Reliance Industries Ltd has posted a 26.04 per cent rise in net profit at Rs 1,263 crore for the second quarter ended September 30, 2003, compared to Rs 1,002 crore in the same period last fiscal.
Hero Honda Motors, India's largest motorcycle maker, on Tuesday said its net profit grew by 12 per cent to Rs 156.55 crore for the quarter ended September 30, 2003 from Rs 139.84 crore a year earlier.
The company's consolidated revenues surged by 27.01 per cent.
The company had posted a net profit of Rs 138.51 crore (Rs 1.38 billion) in the year-ago period, DLF had said in a statement.
Despite a higher CAD in the first quarter, capital inflows were broadly adequate to finance the current account gap, requiring only a marginal drawdown of foreign exchange reserves.
It said the company had tweaked leave accumulation only up to Q2 (FY21) end, and only as an interim measure.
Tata Consultancy Services, India's largest provider of information technology services, said quarterly profit rose 34 percent, beating analyst estimates, as the industry benefited from a record haul of new contracts.
Tata Consultancy Services scrip ended the day 4.27 per cent higher at Rs 2,214.65 apiece on the BSE.
The Nifty closed at 5,099, up 125 points.
At 12-15 tonnes, the imports in September are estimated to be much lower than in the same month last year.
After posting double-digit growth for the fourth consecutive quarter, chief executive officer and managing director Salil Parekh tells Yuvraj Malik and Debasis Mohapatra that the firm is not facing any delay in ramping up of large deals.
Global gold demand has seen a year-on-year decline of 8 per cent during the April-June period to 948.4 tonnes and going ahead further monetary tightening and continued dollar strength may pose headwinds, says a report. According to the WGC Gold Demand Trends Q2 2022 report, the total gold demand during the second quarter of 2021 stood at 1,031.8 tonnes. The year-on-year demand was affected by increase in gold electronic traded funds (ETFs) outflow, decline in Central banks buying and lower demand from the technology segment, the report said.
IDBI Bank had to sell its MF arm after being acquired by state-owned insurance behemoth Life Insurance Corporation since LIC already had an AMC.
A meeting of the board of directors of Ballarpur Industries Ltd will be held on January 29 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.\n\n\n\n
JP Morgan has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over. Rising margin headwinds in the near-term and the revenue headwinds in the medium-term from a potential macro slowdown, Ankur Rudra and Bhavik Mehta of JP Morgan said in the report, will mean that the sector's earnings upgrade cycle is behind. "We see peak revenue growth behind us and earnings before interest and taxes (EBIT) margins trending down from inflation, mean revision.
The finance ministry will kick-start the exercise to prepare the Union Budget for financial year 2022-23 (FY23) from October 12, according to an official notification released on Monday. "The pre-Budget meetings as well as the meetings to discuss the revised estimates will start from October 12 and will continue till the second week of November," according to the Budget circular of the Department of Economic Affairs' Budget Division. The Union Budget is expected to be announced on February 1, as has been the practice of the past few years.
'Investors should continue to invest because you are looking at the long-term; in the next four to five years, we are bound to outperform (the rest of the world equity markets).'
German luxury carmaker Mercedes-Benz India on Thursday said it will hike prices of select models by up to two per cent from January 1, 2022, to offset feature enhancement and rising input costs. At the same time, Audi announced a price increase of up to 3 per cent across its entire model range, effective from January 1 next year. Mercedes, however, said it is committed to price protection to customers who have booked their cars and are waiting for more than four months for select models.
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