Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning [...]
As Tesla Inc continues to struggle in getting its production at the China facility back to normalcy, the company shares took a dive once again on Tuesday. The share had reached a 52-week high of $ 1243.49 on 4th November 2021. The shares have been continuously falling after its quarterly results are currently trading at [...]
Shalimar Paints Ltd on Thursday reported narrowing of its consolidated net loss to Rs 12.73 crore for the fourth quarter ended March 31, 2022. The company had posted a loss of Rs 28.56 crore in the January-March period a year ago, Shalimar Paints said in a regulatory filing. Its revenue from operations was down by [...]
Auto components maker Motherson Sumi Wiring India Ltd on Thursday reported a 72.72 per cent decline in net profit at Rs 46.42 crore in the fourth quarter ended March 2022, impacted by higher expenses and an exceptional item outgo. The company had posted a net profit of Rs 170.16 crore in the same period previous [...]
Apparel manufacturer Page Industries Ltd on Thursday reported an increase of 64.86 per cent in net profit at Rs 190.52 crore for the fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 115.56 crore during the January-March period a year ago, Page Industries Ltd (PIL) said in a regulatory [...]
Hinduja Group flagship Ashok Leyland on Thursday said it has strengthened its operations in southern region of Africa by inking a distribution pact with ETG group's logistics, warehousing and distribution vertical. ETG is a global conglomerate operating across various segments, with a deep focus on uplifting Sub-Saharan Africa. As part of the tie-up, ETG Logistics [...]
The country's largest mortgage lender HDFC Ltd on Thursday said it has sold 10 per cent of its stake in HDFC Capital Advisors Ltd (HCAL) to Abu Dhabi Investment Authority for Rs 184 crore. With this, HCAL ceases to be a wholly-owned subsidiary of HDFC. In April, Housing Development Finance Corporation (HDFC) had entered into [...]
Singapore-based telecom firm Singtel is in talks with Bharti Airtel chairman Sunil Mittal to sell its 2-4 per cent stake in the company, a source aware of the development said on Thursday. As per market capitalisation, Singtel will be able to generate close to Rs 7,500 crore on sale of its 2 per cent stake. [...]
The shares of most IT companies like TCS, Infosys and Wipro, tanked this year; but Tech Mahindra is the worst-performing stock on a year-to-date basis. The Indian markets are mostly in the red due to the impacts of the Russia Ukraine War and the fear of a looming lockdown, due to the situation in China. [...]
Rahul Bhatia-led InterGlobe Enterprises and Atlanta-based logistics major UPS on Thursday announced a new joint venture to cater to the Indian market. The joint venture -- MOVIN -- will be based out of Gurugram and have representation from both UPS and InterGlobe Enterprises. The entity will offer a range of B2B logistics services in the [...]
FMCG major Colgate-Palmolive India Ltd on Thursday reported a nearly 3 per cent rise in net profit at Rs 323.57 crore for the fourth quarter ended March 2022. It had a posted a net profit of Rs 314.66 crore in the January-March quarter a year ago, Colgate-Palmolive India Ltd (CPIL) said in a BSE filing. [...]
Emiza Supply Chain Services has raised Rs 37.5 crore in a funding round led by JM Financial Private Equity. Besides, Mayfield India - an existing investor in Emiza – participated in the series B funding round, JM Financial Private Equity said in a statement on Thursday. Proceeds from the investment will support augmentation of the [...]
All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline. In October 2020, the airline's Committee of Creditors (CoC) approved the resolution plan submitted by the consortium of the UK's Kalrock Capital and the UAE-based entrepreneur Murari Lal [...]
The Nifty Pharma index tanked 5.20% in the past three days and is currently at 12,553.70 points. Divi’s Laboratories is a major constituent of this index and has a weightage of 12.94% as per April 29, 2022’s data. Despite stellar results in the March quarter, the shares of Divi’s Laboratories slipped by more than 21% [...]
Indian markets started Wednesday’s trades with gains but benchmark indices slipped and closed in the red by the closing bell on Wednesday. The thirty share index closed at 53,749.26, down 0.56% and the fifty-share index closed at 16,025.80 points, down 99.35%. IT auto and metal shares dragged the headline indices lower, but gains in the [...]
Fortis Healthcare Ltd on Wednesday reported a 40 per cent jump in consolidated net profit at Rs 87.03 crore in the fourth quarter ended March 31, 2022. The company had posted a consolidated net profit of Rs 62.36 crore in the same quarter of the previous fiscal, Fortis Healthcare said in a regulatory filing. Consolidated [...]
Balu Forge Industries Limited (BFIL) on Wednesday saw its standalone net profit jump to Rs 10.90 crore for the March quarter, boosted by higher income. The company had reported standalone net profit of Rs 4.78 crore in the year-ago period, the maker of finished and semi-finished forged crankshafts and forged components said in a regulatory [...]
The initial public offer of speciality chemicals company Aether Industries was subscribed 49 per cent on the second day of subscription on Wednesday. The IPO received bids for 45,68,996 shares against 93,56,193 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 67 per cent, Qualified Institutional Buyers (QIBs) [...]
State-owned MOIL on Wednesday posted a rise of 13 per cent in its net profit to Rs 131.07 crore during the March quarter, supported by reduced expenses. The company had clocked Rs 116.03 crore net profit during the January-March quarter of 2020-21, it said in a regulatory filing. During the quarter under review, the company's [...]
Realty firm Kolte-Patil Developers Ltd on Wednesday reported a 28 per cent increase in consolidated net profit at Rs 26.68 crore for the quarter ended March. Its net profit stood at Rs 20.9 crore in the year-ago period, according to a regulatory filing. Total income rose to Rs 380.99 crore in the fourth quarter of [...]
