Even as the Dow and Nasdaq scale new peaks, Indian IT cos still guarded on US economy

India’s leading IT services companies, TCS, Infosys, and Wipro, are treading cautiously on demand from the US, despite rising optimism about the US driving stock markets there to all time highs. The management teams of these IT giants remain guarded in their portrayal of the situation and demand in their largest market, emphasizing the need […]

Indian IT honchos put on a brave face as GenAI disruption looms

India’s leading IT services companies, TCS, Infosys, and Wipro, find themselves at a critical juncture as the rapid rise of generative AI and its potential to disrupt traditional business models casts a shadow over the industry’s future. While the management teams of these IT giants paint a picture of resilience and opportunity in the face […]

Supreme Industries Announces Strong Q4 Results, Unveils Ambitious Capex Plans

The Supreme Industries Limited (Supreme), India’s leading plastics product manufacturing company, announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2024. The company reported impressive growth in sales volume, revenue, and operating profit, despite challenges posed by the global economic slowdown. Financial Highlights: The company’s Board of Directors […]

Paytm Payments Bank adds IAS officers, PSU bankers to board

Paytm Payments Bank Ltd (PPBL) has reconstituted its board of directors by appointing four new independent directors, days after regulatory action by the Reserve Bank of India (RBI). The new appointments come weeks after the RBI barred PPBL from onboarding new customers and directed it to stop taking fresh deposits from existing customers over violations […]

Spencer’s Bets Big on Key Regions; Plans Store Blitz

As Kolkata-based retailer Spencer’s Retail charts its recovery, the company has turned its attention to aggressively expanding its presence in select regional strongholds. After rationalizing its pan-India store network over the past few quarters, Spencer’s has now outlined detailed plans to zone in on three key geographical clusters for growth – Eastern UP, West Bengal, […]

Govt’s new subsidy regime hits fertilizer companies hard

Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) reported a significant decline in profitability margins during the latest December 2023 quarter due to industry-wide disruption stemming from a change in government policy. The company’s operating margins crashed to 6-7% in the first 9 months of financial year 2023-24, down from 18% in the same period […]

Flair Writing Ind 3rd quarter results hit by disruptions overseas

Mumbai-based Flair Writing Industries Limited (FWIL), one of the leading players in the writing instruments industry, reported a muted third quarter, blaming disruptions in some of its export markets for the decline in revenue and profit. For the third quarter ended December, the company posted consolidated revenues of Rs. 225 crores, down 3% year-on-year. Net […]

Hero MotoCorp Q3 Results: Revenue Up 21% to Rs 9,724 Crore, PAT Grows 51% to Rs 1,073 Crore

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today reported strong financial results for the third quarter ended December 31, 2023. Hero MotoCorp has been recovering well after pandemic-related disruptions. After decline in sales in 2020 and 2021 due to COVID-19, the company witnessed recovery in 2022 selling over 50 lakh units. Healthy […]

RBI Governor Signals End of Rate Hike Cycle While Remaining Vigilant on Inflation

Key Highlights of RBI’s Latest Monetary Policy: Reserve Bank of India (RBI) Governor Shaktikanta Das today indicated that the central bank may have reached the end of the current rate hike cycle after leaving the key policy rate unchanged in a split decision following the Monetary Policy Committee meeting. However, he stressed that policymakers need […]

Kansai Nerolac reports strong numbers for third quarter, pins hope on rural revival

Kansai Nerolac Paints Ltd (KNPL) today reported strong growth on several fronts during the Oct-Dec quarter despite a challenging economic environment, including slow demand from rural areas. Net revenue for the quarter rose 5.7% year-on-year to Rs 1,814.9 crores. EBIDTA jumped 27.3% to Rs 239.9 crores while profit after tax surged 40.4% to Rs 157.6 […]

Som Distilleries Aims Big For Hunter, Woodpecker Brands, Unveils Ambitious Growth Plans

Som Distilleries & Breweries Ltd is gearing up for major expansion of its business, riding the consumption boom in beer in India with its Woodpecker and Hunter brands. In keeping with its ambitious targets, the company reported robust 67% year-on-year volume growth in its beer portfolio during the third quarter of FY2024. Total beer sales […]

WABAG Secures $33.5 Million Order for Wastewater Treatment Plant in Saudi Arabia

VA Tech WABAG, a leading Indian water technology company, has announced that it has secured an order worth $33.5 million (Rs 270 crore) for designing and building an industrial wastewater treatment plant at the Ras Tanura Refinery in Saudi Arabia. The order has been awarded by SEPCO III Electric Power Construction Corporation to provide engineering […]

RailTel Bags Rs 125 Crore Order From Western Railways

RailTel Corporation of India Ltd has announced that it has received a work order worth Rs 124.90 crore for the implementation of unified communication infrastructure across the Western Railway zone. The project includes setting up IPMPLS LAN infrastructure, VOIP telephone exchanges, IP-based signaling and control communication systems. It also involves the replacement of existing UTN […]

Shift from Offline to Online Plateauing – Shoppers Stop

Leading omni-channel retailer Shoppers Stop registered a steady 4% growth in total sales for the third quarter of FY24, despite demand headwinds impacting India’s retail sector. The growth was driven by non-apparel categories like beauty and watches/fragrances, which offset continued weakness in apparel sales. Shoppers Stop’s beauty business achieved record quarterly sales of INR 262 […]

JSW Infrastructure Posts Strong Q3 Results Driven by Volume Growth and Operating Leverage

Mumbai-based JSW Infrastructure Limited announced robust third quarter results for the period ending December 31st, 2023, driven by healthy cargo volume growth, operating leverage, and strategic expansion. Cargo volumes handled grew 17% year-over-year to 28.1 million metric tonnes in Q3 FY2024. Higher utilization rates at Paradip Iron Ore Terminal, Paradip Coal Terminal, and Mangalore Coal […]

Hester Biosciences sees 40% fall in PAT on lower demand for goat pox vaccine

Animal healthcare company Hester Biosciences’ quarterly revenues and profits declined on a year-on-year basis due to a sharp fall in its revenue from animal healthcare. Hester’s total standalone revenues for Q3 FY24 decreased by 7% to Rs 655.05 crore compared to Rs 707.73 crore in the year-ago period, mainly due to an 18% decline in […]

Budget 2024: What To Expect

As India gears up for the presentation of its interim Budget for 2024, expectations are running high among various stakeholders. The interim Budget, often seen as a precursor to the full budget, sets the tone for the government’s financial strategy and policy direction for the upcoming fiscal year. Taxation: A Key Focus A central aspect […]