Indian Market - Lakshmishree News

Sonata Software Rises 5% After Securing Multi-Year AI Deal with Fortune 500 Firm

Sonata Software’s stock climbed 5% to Rs 613 on October 23 after the company announced a significant multi-year managed services contract with a Fortune 500 manufacturing giant. The deal focuses on leveraging AI-driven solutions to modernize the client’s global operations and support its digital transformation initiatives. Sonata will implement a scalable operational framework that combines […]

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KPIT Board Approves Rs 2,880 Crore QIP; Reports 8% Sequential Revenue Growth

Lisl News Desk / Indian Market

KPIT Technologies’ board approved a Rs 2,880 crore fundraising through a qualified institutions placement (QIP) on October 23, a strategic move to support future growth initiatives. Alongside the fundraising decision, KPIT reported its financial results for the quarter ended September 2024, with revenue rising 8% sequentially to Rs 1,471 crore, up from Rs 1,364 crore

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Amber Enterprises Shares Surge as India Set to Buy 1.30 Crore ACs This Year

Lisl News Desk / Indian Market

Amber Enterprises’ shares soared 14% on October 23, driven by strong Q2 results and optimistic projections for India’s air conditioning market. The prolonged summer in 2024 has significantly boosted demand, resulting in a consolidated revenue growth of 82% year-on-year to Rs 1,684.70 crore and a net profit of Rs 20.96 crore. The company’s performance was

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Firstsource Solutions Rises 10% After Announcing Plan to Develop U.S. Mortgage Language Model

Lisl News Desk / Indian Market

Shares of Firstsource Solutions surged 10% to Rs 344 on October 23 following the company’s announcement to develop a domain-specific large language model (LLM) tailored for the U.S. mortgage sector. The LLM will be part of its Firstsource relAI suite, designed to enhance the company’s mortgage services with AI-driven capabilities. By implementing advanced AI features

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RITES Shares Rise on Securing Rs 454-Crore Turnkey Contract in Karnataka

Lisl News Desk / Indian Market

Shares of engineering firm RITES gained on October 23 following the announcement that its project management consultancy (PMC) contract with Karnataka Mining Environment Restoration Corporation (KMERC) has been converted into a turnkey contract. The Rs 453.99 crore contract (excluding GST) involves the construction of two railway private freight terminals (PFTs) at Dharmapura and Susheel Nagar

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Paytm Gets NPCI Nod to Onboard New UPI Users After RBI Curbs Lifted

Lisl News Desk / Indian Market

Paytm’s parent company, One97 Communications Ltd, announced on October 22 that the National Payments Corporation of India (NPCI) has approved its request to onboard new UPI users. The approval comes with the condition that Paytm complies with NPCI’s risk management guidelines, app branding norms, multi-bank requirements, and data privacy policies. That was after Paytm faced

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Gujarat Fluorochemicals’ EV Subsidiary Raises Rs 1,000 Crore for Expansion

Lisl News Desk / Indian Market

GFCL EV, a subsidiary of Gujarat Fluorochemicals (GFL), secured Rs 1,000 crore in funding at an equity valuation of around Rs 25,000 crore, the company announced on October 23. The funding was led by promoters INOXGFL Group, along with notable investors, including family offices from major business groups. The raised capital will support capacity expansion

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Mazagon Dock Approves 1:2 Stock Split and Announces Rs 23.19 Interim Dividend

Lisl News Desk / Indian Market

Mazagon Dock Shipbuilders’ board has approved a stock split in the ratio of 1:2, meaning each existing share will be split into two, effectively doubling the total number of shares. Along with this, the company declared an interim dividend of Rs 23.19 per equity share of Rs 10 each, fully paid-up, for the financial year

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Tata Motors Bags Order for 1,000 Diesel Bus Chassis from UPSRTC

Lisl News Desk / Indian Market

Tata Motors has secured an order to supply 1,000 Tata LPO 1618 diesel bus chassis to the Uttar Pradesh State Road Transport Corporation (UPSRTC), following a competitive e-bidding process. The delivery will occur in phases as per a mutually agreed schedule. This order follows an earlier contract to supply 1,350 chassis, which are currently operational

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Varun Beverages Q3 Net Profit Surges 22% to Rs 629 Crore; Revenue Grows 25%

Lisl News Desk / Indian Market

Varun Beverages reported a 22.4% increase in consolidated net profit for the September 2024 quarter, reaching Rs 628.82 crore, compared to Rs 514.06 crore in the same period last year. This marks the company’s third-quarter results for the 2024 calendar year. Operational revenues grew 25.2% at Rs 4,932.1 crore from Rs 3,937.8 crore in the

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