Since its results for the first quarter of the 2023-24 financial year (Q1FY24) earlier this month, the stock of auto component major Bharat Forge is up nearly 15 per cent and hit its all-time high in the process. The recent gains have extended the returns over the last three months to over 34 per cent. After a strong Q1 performance which beat expectations, brokerages had revised their earnings estimates upwards to factor in the improved outlook.
Posts tagged Rediff
Defence business to drive growth for Bharat Forge (31-08-2023)
Since its results for the first quarter of the 2023-24 financial year (Q1FY24) earlier this month, the stock of auto component major Bharat Forge is up nearly 15 per cent and hit its all-time high in the process. The recent gains have extended the returns over the last three months to over 34 per cent. After a strong Q1 performance which beat expectations, brokerages had revised their earnings estimates upwards to factor in the improved outlook.
Companies face action for lapses in listing regulation (31-08-2023)
Nearly two dozen companies have faced regulatory action recently for violation of listing regulations. While the quantum of penalties has been minuscule vis-à-vis the size of these companies, the development has put the spotlight on important issues such as appointing women directors and having a proper board composition. The stock exchanges, which also act as first-level regulators, have slapped penalties on companies such as ACC, Rail Vikas Nigam, Indian Oil Corporation, Adani Enterprises, and GAIL (India) for violations of listing regulations, mainly around the appointment of women and independent directors, as disclosed by individual companies.
NBFCs, IT sector biggest draw for equity MFs in July (31-08-2023)
The information and technology (IT) sector, which has been going through a rough patch lately, was among the top draws for equity mutual funds (MFs) in July. MF schemes together invested a net of Rs 1,800 crores in IT stocks last month after pulling out around Rs 700 crore from the sector in June, according to a report by ICICI Securities.
NBFCs, IT sector biggest draw for equity MFs in July (31-08-2023)
The information and technology (IT) sector, which has been going through a rough patch lately, was among the top draws for equity mutual funds (MFs) in July. MF schemes together invested a net of Rs 1,800 crores in IT stocks last month after pulling out around Rs 700 crore from the sector in June, according to a report by ICICI Securities.
Why India Has Shortage Of Skilled Workers (31-08-2023)
‘The second generation of migrant labourers is not enthusiastic about continuing in this field.’ ‘The parents of the next generation do not wish their children to be part of this trade.’
Why India Has Shortage Of Skilled Workers (31-08-2023)
‘The second generation of migrant labourers is not enthusiastic about continuing in this field.’ ‘The parents of the next generation do not wish their children to be part of this trade.’
Opaque funds invested millions in Adani stocks: OCCRP (31-08-2023)
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based ‘opaque’ investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the “mysterious” investors bought and sold Adani stock through such offshore structures.
HP, Dell, Lenovo have applied under PIL scheme (30-08-2023)
As many as 32 companies, including global biggies like HP, Dell and Lenovo, have applied under the Production Linked Incentive scheme for IT hardware, Union Minister Ashwini Vaishnaw said on Wednesday. The expected incremental production under the scheme is pegged at Rs 3.35 lakh crore, said Vaishnaw, Minister for Electronics and IT.
BNP Paribas looks to sell retail broking arm Sharekhan (30-08-2023)
French banking major BNP Paribas is planning to sell its domestic retail broking unit, Sharekhan, according to news reports on Tuesday. The reports even named leading financial institutions as possible suitors. “We would not be able to comment on the mentioned queries at this time,” said a company spokesperson in response to a query from Business Standard seeking clarification on the news item.