Bharat Heavy Electricals Ltd (BHEL) is India's largest engineering and manufacturing enterprise, operating across energy, industry, and infrastructure sectors. The investment path for the stock is based on a large order backlog, continued strong order inflows, and rising power demand, which should push demand for BHEL's equipment and services. BHEL has historically held over 70 per cent market share in power projects.
Avenue Supermarts, the operator of DMart retail chain, reported good results for the July-September quarter (Q2FY24) with strong earnings before interest before interest, taxes and depreciation (Ebitda) and profit before tax (PBT) growth, but lower PAT due to higher tax incidence. The operating margin improved, and like-to-like store sales growth was strong. Average bill value also increased though this may be a seasonal effect to some extent. Analysts are assuming this means the slowdown in retail may have bottomed out.
Inflows into gold exchange-traded funds (ETFs), which manage a total of Rs 37,390 crore, have surged sharply in recent months. This trend is likely to continue, especially after the reintroduction of long-term capital gains tax (LTCG), which is likely to attract smart money into mutual fund offerings amid a robust outlook for the yellow metal. Smart money, also known as opportunistic flows, refers to strategic investments that are generally of a short-term horizon.
The net inflow in equity mutual funds plunged 76 per cent to Rs 2,258 crore in November over the preceding month amid a sharp up move in the stock market that made investors wary of higher valuation. This also marks the 21st straight month of inflows into equity schemes. Overall, the mutual fund industry registered net inflows of Rs 13,263 crore in November, slightly lower from Rs 14,045 crore seen in the previous month, data released by the Association of Mutual Funds in India (Amfi) showed on Friday.
The Indian Premier League's media rights for the next five years have been sold for a whopping Rs. 48,930 crore, said BCCI secretary Jay Shah on Tuesday.
'Airlines are aware that during peak times like Diwali, demand will be high, so prices remain steep even for tickets purchased 90 days ahead.'
To turnaround, the airline bets on heavily-discounted tickets and new overseas routes.
Bajaj Finserv, Infosys, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India and HCL Technologies were the biggest gainers. On the contrary, Asian Paints, JSW Steel, NTPC and Adani Ports were among the laggards.
While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024.
It's less than the budgeted target of 15 per cent.
A home in Mumbai or Delhi or one in New York? Or perhaps one in London or Dubai? Take your pick because they all now cost nearly the same.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
Public sector banks' cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the Public Sector Banks (PSBs) have come a long way as their profit touched Rs 1,04,649 crore in 2022-23, according to an analysis of their financial results. These 12 PSBs witnessed 57 per cent increase in total profit compared to Rs 66,539.98 crore earned in 2021-22.
While it took UPI three years to reach a billion transactions in a month, the next billion came in just a year. Digital payments, especially UPI, saw increased adoption in 2020 due to the Covid-19 pandemic.
Indiagames is a leading developer and publisher of mobile and online games.
Benchmark equity indices Sensex and Nifty rebounded on Wednesday, propelled by bargain hunting in index majors Reliance Industries, ITC and SBI amid a largely firm trend in global equities. In a highly volatile trade, the 30-share BSE Sensex rebounded 89.64 points or 0.12 per cent to settle at 72,101.69. During the day, it jumped 390.62 points or 0.54 per cent to 72,402.67.
Continuing with the growth trajectory, Indian Railways have registered an increase of about nine per cent in its revenue earnings. The Railways have earned Rs 62,975.58 crore (Rs 629.75 billion) during April to December 2009 compared to Rs 57,901.88 crore (Rs 579.01 billion) for the same period last year, registering an increase of 8.76 per cent.
Following the exit poll prediction of a resounding BJP victory, BSE benchmark Sensex shot up on Monday by 2,507 points or 3.4 percent to settle at a new closing peak of 76,469. However, a day later on Tuesday, the equity markets witnessed a bloodbath, with the Sensex tanking 4,390 points or 6 percent to settle at 72,079. This was the worst single-day fall in four years.
Maruti's small car Celerio was the biggest attraction followed by Mahindra's electric sports vehicle Halo.
Last month, Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum were losing Rs 390 crore (Rs 3.9 billion) per day on sale of petrol, diesel, kerosene and domestic LPG. This month, losses have come down to Rs 352 crore (Rs 3.52 billion) per day, an industry official said.
Mumbai-based Temptation Foods has acquired the marine foods business of FMCG major Hindustan Unilever for an undisclosed sum.
The public offer of eight crore shares by Punjab National Bank, which closed on Friday, has attracted bids for 104.37 crore shares - a subscription of 13 times.
Six states and UTs -- Maharashtra, Manipur, Meghalaya, Sikkim, Tripura and Daman & Diu -- have not spent a single rupee from the fund allocated by the Centre, according to data shared by the minister in Parliament in response to a question.
The total provisioning for non-performing assets rose to Rs 3,428.59 crore (Rs 34.28 billion) during the December quarter, up from Rs 2,766.18 crore (Rs 27.66 billion) in the corresponding period last fiscal, SBI said in a filing on the BSE.
Hindustan Unilever (HUL) hiked prices across its portfolio of products by 3-13 per cent in multiple tranches in February, with the sharpest increase of 13 per cent seen in the 100 gm Lux soap pack, the price of which increased to Rs 35 from Rs 31 earlier. The price of the 125 gms soap pack of Lifebuoy was hiked from Rs 31 to Rs 33, a rise of 6.5 per cent. In January, the company had hiked the price of the same stock-keeping unit from Rs 29 to Rs 31.
PNB Housing Finance on Wednesday said it will disclose the outcome of shareholders' meeting held a day earlier -- on Rs 4,000 crore capital infusion led by Carlyle Group -- in accordance with the order of the Securities Appellate Tribunal next month. The company moved the tribunal on Monday after the capital markets regulator asked it on June 18 not to go ahead with the proposed capital raise plan by allotting preference shares to the investors until it carried out a valuation of shares from an independent registered valuer. The SAT in an order dated June 21 allowed the company to go ahead with the EGM, but restricted it not to announce the voting results by the shareholders, as the matter is pending before the court.
Orissa could be on the cusp of a new era of industrialisation with the state government considering proposals for Rs 122,000 crore (Rs 1,220 billion) in investments, mainly in steel, alumina and power sectors, official sources said.
The Aditya Birla group is close to buying the Reddy family's 66.32 per cent stake in Apollo Sindhoori Capital Investments (ASCIL), marking a re-entry of the group into the broking business.
India's housing shortage is fuelled by the immigration of millions of villagers to the cities.
The apex court had also asked Sahara Group to provide it within two weeks the list of "unencumbered properties" which can be put for public auction to realise the remaining over Rs 14,000 crore
From the Sensex firms, Wipro, NTPC, Sun Pharma, Mahindra & Mahindra, ITC and Reliance Industries were among the biggest laggards. IndusInd Bank, Axis Bank, Bajaj Finance, HDFC Bank, Larsen & Toubro and State Bank of India were among the major gainers.
India's tennis sensation and Hyundai Getz brand ambassador Sania Mirza poses for a picture at the launch of the new car Hyundai Getz Prime in New Delhi on Monday.
Godrej Consumer Products (GCPL) reported 6 per cent year-on-year (Y-o-Y) consolidated net revenue growth in Q4FY24 to Rs 3,385 crore and this was impacted adversely by currency movement. The constant currency (CC) growth would have been 30 per cent Y-o-Y in Q4FY24. India business clocked 12 per cent Y-o-Y revenue growth (5 per cent of it organic) with volume growth of 15 per cent Y-o-Y (7 per cent organic).
The Centre has completed asset monetisation worth Rs 96,000 crore during FY22, surpassing the target of Rs 88,000 crore. For FY23, it has set itself a goal of Rs 1.62 trillion, and already has a pipeline of assets worth Rs 1.6 trillion under advanced stages of implementation, an official said. Union Finance Minister Nirmala Sitharaman on Tuesday reviewed the progress made by several ministries and nudged departments to achieve the targets set for them, the official added.
Tata Motors has hiked the price of its premium small car 'Indica' by an average of 1.9 per cent with immediate effect.
A hi-tech city worth Rs 390 crore (Rs 3.9 billion) would be built in Bangalore for information technology and biotechnology companies by the Bangalore Development Authority, chief minister N Dharam Singh said on Monday.
Maruti Udyog Ltd, India's largest carmaker, unveiled on Thursday a new-look Zen, without tinkering with the price, to take on competition posed by Hyundai's Santro and Tata Motors' Indica.
Impacted by price pressure and other factors, the country's largest biotech firm, Biocon, on Wednesday reported that its net profit had plummeted 20 per cent to Rs 39 crore
The Sensex opened with a positive gap of 22 points at 5,913.
The Sensex opened a tad higher at 5,761. Fresh buying in blue chips stocks saw the index rally to a high of 5,773. The index is now up 13 points at 5,772.
