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PFC Reported Q4 Results Out, Net Profit Surges, Asset quality improves

PFC Reported Q4 Results Out, Net Profit Surges, Asset quality improves

15 May 2024

Power Finance Corporation Ltd, The Maharatna company has reported its Q4 FY 2023-24 results today in the live market, The company has reported a surge of 22% in net profits to Rs.4125.45 crores from Rs.3377.20 crores in Q4 FY 2022-23. The board has also announced a dividend of Rs.2.50 per share. Q4 Performance of PFC …

SEBI Allows LIC To Have 3 More Years To Meet The MPS Norms

SEBI Allows LIC To Have 3 More Years To Meet The MPS Norms

15 May 2024

The Securities and Exchange Board of India (SEBI) has extended the deadline for Life Insurance Corporation of India (LIC) to achieve a 10% public shareholding, providing the insurance giant with an additional three years. Under Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957, companies are mandated to have a minimum of 10% public shareholding …

TCS Study Reveals Increased Use of AI To Grow Revenue

TCS Study Reveals Increased Use of AI To Grow Revenue

15 May 2024

A new study by Tata Consultancy Services (TCS) crafted a compelling picture of Artificial Intelligence (AI) adoption within businesses. The comprehensive report, titled “TCS AI for Business Study,” reveals a strong focus on leveraging AI for revenue generation and innovation. Overwhelming Shift Towards AI-Driven Growth The study highlights a significant trend: more than 86% of …

Cipla Promoter Group Sells Stake Worth Rs 2,637 Crore

Cipla Promoter Group Sells Stake Worth Rs 2,637 Crore

15 May 2024

On Wednesday, May 15, 2024, Cipla Ltd’s promoter group, including Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma Private Limited, sold over 2.04 lakh shares, or 2.53% of the company’s equity, through block deals. The company clarified in a stock exchange filing that the purpose of the sale was “to create liquidity for specific …

Optiemus Infracom Invests in Subsidiary BigTech to Bolster Glass Manufacturing Capabilities

Optiemus Infracom Invests in Subsidiary BigTech to Bolster Glass Manufacturing Capabilities

15 May 2024

On May 14, 2024, Optiemus Infracom Limited, a growing player in the Indian infrastructure sector, announced a strategic investment in its Joint Venture cum Subsidiary company, Bharat Innovative Glass Technologies Private Limited (BigTech). This move highlights Optiemus’ commitment to advancing its presence in the high-growth mobile consumer electronics market. Supporting BigTech’s Growth Trajectory The Board …

Exide Industries Boosts Investment in Exide Energy Solutions for Lithium-Ion Battery Production

Exide Industries Boosts Investment in Exide Energy Solutions for Lithium-Ion Battery Production

15 May 2024

On May 14, 2024, Exide Industries Limited (EIL), a leading player in the Indian battery industry, announced a significant investment in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL). This strategic move notes EIL’s commitment to expanding its footprint in the burgeoning lithium-ion battery market and supporting India’s electric vehicle (EV) revolution. Fueling Growth in …

Market Movers: Here Are Today’s High-Volume Buzzers!

Market Movers: Here Are Today’s High-Volume Buzzers!

15 May 2024

Domestic indices, after commencing today’s trading session on a positive note, abruptly experienced a significant decline, affected by losses in the auto, banking, and FMCG sectors. Conversely, broader indices outperformed the main indices by a considerable margin. At 11:00 am, the BSE Sensex declined 0.21% reaching a level of 72,950. The Nifty 50 index fell …

These 3 Stocks from BSE 500 Jumped Over 5% Today; Do You Own Any?

These 3 Stocks from BSE 500 Jumped Over 5% Today; Do You Own Any?

15 May 2024

The benchmark index S&P BSE 500 opened today at 32,779.35 and made its day high at 32,867.53, and it is trading in green today, up by around 0.10%. From the same space, these are the top 3 companies that outperformed the benchmark index and were up by more than 5% today. ITI Ltd Shares of …

IndiaMART Extends Investment in Livekeeping, a Cloud-Based Accounting Solution

IndiaMART Extends Investment in Livekeeping, a Cloud-Based Accounting Solution

15 May 2024

IndiaMART InterMESH Limited, a leading B2B e-commerce platform in India, announced a strategic expansion of its holdings in Livekeeping Technologies Private Limited. This move underscores IndiaMART’s commitment to providing a comprehensive suite of Software as a Service (SaaS) solutions to empower businesses. Strengthening Position in the B2B SaaS Market Through this acquisition of an additional …

Intellect Designs Arena’s IntellectAI Unveils Purple Fabric at London Bootcamp

Intellect Designs Arena’s IntellectAI Unveils Purple Fabric at London Bootcamp

15 May 2024

IntellectAI, the WealthTech and InsurTech arm of Intellect Design Arena, recently hosted a groundbreaking AI boot camp in London. This exclusive event brought together senior leaders from leading financial institutions for an immersive experience with IntellectAI’s revolutionary PurpleFabric platform. Purple Fabric: Enhancing Enterprise Intelligence The PurpleFabric platform represents a paradigm shift towards enterprise-connected intelligence. This …

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