Finshorts
Nalco’s consolidated profit surged 76.3% to Rs 588.42 crore for Q1 FY24, up from Rs 333.76 crore a year ago. However, consolidated income fell to Rs 2,916.62 crore from Rs 3,226.88 crore. The board proposed a final dividend of Rs 2 per share for 2023-24, pending shareholder approval. Nalco, a leading aluminum producer, continues operations … Read more
Punjab National Bank has introduced the PNB ANTAH DRISHTI Braille Debit Card for visually impaired customers. This contactless card operates on the RuPay network and is part of the National Common Mobility Card (NCMC) system. The card promotes financial inclusivity and independence, aiming to improve ease and confidence in managing finances. This move supports greater … Read more
Dhanlaxmi Bank reported an Rs 8 crore loss for Q1 FY25, a reversal from the Rs 28 crore profit in Q1 FY24. Total income fell to Rs 338 crore from Rs 341 crore. Interest income increased to Rs 306 crore. Gross NPAs decreased to 4.04%, while net NPAs rose to 1.26%. Investors should note the … Read more
Sterling and Wilson Renewable Energy (SWREL) has won a Rs 550 crore contract to build a solar plant in Rajasthan. The project will be executed in EPC mode. This order adds to the Rs 900 crore in domestic orders secured in Q2 FY25 and the Rs 2,170 crore from Q1. SWREL’s total portfolio now exceeds … Read more
Union Minister Giriraj Singh accused Hindenburg Research of defaming India and collaborating with Congress. Hindenburg’s recent report alleged that SEBI chairperson Madhabi Buch and her husband held stakes in offshore funds linked to the Adani scandal. Buch and Adani have denied the claims. Singh condemned Congress leaders and demanded strict action against Hindenburg. This controversy … Read more
Life Insurance Corporation of India (LIC) plans to invest Rs 1.30 lakh crore in equities this financial year. In Q1 FY25, LIC invested Rs 38,000 crore in shares, up from Rs 23,300 crore last year, and earned a profit of Rs 15,500 crore, up 13.5% from the previous quarter. LIC’s AUM rose 16.22% to Rs … Read more
All ten Adani group stocks fell sharply on Monday after Hindenburg Research alleged SEBI Chairperson Madhabi Puri Buch and her husband had undisclosed investments in offshore funds linked to fund manipulation and stock inflation. Adani Energy Solutions dropped 17%, Adani Total Gas fell 13.39%, and others followed. This turmoil highlights regulatory scrutiny risks for the … Read more
Ritesh Agarwal invested Rs 830 crore through Patient Capital in OYO’s latest Series G funding round, raising Rs 1,457 crore in total. Post-investment, Agarwal’s stake will increase from 29.97% to 32.57%. The new funding values OYO at USD 2.4 billion and will support global expansion. This signals strong confidence in OYO’s growth prospects.
Reliance Industries plans to launch its first solar giga-factory this fiscal, aiming for 20GW solar PV manufacturing by FY25. The facility in Jamnagar will produce PV modules, cells, and batteries. Reliance targets 100GW of renewable capacity by 2030. This move supports its goal of net zero carbon emissions by 2035. Investors should note potential growth … Read more
India’s coal imports rose 5.7% to 75.26 million tonnes (MT) in Q1 FY24, up from 71.16 MT in the same period last year. June imports were up 6.59% to 22.97 MT. Non-coking coal imports increased while coking coal imports remained stable. Despite the rise, future import demand may be subdued due to slower industrial activity. … Read more