SUNAINA

Aurobindo Pharma reported a 61% rise in consolidated net profit to Rs 919 crore for Q1 ended June 2024, up from Rs 571 crore last year. Revenue increased to Rs 7,567 crore from Rs 6,851 crore. The growth was driven by strong sales and improved operational efficiencies.

Cooperation Minister Amit Shah urged sugar mills to explore alternatives to sugarcane for ethanol production, aiming for a 20% ethanol blending target by 2025-26. Speaking at an NFCSF event, Shah highlighted that the government’s ethanol program reduces crude oil imports and addresses environmental issues. He stressed the need for innovation in biofuel production. Investors should … Read more

India’s food market is set to grow by over 47% to USD 1,274 billion by 2027, as per a report by CII and Danfoss India. Southern states, particularly Tamil Nadu, lead in food processing exports. Innovative startups are driving growth with new technologies. The Danfoss Optyma Pack Condensing Unit aims to enhance dairy processing efficiency. … Read more

Infinix India CEO Anish Kapoor reports that smartphones priced between Rs 10,000 and Rs 20,000 now make up over 40% of the Indian market. This shift reflects a growing demand for 5G devices, with these phones seeing increased popularity compared to cheaper models. The market, which had stagnated, is now recovering and growing.

NCLT’s Bengaluru bench admitted an insolvency plea against Coffee Day Enterprises Ltd (CDEL), the parent company of Cafe Coffee Day. The plea, filed by IDBI Trusteeship Services Ltd, cites a default of Rs 228.45 crore on non-convertible debentures. An interim resolution professional has been appointed. CDEL disputed the move, but NCLT found the debt acknowledgment … Read more

RBI Governor Shaktikanta Das announced that trading of sovereign green bonds will start at the International Financial Services Centre (IFSC) in Gujarat in the second half of FY2024. The RBI plans to enable trading through a new framework. The government has raised Rs 36,000 crore through green bonds since 2022 but only Rs 1,697 crore … Read more

Realty firm Signature Global reduced its net debt by 16% to Rs 980 crore in Q1 FY2024, driven by robust housing sales. The company reported a net profit of Rs 6.76 crore, reversing last year’s loss, with total income rising to Rs 427 crore. Signature Global’s sales bookings surged to Rs 3,120 crore, targeting Rs … Read more

Non-Convertible Debentures (NCDs) are fixed-income instruments with a fixed interest rate and maturity date, providing a steady income stream for investors. Companies benefit by securing long-term, stable funding without diluting ownership. NCDs attract low-risk investors, often at lower interest rates than other debt forms, aiding in cost efficiency and effective capital management. Tata Chemicals is … Read more

Markets regulator SEBI plans to introduce a standardized reporting format for research analysts (RAs) and proxy advisers (PAs) to streamline their activity reporting. The new format, based on Industry Standards Forum recommendations, will be implemented for half-yearly reports ending September 30 and March 31. Public comments are invited until August 30. This move aims to … Read more

Siemens reported a 25% increase in profit after tax (PAT) to Rs 531 crore for the April-June quarter, compared to Rs 424 crore a year ago. Revenues grew 7% to Rs 4,714 crore. New orders rose 18% to Rs 6,245 crore. Strong performance in infrastructure and energy, but weak in Digital Industries. The profit growth … Read more