Investments made in FY21 and FY22 have started delivering results in 2023: Ajay Singhania, EPack Durables
EPack Durables reported a net profit of Rs 4.9 crore for the December quarter. The company's turnaround is credited to the investments made in FY21 and FY22. EPack Durables plans to retire long-term debts using IPO proceeds and expects pent-up demand in the upcoming season. MD & CEO Ajay Singhania speaks about the Q3 performance, company's falling debts, IPO proceeds and stock's performance, Key Points
Economic TimesWhy IPL franchises pay big money to Australian players
In the IPL auction earlier this week, for example, Australian fast bowlers Mitchell Starc (Rs 24.75 crores) and Pat Cummins (Rs 20.50 crores) together attracted bids totaling Rs 45.25 crores – nearly half the total budget of a team. Even a relative rookie, Spencer Johnson, received Rs 10 crores. Key Points
Economic TimesRCB bags Alzarri Joseph for record bid of Rs 11 crore in IPL 2024 auction; Woakes to Punjab Kings for Rs 4
The IPL 2024 auction witnessed Royal Challengers Bangalore's record bid for Alzarri Joseph and Punjab Kings acquiring Chris Woakes for Rs 4.2 crore. Woakes, with a base price of Rs 2 crore, fetched attention from Kolkata Knight Riders before landing with PBKS. Joseph's staggering bid of Rs 11 crores by RCB marked a highlight, while Umesh Yadav joined Gujarat Titans for Rs 5.8 crores after a heated bidding contest. Young talents Chetan Sakariya and Shivam Mavi also found teams, while Lockie Ferguson remained unsold in the dynamic auction. Key Points
Economic TimesBajaj Auto posts 5% rise in Q2 revenue at ₹10,777.27 crore
The company's total revenue from operations rose to 107.77 billion rupees ($1.29 billion) for the three months to Sept. 30 from 102.03 billion rupees a year earlier Key Points
mintMasaba Gupta on parents Neena Gupta and Vivian Richards: 'Everyone tells me I became successful because of them'-Entertainment News , Firstpost
She added, 'Someone once apparently told a friend once that, ‘What does she have to do. Her dad left her hundreds of crores’. I said no, there’s no hundreds of crores. They are being built, but I am building that myself.' Key Points
Firstpost
Upcoming IPOs in India 2023
A private limited business must go through the IPO, or initial public offering, process in order to sell its shares to the general public. Through the IPO, the corporations raise money from the general public for debt repayment. Key Points
Times of IndiaDelhi L-G orders probe into 'irregularities' in renovating Kejriwal's home, seeks report in 15 days
Delhi Lieutenant Governor (L-G) Vinai Kumar Saxena directed the Chief Secretary to secure and take all records relating to the matter of alleged irregularites in renovating Chief Minister Arvind Kejriwal's official residence into protective custody. The L-G sought a report into the matter in 15 days. Key Points
India TodayIndia’s gem, jewellery exports decline 23.7pc to Rs 21,501.96 cr in March; marginally up in FY23
The total gem and jewellery exports during 2021-22 stood at Rs 2,93,193.19 crores (USD 39,331.71 million), the Gem and Jewellery Export Promotion Council (GJEPC) said in a statement. Key Points
FinancialexpressTripura government presented ₹27,804 crore with focus on education, infra
Tripura govt presents tax-free budget of Rs. 27,804.67 cr for 2024-25 with deficit of Rs. 410.69 cr, focusing on education, skill development, and infrastructure. | Latest News India Key Points
Hindustan TimesNilkamal recommends 200% dividend, Q4 PAT up 141% YoY
Nilkamal is a small cap consumer discretionary company that recorded a market cap of ₹3,142.39 Cr in Friday's closing session. Key Points
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Coal India reports record high PAT growth of 62% in FY23, Board declares ₹4 per share dividend
The profit after tax (PAT) for Coal India Ltd (CIL) for FY 2022–23 grew dramatically by 62%, from Rs. 17,378 crores in FY22 to Rs. 28,125 Crores. Key Points
mintIGL’s Q4 net profit falls 9%, but revenue shows strong growth of 53%
IGL reported a strong growth of 53% in revenue, with a turnover of ₹4042.33 crore in the quarter, as compared to ₹2638.20 crore in the corresponding period last year. Key Points
mintCentre extends this scheme by another 5 years, 81 crore Indians will benefit
The government will spend a total of ₹ 11.80 lakh crores over next five years, Union minister Anurag Thakur announced. | Latest News India Key Points
Hindustan TimesThis job of getting answers from AI like ChatGPT or Dall-E can pay you more than 2.4 crores
AI-related roles, such as providing precise prompts to generative AI systems, can reportedly offer a salary as high as Rs 2.4 crores. Key Points
India TodayIndiGrid raises Rs 670 crores through institutional placement
The Board of Directors of IndiGrid Investment Managers acting in the capacity of investment manager of IndiGrid, approved the issuance and allotment of 5.27 crore new units through the institutional placement to 11 eligible investors on December 8, 2023. More than 90% of incremental units were issued to insurance companies, mutual funds, pension funds, and domestic institutions. Key Points
Economic Times
GST E-invoicing: A new era of efficiency and accountability in Indian taxation
The e-invoicing system has been mandatory for any businesses that report an annual turnover of over Rs 5 crores with effect from 01.08.2023. Key Points
FinancialexpressHigh promoter holding large cap stock declares 200% dividend, net income surges 34% in Q4: Do you own?
During today's closing session, K.P.R. Mill, a large cap company, had a market cap of ₹20,165.32 Cr. Key Points
mintSalman Khan's stardom powers Kisi Ka Bhai Kisi Ki Jaan to success as the film collects Rs 10.17 crore on day 4-Entertainment News , Firstpost
On Friday, the day of its release, the film had an impressive opening of 15.81 crores, 25.75 crores on Saturday, 26.61 crores on Sunday, and Monday saw the film earn 10.17 crores. Key Points
FirstpostITC board gives in-principle nod for demerger of hotels business
ITC's board has given an in-principle nod for the demerger of its hotels business. ITC currently has over 120 hotels and 11,600 keys across over 70 locations. Under the new scheme, the company would hold a stake of around 40% and the balance will be held by the companys shareholders proportionate to their shareholding in the company Key Points
Economic TimesNifty @ record high: Foreign investors pour in nearly $3 billion on Dalal Street this week
FII strategy is focussed more on country-specific factors rather than sectoral prospects within a country. Thats why they adopted the ‘Sell India, Buy China strategy in Jan and February. During these 2 months, FIIs sold financial services for Rs 15,744 crores. Now, pursuing the ‘Sell China, Buy India strategy, the same FIIs have bought stocks in financial services for Rs 19,229 crores in June alone and this buying trend continues,Vijayakumar said. Key Points
Economic Times
How IIT-B alumni honed the art of giving
Alumni of the Indian Institute of Technology (IIT) - Bombay have donated over ?400 crore ($54 million) to their alma mater. The donations have gone towards construction of new hostels, co-financing the School of Information Technology, establishing India?s first university incubator, and supporting the largest alumni project in the institute?s history, Project Evergreen. The donations have also been used to establish a pro bono activity and a continuing education centre, as well as chair professorships for women faculty. The IIT-Bombay Alumni Association, formed in 2001, has connected around 40,000 former students across India and the world. | Mumbai news Key Points
Hindustan TimesMumbai airport's AIU arrests Nigerian woman with heroin worth ₹2 cr. Details here
Mumbai news: Air Intelligence Unit at Mumbai Airport arrested a Nigerian woman with 350 grams of heroin drugs worth ₹2 crores. The arrested has been sent to 14 days of Judicial Custody. Key Points
mintTalbros Automotive Components secures multi-year orders worth ₹400 crores, including significant EV orders
Talbros Automotive Components has secured multi-year orders worth Rs. 400 crores from local and foreign customers for gaskets, heat shields, forgings, and chassis. Key Points
mintKarnataka Budget 2023: Liquor excise duty hiked by 20%, says Siddaramaiah
Addressing fund allocations for the five poll guarantees of the Congress party, Siddaramaiah said around Rs 52,000 crore will be spent annually. He also said the guarantees are expected to benefit 1.3 crore families. Key Points
Business TodayTamil Nadu budget for FY25: Array of development initiatives proposed
The Tamil Nadu government presented its 2024-25 budget focused on the 7 grand Tamil dream, emphasizing social justice and women's welfare. Finance Minister Thangam Thennarasu announced the Kalaignarin Kanavu Illam housing scheme, aiming to build 8 lakh concrete houses in rural areas by 2030. The budget prioritized goals like social justice, marginalized welfare, and global achievements for Tamil youth, allocating Rs 300 crore for civic amenities. Key Points
Economic TimesRealty firm Aurum Proptech's consolidated revenue rose 49 pc in Oct-Dec quarter
New Delhi [India], January 18 (ANI): Realty firm Aurum Proptech reported a 49 per cent rise in consolidated revenue from operations during the October-December quarter at Rs 57.31 crore. In the same quarter of 2022, the revenue from operations was Rs 38.56 crores. The company’s financial results for the quarter ended December 31, 2023, were […] Key Points
ThePrintCoal India capex rises 7.6% on year so far in FY24
Coal India Ltds capital expenditure rose by 7.6% on year in the eight months of the ongoing financial year to Rs 10,492 Crores. The target of the company for the fiscal is Rs 16,500 crore. Capex on acquisition of land and related rehabilitation followed at Rs 2,486 crore accounting for almost a quarter of the expenditure during the period. Key Points
Economic TimesElderly doc cheated for Rs 2 crores, Pune cops take custody of four suspects from Agra
In 2021, the Cyber crime cell of Pune city police registered a case in which a 60-year-old well known doctor in Pune was cheated for Rs 2.01 crores between 2013 and 2021. Key Points
The Indian ExpressMankind Pharma IPO sails through on Day 3
The IPO was subscribed 2.08 times so far on Day 3, with non-institutional investors (NIIs) and qualified institutional buyers (QIB) doing the heavy lifting. The NII part was subscribed 1.34 times while the QIB category was subscribed 5.68 times. Key Points
Economic TimesIndusInd Bank declares dividend of ₹14, check details here
IndusInd Bank on Monday reported a rise of 49.88 per cent in standalone net profit of ₹2040.51 crore crore for the quarter ended March 31 2023. Key Points
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Ponniyin Selvan 2: Take a look at the blockbuster sequel’s cast and fee charged by the Aishwarya Rai, Vikram & others
The part 1 of Ponniyin Selvan was a massive commercial success and made a global box office collection in the north of Rs 500. It became the second-highest grossing Tamil movie of all time. Key Points
FinancialexpressUP & Kerala have highest out-of-pocket health costs. Inpatient care lion's share of national spend
Out-of-pocket expenditure is key indicator of level of financial protection available towards healthcare payments. National Health Accounts is in its 9th edition. Key Points
ThePrintWill we get the names of electoral bonds donors on March 13?
India News: Find out if we will finally get the names of electoral bonds donors on March 13. Stay updated with the latest news and developments. Key Points
Times Of IndiaED summons NCP leader Rohit Pawar in MSC Bank scam case
The probe is in connection to the Maharashtra State Cooperative (MSC) Bank scam case that relates to the alleged fraudulent disbursal of loans amounting to Rs. 25,000 crores. Key Points
ThePrintBudget 2024: Madam Finance Minister, amplify your investments
When the Finance Minister presents the budget for FY25, one of the key objectives should be to amplify its limited spending budget. This should be done by increasing its role as an investment facilitator rather than direct investment. India has not benefited much from the growing weariness of investing in China and needs to tackle this issue urgently. Key Points
Economic Times
4 IPOs to open for subscription this week. Check key details
As we step into the second week of the new year, four IPOs from January 8-12, 2024 will be available to subscribe. Read to know the key details of IPOs from Jyoti CNC Automation, Australian Premium Solar (India), IBL Finance, and New Swan Multitech. Key Points
India TodayNEDFi declares 8% dividend amounting to Rs 800 lakhs to its shareholders in 2022-23
North Eastern Development Finance Corporation Limited (NEDFi) has declared an 8% dividend of Rs 800 lakh for the financial year 2022-23. NEDFi achieved record-breaking figures in various parameters, including financial assistance and loan portfolio. The net worth of NEDFi crossed Rs 1000 crore, and it facilitated private capital investment of over Rs 20000 crore in the region. Key Points
Economic TimesMCX reports increased market share; total revenue up 8% to 166 crores in Q1 FY23-24
During the quarter that ended June 30, 2023, MCX's total income witnessed a notable rise of 8 per cent, reaching Rs 166 crore as compared to Rs 154 crore in the sequential quarter that ended on March 31, 2023. Moreover, the operating income exhibited a growth of 9 per cent and stood at Rs 146 crore, up from Rs 134 crore in the previous quarter (Q4 FY22-23). Key Points
Business TodayL&T receives orders worth ₹1,000 to ₹2,500 crore for power business
The company won orders worth nearly Rs. 2,30,000 crore during FY23 and has provided an order intake guidance of 10-12% for FY24. L&T is a $23 billion firm that operates in more than 50 countries and is involved in EPC projects, high-tech manufacturing, and services. Key Points
mintDebt free consumer discretionary stock recommends 250% dividend, revenue up 10% in Q4: Do you own?
A large cap consumer discretionary firm, Relaxo Footwears closed today with a market valuation of ₹22,139.35 Cr. Key Points
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How Priyanka Chopra led Citadel becomes 2nd most expensive show of all time with 2500 crores budget
New reports claim that Priyanka Chopra’s new Citadel series could be the 2nd most expensive show after reshoots. It is the most expensive show of all time with 2500 crores budget as the Russo Brothers carried out massive reshoot. Key Points
FirstpostIPL 2023 full schedule: Match dates, venues, timings and double-header details
IPL 2023 is set to begin on Friday, with fans gearing up for some thrilling cricket and epic extravaganza. Defending champions Gujarat Titans will face Chennai Super Kings in the season opener. | Cricket Key Points
Hindustan Times