IREDA shares surged by more than 11% following the company’s announcement of its highest-ever net profit in FY24. In its FY24 financial results released after-market hours on Friday, IREDA reported a record annual profit after tax (PAT) of ₹1252.23 crore, marking a remarkable growth of 44.83% over the previous fiscal year 2022–23. Additionally, the company…
Live Updates on Reliance’s Q4 Results: Reliance Industries Ltd (RIL), led by billionaire Mukesh Ambani, is set to unveil its Q4 results today. The company’s board will also discuss and approve a dividend for FY24. Reliance Industries is expected to post robust revenues and operational performance for the quarter ending March 2024, driven by its…
Today’s Asian stock market saw a rise in response to shifting focus from Middle East tensions to company earnings and economic data, offering insights into central bank policy directions. Hong Kong’s benchmark surged over 2%, leading the region’s recovery from last week’s downturn amid relief over no further escalation between Iran and Israel. Mainland Chinese…
According to a report from analysts at brokerage firm Nomura, Ambuja Cements’ recent entry into the high-priced markets of Kerala and Tamil Nadu is not anticipated to cause disruption just yet. The report highlights that existing players, such as Ramco Cements, are in a strong position, and no immediate pricing pressures are expected. Nomura issued…
Passive funds Passive funds continued to see growth in assets; the segment continued to benefit from institutional investment flows into exchange traded funds (ETFs) from investors such as provident funds. ETFs as a category have assets of Rs 6.64 lakh crore as of March 2024. The category also saw inflows of Rs 42,000 crore in…
On April 15, Reliance Industries’ Jio Financial Services revealed its partnership with US-based BlackRock to expand wealth management and broking services in India. “At 6:35 p.m., the Company, BlackRock, Inc., and BlackRock Advisors Singapore Pte. Ltd. signed an agreement to establish a 50:50 joint venture for wealth business, including the formation of a wealth management…
Stock Market Downturn as Sensex Falls: Asia’s Shares Hit Six-Week Low Amidst Middle East Tensions and Disappointing Bank Earnings Equity markets across Asia, including benchmarks in Japan, South Korea, and Australia, experienced declines today, following Friday’s downturn in US equities. The drop comes amidst ongoing tensions in the Middle East, lackluster bank earnings, and speculation…
LIC’s stake in Adani Green Energy Ltd experienced a significant surge, more than doubling to ₹3,937.62 crore within a year. In the fiscal year 2023-24, LIC, the state-owned insurance giant, witnessed a remarkable 59% increase in the value of its investments in Adani group entities. This surge comes on the heels of a smart recovery…
On April 10, the Ministry issued a directive to online platforms, stating that the designation of ‘health drink’ lacks definition within the nation’s food and safety standards laws. The Ministry’s advisory to all e-commerce companies cited the findings of the National Commission for Protection of Child Rights (NCPCR), established under the Commission of Protection of…
Perfection Engineering: Pioneering Industrial Conveyor Solutions In the realm of industrial operations, efficiency is paramount. Whether it’s streamlining production processes or optimizing material handling, the role of conveyor systems cannot be overstated. Among the array of conveyor manufacturers, one name shines brightly: Perfection Engineering. Renowned for its innovative solutions and commitment to excellence, Perfection Engineering…