Muthoot Finance shares surged 5% on the morning of February 15 following the company’s announcement of a 14% rise in net profit for the December quarter. Despite this positive performance, brokerages maintain caution due to margin concerns. Over the past month, the stock of this gold financing company has declined by over 6%, compared to […]
Singaporean sovereign wealth fund GIC made a significant investment in Data Infrastructure Trust, acquiring shares worth Rs 5,747.04 crore. GIC, acting through its subsidiary Anahera Investment PTE, purchased 37,44,00,000 shares at a price of Rs 153.5 per share in the Infrastructure Investment Trust (InvIT). BCI IRR India Holdings Inc also participated in the investment, purchasing […]
Benefiting from the robust performance of its automotive segment, favorable product mix, and operating leverage, Mahindra & Mahindra (M&M) saw its standalone net profit soar by 60 percent Year-on-Year (YOY) to Rs 2,454 crore. This marked a significant increase from the Profit after Tax (PAT) of Rs 1,528.06 crore recorded during the same period last […]
Eris Lifesciences Ltd., a prominent player in the Indian pharmaceutical industry, has announced the acquisition of a 51 percent equity stake in Swiss Parenterals Ltd. for Rs 637.50 crore, expanding its presence in sterile injectables. This move marks Eris’s entry into RoW Export Markets. Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd., expressed […]
JSW Steel Limited has unveiled a partnership with JFE Steel Corporation, Japan, to establish JSW JFE Electrical Steel Private Limited, a firm dedicated to manufacturing Grain Oriented Electrical Steel in India. Situated in District Bellary, Karnataka, the manufacturing facility represents a planned investment of Rs 5500 crores. A groundbreaking ceremony was held on February 12, […]
Shares of GR Infraprojects experienced a nearly 3 percent decline in early trading on the NSE on February 13, following the infrastructure company’s announcement of a 25 percent year-on-year decrease in Q3 profit due to weak operating performance and revenue. At 9:50 am, the stock was trading at Rs 1,195.90. In a regulatory filing dated […]
Yes Bank witnessed a surge of up to 13 percent in early trading on the NSE on February 6, following the Reserve Bank’s approval for HDFC Bank to acquire stakes in it and five other lenders. By 11:08 am, the Yes Bank stock was trading at Rs 25, reflecting a 9.5 percent increase from the […]
In a regulatory filing with the Bombay Stock Exchange (BSE), IndusInd Bank revealed that the Reserve Bank of India (RBI) has granted approval to HDFC Bank Group’s application to acquire an “aggregate holding” of up to 9.5 percent of the paid-up share capital or voting rights in IndusInd Bank Limited. The approval, dated February 5, […]
Shares of One97 Communications Ltd, the parent company of the Paytm brand, faced another significant downturn on Friday, plunging by 20% after the Reserve Bank of India (RBI) directed Paytm Payments Bank Ltd (PPBL) to cease accepting deposits or top-ups in any customer accounts, wallets, FASTags, and other instruments after February 29. The stock hit […]
Abbott India witnessed a 9% surge in its shares during morning trading on February 2 after announcing robust earnings for the December quarter. The company reported a net profit of Rs 311 crore in Q3, marking a 26% YoY increase. Despite the adverse impact of including key drugs in the government’s essential medicines list, which […]