As Accenture’s deal bookings hit an all-time high of $22.1 billion, up 17% YoY in CC terms, in the second quarter, investors are betting that large Indian IT companies may gain more than smaller ones. “Increasing client focus on larger deals and slowdown in smaller deals position larger IT firms more favorably than mid/small sized…
Continue ReadingReliance Capital’s arm Reliance General Insurance, reported a net profit of Rs 59 crore for the third quarter ended December, higher by 23%, compared with Rs 48 crore reported in the previous year period. During the April-December period, the company’s gross written premium rose 13% year-on-year to Rs 8,208 crore as against Rs 7,294 crore…
Continue ReadingDivgi TorqTransfer Systems shares listed at over a 5% premium over IPO price, at Rs 620 on the NSE amid a flat domestic market. The scrip touched a high of 5.08% before settling to trade flat at a mild gain of 0.14% at Rs 590.85 over its issue price of Rs 590. A positive listing…
Continue ReadingByju’s, the world’s most valuable edtech startup, is seeking to raise as much as $250 million through the issuance of convertible notes by its tutoring service unit, Bloomberg reported on March 9, citing people familiar with the matter. Aakash Educational Services, the firm’s tutoring business provider, will issue the notes that will convert into equity…
Continue ReadingFMCG major Nestle India on Thursday posted a 66% year-on-year (YoY) rise in net profit at Rs 628 crore for the fourth quarter ended December 2022. The profit stood at Rs 379 crore in the corresponding quarter last year. The company follows a January-December financial year. The Board has recommended a final dividend of Rs…
Continue ReadingThe Reserve Bank of India monetary policy committee (MPC) is set to announce its latest bi-monthly monetary and credit policy on Wednesday, 8 February, concluding a 3-day meeting. Since retail inflation has dropped to remain below RBI’s threshold of 6% for three months in a row, the MPC is expected to increase interest rate by…
Continue ReadingWhat is a REIT? India saw its first REIT (Real Estate Investment Trust) in 2019. Three years later there are now three (Mindspace REIT, Brookfield REIT, and Embassy REIT). REITs as an investment option have gained significant popularity among institutions & retail investors. Real Estate Investment Trust (REIT) is a tax-efficient vehicle that owns a…
Continue ReadingA budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for a person, a group of people, a business, a government, or just about anything else that makes and spends money. Top 8 Objectives of…
Continue ReadingSah Polymers will make its grand debut on the BSE and NSE on January 12. This would be the second listing since the beginning of New Year 2023, after Radiant Cash Management Services which had started the year on a strong note despite tepid IPO subscription and market correction. Customised bulk packaging solutions provider Sah…
Continue ReadingSEBI permits government shareholding in IDBI Bank to be reclassified as public after stake sale. The Securities and Exchange Board of India has given its approval for reclassification of the government’s shareholding in the bank as ‘public’ after its stake sale. The government and state-run Life Insurance Corporation of India (LIC) will sell 60.72% stake…
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