Sales rise 20.79% to Rs 4698.03 crore
Posts in category Business Standard
Polycab slides as Q1 PAT drops marginally to Rs 402 cr in FY25 (18-07-2024)
Polycab India declined 1.13% to Rs 6,550.25 after the company’s consolidated net profit fell marginally to Rs 401.61 crore in Q1 FY25 as against with Rs 403.16 crore posted in Q1 FY24.
Tata Comm Q1 PAT slides 13% YoY to Rs 333 crore (18-07-2024)
Tata Communications’ consolidated net profit fell 12.79% to Rs 332.84 crore in Q1 FY25 as compared with Rs 381.69 crore in Q1 FY24.
Infosys Q1 PAT drops 20% QoQ to Rs 6,374 cr; revises FY25 revenue guidance to 3%-4% (18-07-2024)
Infosys’s consolidated net profit declined 20.08% to Rs 6,374 crore in Q1 FY25 as compared with Rs 7,975 crore in Q4 FY24.
Sensex, Nifty end at record closing highs; IT shares rally (18-07-2024)
As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 626.91 points or 0.78% to 81,343.46. The Nifty 50 index added 187.85 points or 0.76% to 24,800.85.
Vedanta’s QIP receives bids for Rs 23,000 cr against offer of Rs 8,000 cr (18-07-2024)
Mining conglomerate Vedanta Ltd’s (Vedanta) qualified institutions placement (QIP) of Rs 8,000 crore got around three times subscription around Rs 23,000 crore, institutional brokers said.
The QIP witnessed significant interest from Foreign Institutional Investors (FIIs), mutual funds, insurance companies and other investors. Prominent mutual funds like Nippon, ICICI Prudential, SBI, Mirae, and White Oak have put in bids in the offer, an institutional broker said.
Apart from MFs, other investors include foreign portfolio investors and UHNIs from India.
The QIP, which is likely to close on Friday, will enable the company to deleverage its balance sheet and fund growth projects.
Vedanta’s Committee of Directors authorised the opening date of QIP on July 15 with a floor price of Rs 461.26 per share for this issue.
The company had in its May 15 stock exchange disclosure said the proceeds may be used for prepayment of the borrowings as well as funding growth opportunities.
The mining
Australian Markets End Lower From All Time High (18-07-2024)
The benchmark S&P/ASX 200 dropped 0.27 percent to 8,036.50, with banks and tech stocks pacing the declines. The broader All Ordinaries index settled 0.37 percent lower at 8,272.70.
Japanese Markets Tumble, Nikkei Down 2.36% (18-07-2024)
Japanese markets tumbled amid a sell-off in the tech sector. Also, the yen’s strengthening against the dollar dragged export-oriented issues.
Board of Premier Explosives approves appointment of directors (18-07-2024)
At meeting held on 18 July 2024
Swaraj Engines hits record high after Q1 PAT jumps 5% YoY to Rs 43 cr (18-07-2024)
Swaraj Engines rallied 5.59% to Rs 1,686 after the company’s standalone net profit increased 5.54% to Rs 43.19 crore in Q1 FY25 as against with Rs 40.92 crore posted in Q1 FY24.