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 […]

Dixon Tech to start laptop manufacturing in Aug-Sep 2024

Electronic manufacturing major Dixon Technologies announced firm plans to diversify into laptop and tablet manufacturing, eyeing commencement of production in the second half of 2024. The Noida-based company has finalized partnerships with global brands including Lenovo and Asus for local assembly of their laptop models in India. “The new contracts for notebooks, laptops that we […]

With new clients like Xiaomi and Motorola, Dixon Tech sees no end to growth

Noida-based Dixon Technologies, one of the leading domestic contract manufacturers, expressed strong confidence in quadrupling its business over the next 4-5 years, indicating an expected growth rate of 35-40% annually. During the company’s Q3FY24 earnings call, Managing Director Atul Lall responded to a question on how Dixon views the future growth potential with its strengthened […]

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 […]

Biocon Receives Update from USFDA on Bevacizumab Biosimilar Approval

Biocon Ltd today announced that the U.S. Food and Drug Administration (USFDA) has issued a Complete Response Letter (CRL) for the company’s Biologics License Application (BLA) seeking approval for its proposed biosimilar bevacizumab. Bevacizumab is an anti-cancer drug used to treat various types of cancers. Biocon has developed a biosimilar version of bevacizumab under the […]

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 […]

Ramkrishna Forgings Secures $13 Million Contract from North American Axle Manufacturer

Leading forged products supplier Ramkrishna Forgings Limited has announced that it has won a significant $13.16 million (Rs 109.2 crore) contract from a major North American axle manufacturer. The 4-year contract entails supplying rear axle components and services for the off-highway sector. Ramkrishna Forgings emerged as the preferred supplier after a competitive bidding process thanks […]

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 […]