Spandana Sphoorty reported consolidated net profit of Rs 122 crore for the quarter ended March 2024. The net interest income jumped 21% year-on-year.
NSE has to share the valuation report with Sebi and the company. Within two weeks of receiving the valuation report, Linde should place it before the audit committee and board of directors, the regulator said in an interim order.
Draft Digital Competition Bill proposes ex-ante regulations similar to the EU's DMA, impacting user experience and innovation. Concerns over potential overregulation and necessity of new laws in India are being debated.
BluSmart aims for Rs 800 crore FY25 revenue, with BP Ventures support. Competing with Rapido, Namma Yatri, targeting Ebitda profitability by 2026. Founder Jaggi under investor scrutiny for Dubai connections.
Will back, build and buy out companies in India; focus is on investing in a small cohort of startups and own large stakes in them, says Arjun Sethi, cofounder, Tribe Capital
Wipro's new CEO, Srinivas Pallia, to receive $7 million annual compensation for two years. Thierry Delaporte to be paid $4.33 million in cash. Pallia's contract for five years starting from 2024.
April has been a scorching month for summer products like air-conditioners, refrigerators, air-coolers, soft drinks, and ice creams, with sales soaring 40-50%. This surge has led to concerns among appliance manufacturers about meeting demand, especially in the south and east where sales have spiked 150-200% due to ongoing heatwaves. The north, the largest market for cooling appliances, is yet to experience the full impact of the heatwave. Manufacturers warn of possible shortages in May as component planning did not anticipate such high demand... Читать дальше...
Regulatory actions cripple Paytm Payments Bank's mobile wallet business, leading to a significant decline in transactions and value. Competitors like Mobikwik, PhonePe, Amazon Pay, and Slice experience growth in their wallet businesses.
Deal momentum slowed in 2023-24 despite record deals as clients favor new over old deals. Vendor consolidation and slower decision-making ensued, impacting near-term revenues for service providers who must be proactive.
AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capital-backed India Opportunities XII Investments, and Nirma group-backed Nuvoco Vistas Corporation submitted expressions of interest (EoIs). Naveen Jindal group company called Jindal Panther Cement, and PN Group-promoted CN Infrabuild also gave separate EoIs.
Kotak is lending $150 million (₹1,250 crore) under a mezzanine debt facility to Prasad at 18-20% and arranging an additional $300 million from other lenders including Edelweiss Domestic Performing Credit Fund, two people close to the development said. The Edelweiss fund is lending the money, a senior debt facility, at 10-11%.
BSE said on Friday that Sebi has directed the exchange to pay a regulatory fee based on annual turnover, taking into account the 'notional value' of the options contracts. BSE has been paying this fee considering the value of the options premium. The fee based on premium value is lower than that taking into account the notional value.
The Nifty's PE ratio, based on trailing earnings, has dropped to 22 times from 33 times on March 30, 2021. Analysts said the PE ratio suggests the Nifty is trading at fair valuations, which means the index is neither cheap nor expensive.
Following the merger of HDFC and HDFC Bank on July 24 last year, HDFC Bank's market-cap was 82% higher than ICICI Bank. ICICI Bank was valued at ₹6.94 lakh crore then while HDFC Bank's market- cap stood at ₹12.66 lakh crore. On Monday, this gap was reduced to 41%, with HDFC valued at ₹11.49 lakh crore and ICICI Bank at ₹8.14 lakh crore.
The consumer electronic stock moved in a narrow range after hitting a high of Rs 1,590 on March 2, 2024. It found support above 1,400 levels. Witnessing a breakout last week, the stock surpassed 1,600 levels. It rose over 9% in the past 5 trading sessions. The momentum helped it break out from the 200-point consolidation range on the daily charts. It closed at Rs 1,639 on April 26, 2024.
China Southern Airline to launch its longest flight route as ties with Mexico expand. This will be a non-stop flight in the onward segment even as the return journey will have a one stop flight.
Artificial Intelligence based death predictor Life2vec has issued a warning against imposters. Tool is yet to be released for the general public.
Rock Star Jon Bon Jovi reflects on various incidents in his life. Appreciates his wife who stood by him through thick and thin.
After its finale, tvN's "Queen of Tears" will return for a special two-episode run. The release date is May 4 and 5 at 9:20 pm KST. Details about the episodes are slim, but they will focus on the BaekHong couple. It's unclear if the special episodes will be available on Netflix.
