In a strategic move to optimize its investment portfolio, Canara Bank announced on Friday its approval to initiate the process of diluting a 14.5% stake in its subsidiary, Canara HSBC Life Insurance Company Ltd. The bank plans to execute this by listing the company on major stock exchanges (BSE/NSE) through an initial public offering (IPO). […]
Travel distribution platform TBO Tek has announced impressive financial results for the fiscal year 2024, reporting revenues of Rs 1,393 crore, marking a 31% increase year-on-year. The company also recorded a net profit of Rs 201 crore for FY24, up 35% from the previous year. Gaurav Bhatnagar, Co-Founder and Joint Managing Director of TBO Tek […]
Realty firm Shriram Properties announced a 32% increase in consolidated net profit for the March quarter, reaching Rs 20.18 crore compared to Rs 15.25 crore in the same period last year. This growth is attributed to a significant rise in total income, which doubled to Rs 358.37 crore in Q4 FY24 from Rs 170.98 crore […]
Aadhar Housing Finance, which was listed just a fortnight ago, announced a significant 43% year-on-year increase in net profit for the March quarter, reaching Rs 202 crore compared to Rs 141 crore in the same period last year. This impressive performance highlights the company’s strong financial health and effective growth strategies. The total income for […]
Prestige Estates Projects reported a substantial 70% decline in its consolidated net profit for the quarter ended March 2024, registering Rs 140 crore compared to Rs 468.4 crore in the same period last year. This sharp decrease in profit is primarily attributed to lower quarterly income, as detailed in a regulatory filing late Tuesday. The […]
IFB Industries Ltd reported a consolidated net profit of Rs 12 crore for the fourth quarter ended March 31, 2024, a significant improvement from the net loss of Rs 9.94 crore in the same period last year. According to a regulatory filing on Tuesday, this positive turnaround is attributed to robust performances in both the […]
As the Indian general elections approach, the stock market will likely experience heightened volatility. In such times, mechanisms like upper and lower circuits for indices play a crucial role in maintaining market stability. This article explores the concept of upper and lower circuits for indices in India, their impact on trading, and their relevance in […]
The Income Tax Department has issued a stern reminder for taxpayers to link their PAN (Permanent Account Number) with Aadhaar by May 31, 2024, to avoid higher TDS (Tax Deducted at Source) charges. The extension of this deadline is a crucial measure to ensure compliance and avoid financial penalties. If taxpayers fail to link their […]
The launch of Nifty Next 50 derivatives has seen an enthusiastic response from the market. The first monthly expiry, scheduled for May 31, generates significant interest. Open interest is strong, with over 500 members trading and more than ₹1,100 crore turnover within just three weeks of its launch. Strong Trading Volumes and Participation The average […]
The National Stock Exchange (NSE) is set to introduce a significant change in trading for stocks priced below ₹250. Starting June 10, 2024, the tick size for these stocks will be reduced to 1 paisa. This move is expected to notably impact over 1,300 stocks listed on the exchange. What is Tick Size? Tick size […]
