Mid-tier IT services firm Persistent Systems reported a 6% sequential increase in net profit to Rs 325 crore for the quarter ended September. Year-on-year, net profit surged 23.4%, driven by the company’s focus on an AI-led services strategy. The company’s consolidated revenue also saw a 6% quarter-on-quarter rise to Rs 2,897.1 crore, marking a 20%
The FMCG sector is facing sluggish demand as it is becoming polarised with the middle class shrinking but simultaneously there being high demand for premium products, Nestle India chairman and managing director Suresh Narayanan said on Tuesday. He added that in bigger cities, a channel shift is also being noticed with people preferring e-commerce and
Retailers’ allegation of anti-competitive behavior against quick commerce companies like Blinkit, Zepto, and Swiggy Instamart may not result in anti-trust action against the latter, as these firms don’t meet the requirement of having dominant position in the relevant market, experts say. In a letter dated October 18, the All India Consumer Products Distributors Federation (AICPDF)
Bengaluru-based social investing platform, StockGro, is gearing up for its international expansion with a soft launch in the UAE during the first week of November, partnering with the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX). “The exchanges in UAE have been thin on trade volumes. In partnering with ADX and DFM, our
Reliance Infrastructure on Tuesday announced that it will be setting up an integrated project for manufacturing explosives, ammunition and small arms in Ratnagiri, Maharashtra. The company has been allotted 1,000 acres of land in the Watad Industrial Area of Ratnagiri to develop the Dhirubhai Ambani Defence City (DADC). DADC will be the largest greenfield defence
India’s export of petroleum products remained muted in the first half of the current financial year 2024-25, while the imports surged 10% for the period, as per data from Petroleum Planning and Analysis Cell. The country exported 31.0 million tonnes of refined oil products during April to September, almost unchanged from 30.7 million tonnes in
Adani Energy Solutions posted a more than two-fold jump in its Q2 FY25 net profit, reaching Rs 675 crore, compared to Rs 276 crore in the same quarter of the previous financial year. However, it missed analysts’ net profit estimate of Rs 888 crore. The strong profit growth was driven by a higher Ebitda, along
Coming down hard at futures and options (F&O) traders, Ashwani Bhatia, whole time member of the Securities and Exchange Board of India (SEBI), on Tuesday warned investors against chasing quick returns and turning the high-risk (F&O) trading into a ‘national pastime’. “F&O cannot be a national pastime. We need to do serious investing and investors
In a significant move announced on February 1, Finance Minister Nirmala Sitharaman relaxed the conditions for tax relief on self-occupied properties in the Union Budget 2025. Taxpayers can now claim tax benefits for two self-occupied houses, a major change from the previous rule that allowed relief for only one property. “Presently tax-payers can claim the
New Income Tax Slabs for FY 2025-26: Finance Minister Nirmala Sitharaman, in her Budget 2025 speech, announced the latest income tax slabs for the financial year 2025-26. The revised tax structure is aimed at providing relief to middle-income earners while maintaining a progressive taxation system. New Income Tax Slabs for FY 2025-26 Income up to
During the budget speech, Finance Minister Nirmala Sitharaman said that those earning up to Rs 18 lakh per annum will save Rs 70,000 in annual taxes. (This is a developing story) » Read More
The Indian toy industry got a major push as Finance Minister Nirmala Sitharaman, while presenting Budget 2025, announced a national action plan to make India a global hub for toy manufacturing. The shares price of Ok Play India saw an immediate reaction, gaining 2.10% to Rs 17 as traders responded positively to the government’s intent
The fertilizer sector in the special trading session on Budget 2025 saw a significant rally after Union Finance Minister Nirmala Sitharaman’s announcement of a new urea plant in Assam. The move, part of the Union Budget 2025-2026, made a rally in the stock prices of the fertilisers and urea stocks. Fertilizer stocks on the rise
