Five-Star Business Finance reported a 34% year-on-year increase in net profit for the second quarter of FY25, reaching Rs 268 crore. The Chennai-based non-banking finance company (NBFC) saw its total income rise by 35% to Rs 706 crore. Interest income for the July-September quarter increased 34% year-on-year to Rs 679 crore. The lender’s disbursements grew
The Competition Commission of India (CCI) has sought bids to appoint an agency for carrying out digital forensics that will aid the competition watchdog in its investigations. As per the bid document, the service provider will have to acquire, extract and analyse digital evidences from various electronic devices such as mobile, computers, tablets, storage devices
Consumer goods major Marico reported a nearly 20% year-on-year rise in consolidated net profit for Q2 FY25, reaching Rs 423 crore and surpassing market expectations. Bloomberg analysts had estimated net profit at Rs 389 crore. Revenue for the quarter grew 7.6% year-on-year to Rs 2,664 crore, with underlying volume growth at 5% and price-led growth
Sajjan Jindal-led JSW Group and South Korea’s POSCO Group on Tuesday signed an agreement to set up an integrated steel plant in India with an initial capacity of 5 million tonne per annum (MTPA). In addition to steel, the two companies will also collaborate for green energy production and manufacture of battery materials for electric
Reliance Industries on Tuesday announced that its wholly owned subsidiary, Reliance New Energy Limited (RNEL) has acquired the remaining equity share of around 8 per cent in Faradion Limited, a sodium-ion battery technology company. RNEL presently holds 92.01 per cent equity stake in Faradion Limited and post this, will acquire 100 per cent stake in
By Jitendra Agrawal Indian festivals are vibrant celebrations that present significant market opportunities and valuable consumer insights for competing brands. Over the years, we have observed a consistent rise in consumer demand during festive periods, particularly in September, October, and November. Although there was a temporary decline during the COVID years, the overall trend remains
Pharma major Cipla on Tuesday announced its unaudited consolidated financial results for the quarter ended September 30th, 2024. The company reported an 15.2 percent year-on-year rise in its consolidated net profit for the fiscal’s second quarter ended September (Q2FY25) to Rs. 1,303.53 crore. The company had reported a profit of Rs. 1,177.64 crore in the
Go to Live UpdatesQ2 Earnings 2024 Live Updates: Even as many major companies access sectors and all of the IT services giants have already released their Q2 report, many others are still in the queue to announce Q2 earnings report. Majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Bharti
In a setback to the Burman family, the Madhya Pradesh High Court has stayed the approval granted by the Reserve Bank of India (RBI) for making an open offer to acquire an additional 26% stake in Religare Enterprises as well as the company’s annual general meeting (AGM) scheduled for December 31. Earlier this month, RBI
This year, two customers from Delhi and Dehradun spent Rs 20 lakh each on Swiggy Instamart, becoming the biggest spenders on the platform. According to a report released by the company, groceries continue to be the top category for buyers on the platform this year. In its “How India Swiggy’d 2024-Quick Commerce Edition,” Swiggy said
The Delhi High Court has granted interim relief to Reliance Power’s subsidiary, Reliance NU BESS, in a petition pertaining to disqualification from participating in three bids solely on the ground of the debarment order dated November 6, issued by Solar Energy Corporation of India (SECI), against the petitioner. On November 26, the HC had granted
EatSure, the D2C platform of online restaurant company Rebel Foods, on Thursday announced the launch of a new feature allowing users to order from multiple restaurants in one order. With this, the firm has become the first food delivery app in India to do so. Swiggy and Zomato, which corner the lion’s share of India’s
The central government has recently informed Parliament about unemployment benefits being provided under various central schemes to unemployed youth in the country. In the Parliament’s winter session, which concluded last week, parliamentarian GC Chandrashekhar asked the government about plans to introduce a scheme offering unemployment allowances to unemployed youth in the country to help them
