Benchmark indices, which began today’s trading session on a weaker note, quickly recovered to trade higher, driven by gains in the power, utilities, capital goods, metals, and auto sectors. Broader indices significantly outperformed the main indices. However, shares of Wipro Ltd plunged over 8% after the company’s weak Q1 earnings failed to meet street expectations. …
On Monday, the benchmark indices were trading in the green with the Sensex up around 20 points or 0.03% at 80,600, while the Nifty-50 was up around 7 points or 0.02% at 24,535. About 1,938 shares have advanced; 1,347 declined and 166 are unchanged on the BSE. Top gainers and losers on the BSE Sensex …
About Approval TARC Limited, a leading real estate developer in New Delhi, has announced the appointment of Arabian Construction Company (ACC) as the principal contractor for their two upcoming luxury residential projects – TARC Kailasa and TARC 63A Gurugram. This collaboration promises to redefine luxury living in Delhi and Gurugram. TARC Limited, known for its …
The Nifty Auto index has shown impressive growth, delivering a return of 35.77% in the past 6 months and about 60% in the last year. This remarkable performance has brought attention to some of the top-performing auto companies. Let’s delve into the best performers in the sector, based on their recent returns and other key …
Tata Power, a leading Indian energy company, sees significant cost reductions in energy storage and green power due to technological advancements. This focus comes amid rising demand for uninterrupted power. While current lithium-ion technology and economies of scale offer some cost benefits, CEO Praveer Sinha acknowledges there won’t be enough. He emphasises the potential of …
Reserve Bank of India (RBI) Governor Shaktikanta Das expressed concerns about the widening gap between credit and deposit growth as household savings increasingly shift away from traditional deposits. He urged banks to adopt new strategies to attract deposits and manage liquidity risks effectively. Das noted that households, which traditionally relied on banks for saving and …
Garden Reach Shipbuilders Ltd. (GRSE), a state-owned shipyard, has signed two confidential MoUs (Memorandums of Understanding) to develop advanced technologies for the Indian Navy. On July 18 2024, GRSE shares opened at ₹2,589.45 and closed at ₹2,532.45 with a fall of 1.17%. The fall continued on July 19, and the shares closed at ₹2,455.35. However, …
The Central Board of Direct Taxes (CBDT) has taken a significant step towards modernising the Indian tax system by awarding the Taxnet 2.0 project to Bharti Airtel Ltd. This project aims to overhaul the Income Tax Department’s (ITD) existing digital infrastructure by providing a robust and secure platform for taxpayers and departmental users. A Leap …
On July 20, 2024, Netweb Technologies India Limited (Netweb), a leading Indian-origin OEM specialising in High-End Computing Solutions (HCS), announced its Q1 FY25 results. Key Financial Highlights: Q1 FY25 Total Income: ₹1,532 million, a 154.4% increase from Q1 FY24. EBITDA: ₹239 million, up 164.1% from Q1 FY24, with an EBITDA margin of 15.6%. PAT (Profit …
On July 20, 2024, Poonawalla Fincorp Limited, a key non-deposit-taking NBFC specialising in consumer and MSME finance, released its unaudited financial results for the quarter ending June 30, 2024. The company showed steady growth in assets under management (AUM) and profitability and maintained high asset quality and strong customer engagement. Poonawalla Fincorp Limited Q1 FY25 …
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