News Archives - Page 9 of 14 -

31 Jul

Adani Energy increase $1 billion through QIP issue

Priyanka Roy0 CommentsBusiness, News

The company had fixed the floor price of Rs 1,027 per share, which could allow a maximum discount of 5 per cent on the floor price.Adani Energy Solutions, the power transmission arm of Adani Group, has increased $1 billion (over Rs 8,300 crore) through a Qualified Institutional Placement issue.The issue was oversubscribed 3 times with a demand of about Rs 26,000 crore, the largest transaction in India's energy sector. The QIP issue price closed at Rs 1135 per share as against Rs 976 per share. Global investors including GQG, QIP, ADIA and some new US names participated in the issue.…

30 Jul

HDFC Bank shares down 11% from one-year high; Should you enter?

Priyanka Roy0 CommentsBusiness, News

HDFC Bank share price: The country's largest private lender reported profit of Rs 16,174.75 crore in Q1 FY25, compared to Rs 11,951.77 crore in the year-ago period. However, net profit for the quarter end June 30 this year was lapse 2.04 percent sequentially from Rs 16,511.85 crore in the prior quarter (Q4 FY24).Shares of HDFC Bank Ltd slipped 1.21 percent to a low of Rs 1,598.20 in Monday's trade from its previous close of Rs 1,617.80. Considering today's low, it has fallen 10.81 percent from its 52-week high of Rs 1,791.90, a level seen earlier this month on July 3.The…

29 Jul

Shares of UltraTech Cement increase due to acquisition of India Cements; Check out the deal outline, industry impact, stock price outlook

Priyanka Roy0 CommentsBusiness, News

Share price of UltraTech Cement rose by over one per cent in early trade on Monday after the company announced the acquisition of 32.72% stake in India Cements. Meanwhile, share price of India Cements also rose by about 3% on BSE.Aditya Birla Group-owned UltraTech Cement said its board of directors has approved the acquisition of 32.72% equity stake of promoters and their associates in India Cements at ₹390 per share for ₹3,954 crore. This price is 4.1% higher than the closing price of India Cements shares of ₹374.60 last Friday.In June 2024, UltraTech had made a financial investment in South…

27 Jul

DLF Q1 results: Net profit increase 23% to Rs 646 crore

Priyanka Roy0 CommentsBusiness, News

India's largest realty firm DLF Ltd on July 25 reported a 23 percent year-on-year rise in its net profit to Rs 646 crore for the quarter ending June 30, 2024. The company had earned a net profit of Rs 526.11 crore in the same period a year ago.The company received new sales bookings worth Rs 6,404 crore, a growth of 214 percent year-on-year and healthy operating cash flow of Rs 1,849 crore, up 133 percent year-on-year, a regulatory filing said.DLF's consolidated revenue also rose by nearly 14 percent to Rs 1,729.82 crore in the April-June 2024 quarter, compared to Rs…

26 Jul

Promoters, PEs to pay retro tax on OFS inflation

Priyanka Roy0 CommentsBusiness, News

Promoters and private equity (PE) investors who failed to pay capital gains tax on selling their shares through offer for sale (OFS) in initial public offerings (IPOs) will have to deposit the amount following amendments in tax laws.Taxpayers, in some cases, were not paying capital gains tax citing the absence of an express provision to determine the fair market value (FMV) of the equity shares as these were originally unlisted, although the securities on them were Transaction Tax (STT) was paid. , The new rules will be applicable retrospectively from February 18, 2018. Thus, all sales after this date will…

25 Jul

Canara Bank Q1 results: Net profit rises 10.5% to ₹3,905 crore; NII increased by 6%

Priyanka Roy0 CommentsBusiness, News

Canara Bank Q1 results: The lender's standalone net profit rose 10.5 percent year-on-year (YoY) to ₹3,905 crore in the quarter ended June 2024 (Q1FY25), in line with analysts' expectations. This compares with a net profit of ₹3,535 crore in the same period last year. Additionally, net interest income (NII) grew 6 percent year-on-year to ₹9,166 crore in the quarter under review from ₹8,666 crore in the previous year.However, the bank saw a decline in its net interest margin, falling to 2.9 percent in the June 2024 quarter from 3.05 percent in both the same period last year and the previous…

24 Jul

Gold prices drop by 5 percent after duty cut

Priyanka Roy0 CommentsBusiness, News

Gold prices fell by more than five percent after Finance Minister Nirmala Sitharaman announced a steep cut in import duty on gold and silver.At 5 pm, gold prices on the MCX platform were down 5.03 percent or Rs 3,657 at Rs 69,061 per 10 grams amid speculations of increase in gold imports following the duty revision. After the duty cut, silver prices fell by 4.38 percent to Rs 85,299 per kg.The FM announced reduction in customs duty on gold and silver to 6 percent from the existing 15 percent and on platinum to 6.4 percent from 15.4 percent. There is…

23 Jul

Economy survey shows bank credit growth to agriculture, industries, housing to bounce back in FY2024

Priyanka Roy0 CommentsBusiness, News

The economy survey on July 22 showed that bank credit to sectors like industry agriculture, and housing saw a increase in fiscal year 2024.Agricultural credit improveed almost 1.5 times to Rs 20.7 lakh crore in FY2014 from Rs 13.3 lakh crore in FY2011. “The Kisan Credit Card scheme has played a considerable role in providing timely and hassle-free credit to farmers with over 7.4 crore active KCC (Kisan Credit Card) accounts at the end of 2023,” the survey revealed.Credit to industries flourish by 8.5 percent in March 2024 compared to 5.2 percent a year ago, driven by an extend in…

22 Jul

The Economic Survey estimates real GDP upsurge of 6.5-7% for FY2023-24

Priyanka Roy0 CommentsBusiness, News

The Economic Survey 2023-24, presented in Parliament by Union Finance Minister Nirmala Sitharaman on Monday, said the Indian economy is in a strong and stable position, demonstrating resilience in the face of geopolitical challenges."The higher economic increment in FY20 follows profit rates of 9.7% and 7% in the previous 2 fiscal years."The survey said that the core inflation rate is largely under control, although the inflation rate of some specific food items has increased. The trade deficit was lower in FY24 compared to FY23, and the current account deficit for the year is about 0.7% of GDP.However, it said the…

22 Jul

Naorem Ibomcha Meitei appeals for justice after tragic demolition of family property

Sonakshi Sarkar0 CommentsNews

Naorem Ibomcha Meitei, the owner of a house demolished with explosives in Churachandpur, has expressed deep sorrow and frustration over the incident, which was widely circulated on social media. In a heartfelt statement, the 43-year-old described the devastation of seeing his home, a place filled with childhood memories and ancestral heritage, destroyed. "It breaks my heart to see my home blown to pieces. This is not just my home but a memory of my childhood and our forefathers," Meitei lamented. He compared the destruction to ethnic cleansing, something he never imagined would happen to him and fellow Meiteis in Churachandpur.…