Ester Industries Limited, in a recent stock exchange filing, announced the incorporation of ESTER LOOP INFINITE TECHNOLOGIES PRIVATE LIMITED (ELITe) as a wholly-owned subsidiary. This development follows the execution of a Joint Venture Agreement dated May 1, 2024, between Ester Industries Limited (EIL) and Loop Industries Inc. (Loop). ELITe was officially incorporated in India on …
On July 22, 2024, Titagarh Rail Systems Limited (TRSL) began exporting traction converters. The first shipment of 8 converters was sent to Titagarh Firema S.p.A in Italy on July 19, 2024. This export is part of a EUR 7.18 million (approximately ₹65 crore) order from Titagarh Firema. It marks the first time traction converters have …
In the latest Union budget, Finance Minister Nirmala Sitharaman announced a hike in the basic customs duty on imported printed circuit board applications (PCBAs) for specific telecom equipment. This decision is part of a broader strategy to encourage domestic manufacturing and reduce reliance on imports. However, this change will have mixed impacts on various stakeholders …
Hindustan Unilever (HUL), India’s largest consumer goods company, reported a 2.7% y-o-y increase in standalone net profit for Q1FY25, reaching Rs.2,538 crore. This figure aligns with street estimates, which had forecasted a profit of Rs.2,561 crore. Revenue, encompassing product sales and other operating income, rose 1.3% y-o-y to Rs.15,339 crore, meeting analysts’ expectations of Rs.15,325 …
The Union budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, brought significant movements in the stock market With the announcement of no changes in the tax rates for cigarettes and tobacco products, ITC Ltd. experienced a notable surge in its share price, The stock of ITC Ltd. has scaled new 52-week high of Rs.510.65 …
India’s non-bank lender, Bajaj Finance, reported a smaller-than-expected Q1 FY25 profit on Tuesday, weighed down by higher provisions for bad loans. The company disclosed a consolidated net profit after tax of Rs 3,912 crore, marking a 14% year-on-year increase for the quarter ended June 30, 2024. This figure fell short of many analysts’ estimates of …
Introduction Hi-Tech Pipes Ltd., a leading manufacturer of steel tubes and pipes in India, is making significant strides towards decarbonising its manufacturing facilities. In alignment with India’s ambitious goals for zero carbon emissions by 2070 and the National Green Hydrogen Mission, the company is implementing various green energy projects. Government’s Strategic Climate Goals The Government …
Shiva Cement Limited (SCL) has announced in a stock exchange filing that its Board of Directors, following the Audit Committee’s recommendations, has approved a significant business development plan. This plan involves the establishment of a new cement grinding unit with a capacity of 1.0 million tons per annum (MTPA) at Bhushan Power and Steel Limited’s …
On June 27, 2024, the Nifty 50 rose by 0.74% and closed at 24,044, and the Sensex grew by 0.72%, closing at 79,243. Top Gainers and Losers On the sectoral front, Nifty IT, Nifty Oil & Gas, Nifty Auto and Nifty Metal ended in the green. Meanwhile, Nifty Media, Nifty PSU Bank, Nifty Pharma, and …
On June 26, 2024, the Nifty 50 rose by 0.62% and closed at 23,868, and the Sensex grew by 0.80%, closing at 78,674. Top Gainers and Losers On the sectoral front, Nifty Media, Nifty Oil and Gas, Nifty Private Bank, and Nifty Bank ended in the green. Meanwhile, Nifty Metal, Nifty Realty, Nifty Auto, and …
