Equity benchmarks Sensex and Nifty fell in early trade on Friday dragged down by banking shares and Reliance Industries along with continuous foreign fund outflows. The 30-share BSE benchmark tanked 578.19 points to 59,626.87 in initial trade. The broader NSE Nifty fell 144.7 points to 17,747.25. From the Sensex pack, ICICI Bank, HDFC, Axis Bank, [...]
FMCG firm Jyothy Labs Ltd has posted a 77.25 per cent jump in its consolidated net profit at Rs 67.39 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 38.02 crore in the same period last fiscal, it said in a regulatory filing. Consolidated revenue [...]
Blue Dart Express on Wednesday reported a 28 per cent dip in standalone profit after tax (PAT) to Rs 86.9 crore in the December 2022 quarter. The company had posted a standalone PAT of Rs 122.20 crore in the third quarter of the previous fiscal, the company said in a statement. Its revenue from operations [...]
Amara Raja Batteries on Wednesday said its consolidated net profit increased by 53 per cent to Rs 222 crore for the third quarter ended December 2022. The company had reported a net profit of Rs 145 crore in the October-December period of last fiscal. Total income rose to Rs 2,664 crore in the third quarter [...]
Air India has offered around 98 crore shares of the company to its permanent employees as part of a stock option scheme. The shares are also being offered to the permanent staff of Air India Express as part of the Employees' Share Benefit (ESB) Scheme 2022, according to a document. The Tata group took over [...]
Indian stock markets are embarking on a shorter settlement cycle or T+1 regime for the final list of large stocks from Friday, a move that will help reduce margin requirements for clients and boost retail investment. T+1 (trade plus one) means that market trade-related settlements will need to be cleared within one day of the [...]
Asia's richest man Gautam Adani's group is eyeing petrochemical and mining projects in Azerbaijan as the ports-to-energy conglomerate looks to expand the business beyond Indian shores. Adani met Azerbaijan President Ilham Aliyev in Davos last week, according to a statement from the office of the President of Azerbaijan. "During the conversation, the parties discussed Azerbaijan's [...]
Indraprastha Gas Ltd, the firm that retails CNG and piped cooking gas in the national capital and other cities, reported 11 per cent drop in third quarter net profit after it held retail prices despite rise in input cost. Consolidated net profit of Rs 334.06 crore in October-December 2022 is compared with Rs 374.76 crore [...]
The critical illness rider: what is it? Critical illness, an uncommon occurrence, blocks our fantasies and depletes our reserve funds. The number of common and dangerous illnesses is rising as a result of lifestyle changes, adding to the burden of expensive treatment. Additionally, a basic illness may result in a pay cut and a change [...]
Electric mobility company Olectra Greentech on Wednesday reported a 4 per cent increase in its net profit to Rs 13 crore for the December quarter, mainly on the back of higher revenues. Olectra had reported a net profit of Rs 12.5 crore in the quarter ended December 31, 2021, the company said in a statement. [...]
Non-banking finance company TVS Credit Services Ltd has reported a net profit at Rs 97.97 crore for October-December 2022, the company said on Wednesday. The city-based company, a part of the diversified conglomerate TVS Group, reported the net profit at Rs 55.88 crore during corresponding quarter last year. The net profit for the nine-month period [...]
Voltas Limited, a Tata group stock, opened at Rs 777.90 on Wednesday only to decline by more than 3 percent during the day to reach a new 52-week low of Rs 751.80. The scrip ended the session at Rs 756. Voltas Limited, a Tata group company, is engaged in the business of air conditioning, refrigeration, [...]
Tata Motors on Wednesday reported a consolidated net profit of Rs 3,043 crore in the third quarter ended December 31, 2022, on account of robust sales across markets. The Mumbai-based auto major had reported a net loss of Rs 1,451 crore in the October-December quarter of the previous fiscal. Total income increased to Rs 88,489 [...]
Dr Reddy's Laboratories on Wednesday reported a 77 per cent increase in its consolidated net profit at Rs 1,247 crore in the third quarter ended December 31, 2022. The drug firm had reported a net profit of Rs 706 crore in the October-December period of the previous fiscal. Revenue from operations rose to Rs 6,770 [...]
Ahead of the ₹ 20,000 crores follow-on-public offer, the share prices of Adani Group companies suffered deep cuts. They were trading in the red, following a negative report by Hindenburg Research, an American short-selling firm, saying that it held short positions in the Indian group through US-traded bonds and non-Indian-traded derivative instruments. The shares of [...]
Drug major Cipla on Wednesday reported a 7 per cent increase in its consolidated net profit to Rs 808 crore for the third quarter ended December 2022, aided by robust sales. The Mumbai-based drug maker had reported a net profit of Rs 757 crore for the October-December period of the last fiscal. Its total revenue [...]
Farmers' body FAIFA on Wednesday requested the government to take measures to curb cigarette smuggling, causing a revenue loss of Rs 13,000 crore annually to the exchequer. Federation of All India Farmer Associations (FAIFA) in a pre-budget presentation to Finance Minister Nirmala Sitharaman highlighted the growing menace of cigarette smuggling, resulting in various issues -- [...]
Well-known US activist investor Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale. Hindenburg, a US-based investment research firm that specialises in activist short-selling, said its two-year investigation [...]
Every one in four Indians is concerned about the threat of job layoff while three out of four are worried about rising inflation yet half of them believe that the country's economy will grow in 2023, according to a survey by marketing data and analytics firm Kantar. In its second edition of India Union Budget [...]
The third largest producer of motorcycles in India, TVS Motor Company Limited saw its shares rise by more than 4 percent to trade at Rs 1,022 levels. The stock traded in the green after the company posted an increase in its quarterly earnings. In Q3FY23, TVS Motor Company Limited reported a total income of Rs [...]
