Ceramic materials and 3D printer-maker Lithoz GmbH has signed a sales partnership agreement with Murugappa Group company Wendt (India) Ltd for strengthening its operations in the country, the company said on Saturday. The agreement would enable the two companies further expand and develop their businesses. "With Lithoz's bases in Austria, the USA and China, this [...]
Robust margins, which rose to a multi-year high of 5.47 per cent, and improved asset quality helped Kotak Mahindra Bank book a 31 per cent growth in net income at Rs 2,792 crore in the December 2022 quarter. The management sees further uptick on the margins front in the fourth quarter as more loans get [...]
Yes Bank reported a 79 per cent dip in its consolidated December quarter net at Rs 55.07 crore on Saturday as provisions on legacy bad assets made it set aside higher amounts as provisions. The private sector lender also announced that it will appeal against the Bombay High Court's order in the Rs 8,400-crore AT-1 [...]
Aditya Birla group firm UltraTech Cement on Saturday reported a 37.9 per cent decline in its consolidated net profit to Rs 1,062.58 crore for the third quarter of FY2022-23. The company had posted a net profit of Rs 1,710.14 crore in the October-December period a year ago, UltraTech Cement said in a BSE filing. However, [...]
IDFC First Bank on Saturday reported a two-fold jump in its net profit to Rs 605 crore for the quarter ending December 2022, driven by growth in operating income. The private sector bank had reported a profit of Rs 281 crore for the October-December period of 2021-22. The bank's total income increased to Rs 7,064.30 [...]
State-owned Punjab & Sind Bank on Saturday reported a 24 per cent jump in profit at Rs 373 crore for the quarter ended December 2022, aided by healthy growth in interest income and decline in bad loans. The bank had posted a net profit of Rs 301 crore in the same quarter a year ago. [...]
Private sector SBI Life Insurance on Saturday reported more than 16 per cent decline in net profit at Rs 304 crore in the third quarter ended December 2022. The insurer's profit stood at Rs 364 crore in the same quarter of the previous fiscal, SBI Life said in a regulatory filing. Total income increased to [...]
Inflow in gold exchange traded funds (ETFs) plunged by 90 per cent to Rs 459 crore in 2022 due to rising prices of yellow metal, increasing interest rate structure coupled with inflationary pressures. This was way lower than an inflow of Rs 4,814 crore seen in the segment during 2021 and Rs 6,657 crore in [...]
ICICI Bank on Saturday reported a 34.5 per cent jump in its net profit at Rs 8,792 crore in December 2022 quarter on a consolidated basis, helped by an overall healthy performance. The second largest private sector lender's profit after tax grew 34.2 per cent to Rs 8,312 crore in the quarter, despite additional hit [...]
Four of the 10 most valued firms together added Rs 82,480.67 crore in market valuation last week, with HDFC Bank and Adani Total Gas emerging as the top gainers. While Infosys and HDFC were the other gainers, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, State Bank of India and Life Insurance Corporation [...]
Billionaire Gautam Adani's group plans to spin off businesses like hydrogen, airports and data centre between 2025 and 2028 after they achieve a certain investment profile, it's Chief Financial Officer Jugeshinder Singh said. Adani Enterprises Ltd, which is looking to raise Rs 20,000 crore in a follow-on share sale, is the business incubator for the [...]
Trading in the equity market in the holiday-shortened week ahead will be largely guided by the ongoing quarterly earnings, global trends and foreign fund movement, analysts said. Dalal Street also may face volatility amid monthly derivatives expiry, they added. "This week will be a shortened week because the market will be closed on Thursday in [...]
Helped by a firm global market trend and buying in IT counters, domestic benchmark indices opened on a positive note on Monday, even as higher oil prices and continued foreign investor selling kept a lid on gains. The 30-share BSE Sensex climbed 325.59 points to 60,586.77 in early trade, while the broader NSE Nifty advanced [...]
Investors keep a track of buying and selling by Foreign Institutional Investors (FIIs), mutual funds, other Domestic Institutional Investors (DIIs) and ace investors to guide their investment decisions. It is important to analyse the stocks in their top picks and then make investment decisions. According to a recent report published by Business Standard, domestic mutual [...]
RBL Bank on Friday reported a 34 per cent growth in its December quarter net profit at Rs 209 crore. The private sector bank had posted a profit of Rs 156 crore in the October-December quarter of FY2021-22. As per a regulatory filing, RBL Bank's total revenue grew 11 per cent year-on-year to Rs 1,767 [...]
IT company LTIMindtree on Friday posted a consolidated net profit of Rs 1,000.7 crore for the December quarter, a 4.6 per cent decline over the year-ago period due to one-off impact of merger-related integration cost. In November last year, L&T Group had announced operationalisation of the merger of Mindtree with LTI (Larsen & Toubro Infotech), [...]
Ramkrishna Forgings on Friday posted a 35 per cent rise in its December quarter consolidated net profit to Rs 61.04 crore, mainly on account of higher revenues. The firm had clocked a net profit of Rs 45.35 crore in the year-ago period, it said in a regulatory filing. The company's revenue from operations rose 30 [...]
DCM Shriram Ltd, which is into chemicals, sugar, bioseed and fertiliser businesses, on Friday reported a marginal decline in its December quarter consolidated net profit to Rs 342.09 crore. Its net profit stood at Rs 349.57 crore in the year-ago period. Total income rose 21 per cent to Rs 3,417.06 crore during October-December quarter of [...]
State-owned Indian Renewable Energy Development Agency (IREDA) is targetting an 18 per cent rise in revenue from operations to Rs 3,361 crore this fiscal. IREDA has signed a memorandum of understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) for the annual performance target for 2022-23, the Ministry of New and Renewable Energy [...]
The Human Resource industry anticipates various measures from the upcoming Budget 2023, that will be beneficial for employees, the employment process, for job development and will address the skill-gap challenge in the country. The Indian economy is on the road to recovery after the Covid-19 pandemic significantly affected the country's economic growth. Industry players are [...]
