If you are a professional stock trader or if you track the equity market actively, check out our Real-time EquityWireIf you track the bond or forex market or the macro economy actively, check out our Real-time MoneyWireIf you track agri commodities, precious metals or base metals actively, check out our Real-time CommodityWire
Dr. Reddy's Laboratories Ltd.'s consolidated net profit for the quarter ended September rose over 7% to INR 13.47 billion from INR 12.56 billion a year ago but was lower than analysts' estimate of INR 14.04 billion. The company's consolidated revenue for the quarter was INR 88.28 billion, up nearly 10% from INR 80.38 billion a year ago. Read more
Pharmaceuticals major Dr. Reddy's Laboratories Ltd. posted a consolidated net profit of INR 14.18 billion in the June quarter, up 1.85% on year. It missed the Street expectations of INR 15.48 billion for consolidated net profit. Its consolidated revenue for the reporting quarter rose 11.4% on year to INR 85.72 billion. The company declared its Apr-Jun results after market hours Wednesday. Read more
HDFC Bank Ltd. has reduced the marginal cost of funds-based lending rate by 30 basis points on most tenures. The rate was lowered by 30 bps on all tenures except two-year loans, where it was reduced by 35 bps. The revised rates came into effect from Monday, according to information on the bank's website. Read more
The Securities and Exchange Board of India Monday proposed allowing mutual fund asset management companies to manage pooled non-broad-based funds in a consultation paper on the regulatory framework on permissible business activities by their asset management companies. The regulator has sought comments from stakeholders on the consultation paper by Jul. 28. Read more
By Anjana Therese AntonyInvestors are heaving a sigh of relief with respect to the domestic equity market as favourable macroeconomic factors pave the way for bulls in the near-to-medium term. The market, which was under pressure a couple of months ago, has recovered from the heat of US tariffs and the geopolitical tension in West Asia. With the US economy expected to see even more headwinds, experts believe India will once again become a preferred bet among emerging markets, supported by a good monsoon, better liquidity, and an increase in the government's capital expenditure. All these are likely to help the benchmark Nifty 50 to continue its northward journey for the fifth consecutive month in July. Read more
India is poised to remain one of the world's fastest growing economies in the coming years, Finance Minister Nirmala Sitharaman Friday said in Brazil's Rio de Janeiro. Sitharaman said the Indian economy has shown "remarkable growth and resilience" in the post-pandemic era. Read more
The Securities and Exchange Board of India Tuesday gave a six-month extension to qualified stock brokers on the timeline to have systems in place to provide an option of T+0 settlement cycle to their clients. On Dec. 10, SEBI had extended the scope of optional T+0 settlement cycles in the equity cash market, and qualified stock brokers were required to put in place by May 1 the necessary systems and processes to enable participation of their clients in the shortened settlement cycle. Read more
By Rajesh GajraThe benefit of a jump in other income due to reversal in tax provisions and a double-digit increase in volume and revenue was offset by a substantial increase in total tax expenses, rise in key input costs, and a fall in government grants, resulting in Ambuja Cements Ltd.'s consolidated net profit to decline 9% on year to INR 9.56 billion in the March quarter. The reported net profit number was, however, above analysts' estimate of INR 8.1 billion. Read more
By Ashutosh Pati State-owned Bharat Petroleum Corp. Ltd.'s net profit for the March quarter slumped nearly 24% on year to INR 32.14 billion, but its performance was still better than what analysts had expected. Analysts had thought the company would report a 37?ll in net profit. Read more
