Hindalco Industries, a flagship company of the Aditya Birla Group, reported a 25% year-on-year increase in its net profit for Q1 FY25, amounting to ₹3,074 crore. This result, announced on August 12, 2024, fell short of market expectations, as a Bloomberg poll had estimated a net profit of ₹3,428 crore for the quarter. The company’s […]
Hindalco Q1 Results: Net Profit Rises 25% to ₹3,074 Crore Read More »
Torrent Pharmaceuticals, a leading player in the generic pharma industry, is reportedly planning to raise up to $3 billion from international lenders to acquire a controlling stake in JB Chemicals & Pharmaceuticals Ltd. This move is part of Torrent’s broader strategy to expand its market presence. According to a report by Bloomberg on August 13,
Torrent Pharma May Raise Up to $3 Billion to Acquire KKR’s Stake in JB Chemicals Read More »
Olectra Greentech’s stock surged by more than 12% on August 13 after the company announced impressive financial results for the first quarter of FY25. The Hyderabad-based electric vehicle (EV) manufacturer reported a 34% year-on-year (YoY) increase in net profit, reaching ₹24 crore. Revenue also saw significant growth, climbing 45% YoY to ₹314 crore for the
Olectra Greentech Stock Soars 12% Following Strong Q1 Earnings Report Read More »
In the latest quarterly reshuffle by MSCI, several notable changes have been made to the MSCI India Index. Seven stocks, including Dixon Technologies, Oil India, and Rail Vikas Nigam Ltd (RVNL), have been added to the index, according to a statement released on August 12. Other firms that have made it to the index include
Noida-based Interarch Building Products Ltd, engaged in turnkey pre-engineered steel construction solutions, said the IPO price band would be ₹850 to ₹900 per share. The IPO will open for subscription on August 19. It also announced that the anchor book opens on August 16 and will close on August 21. The IPO would comprise a
Interarch Building Products Sets IPO Price Band at ₹850-900 per Share Read More »
Amara Raja Energy & Mobility (ARE&M), a subsidiary of the Amara Raja Group, is seeking external funding options, including debt, equity, or a combination of both, to support its ambitious plan of investing ₹9,500 crore in establishing a gigafactory corridor in Telangana. The company is currently funding its initial phase through internal accruals and borrowings
Amara Raja Explores External Funding for EV Battery Business, IPO Possible Read More »
Bharti Global, the international investment arm of Bharti Enterprises, has announced an agreement to acquire a 24.5% stake in BT Group from Altice UK, the largest shareholder of the British telecommunications company. Altice UK is owned by telecom tycoon Patrick Drahi. Bharti Enterprises, one of the world’s biggies in the telecommunications business, plans to initially
Bharti Global to Acquire Altice UK’s 24.5% Stake in BT Group Read More »
On August 10, shares of Shipping Corporation of India jumped more than 10 per cent after the company posted strong first-quarter earnings for FY25. Net profit surged 70 per cent year-on-year to ₹291.5 crore at the state-run enterprise. Further, revenue from operations gained 26 per cent year-on-year to ₹1,514.3 crore. On an operating level, EBITDA
Shipping Corporation Shares Surge 10% on Strong Q1 Earnings; Up 170% Over the Year Read More »
On Monday, August 12, Adani Group stocks, including Adani Enterprises, Adani Ports, and Adani Power, experienced significant declines, with shares falling as much as 5-6% from the previous close. The sharp drop followed the release of a fresh report by US-based short seller Hindenburg Research. The broader NSE Nifty 50 index also faced pressure, dropping
Adani Stocks Drop After Hindenburg Accuses SEBI Chief of Conflict of Interest Read More »
360 ONE Asset Management, a company mentioned in the recent Hindenburg report, has stated that its offshore fund, IPE-Plus Fund 1, never invested in any shares of the Adani Group. The company, which was formerly known as IIFL Wealth Management, made this clarification in a regulatory filing on Sunday. According to 360 ONE, the fund
Offshore Fund Linked to SEBI Chief Clarifies: No Investments in Adani Shares Read More »
