Tata Motors Reports 1% Drop in Total Auto Sales in November 2023

Tata Motors announced its November 2023 auto sales numbers, reporting total sales of 74,172 vehicles, a 1% decline from 75,478 units sold in November 2022. However, electric vehicle (EV) sales continued to grow, with 4,761 EVs sold in November, up 7% year-over-year. In the commercial vehicles segment, Tata sold 28,029 units in November 2023, compared […]

India’s 2-wheeler market back? Bajaj Auto domestic sales up 77% in Nov

Bajaj Auto Ltd. registered a healthy 31% year-on-year increase in overall vehicular sales for November 2023, one of the country’s leading two and three-wheeler manufacturers stated today. The performance was led by the whopping 77% jump in domestic sales. According to the regulatory report submitted by the Pune-based company, Bajaj Auto clocked total sales of […]

Persistent Boosts Top Management With New Hires

As Indian IT services company Persistent Systems embarks on an ambitious growth strategy, it has brought on four new seasoned executives to strengthen its leadership team. Persistent has just added several industry veterans. Ayon Banerjee joined as Chief Strategy and Growth Officer from Boston Consulting Group, where he advised IT services companies on accelerating growth […]

Infrastructure Project Awarding Surges in October While Tendering Dips

Infrastructure project awarding continued its strong growth momentum in October 2023, registering a 65% year-on-year expansion to Rs 569 billion, while tendering activity witnessed a 11% decline to Rs 1.1 trillion, as per the latest monthly update report published by leading brokerage Antique Stock Broking Ltd. The total value of infrastructure projects awarded in October […]

BASF India Upbeat About Long-Term Prospects Despite Current Headwinds

Alexander Gerding, Managing Director of industrial chemicals manufacturer BASF India, struck an optimistic tone about the company’s long-term growth prospects in the country, despite the challenging global environment. Speaking during the Q2 FY2023 earnings conference call, Gerding highlighted several positive factors that make him confident about BASF India’s future. “I always say it’s not a […]

Wockhardt Reports Strong Q2 Revenue Growth of 11% Driven by International Businesses

Pharmaceutical company Wockhardt recently announced its financial results for the second quarter and first half of fiscal year 2023, ending September 30th, 2023. The results show strong revenue growth of 11% in Q2 and first half of FY2023, driven by Wockhardt’s international businesses in the UK, emerging markets, and Ireland. Q2 FY2023 Revenue Up 11% […]

Jindal Stainless Gets a Rating Upgrade on Integration, Debt Profile

Leading stainless steel manufacturer Jindal Stainless Limited (JSL) has received a credit rating upgrade from CRISIL Ratings. The company’s long-term bank facilities and debt programme rating has been revised upwards from CRISIL AA-/Positive to CRISIL AA/Stable. Meanwhile, the short-term bank facilities rating has been reaffirmed at CRISIL A1+. This rating action factors in Jindal Stainless’ […]

Improved Capacity Utilization, Lower Costs Underlie Himatsingka Seide’s Q2 Performance

Bengaluru-based textile manufacturer Himatsingka Seide Limited announced its financial results for the second quarter of fiscal year 2024, ending September 30, 2023. The company reported strong year-over-year growth in revenue and profitability, driven by higher capacity utilization levels across its key divisions and softening prices of raw materials like cotton. Himatsingka Seide’s consolidated net revenue […]

Vakrangee Reports Strong Profits in Q2 Results

Mumbai-based Vakrangee Limited, a technology-driven company focused on building India’s largest network of last-mile retail outlets, announced a sharp increase in its profits for the second quarter ended September 30, 2023. The company’s profit after tax jumped 210.55% to Rs. 42.39 lakhs compared to the same quarter last year. EBITDA also rose 40.80% to Rs. […]

Wonderla reports strong second quarter results as demand continues to increase

Wonderla Holidays Limited, India’s largest amusement park operator, has reported strong growth in revenue and footfalls for the second quarter ended September 30, 2023, indicating a recovery after COVID-19 disruptions. The company’s gross revenue grew 17% year-on-year to Rs 81.41 crore in Q2 FY2024, compared to Rs 69.73 crore in Q2 FY2023. Footfalls increased 6% […]

Voltas junks plan for NCD issue, to go for Rs 500 cr bank loan

Voltas Limited has decided to raise funds through a rupee term loan instead of non-convertible debentures (NCDs) on a private placement basis. In a regulatory filing, Voltas informed the stock exchanges that its board had earlier approved a proposal on October 19 to raise up to Rs 500 crore through issuance of NCDs. However, the […]

Jyothy Labs Reports Strong Q2 Results, Sales Up 11% and Net Profit Rises 59%

Mumbai-based FMCG company Jyothy Labs Limited announced robust results for the second quarter ended September 30, 2023. The company reported an 11.1% increase in net sales to Rs 732 crores compared to the same period last year. Net profit jumped 59.1% to Rs 104 crores versus Rs 65.4 crores in Q2 FY2023. The growth was […]

Glenmark Pharma Receives FDA Approval for Anti-Psychotic Tablets

Glenmark Pharmaceuticals Ltd. announced today that it has received final approval from the U.S. Food and Drug Administration (FDA) for its generic version of Prolixin (fluphenazine hydrochloride) tablets in four strengths – 1 mg, 2.5 mg, 5 mg, and 10 mg. Glenmark’s fluphenazine hydrochloride tablets are the generic version of Prolixin tablets from Apothecon Inc. […]

DB Realty Divests Rustomjee Crown for Rs 231 Crore

DB Realty Limited has executed a share purchase agreement to sell its entire stake in wholly-owned subsidiary Real Gem Buildtech Private Limited (RGBPL) to Kingmaker Developers Private Limited for approximately Rs 231.42 crores. As per the regulatory filing by DB Realty, the share purchase agreement was signed on November 6, 2023 and the deal is […]

Kolte-Patil Developers reports robust growth in Q2 FY24 despite macro uncertainties

Pune-based real estate developer Kolte-Patil Developers Ltd (KPDL) has reported strong operational and financial performance in the second quarter of FY 2023-24 (Q2 FY24), with healthy growth in new sales, collections and revenues compared to the same period last year. In its earnings release, KPDL said it achieved new sales of 0.98 million square feet […]

Exide Industries Reports Strong Q2 Results, Profit Rises 17%

Kolkata-based battery maker Exide Industries today reported its financial results for the second quarter and first half ended September 30, 2023. The company posted healthy growth in revenues and profits on the back of improved demand across automotive and industrial segments. Exide’s revenue from operations grew by 10% year-on-year to Rs 4,107 crore in Q2 […]

Titan Records 21% Growth in Q2 FY2023-24, Led by Strong Performance Across Segments

Titan Company Limited, India’s leading consumer lifestyle company and part of the Tata Group, today reported strong second quarter results for the period ended September 30, 2023. The company’s total standalone income grew 21% year-on-year to Rs 10,027 crore in Q2 FY2023-24. Profit before tax (PBT) rose 9% to Rs 1,261 crore from Rs 1,155 […]