Infosys on Thursday posted a 13.4 per cent year-on-year increase in consolidated net profit at ₹ 6,586 crore for the December quarter as against ₹ 5809 crores (after minority interest) in the corresponding quarter last year. The Bengaluru-based IT firm logged a 20 per cent year-on-year increase in consolidated revenue in the third quarter of [...]
India's imports of vegetable oils, comprising edible and non-edible oils, rose 28 per cent to 15.66 lakh tonnes in December, driven by higher shipments of refined palmolein and crude palm oil. In a statement, the Solvent Extractors' Association of India (SEA) said the import of vegetable oils during December 2022 stood at 15,66,129 tonnes compared [...]
Capital markets regulator Sebi on Thursday allowed stock exchanges to launch multiple contracts in the same commodity in a bid to encourage broader participation of investors in commodity derivatives market. This would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. The move came after the [...]
India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted [...]
Gujarat's Bharatiya Janata Party government on Thursday announced a new policy which seeks to regularise unauthorised constructions inside industrial estates controlled by the Gujarat Industrial Development Corporation (GIDC). This new policy will cover nearly 70,000 industrial units currently functioning in 220 GIDC estates. Any unauthorised construction done by the owners of Micro, Small and Medium [...]
Benchmark stock indices Sensex and Nifty declined for a third straight day on Thursday as investors turned cautious ahead of release of key inflation and industrial production data. In a choppy trade, the 30-share BSE Sensex declined by 147.47 points or 0.25 per cent to settle at 59,958.03 as 15 of its constituents ended with [...]
Air India will launch 12 weekly flights to London Gatwick airport as well as operate additional services to London Heathrow airport from March, as the Tata group-owned airline strengthens its international network. The new and additional flights to the UK will start from March 26. "To Gatwick, Air India will operate a thrice-a-week service from [...]
One of India’s largest apparel export company Gokaldas Exports Limited (GEL) is a multibagger stock in which two brokerages see an upside of up to 60%. The company designs, manufactures and sells a wide range of garments for men, women and children. It caters to the needs of leading international fashion brands and retailers. Despite [...]
The country's wheat production is likely to set a new record of more than 112 million tonnes in the 2022-23 crop year (July-June), according to official sources. Wheat production had declined to 106.84 million tonnes due to heat wave in key growing states in 2021-22 crop year, as per the agriculture ministry data. In 2020-21, [...]
After a sharp decline in initial public offer activities in 2022, Kotak Investment Banking on Thursday said it expects a 30 per cent jump in IPO issuances in 2023. Its head of equity capital markets, V Jayasankar told reporters that there is a strong pipeline of over USD 9 billion, which has been approved by [...]
The Uttar Pradesh Electricity Regulatory Commission (UPERC) has severely reprimanded two power distribution companies, Paschimanchal Vidyut Vitran Nigam Ltd (PVVNL) and Madhyanchal Vidyut Vitran Nigam Ltd (MVVNL) for poor progress of power meter conversion. The Commission feels that it is due to some 'nefarious interest or goblin mode' that the two discoms are not putting [...]
India will take up developmental issues of the Global South at the meetings of the G-20 countries emphasising that there should not be any first world or third world, but only one world having a common future. Addressing the ministerial session at the Global South Summit, she said India will use the G-20 Presidency to [...]
The government on Wednesday said 18,600 toys have been seized in the last one month from major retail stores, including those of Hamleys and Archies at airports and malls across the country, for lack of BIS quality mark. Meanwhile, consumer protection regulator CCPA has also issued notices to three major e-commerce players -- Amazon, Flipkart [...]
The ‘Big Whale’ of the Indian stock market, Ashish Kacholia, continues buying stocks and adding to his portfolio which is worth more than Rs. 1,909.1 Crores. The investor recently bought a stake in Agarwal Industrial Corporation. As per the latest filing for the December quarter, the ace investor bought additional 2,00,000 shares, or 1.25% stake [...]
Increasing interest rate cycles and better returns from equity weigh down on mutual funds focussed on investing in fixed income securities in 2022, with the segment witnessing a net outflow of Rs 2.3 lakh crore, while a reversal of trend is expected in 2023 on anticipation of slowdown in the rate hike cycle. This was [...]
Kamdhenu Ventures, the paints business of Kamdhenu Group, will be listed on the stock exchanges BSE and NSE later this month. The paints division was separated from the steel business of the group last year for better management focus and operational flexibility, its CMD Satish Agarwal said, citing reasons for the demerger. There are plans [...]
Union Minister Nitin Gadkari on Thursday said that Sri Lanka and Bangladesh have shown their keenness to import ethanol from India. The minister of road transport and highways said that he discussed about ethanol with the government of both the countries -- Sri Lanka and Bangladesh. "I was able to discuss this matter with PM [...]
The government is committed to growth of online gaming with new rules safeguarding digital citizens, but will not allow hijack of the proposed self-regulatory body, that will operate at arm's length from the industry and have equitable representation, IT Minister Rajeev Chandrasekhar has said. SRO or the self-regulatory body, proposed under the draft rules for [...]
Indian benchmark indices opened in the green on Thursday. However, it slipped into the red as bank, pharma and FMCG indices fell. The BSE Sensex was at 59730 levels, down 0.62%, while the NSE Nifty 50 was at 17790 levels, down 0.60%. Here are two stocks that brokerages have recommended for an upside of up [...]
Rail Vikas Nigam Limited (RVNL), a Mini-Ratna CPSE gained 4 percent in the early hours to trade at Rs 74.85 levels. The shares edged higher after the company bagged projects worth Rs 1,134.1 Crore. RVNL received a letter of approval (LoA) on January 10th, 2023, for constructing an elevated viaduct (approximate length of 10 kilometers), [...]
