Profitsheets

 Shares of KEI Industries rallied 6 per cent to hit a record high of RS 1,172.60 on the BSE in Wednesday’s intra-day commerce, had have surged as a lot as 25 per cent in previous one month on the again of robust outlook. The stock surpassed its earlier high of RS 1,159 hit on November 26, 2021. In the previous three months, the stock of KEI Industries has surged almost 50 per cent, as in comparison with a 0.32 per cent rise within the Sensex. Moreover, up to now six months, it has rallied 85 per cent as towards a 11 per cent rise within the benchmark index. Further, over the previous one year, the market price of KEI Industries has zoomed 174 per cent, as in comparison with a 29 per cent surge within the Sensex. For July-September quarter (Q2FY22), KEI reported a wholesome income growth of 30.52 per cent year on year (YoY) at RS 1,353 crore, with all segments recording growth (aside from EPC). Earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) margin de...

 MG Motor India (MGI) on Wednesday reported a 40 per cent decline in retail sales to 2,481 units in November 2021, as the production was adversely impacted by the ongoing semiconductor shortage. The company had clocked retail sales of 4,163 units in the same month last year. "Enduring the industry challenges of global semiconductor chip shortage, which has severely constrained the production levels, MG Motor India (MGI)is continuously working towards delivering to customers their much-awaited MG cars on time," the company said in a statement. Also Read :  MG Motor launches Astor at RS 9.78 lakh, priced below Hyundai Creta The newly launched SUV Astor along with Hector, ZS EV and Gloster continue to have strong customer interest, and the company is working towards fulfilling its promise and delivering the first batch of 5,000 Astor within 2021, it added.

  RateGain Travel Technologies, the largest Software as a Service (SaaS) company in the hospitality and travel industry in India, has fixed a price band of RS 405-425 per equity share for its maiden public offer. The issue will open for subscription on December 7 and will continue till December 9. The anchor book of the company is expected to open for a day on December 6. The public issue comprises a fresh issuance of shares worth RS 375 crore and an offer for sale (OFS) of up to 2,26,05,530 equity shares by promoters and an investor. Investor Wagner will offload 1.71 crore equity shares through OFS, while promoters Bhanu Chopra, Megha Chopra, and Usha Chopra will sell 54.91 lakh equity shares. The offer includes a reservation of shares worth RS 5 crore for company's employees who will get those shares at a discount of RS 40 per share to final issue price. The public issue will fetch the company RS 1,335.73 crore at the upper price band. The fresh issue proceeds will be utilized fo...

  Stocks In the News: Check out the companies such as Maruti Suzuki India, NTPC, TCS and other making the biggest headlines before the opening bell. NTPC :  Unit-4 of 250 MW capacity of Nabinagar Thermal Power Project (4X250 MW) of subsidiary Bhartiya Rail Bijlee Company is declared on commercial operation. With this, the commercial capacity of NTPC group will become 67,907.5 MW. Hathway Cable & Datacom : The company has acquired balance 3.64 percent shares of subsidiary Hathway Kokan Crystal, for RS 54,880. Now Hathway Kokan Crystal has become a wholly owned subsidiary of the company. Maruti Suzuki India : The company is expecting an adverse impact on vehicle production in December 2021 in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat (SMG) in Gujarat, owing to a supply constraint of electronic components due to the semiconductor shortage situation. Though the situation is quite dynamic, it is currently estimated that the total vehicle prod...

  The public issue of Rakesh Jhunjhunwala-promoted Star Health and Allied Insurance Company was subscribed 12 percent on the debut on November 30. It received bids for 53.19 lakh equity shares against an IPO size of 4.49 crore equity shares. The offer size was reduced to 4.49 crore equity shares from 8.14 crores earlier after the company mobilized RS 3,217.13 crore from anchor investors at the upper end of the price band of RS 870-900 per share. Retail investors have put in bid for 64 percent of their reserved portion, while the portion set aside for employees was subscribed for 30,672 shares. Non-institutional investors subscribed for 1.38 lakh shares of their reserved portion, while qualified institutional buyers bought 41,648 equity shares of their reserved portion. The company intends to garner RS 7,249.18 crore through its public issue during November 30-December 2. Also Read :  Star Health sets IPO price band at RS 870-900, to raise RS 7,249 crore: Rakesh Jhunjhunwala Th...

  NEW DELHI: Shares of Reliance Capital NSE -4.99 % dropped 5 per cent in early trade Tuesday after the Reserve Bank of India superseded the board of the Anil Ambani-led company and said that it will soon initiate bankruptcy proceedings against the debt-laden non-banking financial company. The counter fell to a low of RS 18.10 on the National Stock Exchange as against the previous close of RS 19.05. The steps taken by the regulator on Monday against the beleaguered NBFC are for payment defaults and serious governance issues. The RBI has appointed former Executive Director, Bank of Maharashtra, Nageswar Rao as the administrator of Reliance Capital. In a statement on Monday, the RBI said, "RBI will also apply to the National Company Law Tribunal for appointing the administrator as the insolvency resolution professional." Reliance Capital too released a statement saying that it would cooperate fully with the central bank-appointed administrator in order to ensure the expeditiou...

 Market researcher NielsenIQ on November 30 said that India’s fast-moving consumer goods (FMCG) industry grew 12.6 percent year-on-year (YoY) in Q2 2021 as against 36.9 percent in the first quarter. The FMCG industry growth in Q2 was urban-led, with the rural consumption slipping in this quarter by 2.9 percent. According to CNBC-TV18, the rural consumption of FMCG products declined 2.9 percent in the second quarter, whereas it had risen nearly 15 percent in Q1 2021. Also Read :  FMCG largely immune to second wave; 36.9% value-added growth in Apr-Jun The price-led growth in the FMCG industry in Q2 stood at 11.3 percent YoY vs 15.5 percent in Q1. Volume-led growth in the second quarter was just 1.2 percent YoY as against 18.5 percent in the first quarter. During the second quarter, modern trade; however, revived; it was up by 17 percent, doubling from Q1’s eight percent, NielsenIQ, which is a part of global measurement and data analytics company Nielsen, said.

  NEW DELHI: Shares of Indian Railway Catering and Tourism Corp (IRCTC NSE 3.51 %) gained 4 per cent in early trade Tuesday after online bus ticketing portal redBus announced its entry into rail ticketing in collaboration with the state-owned company. Shares of IRCTC price rose to a high of RS 808.40 on the National Stock Exchange as against Rs 775.80 at previous close. In a statement Monday, redBus said that it plans to launch a rail ticket booking service called redRail with IRCTC as the authorized partner. redBus is India’s largest online bus ticketing platform. redBus’ statement said that the service would be available on desktop, mobile web and iOS phones and that Android app users of the company could make reservations for bus and rail travel through the same app. Also Read :  Buzzing Stocks | IRCTC, Go Fashion, IRB Infra and others in news today Reports quoted IRCTC Prakash Sangam, CEO, redBus, as saying, "redBus is delighted to partner with IRCTC to offer close to 10 m...

 NEW DELHI: Anand Rathi Wealth, the wealth management arm of Anand Rathi Financial Services, will hit the market with its initial public offer (IPO) on December 2, Thursday. The price band for the offer for sale (OFS) is fixed at RS 530-Rs 550. The OFS consists of up to 1.2 crore shares offered by its existing shareholders and promoters. Anand Rathi Financial Services would be selling up to 92.9 lakh shares, while Anand Rathi, Pradeep Gupta, Supriya Rathi, Feroze Azeez and Rawal Family Trust will be selling up to 3.75 lakh shares each. The IPO will close on December 6. In September 2018, Anand Rathi Wealth had filed its prospectus for an IPO with the market regulator but later dropped its plan to go public, citing difficult market conditions. Also Read :  Buzzing Stocks | IRCTC, Go Fashion, IRB Infra and others in news today It is an AMFI registered mutual fund distributor and has evolved into providing a mix of wealth solutions, financial product distribution and technology s...

 Leading polymer-based mill liners producer Tega Industries Limited initial public offering (IPO) will be open for public subscription on Wednesday, December 1, 2021. The issue will close on Friday, December 3, 2021. The price band for the initial public offering worth RS 619.23 crore has been fixed at RS 443-453 per equity share. Retail investors can place a bid for a lot of 33 equity shares and in multiples thereof for a maximum of 13 lots. Retail investors can invest a minimum of RS 14,949 for a single lot, and their maximum investment would be RS 1,94,337 for 13 lots. The public offer is an offer for sale (OFS) of 1,36,69,478 equity shares by the promoters and an existing shareholder. As a part of the OFS, promoters Madan Mohan Mohanka will offload up to 33.14 lakh equity shares and Manish Mohanka will sell 6.63 lakh equity shares. In addition to this, Wagner, an affiliate of the US-based private equity firm TA Associates, will offload 96.92 lakh equity shares through the OFS. ...

  Coal India shares price edged higher in the morning session on November 30 after the state-owned miner's board approved an interim dividend for FY22 at RS 9 a share of the face value of RS 10 as against RS 7.5 a share announced last year, the company said in an exchange filing. The coal mining and refining corporation has fixed December 7, 2021 as the record date for the dividend payment and the date of payment from December 21, 2021, it added. The Coal India shares was trading at RS 156.65, up RS 2.35, or 1.52 percent at 9.55 am. It touched an intraday high of RS 158.90 and an intraday low of RS 154.25. Also Read :  Coal India shares jump 40% in 6 months on pent-up demand; JP Morgan expects further upside The government will receive around RS 3,667 crore as an interim dividend from Coal India for the financial year 2021-22, a PTI report said. The Maharatna PSU announced a 90 percent interim dividend for FY22, and the total outgo for the purpose will be around RS 5,546 crore...

  In a big relief to Yes Bank, the Supreme Court on November 30 stayed the Uttar Pradesh Police order, freezing the lender’s voting rights in the Dish TV annual general meeting. A bench headed by Justice DY Chandrachud took serious exception to police action in a corporate matter and also stayed the investigation until further orders. “We cannot permit police officers sitting in Gautam Buddha Nagar to freeze voting rights of a shareholder,” the bench said. “The police here did what even the National Company Law Tribunal did not do (freeze shares and voting rights).” Senior Counsel Abhishek Manu Singhvi, representing Yes Bank, essentially questioned the validity of the police notice issued earlier this month, asking the bank to not act on the shares, that is to say not to sell the shares or even carry out voting rights that come attached with the ownership of the shares. Terming the notice as an “extraordinary ingenious misuse of the criminal law”, Singhvi alleged that the notice of...

 Shares of Macrotech Developer (Lodha) rallied 6 per cent to RS 1,516, hitting a new high on the BSE in Tuesday’s intra-day trade, on strong growth plans. The stock of the real estate developer has surpassed its previous high of RS 1,461.75, touched on November 17, 2021. In the past one month, it has zoomed 44 per cent as compared to a 2-per cent decline in the S&P BSE Sensex. Macrotech Developers plans to nearly double its pre-sales to RS 14,000 crore by financial year 2023-24 (FY24) and further grow to RS 20,000 crore by FY26. Lodha intends to grow in under-represented micro markets of Mumbai Metropolitan Region (MMR) and Pune in a capital efficient manner. The company is also exploring plans to enter into the Bangalore market to cater to the needs of even better quality development in a city which is seeing significant creation of technology jobs and wealth creation. Earlier this month, the company raised RS 4,000 crore through qualified institutional placement (QIP) and had...

  Shares of Go Fashion Ltd made a stellar debut on Dalal Street on Tuesday, listing at a premium of 90 per cent compared to the IPO issue price. Go Colors brand operator Go Fashion saw a stellar debut on the bourses on November 30 as the stock listed at a whopping 90 percent premium over the issue price of RS 690 per share. It opened at RS 1,316 on the BSE and at RS 1,310 on the National Stock Exchange. The listing premium was ahead of analysts' expectations (65-75 percent) as well as the grey market price (RS 1,140-1,210 per share). The maiden public offer of the women's bottom-wear brand operator had seen tremendous response from investors as the offer was subscribed 135.46 times. It saw the biggest demand from non-institutional investors, who bid for shares 262.08 times the portion set aside for them. Qualified institutional investors had put in bids 100.73 times the reserved portion, and retail investors subscribed for 49.70 times the reserved portion. Also Read :  Go Fash...

 Ratnamani Metals and Tubes share price gained 7 percent intraday on November 30 on the back of orders worth around RS 300 crore. “Ratnamani Metals and Tubes has received new domestic orders aggregating to RS 297.87 crore from the oil and gas sector to be executed between February 2022 and January 2023,” the company said in the press release. Ratnamani shares suffered a drop after the income tax department carried out a search operation at its registered office, corporate office, branch offices and plants during November 23 to 27. “During the search operations, as a responsible company, all the concerned employees/staff of the company extended their full co-operation to the income tax officials and provided all the information/documents, sought for,” the release said. “We do not foresee any material impact on the company’s current or future business operations.” Also Read :  Ratnamani Metals share gains 4% on bags of RS 98 crore order The company continues to conform to the hi...

 Ahead of its initial public offer (IPO) launch on Tuesday, Zee Business Managing Editor Anil Singhvi advises, risk-taking investors, should apply for Rakesh Jhunjhunwala-backed Star Health and Allied Insurance IPO with a long-term view or else buy the shares post listing of the company. The managing editor lists out the positive and negative of the company. Wherein the negatives are overpowering the positives of the company. In positives, he points out the company has a strong growth track record as well as it is a market leader with strong promoters. On the contrary, Singhvi mentions, the company incurred losses in FY21 and the current year as negatives, he adds, it has expensive valuations, besides, in March 2021, the shares were issued at RS 489 and now IPO at RS 900 rupees. Also Read :  Star Health sets IPO price band at RS 870-900, to raise RS 7,249 crore: Rakesh Jhunjhunwala The three-day IPO of Star Health and Allied Insurance is to begin on November 30, 2021, and will...

  Buzzing Stocks: Check out the companies such as IRCTC, Go Fashion, IRB Infra and others making headlines before the opening bell Go Fashion India: The company will make a debut on the BSE and NSE on November 30. The issue price has been fixed at RS 690 per share IRCTC: The online bus ticketing platform redBus announced foray into rail ticketing with the launch of redRail, a rail ticket booking service in collaboration with IRCTC (Indian Railway Catering and Tourism Corp) as their authorized partner. IRB Infra: The company has executed share subscription agreement between itself , GIC and promoter froup companies, to make preferential allotment up to RS 2,166 crore at RS 211.79 per share to GIC. CL Educate: The company's third plot, held by one of its wholly-owned subsidiaries, in Faridabad, had been sold for RS 3.24 crore. A couple of more real estate parcels are targeted for sale in the next 3-4 quarters. Kwality: The company reported a loss of RS 6.94 crore in Q2FY22 agai...

 Redmi Note 11T 5G launch in India is set to kick off at 12pm on Tuesday. The budget smartphone will be launched in India as a rebadged version of the Redmi Note 11 5G, which was unveiled earlier this year in China. Redmi Note11T 5G price in India is expected to start at RS 16,999 in India, which will be Rs 1,000 more than the Redmi Note 10T 5G. Redmi Note11T 5G price in India As per our previous report, Redmi Note 11T 5G will launch in three variants - 6GB + 64GB, 6GB + 128GB, 8GB + 128GB. The Redmi Note 11T 5G price in India for the base variant will start at RS 16,999. The 6GB + 128GB variant will be priced at RS 17,999, whereas the 8GB + 128GB will be priced at RS 19,999. Also Read :  Redmi Note 11T to Moto G71: List of phones expected to launch soon With that pricing, Xiaomi plans to take on Realme’s Realme 8s, which was launched earlier this year at a starting price of RS 17,999. Redmi Note11T 5G specifications Redmi Note 11T 5G features a 6.6-inch IPS LCD with a Full HD...

  Asian Paints Ltd said it will invest RS 960 crore to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat Asian Paint's Ltd on Monday said it will invest RS 960 crore to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat. The company has signed a memorandum of understanding with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 1.3 lakh KL to 2.5 lakh KL and resins and emulsions from 32,000 MT to 85,000 MT, Asian Paints said in a regulatory filing. Also Read :  Asian Paints share rises 6% on price increase; Nomura says another hike needed The expansion is to be completed in the next 2-3 years at a total investment of RS 960 crore approximately on plant and machinery at the current prevailing prices, it added. "This expansion will be carried out on the existing land owned by the company," the filing said. Shares of the company were trading higher by 0.19 per ...

 Samsung has launched the 35W Power Adapter Duo at RS2,299. This adapter comes with USB Type-C and regular Type-A port that can be used to charge two phones together. The Samsung 35WPower Adapter Duo provides fast charging with USB-C PD (Power Delivery) 3.0 Max 35W and USB-A Max 15W charging. Also Read :  Samsung launches world’s first LPDDR5X RAM built on 14nm fabrication technology The 35WPower Adapter Duo supports a wide range of devices like smartphones, tablets, laptops, wireless chargers and smartwatches - running on both Android as well as iOS. The adapter is available across retail stores, Samsung.com and leading online portals. The USB-C Port in Samsung 35W Power Adapter Duo supports PD 3.0 and “superfast charging through which consumers can charge their Galaxy smartphones in 50% lesser charging time,” said Samsung. The USB-A Port in Samsung 35WPower Adapter supports 15W adaptive fast charging to charge Samsung devices.

  New Delhi : The Centre has informed Lok Sabha on Monday that Reserve Bank of India (RBI) is working out a phased implementation strategy for introduction of Central Bank Digital Currency (CBDC) by examining use cases, to avoid any disruptions. It further said that the RBI moved a proposal in October seeking to amend the Reserve Bank of India Act, 1934 to enhance the scope of the definition of ‘bank note’ to include currency in digital form. On the very first day of the winter session of the Parliament, the government received questions regarding the looming ban of cryptocurrency and the RBI’s plans to introduce an official digital currency. With the decision to ban a few digital coins, the government has also revealed plans to introduce an official digital currency. The Reserve Bank of India (RBI) is expected to issue the digital coin that will be regulated by the central bank. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, will aim to regulate the cr...

  New Delhi: Insurance behemoth LIC will raise its stake in private sector lender Kotak Mahindra Bank NSE 2.85 % to nearly 10 per cent, after receiving grant of approval from the Reserve Bank of India (RBI). Kotak Mahindra Bank (Kotak) said it has received an intimation from LIC's regarding the same. "Kotak  Bank has received an intimation from Life Insurance Corporation of India (LIC) stating that the Reserve Bank of India had granted its approval to LIC, for increasing its holding in the bank up to 9.99 per cent of the paid-up equity share capital of the bank," Kotak said in a regulatory filing on Monday. Also Read :  Kotak Mahindra Bank launches Micro ATMs across India The hike in stake by LIC is subject to RBI's master directions on prior approval for acquisition of shares or voting rights in private sector banks and on ownership in private sector banks. It is also subject to SEBI regulations Foreign Exchange Management Act among others. The approval is valid for ...

  Star Health IPO: Star Health and Alliance Insurance Company, one of the many firms where ace investor Rakesh Jhunjhunwala has stake, is set to open its maiden Initial Public Offering, or IPO, on November 30, Tuesday. The move comes as the craze to float public offers continues to take over Indian companies, given the successful run of most firms in the area. Star Health IPO is the last of its kind to be floated among the 10 more offers that preceded it. These include companies such as online beauty platform Nykaa and One97 Communications, which owns digital payments firm Paytm. Here is a list of xx key things you should know before subscribing to Rakesh Jhunjhunwala-backed Star Health IPO IPO Dates: The Star Health IPO is set to open on November 30, Tuesday and have a three-day bidding process. The offer will close on December 2, Thursday, after the procedure. IPO Price: Star Health and Alliance Company, backed by Rakesh Jhujhunwala, Safecorp Investments India and Westbridge, ...

  Tarsons Product's suffered over 8 percent intraday decline on November 29 on the back of a rush to book profit. The stock traded at RS 765.55, down RS74.45, or 8.86 percent, in the morning hours. It touched an intraday high of RS 928.65 and an intraday low of RS 749.75. The stock extended gains sharply to hit a 20 percent upper circuit on November 26, though the listing gains missed analysts’ expectations due to a steep fall in the equity market. Experts advised holding Tarsons Products for the long term. “It is a leading Indian supplier to the life sciences sector with a strong brand recognition, quality products, and available at reasonable valuation on an absolute basis,” said Likhita Chepa, Senior Research Analyst at CapitalVia Global Research. Also Read :  Tarsons Products shares makes tepid market debut, lists at 5% premium to IPO price On November 26, Pacific Assets Trust Plc acquired 6,14,773 equity shares in the company at RS 751.8 per unit, and First Sentier Invest...

  New Delhi: A bill to cancel the three contentious farm laws that had the farmers up in arms was passed in record time in both houses as parliament's Winter Session started today. The government plans to get it signed by the President by tonight, sources said. Here's your 10-point cheat sheet on this story: The Farm Laws Repeal bill was passed in Lok Sabha within four minutes - it was tabled at 12:06 pm and passed by 12:10 pm amid opposition demands for a discussion. In Rajya Sabha, it was passed after a short discussion. Congress's leader in the house Mallikarjun Kharge said all parties are agreed on the bill and no one is opposed to it. Opposition leaders in the Lok Sabha objected to the lack of discussion, pointing out that a discussion has taken place on the five or six occasions when a law was scrapped. "Modi I (2014-19): Repealing and Amending Bill 2017 was one instance. Six MPs participated in discussion. A fig leaf of democracy then. Some shame. Modi II (2019...

  Shakti Pumps share price rose 19 percent intraday to RS 690.20 on November 29 after the company's board approved the setting up of a subsidiary for electric vehicle business. "The Shakti Pumps board has approved the incorporation of a wholly owned subsidiary to do business in EV motor, EV charger, EV controller, multi-application VFD for automobiles," company said in a release. The board has approved the notice to be sent to shareholders through postal ballot for alteration in object clause of memorandum of association of the company and adoption of new set of articles of association of the company. The company's September quarter net profit rose to RS 27 crore as against RS 22.47 crore in the same quarter last year. Also Read :  TPG Group to invest RS 7,500 crore in Tata Motors’ new electric vehicle subsidiary At 12:06pm, Shakti Pumps (India) was quoting at RS 639.55, up RS 61.80, or 10.70 percent, on the BSE. The share touched its 52-week high RS 910.00 and 52-wee...

  Adani Ports and Special Economic Zone shares price fell nearly 5 percent in the early trade on November 29 after Morgan Stanley Capital International (MSCI) dropped the company from some of its climate Change indices. "We are disappointed by MSCI’s decision to drop Adani Ports and Special Economic Zone (APSEZ) from some of its Climate Change indices," company clarifies in its press release. MSCI will also drop REC and IPCA Laboratories from the index, and on the other hand, add six new companies to the list. Adani Enterprises owns the Carmichael project. Adani Ports became a wholly-owned subsidiary in August 2020 for haulage operations from the Carmichael mine to Adani’s North Queensland Export Terminal (NQXT). Earlier in March, the BRC ownership was transferred to Adani Global Pte. Also Read : Adani Ports share price falls 5% post Q2 earnings The Carmichael mine is expected to produce about 10 million tonnes of coal a year. The Carmichael project has evoked sharp criticism...

  Reliance Industries (RIL) share price rose over 3 percent intraday to RS 2,497.90 on November 29 after its telecom arm increased the prepaid mobile tariff rates by 20 percent. The revised tariff rates will be effective from December 1, Jio said in a press release. The new tariff plans are in line with its commitment to further strengthen a sustainable telecom industry, said Jio. “These plans will provide the best value in the industry. Upholding the Jio promise of providing the best-quality service at the lowest price globally, Jio customers will continue to be the biggest beneficiaries,” it added. Also Read :  Reliance Industries (RIL) to restructure and repurpose gasification assets The revised plans can be opted from all existing touchpoints and channels, Jio added. Brokerage house Motilal Oswal has reiterated buy with a target price of RS 2,900. RIL share, in the last year, has seen strong deleveraging on the back of value unlocking in the consumer business, which has ai...

  Shares in One 97 Communications Ltd, the parent company of Paytm's share NSE 0.20 %, fell as much as 4.6% Monday after the fintech company's net loss for its second quarter widened due to a rise in expenses. At 10:15 am, Paytm's share were trading 0.1% higher at RS 1,782.95. In its first earnings report since going public earlier this month, the company said expenses jumped 37.1% over the year ago to RS 1,599 crore and consolidated net loss increased to RS 474 crore from RS 437 crore a year ago. Its revenue from operations, however, surged 63.6% to RS 1,086 crore for the quarter ended September. Also Read :  Paytm’s earmarks RS 100 crore for marketing campaigns during festive season “Some of the line items in our payment business are not just profit generating but free cash flow generating,” Founder CEO Vijay Shekhar Sharma said in earnings call for investors on Saturday. Paytm, which counts China's Ant Group and Japan's SoftBank Group among its backers, raised $2...

  India’s largest mobile service operator, Reliance Jio's, hiked its rates by 20 per cent on Sunday, joining industry rivals Bharti Airtel and Vodafone Idea (Vi) which went for a price revision earlier last week. Jio’s new rates will come into effect from December 1. In a press release, the telco announced new unlimited plans. “Upholding the promise of providing the best quality service at the lowest price globally, Jio customers will continue to be the biggest beneficiaries,” it said. The move will impact tariffs in all the existing slaps (RS 75-2,399). While Airtel and Vi went for a 25 per cent rise in their entry level slabs, Jio's  hiked the rate in this segment by around 21 per cent. Though companies, especially Airtel and Vi, had long been clamouring for a price revision, they were reluctant to take the first step for the fear of losing customers. Airtel bit the bullet last Monday, and Vi quickly followed suit. Also Read :  Redmi India joins hands with Jio on 5G tri...

  Buzzing Stock's :   Check out the companies  such as BI, One97 Communications, Tarsons Products and others making headlines before the opening bell State Bank of India: Reserve Bank of India has imposed a penalty of RS 1 crore on the bank for contravention of provision One97 Communications (Paytm): Consolidated net loss at RS 472.9 crore against a loss of RS 437.4 crore (YoY) and against RS 382 crore (QoQ). Consolidated revenue was up 63.6 percent (YoY) and up 22 percent (QoQ). Consolidated revenue at RS 1,086.4 crore against RS 663.9 crore (YoY) and against RS 890.8 crore (QoQ). Consolidated EBITDA loss at RS 452.4 crore against loss of RS 445.6 crore (YoY) and against RS 371 crore loss (QoQ). Hero MotoCorp: The company has appointed Rajnish Kumar as an Additional and Independent Director, and Vasudha Dinodia as an Additional and Non-Executive Director. Sterlite Technologies: The company has completed the divestment of minority stake in Metis Eduventures. Aro Grani...

  SINGAPORE: Oil NSE 0.05 % price's slid more than 1% on Friday on concerns that a global supply surplus could swell in the first quarter following a coordinated release of crude reserves among major consumers, led by the United States. Brent crude futures extended declines for a third session, falling 96 cents, or 1.2%, to $81.26 a barrel by 0130 GMT. U.S. West Texas Intermediate (WTI) crude was down $1.35, or 1.7%, at $77.04 a barrel. There was no settlement for WTI on Thursday because of Thanksgiving holiday. U.S. President Joe Biden's administration announced plans on Tuesday to release millions of barrels of oil from strategic reserves in coordination with other large consuming nations, including China, India and Japan, to try to cool prices. Such a release is likely to swell supplies in coming months, an OPEC source said, according to the findings of a panel of experts that advises ministers of the Organization of the Petroleum Exporting Countries (OPEC). The Economic Com...