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 […]

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 […]

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 […]

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 […]

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’ […]

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 […]

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 […]

Suven Life Sciences Announces Positive Results from Narcolepsy drug trial

Hyderabad-based Suven Life Sciences today announced positive topline results from a Phase 2 clinical trial evaluating its investigational drug samelisant for the treatment of excessive daytime sleepiness (EDS) in adult patients with narcolepsy. The randomized, placebo-controlled study met its primary endpoint, demonstrating that samelisant treatment resulted in a statistically significant and clinically meaningful reduction in […]