Finshorts
Vodafone sold its 3% stake in Indus Towers for ₹2,800 crore, using ₹890 crore to settle lender dues. Residual proceeds of ₹1,910 crore funded a preferential allotment in Vodafone Idea, raising Vodafone’s stake in Vi to 24.39% from 22.56%. The capital infusion enabled Vodafone Idea to clear outstanding dues to Indus Towers, fulfilling all obligations … Read more
The rupee touched a historic low of ₹86.00 against the US dollar on Friday, declining 14 paise amid sustained foreign institutional investor (FII) outflows, stronger dollar demand, and surging crude oil prices. Negative domestic equity trends added to the pressure. Rising US bond yields and expectations of restrictive US trade policies fuel demand for the … Read more
CESC Ltd reported a 6.3% drop in Q3 FY25 consolidated net profit to ₹282 crore, down from ₹301 crore in the same period last year, impacted by lower regulatory income of ₹300 crore (vs ₹560 crore YoY) and higher expenses at ₹3,595 crore. Total income rose to ₹3,657 crore. The board declared an interim dividend … Read more
Adani Wilmar shares plunged nearly 10% after the Adani Group announced plans to sell up to 20% stake via an Offer For Sale (OFS) to raise ₹7,148 crore. The stake sale, priced at ₹275 per share, is part of Adani’s strategy to exit non-core businesses and focus on infrastructure. Proceeds will boost Adani Enterprises’ growth. … Read more
Tata Consultancy Services (TCS) surged 5% after reporting an 11.95% rise in Q3 net profit to ₹12,380 crore, driven by strong order bookings of $10.2 billion. Revenue grew 5.6% YoY to ₹63,973 crore. The market valuation increased by ₹69,829 crore, reaching ₹15.3 lakh crore. Positive results boosted sentiment for IT stocks like Infosys and HCL … Read more
Ashiana Housing reported a 2.5-fold jump in sales bookings to ₹454.31 crore in Q3 FY25, up from ₹173.88 crore a year ago, driven by robust demand for residential properties. The company sold 451 units in the quarter, marking an 80% rise. With ₹1,362 crore in bookings for April-December FY25, Ashiana is poised for sustained growth, … Read more
Indian Renewable Energy Development Agency (IREDA) posted a 27% rise in net profit to ₹425.37 crore for Q3 FY25, driven by a 36% revenue growth to ₹1,699 crore. The company’s net worth surged 21% year-on-year to ₹9,842 crore. With improved loan sanctions and disbursements, IREDA is positioned to capitalize on India’s renewable energy goals, potentially … Read more
Hindustan Copper Ltd has appointed South West Mining Ltd as the mine developer and operator for reopening and expanding the Rakha Copper Mines and developing an underground mine at Chapri. The project, involving ₹2,700 crore, aims to generate 10,000 jobs. Mining at Rakha was suspended in 2001 due to unviable operations. The 20-year project, extendable … Read more
The BSE 500 index declined 0.49% with a weak advance-decline ratio of 0.19, as 32 sectors faced losses. FMCG led gains, rising 1.11%, driven by Colgate-Palmolive’s 4.62% jump. Auto and Pharma sectors saw modest gains, with Bajaj Auto up 0.92% and Zydus Lifesciences rising 4.09%. Oil & Gas fell 1.57%, impacted by Oil India’s 6.88% … Read more
The rupee slipped to an all-time low of ₹85.92 against the US dollar on Wednesday, pressured by rising US bond yields and foreign institutional investor outflows of ₹3,362 crore. Weak domestic equities and elevated crude oil prices further weighed on the currency. A stronger dollar index, trading near 108.80, added to the downward pressure. Investors … Read more