The India Cements Ltd on Wednesday said it has inked a strategic collaboration with technology start-up Tvasta Manufacturing Solutions, which specialises in construction of buildings using 3D printing application. The collaboration would see India Cements and Tvasta Manufacturing to engage in a dedicated research and development, synergetic exchange of technology-centric efforts to develop new raw [...]
Deepak Fertilisers on Wednesday reported a 144.30 per cent jump in consolidated profit after tax (PAT) at Rs 282.91 crore for the quarter ended March 2022. The company's PAT stood at Rs 115.80 crore during the corresponding quarter of 2020-21, Deepak Fertilisers and Petrochemicals Corporation said in a BSE filing. Revenue from operations during the [...]
Sugar stocks fell sharply on Wednesday, a day after the government imposed restrictions on sugar exports from June 1 to increase availability of the commodity in domestic market and curb price rise. Shares of Dalmia Bharat Sugar and Industries plummeted 13.40 per cent, Dwarikesh Sugar tumbled 9.38 per cent, Uttam Sugar Mills plunged 9.30 per [...]
State-owned Power Finance Corporation (PFC) on Wednesday posted a nearly 10 per cent rise in the consolidated net profit at Rs 4,295.90 crore in the March quarter mainly on the back of higher revenues. The consolidated net profit of the company was at Rs 3,906.05 crore in the year-ago period, a BSE filing showed. Total [...]
Startup electric vehicle charging solutions provider Numocity on Wednesday said ABB's E-mobility division has acquired a controlling stake in the company for an undisclosed sum. With the acquisition, the current investors Ideaspring Capital and Rebright Pte Ltd will exit the company, Numocity said in a statement. Ideaspring Capital had led an investment in Numocity in [...]
Online travel service provider Easy Trip Planners Ltd on Wednesday reported a 23.4 per cent decline in consolidated net profit at Rs 23.34 crore for the fourth quarter ended March, impacted by lower revenue and higher expenses. The company, which operates under the EaseMyTrip brand, had posted a consolidated net profit of Rs 30.47 crore [...]
Adani Ports and Special Economic Zone Limited (APSEZ) has reported a 21.78 per cent decline in consolidated net profit at Rs 1,033 crore for the fourth quarter ended March 2022. The country's largest integrated logistics player had clocked a consolidated net profit of Rs 1,321 crore in the corresponding period of the previous fiscal, according [...]
HDFC Securities has a buy call on the shares of Sobha Limited with a target price of ₹902. The shares are currently trading at ₹ 500.00 levels. This indicates an upside of 80.4%. Sobha Ltd. reported the highest-ever annual presales of 4.9 million square feet (msf) (+22% YoY), valued at ₹ 38.7bn. Bengaluru accounted for [...]
Direct-to-consumer men's innerwear brand Almo on Wednesday said it has raised USD 2 million (over Rs 15 crore) in pre-Series A round funding led by Inflection Point Ventures. The funding round also saw the participation of other investors, including LetsVenture and AngelList India, the startup said in a statement. Almo said it intends to bolster [...]
Taxbuddy.com, an online tax advisory company started by a former Indian Revenue Service officer Sujit Bangar, on Wednesday said it has raised USD 2.10 million (about Rs 16 crore) in funding led by UAE-based fund Zenith Global. The company, launched in 2019 to offer subscription-based plans of tax advisory using automation technologies, will use the [...]
The shares of Info Edge (India) Ltd plummeted 5.20% to reach a fresh 52-week low of ₹ 3320 apiece on Wednesday’s early trades. They hit their previous 52-week low just two weeks ago on 6th May 2022. The shares changed 4,38,391 hands by 11:55 AM. Info Edge (India) Ltd. is a premier online classifieds company [...]
Sri Lanka's Prime Minister Ranil Wickremesinghe was appointed Finance Minister of the debt-ridden country on Wednesday by President Gotabaya Rajapaksa, an official statement said. Wickremesinghe, 73 was sworn in as the Minister of Finance, Economic Stability and National Policies. The five-time prime minister was re-appointed to the job on May 12 following the political circus [...]
The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation’s economy sets up an adequate macroeconomic policy framework, the global lender has said. The statement by the World Bank came on Tuesday following reports that the Washington-based institution was planning to support Sri Lanka to [...]
Indiabulls Real Estate Ltd has been one of the worst-performing stocks in the BSE 500. The share had reached a 52-week high of ₹ 195.90 on 9th October 2021 and a 52-week low of ₹ 68.40 on 11th May 2022. The stock has given a negative return of 56.83% on a year-to-date basis. Rakesh Jhunjhunwala [...]
Domestic no-frills carrier SpiceJet said on Wednesday said it has signed and concluded the settlement and consent terms with Credit Suisse in a pending dispute with the latter. The settlement and consent terms, executed on May 23, have also been filed before the Supreme Court for final orders, the airline said in a statement. The [...]
A group of ministers (GoM) in the Madhya Pradesh government deliberating on excise matters has given the consent to reduce the import duty on beer and wine in the state, MP Home Minister Narottam Mishra said. The decision was taken in a meeting of the ministerial group headed by Mishra on Tuesday. "Various issues related [...]
Global pharma and chemicals major Bayer CropScience on Tuesday reported a more than twofold jump in profit to Rs 152.7 crore for the quarter ended on March 31, 2022, compared to the same period of the previous financial year. The company's profit stood at Rs 61.9 crore during the corresponding period of 2020-21, Bayer CropScience [...]
The government on Tuesday imposed restrictions on sugar exports from June 1, a move aimed at increasing availability of the commodity in the domestic market and curbing price rise. "Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards," the Directorate General of Foreign Trade (DGFT) said [...]
JM Financial on Tuesday reported a marginal decline in its consolidated net profit at Rs 229 crore for the quarter ended March 2022. It had posted a net profit of Rs 233 crore in the same period a year ago and Rs 261 crore in the preceding quarter ended December 2021. Total income during January-March [...]
Clariant Chemicals (India) on Tuesday reported a 47.67 per cent growth in profit to Rs 16.20 crore for the January-March quarter of 2021-22 compared to the same period of the previous financial year. The company's profit stood at Rs 10.97 crore during the corresponding quarter of 2020-21, Clariant Chemicals (India) said in a BSE filing. [...]
