrics of telcos but added that debt levels continue to remain high and seen at around Rs 6.3 lakh crore [...]
Unsold housing stocks dropped 10 per cent to 4,61,600 units across nine major cities at the end of the December on better sales, PropEquity said on Monday. According to its data, unsold housing inventories stood at 5,12,526 units at the end of the September quarter across these nine cities. "Despite many challenges ...home sales strongly [...]
Storage battery maker and distributor Sunlit Power has collaborated with Lucas TVS under which it will supply 50,000 electric vehicle motors and controllers manufactured by TVS group company to various industries, a release said on Monday. It will include motors with 1kw-15kw capacity for various applications including those for two-wheelers, high-speed passenger autos, and pick-up [...]
Dolly Khanna, a Chennai-based investor is known for investing in lesser-known stocks that tend to outperform the market. In fact, many of them have generated multibagger returns. Here are a few undervalued multibagger stocks held by the ace investor: The price to earnings ratio of these stocks is lower than their industry average, indicating that [...]
The shares of Vedanta Limited traded flat on Monday’s session and ended the day at Rs 322 levels. The shares ended in green even after the company posted a dip in its quarterly earnings. The company reported revenue from operations of Rs 33,691 crore in Q3FY23, which grew sideways as compared to Rs 33,697 crore [...]
Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday reported a 24.2 per cent rise in consolidated net profit at Rs 2,552.92 crore for the quarter ended December 31, 2022 on the back of higher revenue from operations. The company had posted consolidated net profit of Rs 2,054.74 crore in the year-ago period, L&T [...]
Benchmark BSE Sensex and Nifty closed higher in a highly volatile trade on Monday, riding on the back of a recovery in IT, oil and financial stocks after a two-day fall. The 30-share Sensex recovered 169.51 points or 0.29 per cent to settle at 59,500.41. During the day, it rose by 313.34 points or 0.52 [...]
Prime Minister Benjamin Netanyahu will attend a ceremony here on Tuesday to celebrate the successful entry of the Adani Group in Israel through its acquisition of the Haifa port, which is being seen as a "strategic purchase" and probably the biggest foreign investment in this country in any sector. A consortium of Adani Ports and [...]
Hi-Tech Pipes Limited, saw its shares zoom by more than 7 percent at Rs 967 levels on Monday's trading session. The stock zoomed on account of strong Q3 numbers coupled with a corporate action announced by the company. In the December quarter of FY23, the company reported revenue from operations that stood at Rs 569 [...]
Telangana Minister for IT and Industries K T Rama Rao on Monday inaugurated FMCG major ITC's Rs 450 crore state-of-the-art Integrated Food Manufacturing and Logistics Facility at Medak. The inauguration was done in the presence of Sanjiv Puri, Chairman and Managing Director, ITC Ltd, a press release form ITC said. Spread over nearly 59 acres [...]
The first G20 Energy Transition Working Group(ETWG) meeting under India’s presidency will be organised in Bengaluru from February 5-7 wherein nine special invitee nations including Spain, the Netherlands and Singapore will take part. The meeting will have over 150 participants including G20 member countries, nine special invitee guest nations – Bangladesh, Egypt, Mauritius, the Netherlands, [...]
Senior executives in India are expected to receive an average 9.1 per cent increase in their salaries this year, up from 8.9 per cent in 2022. According to leading global professional services firm Aon plc, the average CEO compensation was Rs 8.4 crore, and it has increased 21 per cent in the last four years, [...]
Punjab National Bank (PNB) on Monday reported a 44 per cent decline in standalone net profit at Rs 629 crore in the third quarter ended December. The state-owned bank had earned a net profit of Rs 1,127 crore in the year-ago period. However, total income during October-December 2022 increased to Rs 25,722 crore as against [...]
Retail commodity packages containing more than one pack, including gift and multi-piece packs, are required to mention all mandatory declarations including MRP, on the outer pack, according to the Consumer Affairs Ministry. In the latest directive, the ministry said, "It is observed that the mandatory information is not declared on a retail package containing more [...]
The Board of Directors of Hinduja Global Solutions Limited has approved the Buyback of shares of the company in the meeting held on January 27th, 2023. The total buyback is worth Rs 1,020 Crores. On Monday, the shares of Hinduja were trading at Rs 1,300 levels. The directors of the company have announced the buyback [...]
More than nine lakh vehicles, owned by central and state governments, transport corporations and public sector undertakings, that are older than 15 years will go off the road from April 1 and new vehicles will replace them, Union minister Nitin Gadkari said on Monday. Addressing an event organised by industry body FICCI, Gadkari said the [...]
