ITC’s standalone profit witnessed a year-on-year growth of 28.6% at Rs. 3,103.5 crore for the first quarter ended June 2021. This figure stood at Rs. 2,342.76 crore in the previous fiscal’s corresponding period. The company noted that this substantial jump was a direct result of its sequential recovery in cigarette sales. In fact, the volume …
On 21 July 2021, Bharti Airtel announced its collaboration with Intel to accelerate India’s 5G network rollout. They plan to leverage vRAN (virtualised Radio Access Network) and O-RAN (Open Radio Access Network) to transform Airtel’s network and provide their customers with the benefits of next-gen technologies. As members of the O-RAN Alliance, Airtel and Intel …
Last week, the stock exchanges saw some serious dips in the market valuations of 6 of its top 10 companies. Out of them, HDFC Bank stood out with the highest slag of Rs. 43,578.18 crores to stand at Rs. 797422.67 crores on Friday. Other companies like Hindustan Unilever Ltd., Reliance Industries Ltd., Kotak Mahindra Bank, …
Unilever’s mid-year results should provide a sign of how the FMCG giant is managing the increasing commodity and transportation costs. Moreover, it will show if they have managed to navigate a price hike without compromising sales volume. Even though Unilever, in its earlier prediction, did not foresee any significant changes to its underlying profits, analysts …
An Overview On Thursday, investors’ wealth increased by Rs. 2,93,054.25 crores as markets recovered from a three-day losing streak. The 30-share BSE benchmark Sensex rose 638.70 points, or 1.22 percent, to 52,837.21 at the closing. It rose 668.75 points to 52,867.26 over the day. Following the optimistic trend, BSE-listed businesses’ market capitalization increased by Rs. …
The Reserve Bank of India (RBI) is looking at introducing digital currency, called the Central Bank Digital Currency (CBDC) in a phased manner, as per a recent statement from the RBI’s deputy governor. Reports suggest that there is a possibility of testing a digital currency as part of a pilot programme in the near future. …
Indian Edtech behemoth, Byju’s has completed the takeover of Epic, a US-based company that provides an online reading platform to kids. As per reports, the cost of acquisition is $500 million, which makes it the second-biggest acquisition for Byju’s till now. That said, the company has not disclosed the cash and stock breakup of the …
An Overview In the first two months of the current fiscal year, India continued to garner significant foreign direct investment inflows. Inflows increased in April-May compared to the same period last year. However, a third of the inflows were due to secondary market purchases of shares rather than company investments in facilities, allowing the country …
Even as the quarterly earnings season (Q1 FY22) for India’s corporates is underway the spotlight is on the cash holdings of these firms. News reports suggest that the total cash and bank balance of over 300 firms in the BSE-500 universe, barring banks and financials, grew at the fastest pace in a decade in FY …
Ambani’s Shopping Binge Continues Reliance Retail made an open offer to JustDial investors at a 5% discount to the current price, which dragged on the latter’s stock on Monday. The Just Dial stock dropped to a low of Rs. 1,016 on Monday before recovering to Rs. 1,023 — still down 4.67 percent for the day. …
