SUNAINA

Bharat Forge’s consolidated net profit fell 18% to ₹175 crore for the June 2024 quarter, down from ₹214 crore a year ago. Total income rose to ₹4,158 crore from ₹3,941 crore. The company plans to raise up to ₹2,000 crore by issuing securities. Despite strong performance in defense and oil & gas sectors, weak CV … Read more

Power Finance Corporation (PFC) has obtained a loan of 25.5 billion Japanese yen (about Rs 147 crore) from the Japan Bank for International Cooperation (JBIC) for a wind energy project. This long-term loan is part of JBIC’s GREEN initiative and is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks. The funds will support … Read more

MRF’s consolidated net profit for Q1 FY24 fell 3% to Rs 571 crore from Rs 589 crore a year ago. However, total income rose to Rs 7,280 crore from Rs 6,515 crore in the same quarter last year. Shares of MRF were up 4.80% to Rs 1,41,130 on the BSE following the announcement. Despite profit … Read more

RBI Governor Shaktikanta Das proposed transitioning the Cheque Truncation System (CTS) to continuous clearing, aiming for same-day cheque clearance. Currently, cheques are processed in batches, leading to up to two-day settlement cycles. CTS, introduced in 2008, uses electronic images instead of physical cheques, reducing costs and risks. The new proposal would speed up clearance, enhance … Read more

The Reserve Bank of India (RBI) kept the repo rate at 6.5% in its latest policy meeting. It aims to curb inflation and support growth, with FY’25 GDP growth forecasted at 7.2% and retail inflation at 4.5%. Global economic conditions are steady, while domestic activity remains strong. Forex reserves hit a record USD 675 billion. … Read more

Jio Studios, part of Reliance Industries, achieved Rs 700 crore in box office revenue for FY2024. The studio released 11 films, 35 direct-to-digital titles, and 8 web series across various platforms. Notable successes include Marathi hits and Tamil and Bengali projects. Reliance’s media arm, including Jio Cinema, boasts a 12.7% TV viewership share and 225 … Read more

Welspun Corp Ltd (WCL) reported a 47% rise in net profit to Rs 247.94 crore for the June quarter, thanks to lower expenses. Net income fell to Rs 3,179.67 crore from Rs 4,118.78 crore a year ago. WCL reduced expenses to Rs 2,914.50 crore from Rs 3,878.67 crore. The company is acquiring Weetek Plastics Pvt … Read more

Moody’s Ratings has upgraded Tata Motors Ltd’s corporate family rating by two notches to Ba1 from Ba3, citing strong governance, financial prudence, and effective debt management. Tata Motors’ senior unsecured instruments’ ratings were also upgraded to Ba1. Moody’s maintains a positive outlook due to Tata Motors’ revenue growth, improved profitability, and effective debt reduction, despite … Read more

Pidilite Industries Ltd reported a 20.6% increase in consolidated net profit to Rs 571.27 crore for the first quarter ended June 2024. This compares to Rs 473.69 crore in the same quarter last year. Revenue from operations grew by 3.67% to Rs 3,395.35 crore. The profit boost was driven by lower input costs and improved … Read more

ICICI Prudential Life Insurance Company reported on Wednesday that its assets under management (AUM) reached Rs 3.14 lakh crore as of July 31. The company has insured 9.84 crore lives, and its total in-force sum assured has surpassed Rs 35 lakh crore. This milestone reflects significant growth in its financial portfolio and coverage. This achievement … Read more