State-run Power Grid Corporation of India is planning a substantial undersea interconnection project worth up to ₹40,000 crore with countries in the Middle East. This ambitious venture comes as the company grapples with a subdued June quarter, where revenues remained almost stagnant. Chairman and Managing Director R K Tyagi anticipates a modest topline growth of …
The Aditya Birla Group has unveiled its latest venture, Indriya, marking its entry into the highly competitive Indian jewellery market. This strategic move positions the conglomerate to compete with established giants like Tata Group’s Tanishq and Reliance’s Reliance Jewels. With a substantial investment of 5,000 crore, the Aditya Birla Group aims to rapidly expand Indriya’s …
Tata Steel Limited has announced a substantial investment of USD 875 million (approximately ₹7,324.41 crore) in its wholly-owned subsidiary, T Steel Holdings Pte. Ltd (TSHP). This investment, made through the acquisition of 557,32,48,408 equity shares, solidifies Tata Steel’s complete ownership of TSHP. This strategic move aligns with the company’s broader financial strategy and is aimed …
IdeaForge Technology, a leading player in the Indian unmanned aircraft systems (UAS) market, announced its financial results for the quarter ended June 30, 2024. The company reported revenue from operations of INR 861.9 million, a slight decline from INR 970.7 million in Q1 FY24. EBITDA stood at INR 84.6 million with a margin of 9.8%, …
TCPL Packaging Limited, a leading player in the sustainable packaging industry, has recently made headlines with its remarkable stock performance. On Tuesday, the stock hit an upper circuit of 20%, marking its highest single-day gain in over five years. This surge reflects the company’s strong financial results and strategic initiatives, making it a standout performer …
Varun Beverages announced its Q1FY25 results today. The company reported a consolidated net profit of Rs.1,262 crore for Q1FY2025, marking a significant 26% increase from Rs.1,005 crore in the same quarter last year. This profit growth aligns closely with analysts’ estimates, which had projected Rs.1,275.92 crore. Metric Q1FY25 Q1FY24 % Change Revenue Rs.7,197 crore Rs.5,811 …
Companies Announce Share Buybacks Following Tax Changes In the wake of proposed tax changes announced by Finance Minister Nirmala Sitharaman during her Budget 2024 speech on July 23, five companies are set to announce share buybacks by the first week of August. New Taxation on Share Buybacks The Finance Minister proposed a significant change, stating, …
GE Power India Limited has recently secured significant contracts from NTPC Limited and SNJ Distillers Private Limited. The total value of these contracts stands at Rs 3.51 Crores (excluding GST 18%), marking a notable achievement for the company. Here’s a detailed look into the recent developments and what they mean for GE Power India Limited. …
The Indian stock markets exhibited a positive bias on Tuesday. The Nifty50 index added 115 points to trade at 24,950, while the Sensex advanced by 375 points to reach 81,727. Among the indices, the Nifty Bank index outperformed with a 0.57% gain. Additionally, the broader indices, Nifty Midcap and Smallcap, hit fresh highs, indicating strong …
On July 29, 2024, the benchmark indices Nifty was up 0.01% to close at 24,836 and Sensex rose 0.03% to close at 81,355, respectively. Top Gainers and Losers On the sectoral front, Nifty PSU Bank, Nifty Media, Nifty Realty and Nifty Oil and Gas ended in the green. Meanwhile, Nifty IT and Nifty FMCG were …
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