The State Bank of India (SBI), the country’s largest lender, reported a net profit of Rs 17,035 crore for the first quarter of the current financial year, marking around a 1 % increase. Net Profit: SBI’s net profit for Q1 FY25 increased by approximately 1% to Rs 17,035 crore compared […]
Morepen Laboratories Ltd, a pharmaceutical company, has initiated a Qualified Institutional Placement (QIP) to raise a substantial amount of Rs 250 crore. The company has also included a greenshoe option to potentially increase the issue size by an additional Rs 115 crore. Key Details of the QIP: Issue Size: Rs […]
MCA to Strike Off Chinese Companies: The Ministry of Corporate Affairs (MCA) in India is set to remove around 400 Chinese companies from the register in the next three months. Reasons for Strike-Off: These companies are being targeted due to incorporation and financial frauds. Loan Apps and Online Job Companies […]
dani Ports and Special Economic Zones reported a strong start to the fiscal year with a 47% year-on-year increase in consolidated net profit to Rs 3,113 crore for the April-June quarter. The port operator also saw a notable increase in its revenue from operations, which stood at Rs 6,956 crore […]
ITC Ltd. announced on August 1 that its standalone net profit for the June quarter rose marginally to Rs 4,917 crore, from Rs 4,903 crore in the same quarter the previous year, missing market expectations. A Moneycontrol poll of 7 brokerage estimates had pegged ITC’s fiscal first-quarter net profit at […]
Maruti Suzuki’s stock price surged by 4% to a record high due to its exceptional performance in the first quarter.On August 1, shares of Maruti Suzuki surged by 4 percent, reaching a record high of Rs 13,675. This impressive growth has prompted brokerages to revise their target prices upwards. Reasons […]
Brainbees Solutions Ltd, which operates the Omnichannel kidswear brand FirstCry, is launching its initial public offering (IPO) with a price band of Rs 440-465 per share. Here are the key details: Issue Open Date : August 6 Anchor Bidding Start Date : August 5 IPO Close Date : August 8 […]
Net Profit Rises 51% to Rs 960 Crore, Misses Estimates; Recovery in Netherlands Offset by India and UK Challenges. Net Profit: Increased by 51% to Rs 960 crore compared to the previous year. Market Expectations:The profit figure fell short of analysts’ estimates. Regional Performance: Netherlands: Showed signs of recovery. India […]
Infosys, India’s second-largest IT company, has been issued a demand notice for alleged tax evasion amounting to over Rs 32,000 crore by the Directorate General of GST Intelligence (DGGI). Tax Demand: The demand is for Rs 32,403.46 crore for IGST under RCM on supplies received from overseas branch offices. Reverse […]
Granules India has announced impressive financial performance for the first quarter ended June 30, 2024. Key Highlights: Net Profit: A significant 181% year-on-year surge to Rs 1,346 crore. Revenue: Increased by 20% to Rs 11,799 crore compared to the same period last year. EBITDA Margin: Improved by 600 basis points […]