Govt allows direct listing by Indian cos on foreign exchanges; what does it mean for India Inc?
“A direct listing of securities by domestic companies will now be permissible in foreign jurisdictions…This will facilitate access to global capital and better valuation,” says Finance Minister Nirmala Sitharaman While speaking at the launch event of AMC Repo Clearing and a corporate debt market development fund on Friday
Piramal Enterprises Q1 Results: Co reports Rs 509 cr profit on Shriram stake sale
Total assets of the company rose to Rs 63,938 crore, of which retail loans constituted 55%, up from 34% a year ago. Retail loans grew 57% to Rs 34,891 crore
These 7 FMCG stocks touch their 52-week high, gain up to 20% in a month
The benchmark index Sensex experienced a marginal decline, reaching the 66,160 level on Friday. However, amid the market downturn, 7 stocks listed on the BSE FMCG index achieved new highs in the past 52 weeks. The 52-week high is a crucial technical indicator for some traders and investors, as it helps evaluate a stock’s current […]
Bank Of India Q1 Results: PAT skyrockets 176% YoY to Rs 1,551 crore
The bank’s net interest margin for the quarter improved by 49 bps to 3.03%. Net interest income rose 45% year-on-year at Rs 5,915 crore. Non interest income was 27% higher at Rs 1,462 crore
Q1 Results Today: SBI Card, M&M Financial, Nazara Tech and Star Health
SBI Card’s net profit decreased by 5% YoY to Rs. 593 crore for Q1 FY24 while revenue from operations increased by 24% YoY to Rs. 4,046 crore. M&M Financial’s profit was at Rs. 353 crore for Q1, a YoY growth of 58%, and total income was at Rs. 3,125 crore, a 25% YoY increase.
Nifty ends week with Doji candle. What traders should do next week
The Nifty index formed an indecisive Doji candle after finishing the week with a small loss of 14 points, reflecting a downward trend in the short-term. HDFC Securities suggested any potential upside may encounter strong resistance at the 19,750-19,800 range, the next crucial lower supports level is expected around 19,500-19,450.
Tough times ahead! Top 3 IT firms slash revenue guidance for FY24
Infosys revised its FY24 revenue guidance from its earlier estimate of 4-7% constant currency growth to 1-3.5%. A key driver for the lower revenue guidance has been the slowdown in the global BFSI sector
Raamdeo Agrawal, Motilal Oswal to donate 10% equity worth Rs 1,200 crore to charity
Under the proposed donation, Motilal Oswal and Raamdeo Agrawal will offload 73.97 lakh shares each. The combined value of the donation amount through stake sale is about Rs 1,240 crore.
All initiatives will add to Indian Hotels top line, margins & benefit as demand outpaces supply: Puneet Chhatwal
“We opened five hotels. Another 15 are supposed to open in the next three quarters. And we opened 13 last year too. All these initiatives slowly will keep adding to both the top line, margin expansion and also benefit in times like this where demand outpaces supply in terms of the operating leverage of the […]
India’s top 10 IT companies earned over Rs 26,000 crore profit in Q1. Here’s the break-up
The top ten Indian IT companies earned a total profit of Rs 26,368 crore in the June quarter of FY24. Here’s the break-up of these companies’ profits in Q1.