The Board of Sawaca Business Machines at its meeting held on 13 April 2022 had recommended the proposal for a stock split of its equity shares. Currently, these shares have a face value of ₹10 each and they are being split into shares of ₹ 1 each. The shares will quote on an ex-split basis [...]
The bear market is a period in the stock market when the shares and indexes trade near their 52-week lows or even lower. In the year 2022, the BSE benchmark index has declined approx -10.8%. However, while the majority of shares are hit during this bear market, few stocks have broken the trend and generated [...]
Under pressure, the government on Saturday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre to give relief to consumers battering under high fuel prices that has also pushed inflation to a multi-year high. The excise duty cut will translate into a reduction [...]
Digital financial services firm One97 Communications, which operates under Paytm brand, on Saturday said it has formed a joint venture general insurance company in which it has committed to invest Rs 950 crore over a period of 10 years. The proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by [...]
Infrastructure investment trust IndiGrid has posted over 45 per cent rise in its consolidated net profit at Rs 99.80 crore in the March quarter, mainly on the back of higher revenues. The consolidated net profit of India Grid Trust (IndiGrid) was Rs 68.69 crore in the quarter ended March 31, 2021, a regulatory filing showed. [...]
Indraprastha Gas Ltd, the nation's largest CNG retailer, will invest about Rs 8,000 crore in the next five years to expand the city gas network of CNG stations and pipelines, taking environment-friendly fuel to household kitchens and factories, the company's Managing Director Sanjay Kumar said on Friday. Indraprastha Gas Ltd (IGL) currently has major operations [...]
Amara Raja Batteries Ltd on Friday reported a decline of 47.80 per cent in consolidated net profit at Rs 98.85 crore in the fourth quarter ended March 2022. The company had posted a net profit of Rs 189.38 crore in the January-March period a year ago, Amara Raja Batteries Ltd said in a regulatory filing. [...]
Mortgage financier Indiabulls Housing Finance Company reported an 11.23 per cent rise in profit after tax (PAT) to Rs 307 crore for the fourth quarter ended March 2022 on lower credit cost and higher profit from its co-lending business. The company had posted a profit after tax of Rs 276 crore in the year-ago quarter. [...]
Nuvoco Vistas Corp Ltd on Friday reported a decline of 22.37 per cent in consolidated net profit at Rs 29.11 crore in the fourth quarter ended March. The company had posted a net profit of Rs 37.50 crore in the March quarter of previous year, Nuvoco Vistas Corp said in a regulatory filing. However, its [...]
Hackers and fraudulent customers have stolen Rs 7.38 crore by tampering and manipulating the authorisation process of Razorpay Software to authenticate 831 failed transactions, according to a police complaint lodged by the payment gateway company. In his complaint to the South East Cyber Crime Cell lodged on May 16, Razorpay's Head of Legal Disputes and [...]
The initial public offer of luxury and premium watch retail player Ethos got fully subscribed on the last day of subscription on Friday. According to NSE data, the Rs 472.3 crore IPO received bids for 41,38,650 shares against 39,79,957 shares on offer, translating into 1.04 times subscription. The portion for non-institutional investors received 1.48 times [...]
Realty firm Arvind SmartSpaces on Friday reported a two-fold jump in net profit at Rs 14 crore for the quarter ended March. Its profit stood at Rs 6.6 crore in the year-ago period. Revenue from operations grew 150 per cent to Rs 161 crore in the quarter under review from Rs 64.5 crore in the [...]
Markets regulator Sebi has declared the highest bidder for a land parcel belonging to Ramel Industries for a bid value of Rs 4.3 crore, as part of its efforts to recover investors' money. The bidding took place on February 24 for the land parcel in West Bengal, the Securities and Exchange Board of India (Sebi) [...]
Shares of Equitas Small Finance Bank on Friday tumbled over 11 per cent after the company's Founder and CEO P N Vasudevan asked the lender to look for his successor as he wants to hang up his boots to pursue "a distinct set of goals". The stock tanked 11.38 per cent to settle at Rs [...]
India has exported wheat worth USD 177 million in March and USD 473 million in April even after the Russia-Ukraine conflict started in late February to help other countries overcome food crisis, sources said. According to them, India exported wheat even at a time when about eight nations, including Ukraine, Belarus, Turkey, Egypt, Kazakhstan and [...]
South-based Karur Vysya Bank on Friday reported an over two-fold jump in its net profit to Rs 213.47 crore in the March 2022 quarter on the back of a fall in bad loans. The bank had posted a net profit of Rs 104.37 crore in the same quarter of the previous fiscal. Total income during [...]
JK Tyre & Industries on Friday reported 80 per cent decline in consolidated net profit at Rs 38.22 crore for the fourth quarter ended March 31, 2022, impacted by higher expenses primarily due to rise in input costs. The company had posted a net profit of Rs 194.96 crore for the same period of previous [...]
Parle Agro, a beverage company which owns popular brands such as Frooti and Appy, has urged the government to extend the deadline to implement the ban on plastic straws for the next six months. The government's ban on single-use plastics, including plastic straw, is going to be effective from July 1, 2022. Terming it as [...]
Reserve Bank of India (RBI) on Friday said its board has approved a dividend payment of Rs 30,307 crore to the government for the fiscal ended March 2022. The board approved the transfer of Rs 30,307 crore as surplus to the central government for the accounting year 2021-22 while deciding to maintain the Contingency Risk [...]
Consumer protection regulator CCPA on Friday said it has issued notices to cab aggregators Ola and Uber for unfair trade practices and violation of consumer rights. The Central Consumer Protection Authority (CCPA) has given 15-days time for these two companies to reply to the notices. "We have issued notices to both Ola and Uber. Most [...]
