The shares of Coforge Ltd rallied 7.15% to reach an intraday high of ₹ 4250.00 apiece on the National Stock Exchange (NSE). The IT services provider reported better-than-expected net profit for the October to December quarter (Q3FY23), which is a seasonally weak quarter. Its shares were trading at ₹ 4210.60 apiece at 12:36 PM on [...]
Union Bank of India on Friday reported two-fold jump in standalone profit at Rs 2,245 crore for third quarter ended December 2022 helped by decline in bad loans. The bank had posted a net profit of Rs 1,085 crore in the same quarter a year ago. Total income increased to Rs 24,154 crore in the [...]
Sustaining the current 19.5 per cent growth rate in income and corporate tax collections may be difficult in next fiscal year given headwinds from a slowing world and high base effect, a government source said. Net direct taxes, which are made up of personal income tax and the tax levied on corporate earnings, have seen a [...]
Domestic benchmark indices opened flat on Friday, shrugging weakness across global markets. The BSE Sensex was at 60,873.64 points, up 0.025% at 11:47 AM on Friday and, the NSE Nifty 50 was at 18111.25 points, up 0.019%. Meanwhile, the shares of two companies appreciated to the tune of 7% each to reach a fresh 52-week [...]
Announcement of measures such as quick refund of duties, resolving inverted duty issues and bringing exports through post and courier at par with standard customs clearances in the forthcoming Budget would significantly help boost the country's outbound shipments, economic think tank GTRI said on Friday. Most forecasts say that 2023 will be tough on trade [...]
The government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors, sources said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh [...]
Sri Lanka on Friday thanked India for the generous support of a USD 3.9 billion credit line last year and the assurances given to the IMF to restructure the country's debt after External Affairs Minister S Jaishankar conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery. Jaishankar, who is [...]
The board of the multi-bagger company KDDL Ltd has approved the buyback of the equity shares of the company. KDDL ltd is a company engaged in the business of manufacturing watch components like hands, dials, and precision engineering goods under the brand name, Eigen. This a multi-bagger stock that has given a return of 365% [...]
With the Supreme Court turning down Google's plea for a stay on the CCI order, the tech giant on Friday said it is reviewing the details of the decision which is limited to interim relief and did not decide the merits of the appeal. The company said it remains committed to users and partners and [...]
Moody's on Friday affirmed long-term deposit rating of State Bank of India (SBI) and upgraded it for Punjab National Bank, Canara Bank and Bank of Baroda on improving credit profile. The outlooks on long-term ratings of all the four banks remain stable, Moody's Investors Service said in a statement. Moody's has affirmed the Baa3 long-term local [...]
Shares of Hindustan Unilever Ltd declined over 4 per cent in morning trade on Friday as investors preferred to desert the counter amid concerns over increase in royalty and central services arrangement fee to its parent Unilever group. The stock fell 4.15 per cent to Rs 2,540.05 apiece on the BSE. At the NSE, it [...]
Film exhibition firm PVR Ltd on Thursday reported a consolidated net profit of Rs 16.15 crore for the third quarter ended December 31, 2022, helped by growth in key operating metrics. The company had posted a consolidated loss of Rs 10.18 crore a year ago, it said in a regulatory filing. Its consolidated revenue from [...]
Wires and cables manufacturer Polycab India Ltd (PIL) on Thursday reported a 45 per cent growth in its consolidated profit after tax to Rs 360.8 crore for the October-December quarter of 2022-23 compared to the same period of the previous fiscal. The company's PAT stood at Rs 248.4 crore during the corresponding quarter of the [...]
Sterling and Wilson Renewable Energy Limited (SWREL) on Thursday said it has narrowed its consolidated net loss to Rs 99.15 crore during December quarter, mainly due to lower expenses. The company had reported a consolidated net loss of Rs 428.78 crore in the year-ago period, according to a regulatory filing. Total income of the company [...]
Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, [...]
The government will take a decision next month on increasing the sugar export quota from current 60 lakh tonnes after assessing the domestic production and internal demand, Food Secretary Sanjeev Chopra said on Thursday. The food ministry has allowed 60 lakh tonnes of sugar exports for the current 2022-23 marketing year (October-September). India exported around [...]
The shares of IndusInd Bank ltd have fallen 1.80% on Thursday despite the company reporting excellent Q3 results for FY2023. The share opened at the price of Rs 1,211 and closed at the price of Rs.1201. IndusInd Bank reported a total income of ₹ 4,495 crores in Q3FY2022, a year-on-year increase of 18%. This was [...]
In a major blow to cash-strapped Pakistan, the World Bank has delayed the approval of two loans worth USD 1.1 billion until the next fiscal year, according to a media report. The Washington-based lender has also opposed slapping a flood levy on imports, creating a new hole in an already ambitious USD 32 billion annual [...]
IT solutions major Rashi Peripherals has filed preliminary papers with capital markets regulator Sebi to raise Rs 750 crore through an Initial Public Offering (IPO). The public issue is completely fresh issue of shares with no offer-for-sale component, according to the Draft Red Herring Prospectus (DRHP). The company may consider a private placement of equity [...]
India's domestic passenger traffic grew 13.69 per cent year-on-year to 127.35 lakh in December, according to DGCA monthly traffic data released on Thursday. The number of passengers flown by the Indian airlines in December 2021 was recorded at 112.02 lakh, as per data. IndiGo, which carried 69.97 lakh passengers during the month, lost the market [...]
