Luxury carmaker Mercedes-Benz India on Monday said it has appointed Vyankatesh Kulkarni as the Executive Director and Head of Operations, effective June 1, 2022. Kulkarni will be responsible for the production and procurement-related functions, including the company's transformation journey into electrification, digitisation and technology-driven smart manufacturing prowess of the future. "Kulkarni has successfully handled many [...]
Axis Asset Management has said that it is cooperating with regulatory authorities amid reports of Sebi carrying out 'search and seizure' at several entities in connection with an ongoing probe in the front-running case at the fund house. "Axis AMC has been conducting a Suo moto investigation since February 2022, with assistance from reputed external [...]
Hero Electric on Monday said it has joined hands with Cholamandalam Investment and Finance Company to offer retail finance for electric two-wheelers. The partnership will enable the company to cater to newer markets with Chola's widespread presence across the country, the electric two-wheeler maker said in a statement. "The fluctuating market scenario and increased preference [...]
Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO). The initial share-sale comprises fresh issue of equity shares worth Rs 1,125 crore and Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according [...]
Biscuit manufacturer Britannia Industries Limited has declared a final dividend of ₹ 56.50 per share on 2nd May 2022. This is about 5650% of its face value of ₹1 per share. The shares will start trading ex-dividend on 20th June 2022. The company posted a 4.26% increase in its net profit from ₹364.32 crores during [...]
Infrastructure major Larsen and Toubro (L&T) on Monday said it has received another significant contract order for Chennai Metro Rail Project. According to the company's project classification, the value of a significant order ranges between Rs 1,000 crore to Rs 2,500 crore. "L&T Construction awarded another Significant contract for Chennai Metro Rail Project (CMRL)," L&T [...]
The shares of 3M India opened at ₹ 19800 apiece with a gap up opening of 13.52% and touched an intraday high of ₹ 20899 in NSE on Monday’s early trades. They are currently trading at ₹ 19330 levels after changing 29510 hands. The company reported a consolidated total income of ₹ 934.81 crores in [...]
Tata Motors on Monday said its subsidiary and Ford India have inked a pact with the Gujarat government to acquire FIPL's Sanand vehicle manufacturing plant. Tata Passenger Electric Mobility Ltd (TPEML) -- a subsidiary of Tata Motors -- and Ford India Pvt Ltd (FIPL) have today signed a memorandum of understanding (MOU) with the Gujarat [...]
Shares of luxury and premium watch retail player Ethos Ltd on Monday listed with a discount of 6 per cent against the issue price of Rs 878. The stock made its debut at Rs 830, registering a decline of 5.46 per cent from the issue price on the BSE. It further tumbled 9.24 per cent [...]
Realty firm Shriram Properties on Saturday reported a consolidated net profit of Rs 64.4 crore for the quarter ended March. Its net loss stood at Rs 3.15 crore in the year-ago period. Total income rose to Rs 236.5 crore in the fourth quarter of this fiscal year from Rs 157.33 crore in the corresponding period of [...]
Packaging materials and solution company Uflex Ltd on Saturday reported a 32.32 per cent growth in its consolidated net profit to Rs 350.59 crore for the fourth quarter ended on March 31, 2022. The company had posted a net profit of Rs 264.95 crore during the January-March quarter a year ago, Uflex said in a [...]
Diageo-controlled liquor maker United Spirits Ltd (USL) has announced the sale and franchising of over 30 popular brands to Singapore-based Inbrew Beverages for an estimated consideration of Rs 820 crore. The company has signed a sale and franchise agreement for select popular brands with Inbrew, a joint statement said. "USL and Inbrew have executed definitive [...]
IFB Industries reported a consolidated net loss of Rs 28.29 crore for fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 7.71 crore for January-March period a year ago, IFB Industries said in a regulatory filing. However, total income was up at Rs 904.86 crore during the quarter under [...]
Diversified entity ITC on Saturday said it has acquired a 10.07 per cent stake in Blupin Technologies Pvt Ltd, the company behind direct-to-consumer (D2C) brand, Mylo. The FMCG major in April had announced the acquisition of a 10.07 per cent stake in Blupin Technologies Pvt Ltd, for up to Rs 39.34 crore. "The Company has [...]
Cigarette maker Godfrey Phillips India Ltd on Saturday reported a 9.07 per cent increase in its consolidated net profit to Rs 103.88 crore for the January-March quarter of 2021-22. The company had posted a net profit of Rs 95.24 crore during the January-March quarter of the previous fiscal, Godfrey Phillips India said in a regulatory [...]
Benchmark indices rose today, tracking a global rally driven by a strong retail earnings outlook in the United States and concerns about aggressive rate hikes. Most of the indices were in the positive territory. The Nifty 50 is trading at 16,313.90 levels, up 0.89%, while the Sensex is trading at 54,758.81 levels, up 0.93%. Here [...]
Mahindra & Mahindra on Saturday reported nearly five-fold jump in standalone profit at Rs 1,192 crore for quarter ended March 31, 2022. The company had posted a profit of Rs 245 crore for the year-ago period, it said in a statement. Revenue grew 28 per cent to Rs 17,124 crore in the period under review [...]
Inox Wind has reported widening of its consolidated net loss to Rs 255.76 crore for the March quarter, mainly due to lower revenues. The consolidated net loss of the company stood at Rs 105.87 crore in the quarter ended March 31, 2021, it said in a BSE filing. Total income in the quarter dropped to [...]
Online ticketing and entertainment platform BookMyShow on Friday said that it is witnessing a rush of users with easing of Covid-related curbs as it recorded the highest-ever ticket booking of 2.9 crore on its platform in April this year. The company said that its Transaction Video on-Demand (TVOD) streaming platform also recorded the highest transaction [...]
Adani Defence & Aerospace has entered into definitive agreements for acquiring 50 per cent equity stake in agricultural drone startup General Aeronautics for an undisclosed amount. Bengaluru-based General Aeronautics specialises in developing robotic drones to offer tech-enabled crop protection services, crop health monitoring, precision farming and yield monitoring services using artificial intelligence and data analytics. [...]
