At least one person died while two dozen others were injured when low visibility due to fog led to a pile-up involving six vehicles on the Agra-Lucknow Expressway in the Unnao district of Uttar Pradesh on Wednesday. The incident occurred when a double-decker bus lost control due to poor visibility and struck the central divider […]
Patanjali Foods shares hit a lower circuit, falling 5% to Rs 912.90 on Thursday after the NSE and BSE froze the equity shares held by promoters and promoter group of Patanjali Foods Ltd for failing to increase its public shareholding from 19.18% to 25% within the stipulated deadline. “The company came up with Further Public […]
HUL shares fell more than 3% on Friday to Rs 2,550 on NSE on profit-booking after the company’s Q3 results beat street estimates. HUL’s net profit for the quarter ended 31 December 2022 increased to Rs 2,505 crore, up 12% from Rs 2,243 crore reported in the year-ago period. The FMCG behemoth’s revenue from operations […]
The Central Government on Thursday cut the windfall tax or the special additional excise duty (SAED) on domestically produced crude oil and diesel exports. The windfall tax on crude petroleum produced by companies like the state-owned Oil and Natural Gas Corporation (ONGC) has been reduced to Rs 4,350 from Rs 5,050/tonne as per the previous […]
By Raghvendra Nath Equity Markets provide an instant reflection of everything happening in the Economies, directly or indirectly. Markets have been known to price risk better than anyone else. One may even say that markets are a true reflection of the collective wisdom of all participants, big and small. The nature of Equity markets is […]
Equated monthly installment (EMI) cards are a popular medium of credit, with it being preferred by 49% of borrowers, a survey by Home Credit India showed. The survey was conducted across 17 cities, including Mumbai, Kolkata, Chennai, Pune, Hyderabad, and Delhi – National Capital Region. The ‘How India Borrows’ survey noted that since 2021, the […]
The 2022-23 fiscal was the best year for public share sales of small and medium enterprises (SMEs) as individual investors, lured by eye-popping returns, flocking to pick up these offerings. SME firms mopped up Rs 2,232 crore by way of 125 offerings in FY23, more than thrice the 37 mainboard issuances that have hit the […]
JG Chemicals, a Kolkata-based zinc oxide manufacturer, received the final observation from the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering. The IPO will consist of a fresh issue of equity shares worth up to Rs 202.5 crore, as well as an offer-for-sale (OFS) component of 5.7 million […]
KMB reported strong earnings growth, with a 26% y-o-y increase in standalone PAT to Rs35 bn, driven by lower operating expenses and controlled provisions, as PPoP was up 39% y-o-y. Consolidated PAT grew 17% y-o-y to Rs 45.7 bn during the quarter. Loan growth moderated sequentially to around 3%, while the margin expanded further by […]
Oil prices rose in early Asian trade on Thursday after the U.S. Federal Reserve raised interest rates by 25 basis points, sending the dollar lower. Brent crude futures rose 56 cents, or 0.7%, at $83.40 a barrel while West Texas Intermediate (WTI) U.S. crude futures rose 65 cents, or 0.8%, to $77.05 a barrel. The […]
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