CCI proposes changes to penalty recovery rules; seeks public feedback by Dec 6
India’s Competition Commission (CCI) proposed amendments to its penalty recovery regulations, aiming to streamline the process of collecting fines for violations of the Competition Act. The proposed changes include issuing formal demand notices with specified payment deadlines and addressing procedural issues to enhance regulatory compliance and efficiency.
Eureka Forbes Q2 Results: Net profit shoots up 83% YoY to Rs 46 crore, revenue up 27%
Eureka Forbes reported an 83.2% YoY rise in Q2 net profit to Rs 46.67 crore, with revenues up 27.6% to Rs 672.87 crore. Growth was driven by product innovation, increased marketing, and early festive season demand.
Lupin Q2 Results: Net profit soars 74% YoY to Rs 853 crore on strong demand for generic drugs
Lupin exceeded profit expectations in the second quarter, reporting a 74% surge in profits, reaching ₹8.53 billion. This growth was fueled by robust demand for their respiratory and diabetes medications. Overall revenue also saw an 11.3% increase, reaching ₹54.97 billion.
Sebi mulls allaying concerns on ‘skin in the game’ rule for MF employees
To address concerns about the “skin in the game” rule for designated employees of mutual funds, Sebi on Thursday proposed reducing the mandatory investment percentage, applying it based on salary brackets, and excluding non-cash components like ESOPs from the minimum investment calculation. The proposals aimed at easing compliance, particularly for employees with lower CTCs and […]
IHCL Q2 Results: Net profit up 226% to Rs 583 crore, revenue up 27%
Tata-backed IHCL reported a 226% YoY profit surge to Rs 583 crore for Q2, with revenues up 27.4% to Rs 1826 crore. The company will manage The Claridges, New Delhi from April 2025. H1 revenues grew 16.4%, profit up 103%.
NHPC Q2 results: PAT falls 41% YoY to Rs 909 crore, revenue up 4%
NHPC Ltd reported a 41% YoY decline in net profit to Rs 909 crore for Q2 FY24, compared to Rs 1546 crore last year. Revenue rose 4% to Rs 3052 crore, while EBITDA grew 2%, with improved margins of 58.9%.
Tech view: Nifty forms long negative candle, minor dips towards 23,800 expected. How to trade tomorrow
According to Nagaraj Shetti of HDFC Securities, the short-term market outlook remains uncertain due to ongoing volatility. A substantial upward rally is unlikely until the Nifty crosses the 24,500 mark, with potential support around the 23,800 level on the downside.
Trent Q2 Results: Profit jumps 46% YoY to Rs 423 crore, revenue up 40%
Trent Q2 Results FY25: Trent, the Tata Group retailer, exceeded profit expectations with a 46% surge to Rs 423.44 crore in the September quarter, driven by strategic initiatives. However, revenue fell short of estimates at Rs 4,035.56 crore, despite a 39.6% increase, in a challenging consumer market.
FirstCry shares tumble over 4% after GST department initiates investigation
Shares of FirstCry fell 4.5% after the GST department initiated an investigation at its Mumbai head office and Pune warehouse. The company assured normal operations, with no details on alleged violations.
Indian rupee drops to all-time low on bullish dollar outlook
The Indian rupee hit a record low against a surging US dollar as investors anticipate a boost to the American economy from Donald Trump’s policies. Despite interventions by the Reserve Bank of India, the rupee weakened further, fueled by foreign investors pulling money out of Indian stocks.