Shoppers Stop reported a consolidated net loss of Rs 20.59 crore for the second quarter ending September 30, 2024, due to muted demand. The company’s total income rose 7.13% to Rs 1,124.62 crore, while total expenses hit Rs 1,151.31 crore. New store additions totaled 25 last quarter.
Posts in category Economic Times
Sebi bans Onelife Capital Advisors, promoters from securities markets for alleged fund diversion (22-10-2024)
Sebi has restricted Onelife Capital Advisors and its promoters, Pandoo and Prabhakara Naig, from securities markets for alleged fund diversion and misrepresentation of financials. They are prohibited from acting as directors in any listed company. The investigation covers April 2018 to March 2023.
Mahindra Finance Q2 Results: Net profit soars 36% to Rs 390 crore, NII rises 19% (22-10-2024)
Mahindra Finance reported a 36% rise in consolidated net profit for the September quarter, achieving Rs 390 crore. Standalone net profit grew by 57%, totaling Rs 369 crore. Although vehicle finance slowed, the gross loan book grew by 20%. Stage-3 assets improved to 3.8% from 4.3% year-on-year.
Godavari Biorefineries collects Rs 166 crore from anchor investors ahead of IPO (22-10-2024)
Godavari Biorefineries Ltd raised over Rs 166 crore from anchor investors including HDFC Mutual Fund and Goldman Sachs prior to its IPO. The IPO, including a fresh issue of Rs 325 crore and an Offer-for-Sale of 65.27 lakh shares, is expected to total Rs 555 crore.
Adani Energy gets Sebi notice over alleged wrongful categorisation of shareholders (22-10-2024)
Adani Energy Solutions (AESL) received a notice from Sebi alleging wrongful categorization of certain investors as public shareholders. AESL said it will respond to regulatory and statutory authorities by providing relevant information/clarifications.
Silver prices exceed Rs 1 lakh mark again, impact on Dhanteras demand (22-10-2024)
For the second day in a row silver crossed the Rs 1 lakh mark and was trading at Rs 1,01,323 per kg on Tuesday in the physical market. Prices went up by another Rs 1,241 per kg on Tuesday compared to Monday.
Indus Towers Q2 Results: Net profit jumps 72% to Rs 2,224 crore on strong tower additions (22-10-2024)
Indus Towers reported a 71.7% on-year jump in net profit to Rs 2,224 crore in its fiscal second quarter, on the back of strong tower additions and steady collection of past overdues from Vodafone Idea (Vi). Quarterly revenue grew 4.7% on year to Rs 7,465 crore in the July-September quarter.
Use of cash still dominant, but digital modes are catching up quite fast (22-10-2024)
As of March 2024, cash still accounts for 60 percent of consumer expenditure but is rapidly declining post-COVID. Digital payments, particularly UPI, have surged, with their share in total transactions doubling and cash usage reducing significantly, indicating a shift towards digital modes.
Silver hits Rs 1,00,000 mark in Delhi-NCR’s bullion market. 10% uptick seen by Diwali (22-10-2024)
Silver prices have touched the Rs 1 lakh per kg mark in Delhi-NCR’s bullion markets, rising by over 3% or by Rs 8,200 in just three weeks. Commodity experts expect a 3-5% increase in prices in the run-up to Dhanteras. Meanwhile, on the MCX, the December Silver contracts hit a new lifetime high of Rs 99,475, gaining by Rs 2019 or over 2%.
Ahead of Market: 10 things that will decide stock action on Wednesday (22-10-2024)
Indian benchmark equity indices, Sensex and Nifty50, recorded their biggest single-day decline in nearly three weeks, dragged down by slowing corporate earnings and ongoing foreign selling.