April 15, 2025

Premier Energies enters new partnership for solar cell manufacturing

 (20 second reading) Premier Energies, leading renewable energy company has partnered with Germany-based RENA Technologies for next-generation solar cell technologies.

The collaboration will focus on optimising wet chemical processes for N-Type solar cells and spearheading the development of wet chemistry solutions for cutting-edge silicon/Perovskite Tandem technology.

This landmark collaboration brings together Premier Energies' large-scale manufacturing capabilities with RENA’s advanced wet chemistry and equipment solutions. Together, the companies aim to push the frontiers of high-efficiency solar cell manufacturing, targeting breakthroughs in cell performance, production throughput, and sustainable manufacturing processes.

Quicklinks

April 15, 2025
Biocon subsidiary secured entry for Yesafili in USA (20 second reading) Biocon share price jumped over 4% on Tuesday after the company announced that its subsidiary has secured market entry date for Yesafili, an interchangeable biosimilar to Eylea, in the US. Biocon shares spiked as much as 4.06% to ₹329.40 apiece on the BSE. Biocon Biologics Ltd, a subsidiary of Biocon, announced a settlement and license agreement with Regeneron that clears the way to commercialize Yesafili (aflibercept-jbvf), an interchangeable biosimilar aflibercept, in the United States. Yesafili, a vascular endothelial growth factor (VEGF) inhibitor, is used to treat several different types of ophthalmology conditions, and is a biosimilar of its reference product EYLEA (aflibercept).

Quicklinks

April 15, 2025

Dr Reddy’s not to cut workforce cost by 25%

(20 second reading) Pharmaceutical layoffs planned? No, says Dr Reddy's Laboratories, as the drugmaker categorically denied media reports that has undertaken workforce reduction to cut costs by around 25 per cent. Calling the reports “factually incorrect”, Dr Reddy's Laboratories denied layoffs of employees, including senior executives, as reported by Business Standard. 

The paper had reported that Dr Reddy's Laboratories, is looking to soon trim workforce costs by nearly 25 per cent. It reported that executives who earn more than ₹1 crore annually, have been asked to resign.

Quicklinks

April 15, 2025

Tata Power wins Rs 4500 crore NTPC order

Tata Ppowers’s renewable energy unit secured a Rs 4,500 crore order from NTPC to develop dispatchable renewable energy projects. It signed a power purchase agreement with NTPC to supply 200 MW of firm and dispatchable renewable power. The project is scheduled to be completed within 24 months.

The development comes a week after the company received regulatory approval to install a 100 MW Battery Energy Storage System in Mumbai. The Maharashtra Electricity Regulatory Commission gave the nod for the system to be deployed across 10 sites near critical load centres.

Shares of Tata Power climbed as much as 4.4% on Tuesday to Rs 380.50 on the BSE

Quicklinks

April 15, 2025

Trump trade guru insists recession is '100% not happening'

(20 second reading) President Donald Trump's National Economic Council director Keven Hassett on Monday disputed that the president's tariff agenda would trigger a recession.

When asked by Fox Business host Maria Bartiromo if the United States could expect a recession in 2025, he replied, '100 percent not. 100 percent not.'

'If you look at the jobs numbers, they're very, very strong,' he said.

Hassett said the conversations he had with business CEOs indicated that they were investing in manufacturing in the United States which would only grow the economy

 

Quicklinks

April 15, 2025

Ashoka Buildcon emerges as lowest bidder for Rs 569-crore railway project

Ashoka Buildcon shares are in focus on Tuesday after the company emerged as the lowest bidder for a railway project worth Rs 568.86 crore (excluding GST), floated by the Central Railway.

The project involves gauge conversion work along the 53.3-km stretch between Pachora and Jamner in Maharashtra. The scope includes construction of earthwork, major and minor bridges, road under bridges (RUBs), permanent way (P-Way) work, and other civil works—excluding Pachora Yard and road over bridges.

The execution timeline for the project is 30 months.

This marks the second major order win in just over a month for the construction engineering firm. On March 10, Ashoka Buildcon announced that it had secured a Letter of Acceptance from Maharashtra State Electricity Transmission Co Ltd (MSETCL) for a turnkey substation and transmission line project valued at Rs 311.92 crore, including GST.

Quicklinks

April 15, 2025

IRCON International shares in focus on fresh order win

Shares of IRCON International, are in focus on Tuesday it  has received a significant order valued at Rs 127.80 crore from S&T (Construction) of the North Western Railway, Indian Railways.

The project involves the design, manufacture, supply, installation, testing, and commissioning of a microprocessor-based EI system. This ambitious project is set to be executed within 24 months from the issuance of the letter of acceptance. It encompasses work across 20 stations in the Ajmer Division, featuring automatic block signalling and related signalling and telecom systems. This order comes amid challenging financial results for IRCON.

Quicklinks

April 10, 2025

Mahindra delivers 3,000 XEV 9e and BE 6

(20 second reading) Mahindra has delivered 3,000 units of its newly launched XEV 9e and BE 6 electric SUVs across India in under a month since deliveries began on March 20. The XEV 9e starts at Rs.21.90 lakh, going up to Rs.30.50 lakh for the top variant. Meanwhile, the BE 6 is priced from Rs.18.90 lakh to ₹26.90 lakh (ex-showroom). The strong early response signals rising demand for Mahindra’s next-gen EV lineup.

Quicklinks

April 10, 2025

BEL wins Rs 2,210 crore order from Defence Ministry

Bharat Electronics (BEL) may snap its two-day losing streak after bagging a Rs.2,210 crore contract from the Indian Air Force to supply Electronic Warfare (EW) Suites for Mi-17 V5 helicopters. Developed with DRDO’s CASDIC, the suite includes radar and missile warning systems to boost combat survivability. BEL’s total orders for the year now stand at ₹2,803 crore

Quicklinks

April 10, 2025

India Becomes 3rd-Largest Generator Of Solar Power

India became the world’s third-largest producer of electricity from wind and solar in 2024, overtaking Germany, according to Ember’s Global Electricity Review. Wind and solar made up 10% of India’s power mix, while clean sources overall contributed 22%. Globally, renewables hit a new record, generating 15% of electricity and pushing low-carbon sources above 40% for the first time since the 1940s.

Quicklinks

April 10, 2025

Garden Reach Shipbuilders wins order worth Rs.490 crore 

Garden Reach Shipbuilders & Engineers has bagged a Rs.489.98 crore order from the Geological Survey of India to design and deliver two coastal research vessels within 26 months. On April 8, it also signed an MoU with SWAN Defence to strengthen India’s commercial shipbuilding and offshore capabilities. Last month, the company signed another MoU with PWD Nagaland to supply eight modular steel bridges in the state.

Quicklinks

April 10, 2025

BPCL forms JV with Sembcorp to boost green hydrogen 

BPCL shares will be in focus as Bharat Petroleum and Sembcorp Green Hydrogen India form a 50:50 joint venture to develop renewable energy and green hydrogen projects across India. The JV will also explore green ammonia, bunkering, and emission-reduction tech for ports. The partnership combines Sembcorp’s renewables expertise with BPCL’s infrastructure strength to drive clean energy growth in hard-to-abate sectors.

Quicklinks

April 10, 2025

Tata Steel to cut around 20% of Dutch staff

Tata Steel announced plans to cut around 1,600 jobs in the Netherlands, about 20% of its Dutch workforce, mainly at the IJmuiden plant near Amsterdam. The move aims to boost profitability amid rising U.S. tariffs and tough competition from Chinese imports. Most of the cuts will affect management and support roles as Tata looks to streamline operations. The Dutch arm posted a €556 million loss in the year ending March 2024, driven by high energy costs and falling margins.

Quicklinks

April 10, 2025

CSL talks with Korean, Japanese firms

(20 second reading) Cochin Shipyard Ltd (CSL) is in talks with top South Korean and Japanese firms to set up a large-scale shipbuilding facility in Kochi, aiming to position the city as a global hub for shipbuilding and repair. This initiative could bring major investments and create thousands of jobs. CSL has also signed an MoU with Drydocks World, a DP World subsidiary, to develop ship repair clusters in Kochi and Vadinar (Gujarat). This builds on CSL’s recently operational International Ship Repair Facility launched in August 2024 at Willingdon Island.

Quicklinks

April 10, 2025

Sun Pharma can now launch Leqselvi in the US

Sun Pharmaceuticals Industries Ltd on Thursday, April 10 said the US Court of Appeals for the Federal Circuit has ruled in favour of the company and vacated its preliminary injunction of delaying the launch of Leqselvi (deuruxolitinib), effective immediately.

The medication is intended for treating severe alopecia areata.

Sun Pharma said it will disclose its launch plans in due course of time.

Quicklinks

April 10, 2025

NPST secures Central Bank contract

Network People Services Technologies (NPST) has informed that it has secured a strategic contract from the PSU lender to deploy its flagship Qynx platform, which is an industry-leading Payment Platform-as-a-Service (PPaaS) offering.

India’s leading provider of banking and payment technology solutions NPST has been picked by Central Bank after a competitive selection process. The PSU lender has awarded the NSE-listed company a significant 40 per cent share of the nationwide initiative aimed at expanding India’s offline digital payments infrastructure.

Quicklinks

April 10, 2025
Lexus India reports 19 pc retail sales growth in FY25 Lexus India reported a 19% rise in retail sales for FY25 and a 17% increase in Q4 year-on-year. While it didn’t disclose exact figures, the NX SUV led growth in the January–March quarter. The brand also logged its highest-ever monthly sales in March 2025, with a 61% jump compared to March 2024, underscoring strong demand for luxury vehicles.

April 9, 2025

JLR evaluating various steps to respond to US tariffs

Tata Motors said its unit Jaguar Land Rover (JLR) is evaluating various steps to respond to the tariff announced by the US on April 2, 2025

JLR is evaluating various options to suitably address impact of the increased tariff in the US market and the aforesaid news article refers to its immediate response.

JLR is deeply entrenched in the American market.

About 23 per cent of JLR's over 4 lakh units sold in FY24 were in the US. These were all exported from its UK plants. Auto experts believe the company will first of all setup assembly unit in USA.

 

Quicklinks

April 9, 2025

Sonalika clocks highest-ever annual tractor sales in FY25

Leading tractor manufacturer, Sonalika, registered its highest-ever annual tractor sales in the domestic market at over 1,23,000 units in FY25, driven by its heavy-duty range, including Tiger and Sikander DLX.

While Sonalika clocked record domestic sales, its parent, International Tractors Ltd (ITL), posted the best-ever annual overall sales of more than 1,53,000 units in FY25.

Quicklinks

April 9, 2025

Brigade Group to develop luxury residential project in Mysuru

(30 second reading) Realty major Brigade Group is set to build a luxury residential project in Mysuru. For this new premium residential living, the real estate company has signed a deal to develop 10 acres and 37 guntas of prime land through a JDA.

Brigade Group’s new residential project in Mysuru has a gross development value (GDV) of around Rs 225 crore. The project also has a total development potential of 0.37 million square feet.

This new residential project will feature premium plots spanning over 8 acres, and premium apartments spread over 2 acres. It has been designed to cater to the aspirations of modern homebuyers seeking a harmonious blend of luxury, convenience, and community living.

The project is strategically located in the heart of Mysuru and has good access to the Bengaluru-Mysuru highway, making it both a convenient and aspirational address.

Quicklinks

April 9, 2025

BEL stock allies 5% after mega Airforce deal

(20 second reading) BEL has secured a Rs 2,210 crore order to supply an advanced Electronic Warfare (EW) Suite for the Mi-17 V5 helicopters of the IAF.

The EW Suite – developed by the Defence Research and Development Organisation (DRDO) unit CASDIC and manufactured by BEL – includes a Radar Warning Receiver (RWR), Missile Approach Warning System (MAWS), and Counter Measure Dispensing System (CMDS). These systems are expected to enhance the helicopter’s combat survivability by defending against enemy threats in the sky.

With this, BEL has now accumulated orders totalling Rs.2,803 Crores in the current financial year

Quicklinks

April 9, 2025

Cyient enters semiconductor design service

Cyient, a leading global engineering and technology solutions company, on April 8 announced the launch of its fully owned semiconductor subsidiary, Cyient Semiconductors.

Cyient Semiconductors will focus on scaling Application-Specific Integrated Circuit (ASIC) turnkey solutions for customers. For more than 25+ years, Cyient has been delivering comprehensive ASIC turnkey solutions and semiconductor design services across industrial, data center applications, automotive, and medical. Driven by strategic organic and inorganic growth, Cyient Semiconductors has built high-performance teams across India, the U.S., Germany, Belgium, the Netherlands, and Taiwan.

Quicklinks

April 8, 2025

Pakistan Stock Exchange suspends trading

(20 second reading) Pakistan's benchmark share index- Karachi Stock Exchange (KSE)- slumped 6 per cent, or more than 7,200 points on Monday following the tumble in global markets, which led to suspension of trading in the index. A 45-minute market halt was triggered amid the rampant selloff across the globe.

The benchmark index rose last week after Pakistan slashed energy tariffs for domestic and industrial users, despite global markets plunging following the US decision to place new tariffs on trade with countries. However, the index managed to post marginal recovery as the trading resumed.

Quicklinks

April 7, 2025

Japan's MUFG nears deal to acquire Yes Bank's stake from SBI, others

Japan’s MUFG Bank is nearing a deal to acquire a stake in Yes Bank, with the private lender valued at $6.5-7 billion, according to The Hindu Businessline. MUFG is in talks with State Bank of India, which holds the largest stake in Yes Bank, and other investors. The deal could see MUFG first acquire SBI’s stake, eventually gaining a majority. Yes Bank reported a net profit of Rs 612.3 crore for Q3 FY2025, up 168% from last year, with a 10.2% increase in net interest income.

Quicklinks

April 7, 2025

Repeat of Black Monday 1987 feared

On Black Monday, October 19, 1987, markets worldwide crashed, with the US Dow Jones Industrial Average plunging 22.6%.

Fast-forward nearly a century. On Sunday, April 6, 2025, Jim Cramer, an American TV personality and market analyst, warned of a similar 'bloodbath' on Monday, April 7, owing to US President Donald Trump's tariff tantrums. Cramer encouraged the POTUS to 'reach out' to countries that have not imposed retaliatory tariffs.

October 19, 1987, also known as 'Black Monday', saw the Dow Jones Industrial Average (DJIA) plummet by 22.6% in just one day. This event triggered a global stock market downturn, cementing Black Monday as one of the most infamous days in financial history. The S&P 500 experienced an even steeper decline, falling 30% on the same day.

Quicklinks

April 7, 2025

Tesla's entry will help grow EV market: BMW

BMW Group India is unfazed by the prospect of Tesla entering the electric vehicle market here and feels it will help grow the segment, according to its Managing Director and CEO Vikram Pawah.

The group, which sold a total of 1,249 units of electric cars in India across two brands — BMW and MINI — has already sold 646 units in the first quarter of 2025 and is keeping its forecast of 15 per cent of its total sales in India coming from EVs, Pawah told. When asked about competition from the American electric car maker, Pawah said,”In all the markets in the world, we coexist. 

Quicklinks

April 7, 2025

Ecom Express — Delhivery swoops in with Rs 1407 crore deal

Logistics giant Delhivery will acquire Ecom Express for Rs 1,407 crore, according to a regulatory filing. The deal, structured through a Share Purchase Agreement, will make Ecom Express a subsidiary. Expected to close within six months, the acquisition supports Delhivery’s goal to enhance speed, reach, and cost-efficiency in India’s logistics sector. Delhivery's CEO, Sahil Barua, praised Ecom Express's strong network and team as key to seamless integration into Delhivery’s operations.

Quicklinks

April 7, 2025

UltraTech Cement acquires Wonder WallCare for Rs 235 crore

(20 second reading) UltraTech Cement is set to acquire Wonder WallCare, a wall putty manufacturer, for up to Rs 235 crore as part of its expansion strategy. The acquisition will enhance UltraTech's portfolio of value-added products. Wonder WallCare, a subsidiary of Wonder Cement, operates one of India’s largest putty plants in Rajasthan, with a capacity of 600,000 tonnes per year. The deal, subject to regulatory approvals, is expected to close within 90 days. Wonder WallCare's revenue grew significantly from Rs 20.36 crore to Rs 78.61 crore in FY 2023–24.

Quicklinks

April 3, 2025

BEL bags order win from Indian Air Force

(20 second reading) Bharat Electronics Ltd (BEL) secured a Rs.593.22 crore contract from the Indian Air Force for comprehensive maintenance of the Akash Missile System, which it originally supplied. The contract highlights BEL's key role in India's defence and after-sales support. Despite this, BEL’s stock dropped 3.34% to Rs. 282.70, with a market cap of Rs. 2.06 lakh crore. Over the past two and three years, the stock has delivered impressive returns of 189.49% and 294.36%, respectively.

Quicklinks

April 3, 2025

Kirloskar Oil signs Rs. 270 crore deal with Indian Navy

(20 second reading) Kirloskar Oil Engines shares rose 4% in early trading on Thursday, hitting ₹765, after securing a Rs. 270 crore order from the Defence Ministry. The company will design and develop a 6MW Medium Speed Marine Diesel Engine under the Indian Navy's Make-I category for indigenous engine development. The agreement, signed on April 2, 2025, in New Delhi, was attended by Defence Production Secretary Sanjeev Kumar and Vice Admiral Krishna Swaminathan.

Quicklinks

April 3, 2025

Shree Cement commissions grinding unit in Uttar Pradesh

(20 second reading) Shree Cement has launched a new state-of-the-art plant in Etah, Uttar Pradesh, with an investment of Rs.850 crore. The plant will utilize 100% fly ash from the nearby Jawaharpur Thermal Power Plant, processing around 5,000 tons daily. With an annual capacity of 3 MTPA, this unit will be one of the region's largest grinding facilities. Fully funded through internal accruals, it is expected to generate over 500 direct and indirect jobs, boosting local employment.

Quicklinks

April 3, 2025

Shakti Pumps wins order for solar PV water pumping systems

(20 second reading) Shakti Pumps (India) Ltd announced on April 3 that it has received a Rs. 12.42 crore order from the Maharashtra Energy Department for 445 off-grid solar water pumping systems. This order, part of the PM-KUSUM scheme, covers the design, supply, installation, and commissioning of the systems across Maharashtra within 120 days. Additionally, the company’s subsidiary, Shakti Energy Solutions, has secured 113 acres in Madhya Pradesh for a new solar cell and PV module manufacturing facility.

Quicklinks

April 3, 2025

Paras defence inks MoU with Israeli company

(20 second reading) Paras Defence and Space Technologies has signed an MoU with Israel's MicroCon Vision, part of the Controp and Rafael Group, to introduce advanced drone camera technology to India. The partnership positions Paras Defence as the exclusive supplier of these technologies at significantly reduced costs. By incorporating indigenous components into drone cameras and ISR payloads, the company aims to boost self-reliance and affordability. The new models, usually priced at Rs 20-40 lakh, will see a price reduction of 50-60%, making them more accessible for both Indian defence forces and commercial use.

 

Quicklinks

April 3, 2025

Jupiter Wagons to develop India's first private railwheel and axle forging plant

(20 second reading) Leading manufacturer of railway wagons, wagon components and castings, Jupiter Wagons Limited on Thursday (April 3) said its subsidiary Jupiter Tatravagonka Railwheel Factory Private Ltd (JTRF) has acquired land in Haldiapada, Khordha, Odisha, for setting up India’s first private-sector Railwheel and axle forging plant.

Jupiter Tatravagonka plans to invest ₹2,500 crore in phases over the next few years to develop this state-of-the-art facility. The plant is expected to produce 100,000 forged wheelsets annually and will cater to both domestic and international markets, with nearly 50% of production earmarked for exports, primarily to Tatravagonka A.S., a leading Slovakian rail infrastructure company, and other European firms.

Quicklinks

April 2, 2025

KEC International bags new orders worth Rs 1236 crore

(20 second reading) Shares of KEC International will be in focus on Wednesday after securing new orders worth Rs 1,236 crore in domestic and international markets. The Transmission & Distribution (T&D) segment won orders for transmission lines and substations in the UAE, Kuwait, and India. The civil business received a residential project order from a private developer in Western India, while the transportation segment secured an order under India's "Kavach" Train Collision Avoidance initiative. The company’s cable business also won orders abroad. This brings the total FY25 order intake to a record Rs 24,600 crore, a 36% YoY growth.

Quicklinks

April 2, 2025

Solid fresh orders for GPT Infraprojects

(20 second reading) Shares of GPT Infraprojects Ltd rose over 11% in the afternoon session on Wednesday after the firm said the company has received a contract worth Rs 481.11 crore. GPT Infraprojects shares zoomed 11.14% to a fresh high of Rs 133.60 against the previous close of Rs 120.20 on BSE. Market cap of the firm rose to Rs 1585.24 crore. Total 0.36 lakh shares of the firm changed hands amounting to a turnover of Rs 46.41 lakh on BSE today. GPT Infraprojects stock has a one-year beta of 1.4, indicating very high volatility during the period

Quicklinks

April 2, 2025

Tata Motors reports 5% drop in March sales

(20 second reading) Tata Motors reported a 5% YoY drop in sales for March 2025, with total sales at 2,52,642 units, down from 2,65,090 units in March 2024. Despite this, the company is optimistic about FY26, expecting growth from higher fleet utilization, lower crude oil prices, and infrastructure investment. The passenger vehicle segment saw a 6% decline, but SUVs dominated with 55% of new sales. CNG vehicle demand rose 35%, and electric vehicles showed promise. In the commercial vehicle segment, sales fell 3%, though exports grew 30%.

Quicklinks

April 2, 2025

SAR Televenture acquires majority stake in Tikona Infinet

(20 second reading) NSE-listed SAR Televenture Limited has acquired a majority stake in internet provider Tikona Infinet Limited through a Rs 578-crore share swap deal. This acquisition makes SAR Televenture the third-largest player in the enterprise broadband sector, expanding its footprint in the fast-growing connectivity market. Tikona, with licenses for broadband, leased lines, and VPNs, serves customers in 25+ cities. Managing Director Rahul Sahdev emphasized the deal's importance in strengthening SAR’s portfolio of high-speed broadband, fiber-optic, and 4G/5G services, enhancing connectivity across India.

Quicklinks

April 1, 2025

Goldman Sachs raises US recession probability

(20 second reading) Goldman Sachs has raised its 12-month recession probability to 35%, up from its earlier estimate of 20%, citing weaker economic conditions and escalating trade tensions. In a recent research report, the global investment bank lowered its growth forecast for 2025, led by an increase in US tariff rates and weaker-than-expected economic performance.

Consequently, Goldman Sachs has raised its year-end 2025 core PCE inflation forecast by 0.5pp to 3.5%.

The weaker growth forecast has led to a 0.3pp increase in the unemployment rate projection for the end of 2025, now expected to be 4.5%.

Consequently, S&P 500 earnings growth estimates for 2025 have also been reduced from +7% to +3%, with a weaker outlook for the coming years.

Quicklinks

April 1, 2025

Tata Motors launches New Land Rover Defender OCTA at Rs 2.59 Crore
 Most Powerful and Luxurious Defender Yet

(20 second reading) Land Rover from Tata Motors, has introduced the New Defender OCTA in India, positioning it as the most rugged, capable, and luxurious SUV in the Defender lineup. Designed for extreme off-road adventures while maintaining premium comfort, the high-performance SUV is built to tackle any terrain with confidence. Priced at Rs 2.59 crore (ex-showroom), the Defender OCTA will soon be available for bookings. Additionally, the Defender OCTA Edition One, an exclusive launch version available for the first year of production, is priced at Rs 2.79 crore (ex-showroom) in India.

The New Defender OCTA takes performance and capability to new heights, making it the most advanced Defender yet. 

Quicklinks

April 1, 2025

L&T Technology Services inks deal worth €50 million with European automotive OEM

(20 second reading) Shares of L&T Technology Services are in focus after the company said it has signed a deal worth €50 million with a renowned European automotive original equipment manufacturer (OEM).

The deal focuses on the development and operation of next-generation software platforms tailored to both current and upcoming vehicle models, LTTS said. The deal also includes the establishment of a development centre, which will play a critical role as part of the client's global right shoring strategy, it added.

LTTS said it secured this deal through its expertise in software defined vehicle (SDV) development, advanced driver assistance systems (ADAS, and software defined everything (SDe).

Quicklinks

April 1, 2025

Musk's Neuralink will have its first Blindsight implant

(20 second reading) Billionaire Elon Musk announced that his brain chip company, Neuralink, will have its first implant of Blindsight by the end of 2025. The artificial visual prosthesis aims to restore eyesight for blind people.

“We’re hoping, later this year, to have a first device implant for humans, enabling someone who is completely blind to see,” Musk said in response to a question by an audience member at his Town Hall held in Wisconsin, US, on Sunday (Mar 30) night.

Quicklinks

April 1, 2025
Renault buys Nissan’s entire stake in India unit The Renault Group on Monday announced acquiring the entire 51% stake of Nissan in Renault Nissan Automotive India (RNAIPL), becoming its sole owner. The deal will not impact Nissan’s operations in India — existing and future production, and new model roll-outs — or lead to any workforce restructuring, a senior company official said at a press conference. The deal, which is expected to be completed by the end of the first half of this year and  financial details of which were not disclosed, further loosens the two-decade-old partnership between French auto major Renault and Nissan and is aimed at making the Japanese carmaker “leaner and more agile”.

April 1, 2025

Aditya Birla group sells pulp & paper biz to ITC for Rs 3,500 crore

(20 second reading) Aditya Birla Real Estate Ltd (ABREL) will sell its pulp and paper business – Century Pulp and Paper (CPP) -- located at Lalkuan in Uttarakhand by way of slump sale to ITC Limited for Rs 3,498 core.

ABREL said in a statement on Monday that the divestment of the pulp and paper undertaking is a value unlocking exercise for ABREL. “It will further enable the company to pursue growth opportunities in its core business—real estate,” it said.

Quicklinks

March 31, 2025

Gandhi family of Vadilal Inds settles family dispute

(20 second reading) Vadilal Industries Limited, the Rs 1,200-crore ice-cream and frozen food manufacturer, has announced a major restructuring plan aimed at resolving long-standing family disputes and securing the future of its iconic brand. The restructuring includes a family settlement, board reshuffle, and the merger of key promoter entities, according to the company’s exchange filing on Sunday

As part of the settlement, the Gandhi family has opted to separate ownership from management.

 

Quicklinks

March 31, 2025

Mahindra signs to supply 1,986 Scorpio Pik-Ups to the Indian Army

(20 second reading) The Mahindra Scorpio Pik-Up will now join the Indian Armed Force. Mahindra Automotive has recently revealed that it has signed a ₹2,700 crore contract with the Indian Armed Force to supply 1986 units of the Scorpio Pik-Up.

Interestingly, with this, the company will now be supplying over 4,000 units of Scorpio Pik-Ups, Scorpio Classic, Scorpio-N, and Bolero Pik-Up 4WDs. Moreover, the Indian Army will also have more than 7000 Mahindra Scorpio SUVs. Earlier in the month, it was announced that 2,978 units of Force Gurkha will be inducted into the Indian Armed Force fleet.

Quicklinks

March 31, 2025

Newgen Software arm secures $1.58 million order

(20 second reading) Newgen Software Technologies Pte. Ltd., a wholly owned subsidiary of the Newgen Software Technologies Ltd., has executed an agreement with a customer. The aggregate value of the aforesaid agreement is $1.58 million.

The order is to be completed within three years

For the December quarter, the company's net profit stood at ₹89 crore, up from ₹68 crore in the same period last year, driven by strong operational performance and improved margins.

Quicklinks

March 29, 2025

Prestige Estates to invest Rs 1625 crore in hospitality business

Prestige Estates Projects Ltd has approved an investment of up to Rs 1,625.04 crore in its wholly-owned subsidiary, Prestige Hospitality Ventures Ltd (PHVL), through a rights issue. The investment, which will be carried out in one or more tranches, aims to strengthen PHVL’s hospitality business, which focuses on developing and operating hospitality projects.

PHVL, incorporated in 2017, reported a turnover of Rs 4,161 crore for the financial year ended March 31, 2024.

Quicklinks

March 29, 2025

Asian Paints Dahej Capex increase by 26% jump

Paint maker Asian Paints has announced to increase its capital expenditure (Capex) for its upcoming manufacturing facility in Dahej, Gujarat. The company has increased its capex by a whopping 26%.

The board has approved an additional capex of Rs 690 crore for its Dahej facility. As per the filing, the company's wholly owned subsidiary - Asian Paints (Polymers) (APPPL) will be injecting the capex amount for different projects. The paint major further noted that the cost of the project would be funded through a combination of equity funding by the Company in APPPL and external debt financing.

Quicklinks

March 29, 2025

Waaree Energies inaugurates 5.4 GW solar cell facility

Waaree Energies said it inaugurated its advanced 5.4 GW solar cell gigafactory facility in Chikhli, GUjarat.

The facility is spread across 150 acre and has a built-up area of 101 acre. It is equipped with high-efficiency solar cell technology. The company said it will also create 9,500 direct jobs and around 30,000 indirect employment opportunities.

 

Quicklinks

March 28, 2025

HBL Engineering bags Rs.500 crore KAVACH order

(20 second reading) HBL Engineering Ltd shares rose 3% on Friday after securing nearly ₹500 crore in railway contracts through the 'HBL-Shivakriti International Consortium,' with HBL as the lead member. The company received two Letters of Acceptance (LoAs) for installing KAVACH, India's indigenous train protection system, on major railway routes. The first contract, worth ₹244.68 crore, covers the Viramgam-Rajkot-Okha section, while the second, valued at ₹255 crore, is for the Dholpur-Bina section. Both projects have completion timelines of 730 and 700 days, respectively.

Quicklinks

March 28, 2025

Tata Motors enters Mauritius

Tata Motors has announced that they are entering the Mauritian market with the launch of their EV portfolio that consists of Tiago EV, Punch EV and Nexon EV. The homegrown manufacturer has partnered with Allied Motors and this marks Tata Motors’ first international expansion beyond the SAARC region.

All of the aforementioned products are backed by a manufacturer's warranty of 8 years or 1,60,000 kilometers for the battery and motor, and 7 years or 1,50,000 kilometers for the vehicle itself. 

Quicklinks

March 28, 2025

Ashok Leyland bags defence orders worth Rs 700 crore

Hinduja Group’s Ashok Leyland on Friday announced that its defence business has secured multiple orders worth Rs 700 crore. The company further said that the vehicles under the order will be used for troop transportation, logistics, and other specialised mobility requirements under the Close-in Weapon Systems (CIWS) program.

These include a diverse range of specialized vehicles, including the Stallion 4x4, Stallion 6x6, Short Chassis Bus, and Mobility System Travelling Platform.

Quicklinks

March 28, 2025

ASK Group gets SEBI nod to launch mutual fund business

Blackstone-backed ASK Asset & Wealth Management Group has received in-principle approval from the Securities and Exchange Board of India (SEBI) to start its mutual fund business.

ASK plans to offer research-driven mutual fund solutions to Indian investors as part of its expansion into the mutual fund space. The new offering will complement ASK’s existing portfolio, which includes listed equity portfolio management, alternates, and wealth management.

Quicklinks

March 27, 2025

Bharat Forge's arm forms joint venture in Spain for defence collaboration

(20 second reading) Bharat Forge Limited said its wholly owned subsidiary, Kalyani Strategic Systems Limited (KSSL), has entered into a JV agreement with Spain-based Duma Engineering Group S.L. (DUMA) to establish a new defence-focused joint venture company in Spain.

The JV aims to develop technology, product platforms, and solutions catering to the defence needs of India, Europe, and select export markets.

Quicklinks

March 27, 2025

Adani Energy acquires Mahan Transmission

 Adani Energy Solutions announced the acquisition of a project special purpose vehicle Mahan Transmission, which will evacuate 1,230 MW power from Adani Power's upcoming 1,600 MW expansion units at Mahan in Singrauli district of Madhya Pradesh. Adani Energy has executed share purchase agreement with REC Power Development and Consultancy Ltd for acquiring 100 per cent equity shares of Mahan Transmission Ltd (MTL).

The share price on Thursday (March 27) zoomed nearly 9 per cent, after the announcement.

 

Quicklinks

Adani Energy acquires Mahan Transmission

March 27, 2025

Canada steel, aluminum plants lay off workers due to US tariffs

Hundreds of Canadian workers, many in the steel and aluminum sectors, have been laid off as a result of U.S. President Donald Trump's tariffs, according to a major union and companies.

Economists warned this was only the beginning as the impact of tariffs is expected to broaden the longer they are in place. Uncertainty surrounding Trump's policies has cast a chill over Canada's economy and labour market.

The workforce reduction is a combination of permanent layoffs, temporary layoffs, work share and retirements. Canada is the top supplier of steel to the U.S.

Quicklinks

March 27, 2025
HIL rebrands as BirlaNu (20 second reading) HIL Limited, a subsidiary of the $3 billion CK Birla Group, has officially rebranded itself as BirlaNu Limited and is planning to invest $150 million, aiming to become a $1 billion company by 2028, the company said in a release.The company has 32 manufacturing facilities across India and Europe, with customers and partners in over 80 countries. Avanti Birla, President, BirlaNu, said, "Our new identity, BirlaNu, reflects who we are at our core--a company who is always pushing forward. We're in this business because we believe in quality, innovation and making things that last.

Quicklinks

March 27, 2025

BNP Paribas maintains "outperform" rating for L&T

(20 second reading) Shares of Larsen and Toubro (L&T) rose 1.6% to Rs 3,499 on March 27 after BNP Paribas reaffirmed its "outperform" rating, citing optimism for a stronger year ahead. Over the past month, L&T's stock has surged 8%, outperforming the Nifty 50's 5% gain. Analysts noted a strong start to CY25.

Quicklinks

BNP Paribas maintains "outperform" rating for L&T

March 27, 2025

Wipro wins $650-million deal from UK insurer Phoenix Group

IT major Wipro on March 26 announced that it has secured a 10-year strategic deal worth approximately $650 million with Phoenix Group, the UK's largest long-term savings and retirement business.

"The project is designed to deliver life and pension business administration for the ReAssure business and accelerate Phoenix Group’s operational transformation

These services will encompass Policy Administration, Claims Processing, Customer Service Support, Data Management and Reporting, Compliance and Regulatory Support, as well as Platform Technologies.

 

 

Wipro wins $650-million deal from UK insurer

March 27, 2025

Siemens India separates energy business

(20 second reading) NCLT has given its approval for the demerger of the Siemens and Siemens Energy India Ltd.

The equity allotment ratio for this demerger has been fixed as 1:1, which means that Siemens shareholders will receive one equity share each of Siemens Energy India for every one share that the own as of the record date.

The record date to determine the allotment eligibility has been fixed as April 7, 2025. Appointed date for the demerger is March 1, 2025 and the demerger is effective from March 25.

Siemens Energy India will be listed on the stock exchanges separately. The company said this will lead to value unlocking.

Quicklinks

Siemens India separates energy business

March 27, 2025

US imposed 25% tariff on auto imports

(20 second reading) US President Donald Trump on Wednesday announced a 25% tariff on auto imports, in a move set to raise tensions with the trading allies.

The tariff is set to come into effect starting April 2, as announced earlier. The latest move is likely to impact foreign-made cars and light trucks, besides existing tariffs on such goods.

“What we’re going to be doing is a 25 percent tariff on all cars that are not made in the United States. If they’re made in the United States, it is absolutely no tariff,” Trump said at the White House.

 

Quicklinks

US imposed 25% tariff on auto imports

March 26, 2025

IREDA board approves Rs 30,800 crore borrowing plan

The shares of IREDA were in focus on March 26 after the company announced that its board has approved the plan to raise up to Rs 30,800 crore for financial year 2025-2026

The increase in borrowing will be through instruments like taxable bonds, perpetual debt instruments, term loan from banks, lines of credit from international agencies, external commercial borrowing, short terms loans from banks and more.

Quicklinks

IREDA board approves Rs 30,800 crore borrowing plan

March 26, 2025

February domestic traffic up 11% on-year

Domestic air traffic rose 11 percent year on year to 14.04 million passengers, according to data released by the DGCA. Fewer people flew in February than in January when passenger traffic stood at 14.61 million.

IndiGo was the most punctual airline operating in India in February 2025, for the third straight month in a row, data from the aviation regulator Directorate General of Civil Aviation showed.

Quicklinks

February domestic traffic up 11% on-year

March 26, 2025

Godrej Properties Acquires 6.54 Acres For Rs 717 Crore

(20 second reading) Godrej Properties Ltd has acquired three contiguous land parcels on lease from the CIDCO in Navi Mumbai’s Kharghar. The total land area is 26,478 square meters, with a total value of Rs 716.58 crore. All the transactions were registered in March 2025.

Navi Mumbai is currently witnessing a significant surge in real estate activity, largely attributed to extensive infrastructure upgrades in the region. The operational status of the Atal Setu and the impending completion of the Navi Mumbai International Airport (NMIA) are pivotal factors driving this increased demand for residential and commercial properties.

Quicklinks

Godrej Properties Acquires 6.54 Acres For Rs 717 Crore

March 26, 2025

Maruti Suzuki approves third plant in Haryana

(20 second reading)In a move to boost its production capacity, Maruti Suzuki’s Board approved the establishment of a third plant at Haryana’s Kharkhoda. The new facility will add up to 2.5 lakh vehicles per year to the company’s output.

Currently, the Kharkhoda plant produces an annual capacity of 2.5 lakh units, with a second plant under construction, also set to produce another 2.5 lakh units annually. With the addition of this third plant, the total capacity at Kharkhoda is expected to reach 7.5 lakh vehicles per year by 2029,

According to the company, the investment required for this capacity addition is pegged at Rs 7,410 crore.

Quicklinks

Maruti Suzuki approves third plant in Haryana

March 26, 2025

Jyothy Labs sold entire equity stake in Jyothy Kallol Bangladesh

Jyothy Labs Limited has announced the sale of its entire 75% equity stake in Jyothy Kallol Bangladesh Limited (JKBL) to Kallol Enterprise Limited for an aggregate consideration of BDT 3,01,92,134. The transaction was approved by the company’s Board of Directors in a meeting held on March 25, 2025.

Following the sale, JKBL has ceased to be a subsidiary of Jyothy Labs with immediate effect. The company has also executed a Share Purchase Agreement (SPA) with Kallol Enterprise Limited, which previously held a 25% stake in JKBL.

Quicklinks

Jyothy Labs sold entire stake in Jyothy Kallol Bangladesh

March 26, 2025

Bharat Dynamics bags Rs.4,362 crore order from Defence Ministry

Shares of Bharat Dynamics Ltd., the Miniratna defence PSU, has surged as much as 4% in Wednesday's trading sessions. The stock has hit an intraday high of Rs.1,357.70.

The upmove in the stock price came after the state-run company announced that it has bagged an order worth Rs.4,362.23 crore for supply of armaments to the Indian Armed forces from the Ministry of Defence.

Quicklinks

Bharat Dynamics bags Rs.4,362 crore

March 25, 2025

Kalpataru Projects secures orders of Rs 2,366 crore

Shares of Kalpataru Projects International Ltd (KPIL) surged 5.42 per cent in Tuesday's trade to hit a high of Rs 1,032.60 after the company bagged orders with a combined value of Rs 2,366 crore. 

"KPIL, along with its international subsidiaries, have secured notification of awards / comfort letters of approx. Rs 2,366 crore. The details of the aforesaid new orders are as follows: Orders in the Transmission and Distribution (T&D) business in India and overseas market; Order in the Buildings and Factories (B&F) business in India," Kalpataru stated in an exchange filing.

Manish Mohnot, MD & CEO at KPIL, said, "With these new orders, our order intake till date in FY25 has reached Rs 24,850 crore"

Quicklinks

Kalpataru Projects secures orders of Rs 2366 crore

March 25, 2025

Arvind SmartSpaces sells out entire inventory at Bengaluru project launch with ₹180-crore booking value

(20 second reading) Realty firm Arvind Smartspaces Ltd on Tuesday said it has sold the entire launched inventory of 200 plots at its Arvind The Park residential project in Devanahalli, Bengaluru, generating a booking value of over ₹180 crore at launch.

Arvind The Park offers a luxurious lifestyle with an executive-level golf course and premium amenities. Buyers will receive membership to Monogram by Arvind Lounges and Resorts, a fully-integrated resort featuring a gymnasium, rooftop infinity pool, indoor games room, table tennis, jogging track, badminton court, spa, library, restaurant, executive business centre, multimedia theatre, discotheque, yoga pavilion, butterfly park, and barbeque deck.

“This is our third plotted project in Devanahalli following the success of Arvind Greatlands and Arvind Orchards," he added.

Quicklinks

Arvind SmartSpaces sells out entire inventory at Bengaluru

March 25, 2025

RVNL won Rs 116 crore CR contract in Nagpur

Rail Vikas Nigam Ltd. (RVNL) shares rallied 3.35% to their day’s high of Rs 384 on the BSE on Tuesday after the company emerged as the lowest bidder (L1) for a Rs 115.79 crore contract from Central Railway’s Nagpur division.

"Rail Vikas Nigam Limited has emerged as the Lowest Bidder (L1) for OHE modification work to upgrade the existing 1x25 KV electric traction system to 2x25 KV at the feeding system in the Itarsi-Amla section of the Nagpur division to meet a 3,000 MT loading target," the company said in an exchange filing.

Quicklinks

RVNL won Rs 116 crore CR contract in Nagpur

March 25, 2025

Engineers India wins contracts worth Rs.730 crore

Engineers India Ltd on Tuesday, March 25, said it has won two contracts worth Rs.730 crore from Middle East clients.

The contracts are for PMC services and for engineering and project management services. The former is worth Rs. 650 crore and is for a five-year period, while the latter is worth ₹8 crore and for a four-year period.

 

Quicklinks

March 24, 2025

Godrej Properties buys 10 Acres Land In Bengaluru

(20 second reading) Godrej Properties shares were in focus on Monday following its acquisition of approximately 10 acres of land in Yelahanka, Bengaluru with an estimated developable potential of ~1.5 million square feet of saleable area for residential development, which is expected to generate revenue of Rs 2,500 crore.

In February, the company achieved a significant milestone by selling over Rs 1,000 crore worth of inventory in just four months at the Godrej Evergreen Square project in Hinjewadi, Pune, shortly after acquiring the land

Quicklinks

March 24, 2025

M&M in talks to acquire entire promoter stake in SML Isuzu

(20 second reading) Mahindra & Mahindra (M&M) is in talks to acquire Sumitomo Corp's entire stake in heavy vehicle maker SML Isuzu. The deal would help M&M expand into the trucks and buses segment, with a proposed valuation of Rs 1,400-1,500 per share for SML Isuzu. M&M's board is expected to meet this week to review the proposal.

Quicklinks

March 24, 2025

Swiggy Instamart launches 10-minute smartphone delivery

(20 second reading) Swiggy Instamart has launched a 10-minute delivery service for smartphones from top brands like Apple, Samsung, OnePlus, and Redmi. Available in 10 cities across India, customers can now quickly access devices such as the iPhone 16e, Samsung M35, OnePlus Nord CE, and Redmi 14C. The service is live in Bengaluru, Delhi, Mumbai, Chennai, Faridabad, Noida, Gurugram, Kolkata, Hyderabad, and Pune.

Quicklinks

March 21, 2025

Vikram Solar to invest in Cell Manufacturing

(20 second reading) Vikram Solar, one of India’s largest solar photo-voltaic (“PV”) module manufacturing company in India, plans to setup a 1GWh fully integrated Solid-state Cell and Battery manufacturing facility with proprietary Battery Management System (BMS) technology. This facility, initially designed to scale up to 5 GWh, is expected to cater to the growing energy demands of a rapidly evolving global market.

his venture by Vikram Solar is poised to contribute to the energy storage landscape by delivering sustainable, innovative battery solutions with improved performance. As per CRISIL Report, projections are showing a 23-24 GW capacity addition in Battery Energy Storage Systems (BESS) over the fiscal years 2025 to 2030.

 

Quicklinks

March 21, 2025

Hero MotoCorp invests in electric 3W company

Hero MotoCorp announced that it will invest up to Rs 525 crore in an automobile company, Euler Motors Private Limited

According to the regulatory filing, Hero MotoCorp will make the investment in one or more tranches. The acquisition is expected to be completed by April.

Operating across 30 cities in India, Euler Motors designs, manufactures, and offers sales and service for electric three-wheelers. Euler Motors also recently launched its first electric commercial four-wheeler.

Euler’s turnover for the financial year ended March 31, 2024 was Rs. 172 crore.

Quicklinks

March 21, 2025

Bain Capital to buy 18% stake in Manappuram Finance for Rs 4,385 crore 

Manappuram Finance said on Thursday investment firm Bain Capital would pick up an 18% stake in the gold loan provider for 43.85 billion rupees ($508 million).

Bain Capital will make the investment through subscription to shares and warrants at 236 rupees apiece, implying a 30% premium over the six-month average trading price of Manappuram Finance.

The deal will trigger a mandatory open offer for the purchase of an additional 26% stake in the company from existing shareholders, it said.

Based on open offer subscription, Bain Capital's stake post-investment will vary between 18% and 41.7%.

Quicklinks

March 20, 2025

Adani enters cables, wires biz

Adani Enterprises Limited has announced the successful incorporation of a new joint venture company, Praneetha Ecocables Limited (PEL), through its wholly owned subsidiary, Kutch Copper Limited (KCL).

The venture, which was announced in the late hours of Wednesday afternoon, sent shockwaves through the stock prices of leading industry players like Polycab and R R Kabel in the early trading hours of Thursday.

Quicklinks

 

March 19, 2025

Bajaj Auto to invest Rs 1500 crore in credit unit

(20 second reading) Bajaj Auto has approved an infusion of up to ₹1,500 crore into its subsidiary, Bajaj Auto Credit (BACL), in multiple tranches. This investment will drive significant growth in BACL’s assets under management (AUM) in FY2025-26, following its national expansion in FY2024-25. To meet capital adequacy requirements, BACL will receive additional Tier-1 and Tier-2 capital. As of March 31, 2024, BACL reported a turnover of ₹16.65 crore and a net worth of ₹258.23 crore.

Quicklinks

March 19, 2025

GR Infraprojects wins Rs.4263-crore NHAI contract

(20 second reading) GR Infraprojects Ltd has secured a ₹4,263 crore highway development contract from the National Highways Authority of India (NHAI). Announced on March 18, the project involves upgrading the Agra-Gwalior greenfield road across Uttar Pradesh, Rajasthan, and Madhya Pradesh, with a completion timeline of 910 days.

Quicklinks

March 19, 2025

IRCON JV bags Rs. 1096 Crore contract

(20 second reading) Shares of IRCON International, a Navratna PSU under the Ministry of Railways, rose 9% to ₹150.40 on March 18. This follows the company's announcement of securing a Rs.1,096 crore EPC contract with Badri Rai & Company (BRC) for constructing a new secretariat complex in Shillong, Meghalaya. IRCON holds a 26% stake in the joint venture.

Quicklinks

March 18, 2025

Tata Motors to increase CV prices by up to 2%

(20 second reading) Tata Motors, India's largest commercial vehicle manufacturer, announced a price increase of up to 2% across its commercial vehicle range, effective April 1, 2025. The hike, aimed at offsetting rising input costs, will vary by model and variant. This follows a similar price increase of up to 2% in January. Tata Motors stated that while it strives to optimize costs, part of the increased cost will need to be passed on to customers.

Quicklinks

March 18, 2025

KEC International bags Rs 1267 crore order

(20 second reading) KEC International's share price rose nearly 2% on March 17 after the company secured new orders worth Rs 1,267 crore across various sectors. The Transmission & Distribution (T&D) business won projects in India and the Americas, including 800 kV HVDC and 765 kV transmission lines from PGCIL. The Cables business also secured orders for cables and conductors. With these additions, KEC's year-to-date order intake exceeds Rs 23,300 crore, marking a 35% growth compared to last year.

Quicklinks

March 18, 2025

Paytm Money becomes SEBI approved research analyst

(20 second reading) On March 18, Paytm announced that its subsidiary, Paytm Money, has received SEBI approval to operate as a research analyst. This approval allows Paytm Money to offer SEBI-compliant services, including investment insights, research reports, and data-driven analysis. As a result, Paytm Money will integrate these services into its app, enhancing its research and advisory offerings. Following the news, shares of One-97 Communications rose by about 3% in early trading.

Quicklinks

March 18, 2025

Swiggy Instamart expands to 100 cities,

(20 second reading) Swiggy Ltd announced on March 17 that its quick commerce platform, Swiggy Instamart, has expanded to 100 cities across India, driven by growing demand in tier 2 and tier 3 markets. In 2025, the platform launched its 10-minute delivery service in 32 new cities, including Raipur, Siliguri, Jodhpur, and Thanjavur. This expansion gives millions of customers access to over 30,000 products, from groceries to electronics, all delivered within 10 minutes.

Quicklinks

March 17, 2025

Promoters to infuse Rs 294 cr into SpiceJet

SpiceJet's founder and promoter, Ajay Singh, through Spice Healthcare Pvt. Ltd., will invest Rs 294.09 crore into the airline. The investment will be made by converting 13.14 crore warrants into equity shares, raising the promoter group's stake from 29.11% to 33.47%.

Quicklinks

March 17, 2025

L&T to invest for data centers

(20 second reading) Larsen & Toubro (L&T) plans to invest up to Rs 3,600 crore to build three new data centers in India, expanding its capacity fivefold to 150 MW by 2027. The new facilities will be located in Bengaluru, Panvel, and Mahape. Currently, L&T operates data centers in Mumbai and Chennai with a combined capacity of 32 MW. The Indian data center market is rapidly growing, driven by digitalization and AI adoption.

Quicklinks

Ola offers discounts of up to Rs.26,750

March 14, 2025

(20 second reading)
Ola offers discounts of up to Rs.26,750
Ola Electric offers discounts of up to Rs.26,750 on S1 e-scooters, on limited-time Holi flash sale offers. Under this sale, customers can avail discounts of up to Rs.26,750 on S1 Air and ~22,000 on S1 X+ (Gen 2), with the models now starting at Rs.89,999, and Rs.82,999, respectively, the company said in a statement. The flash sale began on March 13 and ends on March 17. The company is also offering discounts of up to Rs.25,000 on the rest of its S1 range, including all the scooters from its latest S1 Gen 3 range, it added. With both S1 Gen 2 and Gen 3, the company has a portfolio of scooters across all price points ranging from Rs.69,999 to Rs. 1,79,999 (after festive discount). Ola Electric said it is also offering benefits worth up to ~10,500.

Quicklinks

Ola offers discounts of up to Rs.26,750

Blackstone Group will invest Rs.1,800 crore in Kolte-Patil

March 13, 2025

Blackstone Group will invest Rs.1,800 crore in Kolte-Patil
(20 Second reading)
Blackstone Group will invest Rs.1,800 crore in Kolte-Patil Developers, marking its first foray into residential real estate. Through its entity BREP Asia III India Holding Co, Blackstone will acquire a 14.3% stake via preferential allotment at Rs.329 per share, a 2.6% discount. Additionally, Blackstone will launch an open offer to acquire up to 26% of the Pune-based firm. Once the deal is completed, Blackstone will hold joint control of the company alongside its current promoters.

Quicklinks

Blackstone Group will invest Rs.1800 crore in Kolte-Patil

March 12, 2025

 Net equity MF inflows dropped 26% in February
(20 Second reading) Net equity mutual fund inflows dropped 26% to Rs 29,303 crore in February, amid a market selloff, according to AMFI data released on March 12. Despite the decline, inflows remained positive for the 48th consecutive month. This dip coincided with a sharp market correction, with the BSE Sensex falling 5.55% and the Nifty 50 down 5.89%. Systematic Investment Plan (SIP) inflows also fell to a three-month low of Rs 25,999 crore as investor caution grew, especially in smaller-cap funds.

Mutual funds have lost over Rs 7,300 crore

March 11, 2025

(20 second reading) Today mutual funds have lost over Rs 7,300 crore as IndusInd Bank’s stock plunged by over 27% following the bank's disclosure of a 2.4% negative impact on its net worth due to discrepancies in certain portfolios. As of February 28, mutual funds held shares worth Rs 22,339 crore, but this value has now dropped to Rs 15,032 crore, a decline of over Rs 7,300 crore.

UTI Mutual Fund holds the largest exposure with 1.27 crore shares across 15 schemes, followed by Bandhan Mutual Fund, Quant Mutual Fund, and others. Mutual funds have consistently raised their stake in the bank, from 15.63% in December 2023 to 30.31% by December 2024. The recent fall in IndusInd Bank’s stock has significantly impacted their holdings.

Mutual funds have lost Rs 7300 crore

IndusInd Bank’s share price plunged 27%

March 11, 2025

(30 Second reading) IndusInd Bank's share price plunged 27% on March 11, hitting a new 52-week low and triggering three lower circuits on the National Stock Exchange before 10 am. The bank disclosed a 2.35% post-tax impact on its net worth due to a markdown on internal derivative trades related to forex borrowings and deposits. These trades, spanning 5–7 years, were made up until March 31, 2024. This setback follows other challenges, including the CFO's resignation just before Q3 earnings and the CEO's reduced one-year extension.

IndusInd Bank's share price plunged 27%

Zydus Life acquires Amplitude Surgical

March 11, 2025

(30 seconds reading)

Zydus Lifesciences announced on March 10, 2025, that it has entered exclusive negotiations to acquire an 86% majority stake in Amplitude Surgical for €256.8 million. The acquisition price represents an 80.6% premium over Amplitude’s last closing price and higher premiums over its 3- and 6-month averages. Amplitude Surgical, a European MedTech leader in lower-limb orthopedic technologies, reported €106 million in sales and €27.1 million in EBITDA for the fiscal year ending June 30, 2024. The acquisition aims to strengthen Zydus's MedTech portfolio, expanding its presence in the orthopedic sector.

Zydus Life acquires Amplitude Surgical

March 11, 2025

Anupam Rasayan signs Rs. 922 Cr. LOI

(20 seconds reading) Anupam Rasayan signed a 10-year Letter of Intent (LoI) with a Korean multinational company on March 10, 2025, for a "high-performance niche chemical" valued at $106 million (approximately Rs 922 crore). The chemical is set to be supplied in FY26. This deal highlights Anupam's strong R&D capabilities and commitment to innovation, particularly in the aviation and electronics sectors. CEO Gopal Agrawal emphasized that the partnership strengthens Anupam’s global presence, especially in South Korea, a key manufacturing hub for long-term growth.

March 11, 2025

Supreme Industries acquires Wavin India

(20 seconds reading) Supreme Industries Ltd. announced on March 10, 2025, that it has signed a Memorandum of Understanding (MoU) with Wavin India to acquire its Indian piping business for $30 million. The deal, expected to close by June 30, 2025, will also grant Supreme exclusive access to Wavin BV’s technologies for India and SAARC countries over seven years. This acquisition will boost Supreme's piping division capacity by 73,000 MT per year and improve efficiency across North and South India. The deal is subject to due diligence and regulatory approvals.

Tata Power MOU for Rs. 49000 Cr.

March 11, 2025

(20 seconds reading) Tata Power shares rose 3% on Monday, reaching Rs 361.85, following the announcement that its subsidiary, Tata Power Renewable Energy Ltd (TPREL), signed an MoU with Andhra Pradesh to invest Rs 49,000 crore ($5.6 billion) in renewable energy projects. The deal includes up to 7,000 MW of solar, wind, and hybrid energy, supporting the state's goal to become a renewable energy hub. Tata Power’s CEO, Praveer Sinha, highlighted the company’s commitment to India’s clean energy future through this partnership.

Adani Wilmar acquires “Tops” brand

March 9, 2025

(20 seconds reading) Adani Wilmar has signed an agreement to acquire GD Foods, the owner of the popular 'Tops' brand, known for its sauces and pickles. The deal will be completed in two phases, with 80% of shares acquired initially and the remaining 20% over three years. This acquisition will expand Adani Wilmar's portfolio with high-margin products, including top-tier ketchup and pickles, and enhance its distribution reach. The transaction will be funded through internal accruals or IPO proceeds.

Capacity expansion at Neuland Lab

January 22, 2025

(20 second reading) Neuland Laboratories Ltd announced that its board of directors approved capital expenditures totalling Rs.342 crore for capacity expansion at its facilities in Telangana.

At unit 1 in Bonthapally, the company plans to increase its peptide synthesiser capacity from 0.5 KL to 6.37 KL. The expansion is expected to be completed by FY27.

The project will be financed through a combination of borrowings and internal accruals and aims to support the development and commercial production of peptides for the generic drug substances (GDS) and custom manufacturing solutions (CMS) business segments.

 

January 21, 2025
Jio Financial enters broking business Jio Financial Services Ltd has recently announced in an exchange filing that its joint venture, Jio BlackRock Investment Advisers Private Limited, has established a wholly owned subsidiary called ‘Jio BlackRock Broking Private Limited’ as of January 20, 2025. This new entity is set to engage in broking activities, pending the necessary regulatory approvals. The firm and BlackRock decided to collaborate on a joint venture to enter the asset management sector and have submitted a request for final approval. On October 19, 2023, the joint venture applied to the Securities and Exchange Board of India to launch a mutual fund operation.

January 9, 2025
Mazagon Dock delivers 6th Scorpene submarine to Indian Navy Mazagon Dock Shipbuilders Ltd on said it delivered the sixth Scorpene submarine 'VAGHSHEER' to the Indian Navy, subsequently to be commissioned as INS Vaghsheer. "Mazagon Dock Shipbuilders Ltd continues its saga of 'self-reliance' 'Aatmanirbhar Bharat' and 'Make in India' initiative of the government

January 8, 2025
RVNL signs MoU with Dubai-based GBH International  State-owned RVNL on Tuesday (January 7) said it has signed a MoU with GBH International Contracting LLC (GBHIC), a Dubai-based company, to collaborate on civil infrastructure projects in the Gulf Cooperation Council (GCC) region. This partnership aims to leverage the strengths of both entities to identify and pursue business opportunities in the growing infrastructure sector across GCC countries.

January 8, 2025
SEBI warning to Ola Electric The SEBI has issued a stern warning to Ola Electric Mobility Limited for violating disclosure norms by announcing expansion plans on social media before informing stock exchanges. SEBI sent an administrative warning letter to the electric vehicle manufacturer on January 7, citing multiple violations of listing and disclosure regulations. The company's Chairman and CEO Bhavish Aggarwal had posted about plans for a four-fold expansion of company-owned stores on X

January 7, 2025
NTPC forays into nuclear energy business State-run power giant NTPC Ltd on January 7 announced the incorporation of its wholly owned subsidiary, NTPC Parmanu Urja Nigam Ltd, (NPUNL) to spearhead its nuclear energy initiatives. NPUNL has been established to undertake the planning, development, and operation of nuclear energy projects for electricity generation and related purposes. The subsidiary will focus on building, owning, and managing nuclear power stations, promoting research and development, and identifying suitable sites for nuclear facilities.

January 7, 2025
Ashoka Buildcon arm inks contract with NHAI Construction engineering company Ashoka Buildcon Ltd on Monday (January 6) said its wholly-owned subsidiary Ashoka Bowaichandi Guskara Road Private Ltd, has executed a concession agreement with the National Highways Authority of India (NHAI) for the development of a four-lane economic corridor in West Bengal. The project, which involves the construction of the Bowaichandi to Guskara-Katwa Road Section on NH 116A, is valued at ₹1,391 crore and will be executed under the hybrid annuity mode.

November 11, 2024

Vedanta to invest $500 million in display glass subsidiary
Vedanta Ltd. has announced plans to invest approximately $500 million in AvanStrate Inc., its display glass subsidiary.
The metals and mining giant is also exploring the possibility of establishing a display semiconductor manufacturing facility in India.
“Vedanta Limited is planning to invest close to USD 500 million (about ?4,300 crore) in its group company, AvanStrate Inc. (ASI), a leading global display glass manufacturer that is now fully managed by Vedanta Limited

Equity MFs witnessed a record inflow

November 11, 2024

Equity mutual funds witnessed a record inflow of Rs 41,887 crore in October, marking a surge of over 21 per cent on a month-on-month (MoM) basis, fuelled by robust investments in thematic funds. This also marks the 44th consecutive month of net inflow in the equity-oriented funds, highlighting the ever-increasing appeal of mutual funds among investors, data with the AMFI showed on Monday

November 11, 2024

Q2 results reveal a cautious economic climate with many companies, particularly in chemicals and FMCG, reporting weaker-than-expected earnings.
Analysis from JM Financial on 157 companies, out of its coverage universe of 275, indicates mixed results across sectors. Nearly half of the companies missed earnings expectations, suggesting a challenging economic environment.
According to JM Financial, in the Q2 results so far, 44% of companies (69 companies) underperformed, missing analyst estimates, while 41% (65 companies) exceeded forecast.

Rupee plunges to all-time low of 84.38

November 11, 2024


The rupee hit a record low against the US dollar on Monday, as concerns surrounding the recent victory of Donald Trump in the US elections put Asian currencies under pressure. Continuous outflows from Indian stocks further weakened the rupee, sparking a wave of caution among traders and investors alike.
The rupee dropped to a new low of 84.3875 in early trading, surpassing its previous record set last Friday. It was trading at 84.37 by 9:40 a.m. Despite these pressures, traders noted that the Reserve Bank of India (RBI) intervened to prevent further losses

Starlink application back on track

November 11, 2024

Elon Musk's Starlink agrees to security norms, licence application back on track
Starlink's India licence application is set to move forward after the Elon Musk-led satellite broadband company agreed to meet the government's data localisation and security requirements, a major point of contention.
The development comes as US president-elect Donald Trump has talked about a big role for the tech billionaire in his administration. In the run-up to the polls, Musk not only endorsed the former president but also raised funds for his campaign. His expected White House influence could give the LEO satellite company more leverage for its planned satellite internet operations in India, sources said.

WazirX faced security breach

July 18, 2024
WazirX, a prominent Indian cryptocurrency exchange, faced a security breach early on Thursday, leading to over $230 million in withdrawals during European hours. The incident affected one of its multisig wallets, resulting in the loss of user funds. "We are investigating a security breach involving one of our multisig wallets. As a precautionary measure, we have temporarily paused INR and crypto withdrawals to safeguard your assets. We appreciate your patience and will provide updates as we progress," WazirX announced in a statement posted on X.

Sanofi to invest Euro 400 mn in Hyderabad GCC

July 17, 2024
(20 second reading) Sanofi Healthcare India Pvt Ltd announced on Wednesday its significant investment in expanding the Global Capacity Centre (GCC) in Hyderabad. The company plans to invest Euro 400 million over the next six years, with Euro 100 million allocated for the upcoming year. Madeliene Roach, Executive Vice President of Business Operations at Sanofi, highlighted in a press conference that the Hyderabad GCC will expand to accommodate approximately 2,600 employees within the next two years, solidifying its position as Sanofi's largest global hub among its four hubs worldwide. Established in 2019, the Hyderabad hub has experienced rapid growth, evolving from a medical hub to a provider of top-tier services supporting Sanofi's global functions and affiliates globally.

Kalpataru Projects bags new orders worth Rs.2995 crore

July 12, 2024
(20 second reading) Kalpataru Projects International Limited on Thursday, July 11, said it has, with its joint ventures and international subsidiaries, secured new orders worth Rs.2,995 crore. The company said it has bagged orders in the transmission and distribution (T&D) business in overseas markets, building and factories (B&F) orders in India and engineering, procurement and construction (EPC) order in the water business in a joint venture. The company's MD and CEO Manish Mohnot said with the above order wins, the firm's order intake in the current fiscal year, so far, stands at Rs.6,178 crore.

Tata Elxsi reports Rs 184 crore profit in Q1

July 12, 2024
(20 second reading) Tata Elxsi Ltd has reported a 3 percent fall in net profit for June 2024 quarter. Net profit climbed to Rs 184 crore for the first quarter of financial year 2024-2025 against a net profit of Rs 188 crore in the year-ago period. In the previous session, Tata Elxsi stock ended 1.43% higher at Rs 7118.80. Market cap of the IT firm rose to Rs 44,333 crore. Revenue from operations rose 9 percent in Q1 to Rs 926 crore as against Rs 850 crore in the same quarter last fiscal. Sequentially, net profit declined 6 percent from Rs 196 crore in December quarter EBITDA fell 3.6 percent to Rs 225 crore against Rs 233.7 crore while EBIT margin contracted 105 basis points to 24.3 percent versus 25.8 percent.

NCLT stays retirement of V.R. Gandhi from Vadilal

July 12, 2024
(20 second reading) The National Company Law Tribunal (NCLT) has declared a board resolution authorizing the retirement of Virendra R Gandhi from the Board of Vadilal Industries (VIL) and Vadilal Enterprises (VEL) as "null and void", in an order dated July 10. According to the order, the three families led by Virendra R Gandhi, Rajesh R Gandhi and Devanshu L Gandhi will be entitled to use the trademark of 'Vadilal' registered in the name of VIPL till the companies are divided as directed; and all the family businesses be divided among the three families after appointing a Court Commissioner. If any any one of the three families wants to purchase the shares held by the other families, that will be allowed, if mutually agreed to.

Bikaji Foods announced robust Q4 results

May 27, 2024

(20 second reading) Bikaji Foods International posted a massive 200 percent jump in net profit at Rs 116.3 crore and revenue from operations rose 12.8 percent YoY to Rs 520.8 crore in the quarter ended March 2024.
Bikaji's EBITDA rose 10.2 percent on-year to Rs 67.5 crore during the quarter under review, while margin stood at 13 percent in the said quarter. The board of the company also approved a final dividend of Rs 1 per equity share.
Bikaji Foods International is the third largest ethnic snacks company in India, selling Indian snacks and sweets. On the bottom-line front, the snack maker's EBITDA margin for FY24 stood at 16.8 percent, led by reduction in commodity prices, superior mix, operating leverage and effective cost management.

Page Industries announces muted Q4 results

May 27, 2024

(20 second reading) Page Industries, the branded apparel player announced weakness in sales growth.
Page Industries, which licenses Jockey International's products in India, reported total revenue of Rs 995.3 crore for the March quarter, rising 3.2 percent from Rs 964.6 crore in the year-ago period.
The firm posted a consolidated net profit of Rs 108.2 crore for the March quarter, registering a growth of 38.2 percent from Rs 78.3 crore in the same quarter of the previous financial year.
Volume growth continued to be subdued, with 45.3 million pieces sold in Q4 (a growth of 6.1 percent on-year), whereas for full year it de-grew 3.4 percent to 208.3 million pieces.
Morgan Stanley said that Page Industries missed its estimates, but retained its overweight call

IndiGo posts more than double profits in Q4FY24

May 27, 2024

(20 second reading) InterGlobe Aviation Ltd., which operates budget airline IndiGo reported a net profit of Rs 18,948 million in the fourth quarter of FY24 compared to net profit of Rs 9,192 million.
This is the sixth consecutive quarter IndiGo has remained profitable as strong demand helped tide over increase in fuel prices.
For the entire FY24, IndiGo reported a net profit of Rs 81,725 million, compared to net loss of Rs 3,058 million in the previous financial year.
For the quarter ended March 31, 2024, Passengers increased by 14.0% to 26.7 million &Revenue from Operations increased by 25.9% to Rs 178,253 million

Dixon Q4 net profit up20.6% to Rs 97.3 crore

May 27, 2024

(20 second reading) Dixon Technologies reported a consolidated net profit of Rs 97.3 crore for the March quarter of FY24, registering a growth of 20.6 percent, from Rs 80.62 crore last year.
Consolidated revenue from operations stood at Rs 4657.97 crore, from Rs 3065.45 crore in the year-ago quarter, registering a growth of 51.97 percent, the company said in a regulatory filing.
Dixon recommends a Final dividend on the Equity Shares of the Company for the Financial year 2023-24 at the rate of Rs. 5/- per Equity Share of the face value of Rs. 2 each, out of the profits of the Company.

Petronet posts highest-ever net profit in Q

May 27, 2024

(20 second reading) Petronet LNG Ltd reported a 20 per cent rise in the Q4 net profit on the back of importing higher LNG volumes.
For the FY 2023-24 , Petronet reported highest-ever net profit of Rs 3,536 crore on the back of a 22 per cent growth in volume throughput.
The net profit reported in the March quarter was Rs 738 crore as compared with Rs 614 crore in the same period of the previous year.
During the current quarter ended March 31, Petronet's mainstay Dahej terminal in Gujarat processed 219 trillion British thermal units (TBTU) of LNG as against 172 TBTU during the corresponding quarter of the previous fiscal.

SCI net profit declines 19% to Rs. 307 crore

May 27, 2024

(20 second reading) State-run Shipping Corporation of India reported a 19% YoY decline in net profit at Rs.307.3 crore for the Q4 that ended March 31, 2024, compared to net profit of Rs. 380 Crore in the Q4 of the previous year.
The company's revenue from operations fell 0.4% to Rs.1,412 crore as against Rs.1,418 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA slide 12.3% to Rs.406 crore in the fourth quarter of this fiscal over Rs.463 crore in the corresponding period in the previous fiscal.

Waaree to supply 445 MW solar modules

May 27, 2024

(20 second reading) Solar solutions provider Waaree Energies said the company will supply 445 MW solar modules to Statkraft India.
Waaree Energies is set to illuminate single-location solar projects in Bikaner, Rajasthan, with a supply of 445 MW of its 540/545Wp dual glass bifacial modules.
Scheduled for delivery between May and August 2024, this contract highlights Waaree Energies' vision to contribute towards revolutionizing India's renewable energy landscape, meeting its growing power demand, and to support the nation's transition towards its net-zero goals, it stated.
The deployment of Waaree's bifacial solar modules is expected to amplify the region's renewable energy capacity.

Metro Brands Q4 Profit jumps by 126%

May 27, 2024

(20 second reading) Metro Brands recorded a profit jump of 126.3 per cent on-year for the fourth quarter of FY24 at Rs 155.57 crore in comparison to Rs 68.74 crore during the corresponding quarter of the previous fiscal year. It posted revenue from operations at Rs 582.98 crore, up 7.1 per cent as against Rs 544.13 crore during the same period last year.
In Q4 FY24, the company achieved a YoY revenue growth of 10 per cent. E-commerce sales (including omni-channel) for Q4 and full year FY24 was Rs 41 crore and Rs 215 crore respectively, posting a YoY growth of 25 per cent and 33 per cent respectively. Further, in FY24, the company achieved a gross margin of 58 per cent.The total net stores opening for the year is 97.

Garden Reach Shipbuilders has solid Q4 results

May 27, 2024

(20 second reading) In Q4, the Garden Reach Shipbuilders & Engineers' revenue crossed Rs 1,000 crore, marking an increase of 69 percent compared to the year-ago quarter. The company's net profit also doubled to Rs 112 crore during the quarter on an annual basis.
The management also added that the order book remains robust with ongoing projects currently yielding maximum revenue. Additionally, the company noted that more orders are anticipated soon. As for FY24, revenue increased by 40 percent and net profit witnessed a growth of 57 percent.
Garden Reach shares have surged a massive 70 percent in the last three months.

Ratnaveer Q4FY24 Net Sales down 6% Y-o-Y

May 27, 2024

(20 second reading) Reported Standalone quarterly numbers for Ratnaveer Precision Engineering are:
Net Sales at Rs 142.04 crore in March 2024 down 5.83% from Rs. 150.83 crore in March 2023.
Quarterly Net Profit at Rs. 5.61 crore in March 2024 down 38.67% from Rs. 9.15 crore in March 2023.
EBITDA stands at Rs. 9.13 crore in March 2024 down 39.17% from Rs. 15.01 crore in March 2023.
Ratnaveer EPS has decreased to Rs. 1.37 in March 2024 from Rs. 2.65 in March 2023.
Ratnaveer shares closed at 134.75 and has given 16.16% returns over the last 6 months

Ramco Systems reports net loss in FY24

May 27, 2024

(20 second reading) Enterprise software firm Ramco Systems continues to face challenges, with a consolidated net loss of Rs 241 crore in the FY24, increasing from a loss of Rs 206.8 crore in FY23. However, the company's consolidated net loss narrows on a yearly basis (YoY) at Rs 23 crore in the Q4 quarter, compared to Rs 45 crore in the same period last year.
For the FY24, the consolidated income of Ramco Systems was at Rs 530 crore. Recurring revenue grew at 13% YoY, as compared to 5% last year.
The company signed 11 major deals and an unexecuted order book stands at $18.8 crore. Chairman P R Venketrama Raja said with an uptick in revenue and order bookings, Ramco Systems achieved cash-flow stabilization.

Nykaa profit surges 188 % to Rs 7 crore

May 27, 2024

(20 second reading) Online fashion retailer Nykaa reported a 188% jump in net profit to Rs 6.9 crore for March quarter compared to Rs 2.4 crore in the year-ago period.
Revenue from operations in Q4 stood at Rs 1,668 crore, up 28% compared to Q4FY23. Consolidated GMV (gross merchandise value) in March quarter grew 32% YoY to Rs 3,217 crore.
EBITDA margin stood at 5.6% and EBITDA margin adjusted for ESOP expenses, new business (GCC operations) and corporate restructuring expenses expanded to 6.7% for the quarter compared to 5.5% a year ago. Nykaa Beauty business crossed $1 billion GMV in FY24, a rise of 25% YoY.
Nykaa Fashion GMV saw growth of 27% YoY in FY24 and a growth of 27% YoY in Q4 FY24.

Max Healthcare Q4 net profit down 3%

May 27, 2024

(20 second reading) Max Healthcare on May 22 reported a 3 percent fall in its fourth quarter net profit at Rs 311 crore from the year-ago quarter of Rs 320 crore.

The hospital chain's net revenue grew nearly 16 percent to Rs 1800 crore from Rs 1551 crore in the same period the previous year.

The company's operational performance improved in the January-March period, as the EBITDA margin fell to 27.9 percent, down from 28.2 percent in the base period. EBITDA for the period is Rs 503 crore.

United Spirits Q4 profit rises two-fold

May 27, 2024
(2 Minutes Reading) Diageo-controlled liquor maker United Spirits reported a two-fold increase in consolidated net profit to Rs 241 crore for the Q4FY24, compared to net profit of Rs 102 crore in the year-ago period. Its revenue from operations was up 12.41 per cent to Rs 6,511 crore during the quarter under review from Rs 5,792 crore a year earlier. Its sports business Royal Challengers Sports Pvt Ltd (RCSPL), which owns RCB teams for IPL and WPL, has a revenue of Rs 120 crore in the March quarter.

L&T To Redevelop 31.25 Lakh Sq ft In Thane

May 22, 2024

(20 second reading) In what could be one of the major real estate deals in Mumbai Metropolitan Region, L&T Parel Projects Ltd has agreed to develop a plot measuring 31.25 lakh sq ft at Pachpakhadi in Thane. L&T entered into an agreement with Jagdale Infrastructure Pvt Ltd to develop the said plot. The total RERA area to be developed is 31.25 lakh sq ft while the total rehab area to be developed will be 12.7 lakh sq ft.
The developers would jointly develop the above project land having minimum developmental potential of RERA carpet area of 31.25 lakh sq ft. While the total agreement value is Rs 697.67 Crore, the stamp duty paid is Rs 34.88 Crore, according to the documents accessed by CRE Matrix, a real estate data analytics firm.

Jubilant Foodworks Q4 net profit rises multi-fold

May 22, 2024

 (20 second reading) Jubilant Foodworks Ltd (JFL) on Wednesday reported a multi-fold increase in its consolidated net profit to Rs 208.24 crore for the fourth quarter ended March 2024, helped by exceptional item gains.
The company, which operates fast-food chains - Domino's Pizza and Dunkin' Donuts, had posted a net profit of Rs 28.54 crore in the January-March quarter of the previous fiscal.
Its revenue from operations rose 23.85 per cent to Rs 1,572.79 crore during the quarter. It was Rs 1,269.84 crore in the year-ago period, it added.
Its profit before exceptional items and tax in the March quarter was Rs 54.86 crore against Rs 53.40 crore in the same period of FY23.

Power Grid Q4 Net profit dips marginally

May 22, 2024

(20 second reading) Power Grid reported a nearly four per cent dip in its consolidated net profit to Rs 4,166.33 crore in the March 2024 quarter, mainly due to a marginal decline in income.
The company reported a consolidated net profit of Rs 4,322.87 crore in the quarter ended on March 31, 2023.Total income declined to Rs 12,305.39 crore in the quarter as compared to Rs 12,557.44 crore in the same period a year ago.
For fiscal 2023-24, the consolidated net profit rose to Rs 15,573.16 crore from Rs 15,419.74 crore a year ago. Total income in the fiscal rose to Rs 46,913.12 crore as against Rs 46,605.64 crore in the year-ago period. The board also recommended a final dividend of Rs 2.75 per share

RVNL bags large order from SE Railways

May 22, 2024

(20 second reading) The RVNL received large order from South Eastern Railway headquarters-Electrical.
The Letter of Acceptance is in reference to the order from Kharagpur division of South Eastern Railway, that intends to meet its 3000 MT loading Target. The kharagpur division of South Eastern Railway thereby is upgrading its electric traction system from 1 x 25 KV to 2 x 25 KV for the Kharagpur (Excl.)-Bhadrak (Excl.) segment, as per the release. The order involves design, supply, erection, testing, and commissioning of the electric traction system.
The order is to be completes in six months and the cost of work as per RVNL release is slightly more than Rs. 148 crore

Bharat Electronics earns bumper Q4 profits

May 22, 2024
(20 second reading) Bharat Electronics posted a net profit of Rs 1,797 crore in Q4 FY24, compared to Rs 859.5 crore in December 2023. This meant a 109 per cent jump in the entity's profits. Bharat Electronics is a state-owned aerospace and defence electronics company. The Navartna company's net profits jumped to Rs 3,984 crore from the previous year's Rs 2,984 crore. This resulted in a jump of Rs 1,000 crore. The quarterly results also appear to have placated its status at Dalal Street as well. The company's shares surged 5.87 per cent in today's intraday trade to close at Rs 274.00. In addition, just in the past one week alone, the entity's prospects have zoomed by over 20 per cent, indicating investor's faith in the company's potential.

Man Industries gets Rs 505-crore export order

May 22, 2024

(20 second reading) Man Industries has received an export order worth Rs 505 crore, the pipe manufacturer said in an exchange filing on May 21. The order for supplying a range of pipes will have to executed in six to eight months.
The company has an unexecuted order book of Rs 2,100 crore, which, too, has to be completed in the same time frame.
In April, Man Industries received an approval from Shell Global for external, internal, and concrete coating of steel pipelines at Anjar in Gujarat. Earlier in the year, Man Industries received orders worth Rs 555 crore. The stock ended the day at Rs 370 on the National Stock Exchange

Trent speeds up Zudio expansion

May 22, 2024

(20 second reading) Trent Ltd’s value apparel format Zudio opened a record 203 new stores during fiscal 2024, while entering 46 new cities during the year taking the total number of stores to 545.
“During the year, Zudio added 203 new stores to its portfolio and consolidated 10 stores. With a store footprint of 10,000 sq ft, the concept affords expansion across numerous micro-markets,” ," Trent said in its annual report for the year FY24.
In FY24, Zudio entered 46 cities and added more presence in 48 cities
Zudio grew its footprint by 203 stores in the last financial year and is now more accessible than ever before with a growing density of presence in multiple micro markets, the retailer said.

RITES bags order from Bangladesh Railways

May 21, 2024

(20 second reading) RITES signed a contract agreement for supplying 200 passenger carriages to Bangladesh Railways.
The export arm of Indian Railways said that the order is worth Rs 915 crore and is funded by European Investment Bank through a global competitive bidding process.
The contract has a supply with a commissioning period of 36 months, followed by a warranty period of 24 months. This isn't the first time that the company has contributed to Bangladesh's infrastructure development. Previously, it had supplied 120 passenger coaches, 36 locomotives and 10 10-meter gauge locomotives to Bangladesh Railways.

Vi loss widens to Rs 7674 cr

May 21, 2024

(20 second reading) Vodafone Idea reported a net loss of Rs 7,674 crore for the Q4 FY2024. The company’s loss widened in the quarter under review from Rs 6,418.9 crore in the year-ago period. Its revenue from operations increased to Rs 10,606 crore from Rs 10,531 crore in the same quarter last fiscal.
VI recently raised Rs 18,000 crore from FPO. The company further mentioned that it is in discussions with banks to raise Rs 25,000 crore and additional non-fund-based facilities of up to Rs 10,000 crore. Its bank exposure has reduced by Rs 34,600 crore.
The company improved its ARPU to Rs 146, up 7.6% on YoY basis from Rs 135 in Q4FY23.
Its equity fundraise of Rs 215 billion will enable us to kickstart the investment cycle to expand its 4G coverage as well as launch of 5G services

LT Foods posts 14% jump in Q4 net profit

May 21, 2024

(20 second reading) LT Foods, owner of basmati rice brands 'Daawat' and 'Royal', on Friday posted a 14 % jump in consolidated net profit at Rs 150.24 crore (Rs 131.81 crore)for the fourth quarter of fiscal 2023-24 on robust sales.
Total income rose to Rs 2,091.73 crore during the January-March quarter of 2023-24, from Rs 1,834.95 crore in the same period a year ago.
For the full fiscal year 2023-24, LT Foods reported a 41.35 % increase in net profit at Rs 597.59 crore, compared with Rs 422.75 crore in the previous year.Total income rose to Rs 7,822.05 crore from R 6,978.81 crore a year earlier.

Welspun Enterprises Q4 Profit drops by 50.3%

May 21, 2024

(20 second reading) Welspun Enterprises recorded its Q4FY 24 profit at Rs 77.35 crore, posting a fall of 50.3 per cent on-year in comparison to Rs 155.60 crore during Q4 of FY23. It posted revenue from operations at Rs 821.11 crore, down 2.8 per cent as against Rs 845.08 crore during the same period last year. The company EBITDA stood at Rs 111 crore, up 17 per cent on-year.
The company board also recommended a final dividend of Rs 3 per equity share of the face value of Rs 10 each at the rate of 30 per cent on the equity shares for the financial year 2023-24. “The Dividend will be paid to the shareholders who are holding equity shares of the company on the last day of book closure which will be July 08, 2024,”

JSW to invest for cement plant in Rajasthan

May 21, 2024

(20 second reading) JSW Cement, part of $24.25 billion JSW Group, unveiled it plans to invest around Rs 3,000 crore to establish a greenfield cement manufacturing facility in Nagaur district of Rajasthan.
The ground-breaking ceremony was held recently to commence the construction of the factory.
JSW Cement's investment includes a clinkerization unit of up to 3.30 million tonne per annum and a grinding unit of up to 2.50 million tonne per annum, along with an 18 MW waste heat recovery based power plant. The proposed investment will be funded through a mix of equity and long-term debt.
Once commissioned, this unit will mark JSW Cement's entry into the north India cement market.

.

Kalpataru signs Rs.7550 cr contracts with Saudi Aramco

May 21, 2024

(20 second reading) Kalpataru Projects has signed three contracts worth Rs. 7,550 crore with Saudi Aramco. The three contracts pertain to three packages of the third expansion phase of the Master Gas System Network (MGS-3) in Saudi Arabia.
The EPC scope of the order includes laying of over 800 kilometers of lateral gas pipeline. According to Kalpataru Projects, the MGS-3 aims to expand the existing gas network to provide gas supply to various industrial consumers in the region.
In financial year 2024, Kalpataru's Oil & Gas business reported order inflow of Rs.7,953 crore and revenue of Rs 822 crore. As of March 31, 2024, the Oil & Gas business accounted for 16% of Kalpataru Projects' overall order book worth Rs.58,415 crore.

Wheels India Q4 PAT up 64% at Rs 37 crore

May 21, 2024

(20 second reading) Driven by better product mix, low aluminium prices and improved exports, Wheels India has registered just over 64% rise in net profit for Q4FY24 at nearly Rs 37 crore compared to Rs 22.4 crore in the year ago period. Revenues at Rs 1167 crore for Q4 were however, a little lower than the Rs 1,172 crore in Q4FY23.
For the full year FY 2023-24, net profit was up 8.6% at nearly Rs 68 crore compared to Rs 62.5 crore in FY23. Revenue for the full year increased 6.3% to Rs 4619 crore compared to Rs 4345 crore in FY23. The company has announced a total final dividend of Rs 7.39 per share.
Srivats Ram, MD, Wheels India, said that the company has lined up capex of over Rs 200 crore for FY25.

Delhivery posted a loss of Rs 68.5 crore in the Q4

May 21, 2024

(20 second reading) Delhivery posted a loss of Rs 68.5 crore in the quarter ended 31 March, 2024, down 57 per cent on a YoY basis from a loss of Rs 159 crore in the corresponding period last year.
Revenue from operations increased 12 per cent YoY to Rs 2,076 crore in the Q4 FY24, compared with Rs 1,860 crore in the corresponding period of the previous year.
For the entire financial year 2023-23, revenue from services stood at Rs 8,142 crore, a growth of 13 per cent from Rs 7,224 crore recorded in FY23. Similarly, loss after tax narrowed to Rs 249 crore in FY24 from Rs 1,008 Cr in FY23.

ONGC Q4 profit jumps 19x to Rs 9869 crore

May 21, 2024

(20 second reading) ONGC’s profit jumped 19 times to Rs.9,869 crore in the fourth quarter on exceptional provision in the year-ago period.
Revenues fell 4.5% from a year earlier to Rs.34,637 crore in the fourth quarter. The operational cost fell 12% in a year to Rs.25,456 crore in the quarter on lower exploration cost write-off.
The company's profit for the full year (2023-24) rose 1% to Rs.40,526 crore, up from Rs.40,097 crore in 2022-23. Annual revenues dropped 11% to Rs.1,38,402 crore.
Crude oil price realised from nominated fields rose 5% year-on-year to $80.81 per barrel in the fourth quarter. Gas price realised by ONGC in the quarter fell 24% to $6.5 per mmbtu.

Bandhan Bank Q4FY24 profit falls 94%

May 21, 2024

 (20 second reading) Private sector lender Bandhan Bank reported a steep decline of over 93 percent in its net profit, which fell to Rs 54.63 crore in the January-March quarter (Q4) of the financial year 2023-24.
During this quarter, the bank prudently wrote off loans totalling Rs 3,852 crore in line with its policy while provisions and contingencies also jumped to Rs 1,774 crore from Rs 735 crore in the year-ago period, leading to the fall in PAT.
The Banks net revenue for Q4 FY24 increased by 15 percent to Rs 3,560 crore, up from Rs 3,101 crore in Q4 FY23.
The Board of Directors recommended a dividend of Rs 1.50 per equity share of Rs 10 for the year ending March 31, 2024.

Zee Entertainment swings back to black

May 21, 2024

(20 second reading) Digital and broadcasting media company Zee Entertainment reported a profit of Rs 13 crore in the March quarter of FY24, after reporting a loss of Rs 196 crore in the year-ago period.
However, sequentially the March quarter of FY24 remained muted. The company has reported a profit of Rs 58.5 crore in Q3 FY24.
It reported total income of Rs 2,185.29 crore, up from Rs 2,126.35 crore during the same period a year ago, the company said.
The broadcaster's advertising revenue stood at Rs 1,110.2 crore versus Rs 1,005.8 crore in Q4 FY23.
In FY24, Zee's ad revenue was marginally down to Rs 4057.7 crore from Rs 4057.9 crore.

Oil India’s Q4FY24 profit up 18%

May 21, 2024

(20 second reading) Oil India reported a surge of 17.8% in its consolidated net profit for the last quarter of FY24 at Rs 2,332.94 crore against Rs 1,979.74 crore in Q4FY23.The company’s revenue from operations during the quarter under review rose by 16% and came to be at Rs 10,165.78 crore from Rs 8,764.27 in the corresponding period a year ago.
Total income stood at Rs 10,375.09 crore marking a rise of 16% from Rs 8,936.82 crore in Q4FY23.For FY24, the company’s consolidated net profit declined significantly by 29% to Rs 6,980.45 crore. The board of directors of the company has recommended issuance of one bonus share for every two shares held, subject to the approval of shareholders.

L& T bags orders for buildings, factories business

May 21, 2024

(20 second Reading) Engineering and construction conglomerate Larsen & Toubro said its buildings and factories business vertical has bagged multiple orders.The company has bagged a project from the Institute of Neurosciences Kolkata, for constructing a medical college and hospital campus in Kolkata on a design and build mode.
This involves a 605-bed hospital and a medical college. The project is to be executed in two phases over a period of 60 months. L&T's Buildings and factories business has also received several add-on orders.Larsen & Toubro is engaged in EPC projects, hi-tech manufacturing and services operating across multiple geographies.

Astral Q4 profit slides 12%

May 21, 2024

(20 second reading) PVC pipes and plastic products maker Astral Ltd reported an 11.7% YoY slide in net profit at Rs.181.6 (Rs.206 crore) crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 8% to Rs.1,625 crore against Rs.1,506.2 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA dipped 5.7% to Rs.291.4 crore in the fourth quarter of this fiscal over Rs.309 crore in the corresponding period in the previous fiscal.
The board has recommended a final dividend of Rs.2.25 per equity share of Rs.1 each.

Salasar Techno acquires EMC for Rs 178 Crore

May 21, 2024

Salasar Techno Engineering Ltd has completed the process to acquire EMC Ltd through an insolvency process. Acquisition has been executed in compliance with the terms and conditions and that a "sale certificate has been issued by the Liquidator in favor of Salasar confirming completion of sale".
The total acquisition cost of the engineering, procurement and manufacturing (EPC) firm is Rs 178 crore, STEL.
On the objectives behind the acquisition, STEL said the integration of EMC Ltd will strengthen its market position as a leading engineering and infrastructure company. STEL is also into manufacturing of steel structures.

SAIL Q4 Profit dips 2% to Rs 1126 crore

May 21, 2024

(20 second reading) SAIL reported a marginal 2 per cent fall in consolidated net profit to Rs 1,126.68 crore (Rs 1,159.21-crore) during the March quarter, because of higher raw material prices.The company's revenue from operations also fell to Rs 27,958.52 crore from Rs 29,130.66 crore in the March quarter of FY23.
For full fiscal year, SAIL saw its net profit growing to Rs 3,066.67 crore from Rs 2,176.53 crore in FY23. "The revenue from operations for the company has been the highest ever during FY24.
The board of the company has also approved a final dividend of Re 1 for FY24.

HPL Electric Q4 net profit spikes 22%

May 17, 2024

(20 second reading) HPL Electric & Power’s net profit increased 22.3% YoY to Rs.13.72 crore.
The company’s consolidated revenue from operations climbed 17% to Rs.424.09 crore in the quarter ended March 2024 compared to the corresponding period of the previous year.
The board of directors of the company announced a final dividend of Rs.1 per equity share
HPL Electric & Power Ltd. had received an order worth Rs.181 crore to supply smart meters on February 13. It received an order from a leading Advanced Metering Infrastructure Service Provider (AMISP) client.

 Taj-branded residences in Chennai

May 17, 2024

 Taj-branded residences in Chennai

Indian Hotels Company Ltd has announced the first-ever homes to be sold under the Taj branding anywhere in the world. Taj Sky View Hotel & Residences, presently under construction in Chennai, will see IHCL join hands with city-based real estate developer, Ampa Group, to to launch 253 hotel rooms and 123 branded apartments. The project is expected to be completed early 2027, between January and March.
The developer will fund the project while IHCL will run operations of the entire property for a period of 30 years, including maintenance of the 123 homes on site. The project's construction cost is estimated to be Rs.800 crore, of which Ampa has already invested Rs.200 crore.

PVR Inox To Screen T20 World Cup Matches

May 17, 2024

(20 second reading) India’s largest cinema operator, PVR Inox is in talks to broadcast key matches of the upcoming International Cricket Council Men's T20 World Cup to attract more patrons amid struggling movie ticket sales.
CFO of PVR Inox, highlighted in an interview that the company aims to remain relevant by showing key games starting next month. Sood mentioned that T20 matches are likely to attract larger crowds to cinemas compared to the day-long Cricket World Cup games hosted last October. PVR Inox is also expanding its offerings to include concerts, sports, and alternative events to boost attendance. Additionally, the Mumbai-based company is planning to bring filmed K-Pop performances to Indian audiences.

Chalet Hotels Q4 profit rise by 124.54% YOY

May 17, 2024

(20 second reading) Chalet Hotels showcasing a significant growth in both revenue and profit. The company's topline increased by 23.79% YoY, while the profit surged by an impressive 124.54% compared to the same quarter last year.
In comparison to the previous quarter, Chalet Hotels saw a growth of 11.93% in revenue and a 16.73% increase in profit.
The EPS for Q4 stood at Rs.4.01, marking a 78.32% increase year-on-year.

Patanjali Foods Q4FY24 profit drops 22%

May 17, 2024

(20 second reading) Patanjali Foods, co-founded by Yoga guru Baba Ramdev and Acharya Balkrishna, reported a 22% drop in fourth-quarter profit mainly due to weak demand that hurt overall sales in its core edible oils business and rising expenses.
The profit for the Ruchi Gold oil manufacturer decreased to Rs 206 crore (approximately $25 million) for the quarter ending March 31, down from Rs 264 crore the previous year, reported Reuters.
Revenue from Patanjalis edible oils segment declined by nearly 9% to Rs 5,889 crore, which hindered overall revenue growth.
In contrast, rival Adani Wilmar, the maker of Fortune cooking oil, reported a 67.5% increase in its fourth-quarter profit earlier this month.

Devyani posts net loss in Q4

May 17, 2024

(20 second reading) Quick service restaurant operator Devyani International reported a consolidated net loss of Rs 48.95 crore in the Q42024, impacted by forex translation loss due to the devaluation of Nigerian currency.
The company had posted a consolidated net profit of Rs 59.88 crore in the Q4 23. Consolidated revenue from operations during the quarter under review stood at Rs 1,047.08 crore as against Rs 754.98 crore in the corresponding period a year ago. For the fiscal ended March 31, 2024, the consolidated net loss was at Rs 9.65 crore.
In FY24, consolidated revenue from operations was at Rs 3,556.32 crore as against Rs 2,997.72 crore in FY23. "In 2024 it opened 256 new stores, including 47 in the fourth quarter. As of March 31, our total store count has reached 1,782, including the 283 KFC stores we acquired in Thailand

Bajaj Electricals Q4 net down 43.4 %

May 17, 2024

(20 second reading) Bajaj Electricals reported a 43.47 per cent decline in consolidated net profit to Rs 29.31 crore in the March quarter with revenue impacted by weakness in appliances and general trade.
The company had posted a consolidated net profit of Rs 51.85 crore in the year-ago period
Consolidated total revenue from operations in the quarter under review was Rs 1,188.08 crore as compared to Rs 1,291.97 crore in the same period a year ago, it added.
For the fiscal ended March 31, 2024, consolidated net profit was lower at Rs 131.08 crore as compared to Rs 216.19 crore in the previous year.In FY24, the total revenue from operations was Rs 4,641.27 crore as against Rs 4,889.24 crore in FY23.

Restaurant Brands Q4 net loss Rs 92 crore

May 17, 2024

(20 second reading) Restaurant Brands Asia’s consolidated net loss widened in March quarter to Rs 92 crore from Rs 80 crore a year ago.
Revenue came in at Rs 597.1 crore, rising 16 percent.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 69.24 crore growing by 152.6 percent. EBITDA margins have improved by 626 bps YoY to 11.6 percent.
In FY24, the company opened a net total of 64 new restaurants, including 16 in the fourth quarter, while closing two in the same period. As of March 31, 2024, there are 455 operational restaurants, with 351 featuring BK Cafés.

INOX India Q4 Net profit jumps 44% YoY 

May 16, 2024

(20 second reading) INOX India released their Q4 results on Monday and posted a strong 44% YoY jump in their net profit to Rs.44 crore in Q4FY24 from Rs.30.6 crore during the year-ago quarter. The company's revenue increased 17% year on year from Rs235 crore to Rs.276 crore during the period under review.
The revenue from operations plunged 4% from Rs.290 crore reported during the quarter ending December 2023. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), which is a metric to calculate an organization's operational profitability, jumped 38% year on year to Rs.64 crore.
"The best-ever financial metrics underline our dedication towards shaping a future, which is not only sustainable, but also profitable.

Aarti Pharmalabs Q4 net profit increases 52%

May 14, 2024

(20 second reading) Aarti Pharmalabs reported over a 52% growth in net profit for the Q4. The company also announced a dividend payout for eligible shareholders after market hours.
The company reported a 52.2% jump in its consolidated net profit at Rs.65.25 crore for the fourth quarter of the financial year 2023-24 from the previous year's Rs.42.87 crore. The net profit was also 23% more than the previous quarter's Rs.52.76 crore.
The company’s net profit for FY24 increased by 12.09% to Rs.216.9 crore from Rs.193.49 crore in FY23.
Its shares rallied over 12% to hit an intra-day high of Rs. 591.60 per share.

PVR Inox posted Rs.130 Cr Loss

May 14, 2024

(20 second reading) PVR Inox reported a reduction in its net losses to Rs.129.5 crore for the March quarter, compared to Rs.333 crore in the same period last year. In the December quarter, the company posted a profit of Rs.12.8 crore. The company’s revenue from operation came in at Rs.1,256.4 crore, up 9% from the Rs.1,143 crore posted in the same quarter last year.
In Q4, PVR reported that 3.26 crore people visited its cinemas, up 7% from the year-ago period. The average ticket price was reported at Rs.233, down around 2% year on year, while the food and beverage (F&B) spend per head (SPH) stood at Rs.129, up 8% YoY.
As of March 31, 2024, PVR, along with INOX, collectively operates 360 cinemas with 1,748 screens spread across 112 cities.

Jindal Stainless Supplies Steel For Vande Metro Train

May 14, 2024

(20 second reading) Jindal Stainless announced the company has supplied high-strength stainless steel for the first Vande Metro train. This project is aimed at enhancing inter-city travel services across the nation.
The Vande Metro involved the use of a tempered 201LN grade of high-strength stainless steel supplied by Jindal Stainless. This marks the first instance of the 201LN grade being used, resulting in lighter and more energy-efficient train coaches. The Indian Railways unveiled its first Vande Metro train from the Integral Coach Factory in Chennai.
According to the company, the external panels of the trainsets have been slimmed down from 3 mm to 2 mm, leading to lighter, more energy-efficient, and cost-effective trains.

Allied Blenders gets Sebi nod for IPO

May 14, 2024

Allied Blenders and Distillers received final not from the capital markets regulator Sebi to raise Rs.1500 crore through an IPO. Under the issue, shares will offered at a face value of ?2 and is a mix of fresh issue of up to Rs.1000 crore and an offer for sale of up to Rs 500 crore by promoters.
Net proceeds from the IPO will be used by the company for prepayment or scheduled re-payment of a portion of certain outstanding borrowings and for general corporate purposes, it said.The Mumbai-based company was established in 1988 initially with its Officer’s Choice Whisky in the mass premium segment with a market share of 11.8% in Fiscal 2023 in the Indian whisky market.
ICICI Securities Limited, Nuvama Wealth Management Limited, and ITI Capital Limited, are the book-running lead managers.

Aditya Birla Capital Q4 net profit rises 33%

May 14, 2024

(20 second reading) Aditya Birla Capital's consolidated net profit for the quarter ended March 2024 grew 33 percent to Rs 812 crore as against Rs 609 crore recorded in the previous fiscal. Consolidated revenue grew 32 percent to Rs 12,079 crore from Rs 9,146 crore in Q4FY23.
The company reported a 31 percent YoY and 8 percent QoQ increase in the overall lending portfolio at Rs 1,24,059 crore. Total AUM for the reporting period grew by 21 percent year-on-year to Rs 4,36,442 crore.
In terms of the housing finance business, disbursements grew by 64 percent year-on-year to Rs 2,933 Crore in Q4 FY24
In terms of the insurance business, individual first year premium grew by 2 percent year-on-year to Rs 3,074 Crore in FY2024,

Zydus Wellness Q4 Net profit up over 3%

May 14, 2024

(20 second reading) Zydus Wellness reported a 3.44 per cent rise in consolidated net profit at Rs 150.3 crore in the Q4, 2024. The company had posted a consolidated net profit of Rs 145.3 crore in the same quarter of the previous fiscal.
Consolidated total revenue from operations in the quarter under review stood at Rs 782.6 crore, as against Rs 713 crore in the corresponding period a year ago, it said.
For the fiscal ended March 31, 2024 consolidated net profit was at Rs 266.9 crore, as against Rs 310.4 crore in the previous fiscal. In FY24, consolidated total revenue from operations stood at Rs 2,327.8 crore, as compared to Rs 2,254.8 crore in FY23.

BASF India Q4 net profit jumps 96%

May 14, 2024

(20 second reading) BASF India reported a 96 percent YoY rise in standalone net profit to Rs 161.5 crore for the Q4 2024.
BASF India posted a net profit of Rs 82.3 crore, in Q4 of the last year. On a consolidated basis, the profit rose 15 percent QoQ from Rs 140 crore in the December quarter.
The company's revenue from operations rose 2.4 percent to Rs 3,328.1 crore against Rs 3,249.9 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA rose 88 percent to Rs 245 crore in the fourth quarter of this fiscal over Rs 130 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 7.31 percent in the reporting quarter.

Jindal Steel net profit soars 100% in Q4

May 14, 2024

(20 second reading) Jindal Steel & Power's consolidated net profit zoomed 100.5% in the March 2024 quarter. Profit rose to Rs 933.5 crore in the last quarter against a profit of Rs 466 crore in the Q4 of FY23. Profit in the reporting quarter was affected by an exceptional loss of Rs 153.5 crore. Revenue from operations fell 1.5 percent on-year to Rs 13,487 crore for the quarter.
Revenue rose 15 percent on a sequential basis and profit fell 52 percent from Rs 1,928 crore reported in Q3FY24.
The stock has gained 63.68 per cent in one year. JSPL shares have delivered multibagger returns of 507% in the last five years.

Novelis files US IPO documents

May 14, 2024

(20 second reading) Hindalco’s fully-owned subsidiary Novelis Inc filed the registration statement on form F-1 with the Securities and Exchange Commission (SEC) relating to the proposed IPO of its common shares. The Aditya Birla Group-owned company is likely to raise about $1.2 billion via its initial stake sale at an expected valuation of $18 billion.
Atlanta-based Novelis is the world’s biggest maker of flat-rolled aluminum products, used in an array of goods, from cars to soda cans. It intends to list its common shares on the New York Stock Exchange (NYSE) under the ticker symbol 'NVL'.
Morgan Stanley, BofA Securities and Citigroup are the lead book-running managers for the proposed IPO with Wells Fargo Securities, Deutsche Bank Securities and BMO Capital Markets acting as additional book-running managers.

Cochin Shipyard bags order from European client

May 14, 2024

(20 second reading) Cochin Shipyard Ltd has secured a "large" order from a European client for hybrid service operation vessels (SOVs) with an option for two more such vessels. A large order's value is classified between Rs. 500-1,000 crore.
The hybrid SOVs, equipped with innovative hybrid battery systems, are poised to set new standards in energy efficiency while significantly reducing the carbon footprint.
The vessel is designed and built for the service, maintenance and operational needs of the offshore wind farm industry in the European market where sustainable energy solutions are in high demand. The project is expected to be completed by the end of 2026, it said.

RVNL secures order from Southern Railway

May 14, 2024

(20 second reading) State-run Rail Vikas Nigam Ltd said it has clinched a contract from Southern Railway for Rs.239 crore, for Provision of Automatic Block Signaling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway.
The ABS system controls and manages train movements automatically using stop signals that are operated by trains passing the signals. It is designed to allow trains travelling in the same direction to follow each other safely without the risk of rear-end collisions.
RVNL reported a 6.2% year YoY decline in net profit at Rs.358.6 crore for the third quarter that ended December 31, 2023.

DLF Q4 Net profit up 61.5% to Rs 921 crore

May 13, 2024

DLF Q4 Net profit up 61.5% to Rs 921 crore, revenue up 47%
India's largest realty firm DLF reported a 61.5 percent jump in its net profit at Rs 921 crore for the quarter ended 31 March, 2024. The company had posted a net profit of Rs 570 crore in the year-ago period.
DLF's revenue also surged nearly 47 percent YoY to Rs 2,135 crore in the January-March quarter compared to Rs 1,456 crore the firm reported in Q4FY23.
Its EBITDA, or earnings before interest, taxes, depreciation, and amortization jumped nearly 90 percent to Rs 754.4 crore in the quarter under reveiew from Rs 398.3 crore a year ago. The company's margin came in at 35.3 percent versus 27.4 percent in Q4FY23.

Tata Power to spend Rs 20000 crore for FY25

May 13, 2024

(20 second Reading) Tata Power is planning to spend Rs 20,000 crore on capital expenditure this fiscal. Tata Power will spend half the amount toward renewable energy and the rest on distribution, transmission, and coal-based plants, according to a media report.
Tata Power reported a 11 per cent rise in its consolidated net profit to Rs 1,046 crore in the March 2024 quarter compared to the year-ago period on the back of higher revenues. Profit stood at Rs 939 crore in the quarter ended on March 31, 2023.

The power sector stock has gained 24% in 2024 and risen 98% in a year.

Zomato logs fourth straight quarter of profit 

May 13, 2024

(20 second reading) Zomato reported a net profit of Rs 175 crore for the January-March (Q4) period, marking the fourth straight quarter of the food aggregator’s earnings coming in the green.
Revenue rose 73 percent year-on-year to Rs 3,562 crore at a time when the broader e-commerce sector is reeling under the pressure of high inflation and muted demand.
During the same quarter last year, Zomato had posted a net loss of Rs 188 crore and a revenue of Rs 2,056 crore.
The food delivery company's stock price has been surging on the back of rising profitability in its core business and the fast growth of its quick commerce arm, Blinkit.

UPL posts Rs 40-cr net profit in Q4

May 13, 2024

(20 second reading) Agrochemicals manufacturer UPL Limited on May 13 reported a 95 percent drop in net profit at Rs 40 crore in the quarter ended March 31, 2024, from Rs 792 crore in the year-ago period. However, the profit jumped nearly 97 percent in the reported quarter from a loss of Rs 1,217 crore in the December quarter.
The Mumbai-headquartered company’s revenue also declined to Rs 14,078 crore in the fourth quarter from Rs 16,569 crore in the same period last year, a drop of 15 percent, the filing showed.

The company also declared a dividend of Rs 1 per equity share.

Tata Gets Serious About Chip Business

May 13, 2024

(20 second reading) Tata Group's Tata Electronics, which recently made news for exporting semiconductors from its Banglore research and development centre, has a new development brewing in the board room. According to reports, Tata Group Chairman Natarajan Chandrasekaran will take over the reigns at Tata Electronics.
The group has been more aggressively steering its ship of attention and ample resources in the advanced tech sector with Tata Batteries, Tata Electronics, and, by extension, Tata Motors, and their expanding presence in the ever-growing EV market.
Tata Electronics has been a growing force in the space, as the company, as per reports, is nearing the culmination of the tape-out process for semiconductor chips across various nodes, including 28, 40, 55, and 65 nanometers.

Taj announced Ekyam a new marketing platform

May 13, 2024

(20 second reading) Tata Group-owned Indian Hotels Company Ltd (IHCL), which operates the Taj Group of hotels, on Thursday announced Ekyam, a new marketing platform that will manage a portfolio of 25 hotels and 2,500 rooms by the end of 2025.
Ekyam will primarily manage properties across destinations that offer adventure experiences across the Indian Ocean, Greater Himalayan regions and wildlife escapes, and will club IHCL’s 11 existing and seven upcoming properties owned by its long-time partner Nepali diversified business conglomerate CG Group’s CG Hospitality.
These 11 properties —Taj Exotica Resort & Spa and Taj Coral Reef Resort & Spa in Maldives, Taj Samudra in Colombo, Taj Jumeirah Lakes Towers, in Dubai, and Taj Safaris, the wildlife luxury lodges in India (Bandhavgarh, Kanha, Pench and Panna) and Nepal (Chitwan and Kathmandu) - have 900 rooms in the Indian sub-continent and west Asia.

Mahindra Sold 6,160 Thars In April, Up 16%

May 13, 2024

(20 second reading) During the month of April, Mahindra & Mahindra achieved a total sale of 68,614 units, up 13% from the 60,481 vehicles sold in April 2023.
The company's flagship Thar sales for April stood at 6,160 units – translating to around 205 Thars sold every day. This is around a 16% jump from the 5,302 Thars the company sold in April 2023.
The auto manufacturer’s top-selling model for the month was the Scorpio again. The company sold 14,807 Scorpios last month. This is an over 50% rise from the 9,167 units sold in April 2023. 13,344 of these were diesel variants.

BEML reported 62.9 % growth in net profit

May 13, 2024

(20 second reading) BEML reported 62.9 per cent growth in net profit at Rs 256.8 crore for the quarter ended March 2024, led by healthy operating numbers. Its revenue from operations grew by 9 percent YoY to Rs 1,513.7 crore.The company's EBITDA surged 29.2 percent to Rs 370.4 crore, with an improvement in margins to 24.5 percent from 20.7 percent on YoY basis.
BEML is a public sector undertaking under the MoD, which serves sectors like defence, power and infrastructure. For FY24, BEML's net profit rose 78.46 percent YoY to Rs 281.77 crore as against Rs 157.89 crore during the previous fiscal ended March 2023. The PSU firm's sales rose 3.98 percent year-on-year to to Rs 4,054.32 crore as against Rs 3,898.95 crore in the year-ago period.

Pidilite Q4 profits decline

May 8, 2024

(20 second reading) The adhesive manufacturer, Pidilite's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs.577 crore, lower than the Rs.600 crore estimate. EBITDA margin also stood at 19.9%, lower than the estimate of 21.4%. Net profit for the quarter also stood at Rs.304.3 crore from Rs.415 crore earlier. Additionally, it also incurred an exceptional loss of Rs.71.7 crore on sale of shares in one of its subsidiary.
Among factors that worked for Pidilite during the quarter, revenue beat estimates, consumer business saw volume growth of 12.7% and gross margin saw healthy expansion.

SRF reports 24% decline in Q4 net profit

May 8, 2024

(20 second reading) Chemicals maker SRF Ltd reported a 24 percent YoY decline in consolidated net profit at Rs 422 crore for the Q4 of FY24. In the previous corresponding quarter, the company posted a net profit of Rs 562 crore.
Its revenue from operations dipped 5 percent to Rs 3570 crore as against Rs 3778 crore a year back.
At the operating level, EBITDA tanked 25 percent to Rs 696 crore as against Rs 932 crore last fiscal. EBITDA margin stood at 19.5 percent as compared to 24.6 percent in the same period a year ago.
While the general performance has been weak, it has seen a reasonable recovery in its Chemicals Business in the Q4

Happiest Minds Tech Q4 profit rises 25%

May 8, 2024

(20 second reading) Happiest Minds Technologies’ acquisitions of Pure Software and Macmillan Learning India will reduce the company’s operating margins to a range of 20-22% in FY25 from 24.6% reported in FY24.
The company posted an EBITDA margin of 19.9% for Q4FY24, a slight increase from 19.7% in Q3FY24. Revenue for the January-March period was Rs 417 crore, marking a sequential increase of 1.8%, while the net profit surged by 25% to nearly Rs 72 crore.
The attrition rate fell to 13% on a trailing 12-month basis in the Jan-March quarter, down from 14.1% in Q3FY24. This improvement aligns with broader industry trends, indicating a stabilising workforce environment.

Canara Bank Q4 profit rises 18 pc

May 8, 2024

(20 second reading) State-owned Canara Bank reported an 18 per cent rise in net profit to Rs 3,757 crore during the fourth quarter ended March 2024 on the back of improvement in core income and reduction in bad loans. The bank had earned a net profit of Rs 3,175 crore in the year-ago period.
During the quarter, the bank's total income increased to Rs 34,025 crore as against Rs 28,685 crore a year ago, Canara Bank said.
Interest income grew to Rs 28,807 crore during the period under review from Rs 23,910 crore in the corresponding quarter a year ago.

Godrej Agrovet Q4 net profit triples

May 8, 2024

(20 second reading) Agri-business company Godrej Agrovet Ltd reported a threefold YoY jump in net profit at Rs.65.5 crore for the fourth quarter that ended March 31, 2024.
In the corresponding quarter, Godrej Agrovet posted a net profit of Rs.23.5 crore. The company's revenue from operations increased 1.9% to Rs.2,134.3 crore against Rs.2,095 crore in the corresponding period of FY23.
EBITDA jumped 98.1% to Rs. 148 crore in the Q4 of this fiscal over Rs.74.7 crore in the year-ago period. The EBITDA margin stood at 6.9% in the Q4 versus 3.6% in the corresponding period

Hero MotoCorp Profit Jumps 15%

May 8, 2024

(20 second reading) Hero MotoCorp’s revenue from operations for the quarter stood at ?9,519 crore, up 15% from the Rs.8,307 crore posted in the same quarter last year. The auto major’s net profit for the quarter was at Rs.1,016 crore, reflecting a growth of 18% over Rs.859 crore reported in the previous year.
The company sold 13.92 lakh units of motorcycles and scooters in the March quarter.
EBITDA for the March quarter stood at Rs.1,359 crore, up 25% YoY. EBITDA margin for the quarter was at 14.3%, reflecting an improvement of 120 bps YoY basis. The company attributed the improvement to a better product mix, lower commodity costs, higher savings, and judicious price increases.

Kotak Mahindra Bank Q4 Net Profit soars 18%

May 7, 2024

(20 second reading) Kotak Mahindra Bank reported a net profit of Rs 4133 crore for the Q4 FY24, up by 18 percent from Rs 3496 crore reported in the corresponding quarter of last year.
The lender's net interest income came at Rs 6,909 crore, up by 13 percent YoY from Rs 6,103 crore last year. The net interest margin (NIM) of the lender was at 5.28 percent for Q4FY24.
The GNPA of the lender stood at 1.39 percent versus 1.78 percent last year and NNPA was at 0.34 percent compared to 0.37 percent last year.
The advances of the bank increased 20 percent YoY to Rs 3.91 lakh crore as versus Rs 3.25 lakh crore last year. For the full year FY24, the lender's profit increased to Rs 13,782 crore from Rs 10,939 crore in FY23, up 26 percent YoY.

Godfrey Phillips agreement with Ferrero

May 7, 2024

(20 second reading) Godfrey Phillips India signed an agreement with Ferrero India Pvt. Ltd for the distribution and resale of select sweet-packaged food products manufactured by Ferrero through its network.
Ferrero, a subsidiary of the Italy-based Ferrero Group known for its premium chocolates.
Godfrey Phillips India produces a range of cigarette brands, including Four Square, Red & White, Cavanders, Stellar, Focus, Originals International, and others.
The initial agreement pertains to the distribution of Ferrero products in the domestic market in India for two years, the company informed the bourses.

MRPL Q4 net profit slumps 40%

May 7, 2024

(20 second reading) MRPL reported a 40.5% YoY decline in net profit at Rs.1,138.5 crore for the Q4 FY2024 compared to net profit of Rs.1,913.4 crore in Q 4 of last year. The company's revenue from operations declined 0.1% to Rs.25,328.7 crore against Rs.25,365.4 crore in the corresponding period of the preceding fiscal.
The EBITDA margin stood at 9.2% in the reporting quarter compared to 13.8% in the corresponding period in the previous fiscal.
The board of directors has recommended a final dividend of Rs.2 per equity share of Rs.10 each fully paid-up.

Avenue Supermarts Q4 net profit rises 22.5%

May 7, 2024

(20 second reading) Avenue Supermarts, the operator of retail chain DMart reported consolidated net profit at Rs 563 crore for the Q4, registering a growth of 22.5 % from Rs 460 crore in the Q4 of the previous financial year.
The company reported total revenue at Rs 12,726.6 crore, rising 20 percent from Rs 10,594 crore in the year-ago quarter,
The company has 284 stores that are two years or older. DMart opened 41 new stores during the year and our total store count stands at 365. Its E-Commerce business commenced operations in Gurugram during the year. It is now present across 23 cities in India.

IDBI Bank Q4 Net profit jumps 44%

May 7, 2024

(20 second reading) IDBI Bank reported a 44 per cent jump in net profit at Rs 1,628 crore in the Q4 of 2023-24, compared to net profit of Rs. 1133 in the Q4 of last year.
Total income rose to Rs 7,887 crore in the period under review, from Rs 7,014 crore in the January-March period of fiscal year 2022-23.
For the 2023-24 fiscal, net profit grew 55 per cent to an all-time high of Rs 5,634 crore. In 2022-23, the profit was at Rs 3,645 crore. Total income for fiscal year 2023-24 was at Rs 30,037 crore, up from Rs 24,942 crore in financial year 2022-23.

Why is INOX India share price skyrocketing?

May 7, 2024

(20 second reading) INOX India shares have been in an uptrend since they bottomed out at around Rs.810 apiece at the beginning of the last week of January 2024. After that, INOX India share price has remained an idea 'buy-on-dips' stock for positional investors. In YTD time, INOX India share price has surged from nearly Rs.880 to Rs.1395 apiece on NSE, logging almost 60 percent rise in 2024. According to stock market experts, the company is in the business of cryogenic storage, which has demand in various sectors like chemical, healthcare, oil and gas, etc. Cryogenic equipment in India is projected to grow at a CAGR of 7.2 percent. INOx India shares may continue the bull trend and touch the Rs.1500 mark in the short term.

Godrej Consumer net loss of Rs 1893 crore in Q4

May 7, 2024

(20 second reading) Godrej Consumer Products reported a consolidated net loss of Rs 1,893 crore for the Q4 against a net profit of Rs 452 crore. The loss is due to one-time exceptional loss of Rs 2,376 crore.
The total revenue of the company stood at Rs 3,385.61 crore, rising 6 percent from Rs 3,200.16 crore a year ago, the company said in a regulatory filing.
In the realm of Personal Care, the latest introduction, Goodknight Agarbatti, is gaining traction and revolutionizing the Rs 21,200 crore market of Mosquito Incense Sticks, primarily dominated by illicit players.Personal Care witnessed a 4 percent growth primarily driven by volume.

Arvind SmartSpaces Q4 net profit zooms 86%

May 7, 2024

(20 second reading) Realty firm Arvind SmartSpaces reported an 85.7% YoY jump in net profit at Rs 19.5 crore for the Q4 that ended March 31, 2024, compared to Rs. 10.50 crore in last fiscal Q4.
The company's revenue from operations increased 26.6% to Rs. 117.4 crore against Rs. 92.7 crore in the Q4of the preceding fiscal.
FY24 has been a landmark year for the company with milestones achieved across bookings, collections and business development. The company has recorded the highest ever annual bookings of Rs.1,107 crore, a growth of 38 per cent year-on-year YoY.
The company added four new projects in Ahmedabad, and one each in Bengaluru and Surat.

Selan Exploration profit in Q4 rise 103%

May 7, 2024

(20 second Reading) Selan Exploration reported a 103% rise in Q4 net profit. Profit climbed to Rs 12.25 crore in Q4 against Rs 6.03 crore in the March 2023 quarter. Revenue climbed 26% to Rs 56.28 crore in the last quarter against Rs 44.75 crore in the corresponding quarter of the previous fiscal.
EBITDA in Q4 rose 49.17% to Rs 28.06 crore against Rs 18.81 crore in the corresponding quarter of the previous fiscal. EPS climbed to Rs 8.06 in Q4 against Rs 3.97 in the Q4 of FY23.
Profit in the last fiscal climbed to Rs 32.78 crore against Rs 30.85 crore in the March 2023 fiscal. Revenue rose to Rs 170.57 crore in FY 24 against Rs 121.95 crore in FY23. EBITDA in FY24 rose to Rs 83.43 crore against Rs 62.71 crore in the previous fiscal.

Selan Exploration shares have gained 260% in two years and risen 158% in a year.

Wipro to help lower New Yorkers’ medical costs

May 3, 2024

(20 second reading) Indian IT major Wipro Ltd said it has been selected by Independent Health, western New York’s only 5-star rated Medicare Advantage Plan, to implement the company's Medicare Prescription Payment Plan (MPPP360) platform for the upcoming open enrolment period.
Starting in 2025, the Medicare Prescription Payment Plan will allow users to make capped monthly payments for out-of-pocket prescription drugs, among other changes. The new law aims to improve access to affordable treatments and strengthen Medicare.
Wipro's MPPP360 platform will assist Independent Health in streamlining the payment process to seamlessly integrate these new provisions, simplifying prescription cost management

Ceat reports decline in Q4 net profit

May 3, 2024

(20 second reading) Tyre maker Ceat announced that its net profit dropped 22.76% year-on-year to Rs.102.27 crore for the Q4 that ended March 31, 2024, from Rs.132.4 crore in the year-ago period.
The company's revenue from operations grew 4.1% to Rs.2,991.9 crore compared to Rs.2,874.8 crore in the same period last fiscal year.
Additionally, at the operating level, its EBITDA rose by 6.5% to Rs.391.7 crore in this fiscal quarter from Rs.367.8 crore in the corresponding period of the previous fiscal year.
The board has proposed a final dividend of Rs.30 per equity share, equivalent to 300% of the face value of Rs.10 each fully paid up

South Indian Bank reports14% dip in Q4 profits

May 3, 2024

(20 second reading) Thrissur-based South Indian Bank reported a 14 per cent fall in net profit to Rs 287.56 crore in the last quarter against Rs 333.89 crore. Operating profit slipped 23% in Q4 to Rs 433.54 crore against Rs 561.55 crore during the Q4 of FY23. However, net interest income in Q4 rose 2 per cent to Rs 874.67 crore in Q4 against Rs 856.18 crore in Q4 of FY23.
The bank reported a 38% rise in net profit to Rs 1,070.08 crore in the last fiscal compared to Rs 775.09 crore in FY 22-23. Operating profit of the lender climbed 24 per cent to Rs 1,867.67 crore in FY24 against Rs 1,507.33 crore in FY23.Gross NPA in Q4 slipped 64 basis points to 4.50 %, Net NPAs fell 40 basis points to 1.46 per cent in Q4 from 1.86 %.

Raymond’s Profit Jumps 18% To Rs.229 Cr

May 3, 2024

(20 second reading) Fabric and fashion retailer Raymond posted an 18% increase in net profit at Rs.229.21 crore, up 18% from the Rs.194 crore posted in the same quarter last year. The revenue from operations for the quarter came in at Rs.2,608.50 crore, up 21% from the Rs.2,150 crore posted in last year.
The company achieved its highest-ever quarterly EBITDA at Rs.516 crore & an EBITDA margin of 19.2% in the March quarter. Its focused business approach across its operations led to strong growth in the ‘Branded Apparel’, ‘Garmenting’, and ‘Real Estate’ segments, resulting in an impressive double-digit revenue growth of 11% in FY24 as compared to the previous year.
In the Q4, ‘Branded Textile’ segment sales were at Rs.920 crore, while the Branded Apparel segment reported topline growth of 23% with sales at Rs.409 crore.

Coal India’s Q4 Up by 26.2 pc

May 3, 2024

(20 second reading) In the March quarter, CIL reported a 26.2 per cent increase in consolidated net profit, reaching Rs 8,682.20 crore compared to Rs 6,875.07 crore in the corresponding period of the previous fiscal year. This substantial growth underscores the efficacy of its strategies in optimizing coal production and distribution.
While the consolidated income for the January-March period decreased marginally to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago.
CIL's PAT on a consolidated basis exhibited a robust growth of 25.8 per cent, amounting to Rs 8,640 crore in the Q4 of FY24. compared to PAT of Rs 6,869 crore last year.