On August 6, 2024, AXISCADES Technologies Limited released its financial results for the quarter ended June 30, 2024. For Q1 FY 2025, the company reported a Revenue from Operations of ₹223 crore, reflecting a 4.5% year-on-year (YoY) increase. In U.S. dollar terms, revenue for the quarter stood at $26.9 million, up 2.5% YoY. The company’s …
Morepen Laboratories Limited has successfully concluded its Qualified Institutional Placement (QIP) by raising ₹200 crores. The issue witnessed an overwhelming response, garnering bids worth ₹335 crores, indicating strong investor confidence in the company’s growth prospects. Global Investor Participation The QIP attracted participation from prominent global investors, including Bank of America Securities Europe, Samsung India, Citigroup, …
Gujarat State Fertilizers & Chemicals Limited (GSFC), a Fortune 500 company owned by the Government of Gujarat, has announced its financial results for the first quarter of the fiscal year 2024-25. Despite a 6% increase in revenues from operations, GSFC’s operating profitability was squeezed in Q1 FY24-25 compared to the same period last year. While …
Patel Engineering Limited, in consortium with a joint venture partner, has been awarded a significant contract valued at ₹317.60 crore by the Office of the Executive Engineer, Government of Maharashtra. The project entails the construction of a water-lifting arrangement for the initial phase of the Jigaon project, which has been submerged. The scope of work …
Manali Petrochemicals Limited (MPL), a leading petrochemical manufacturer and a subsidiary of AM International, Singapore, has announced its financial results for the quarter ended June 30, 2024. The company recorded a consolidated total income of ₹246 crore and a profit after tax of ₹13 crore for the quarter, compared to ₹262 crore and ₹1.30 crore …
On August 5, 2024, Thomas Cook (India) Limited announced that it has decided to invest an additional ₹6,00,000 in its wholly-owned subsidiary, Indian Horizon Marketing Services Limited. This investment was made through a rights issue, allocating 60,000 fully paid-up equity shares at ₹10 each. This investment is classified as a related party transaction, as the …
On August 5, 2024, Craftsman Automation Limited announced its decision to acquire Sunbeam Lightweighting Solutions Private Limited (Sunbeam) through a securities subscription and purchase agreement (SSPA). This move follows an earlier stock exchange notification dated June 24, 2024, and is in compliance with Regulation 30 and other applicable regulations of the Securities and Exchange Board …
Bangladesh, India’s neighbouring country, has been experiencing severe turmoil for the past 2 months. The crisis in Bangladesh could disrupt trade with India, impacting goods movement and stalling a potential free trade agreement. India’s trade surplus with Bangladesh was $9.2 billion in FY24. Bangladesh is India’s 25th largest trading partner, with bilateral trade totalling $12.9 …
On August 19, 2024, Glenmark Therapeutics Inc., USA, announced the launch of its new over-the-counter eye drop product, Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1%. This product’s active ingredient is similar to that found in Pataday® Twice Daily Relief. According to Nielsen® data for the 52 weeks ending July 13, 2024, Pataday® Twice Daily Relief (OTC) …
The mutual fund (MF) industry in India has experienced a phenomenal journey over the past decade. According to the Association of Mutual Funds in India (AMFI), the assets under management (AUM) have witnessed an impressive more than six-fold increase from Rs 9.75 lakh crore in June 2014 to Rs 61.16 lakh crore in June 2024. …
