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IndiaTV Business: Google News Feed: Digest for May 31, 2023

IndiaTV Business: Google News Feed

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Metals company Manaksia Limited has reported a consolidated net profit of Rs 38.1 crore in the January-March quarter mainly on account of higher income, showing an increase of around 18 percent from the last quarter. The company clocked a net profit of Rs 31.8 crore in the quarter ended December 31, 2022.
Hi-Tech Pipes, a leading pipe manufacturer and supplier, has reported a jump of around 40 percent year-on-year in net profit at Rs 15.84 crore in the fourth quarter. The net profit in the corresponding period in the previous fiscal was Rs 11.21 crore.
UPI transactions: PwC India report on Sunday suggested that UPI transactions are likely to reach 1 billion per day by 2026-27, accounting for 90 per cent of the retail digital payments in India. The Indian digital payments market saw steady growth at a CAGR of 50 per cent (volume-wise) and is expected to reach 411 billion transactions in FY 2026-27 from 103 billion in FY 2022-23, the report further said.
Tax collection in India: While India is not the richest country in the world, the tax collection is one of the highest and the income tax rate should be reduced to 25 per cent from around 40 per cent at present, eminent economist Surjit Bhalla said.
Construction engineering major Salasar Techno Engineering has released its fourth-quarter earnings. According to an exchange filing by the New Delhi-based company, its consolidated net profit in the January-March period more than doubled on a year-on-year basis led by its engineering, procurement and construction (EPC) projects.
Indian markets have been on a roll and are now close to their all-time high which were made on December 1, 2022, on a closing basis and an intra-day basis. These levels were 63,583.07 and 63,284.19 points on BSE Sensex and 18,887.60 points and 18,812.50 points on Nifty. The closing levels on Friday, May 26, were at 62,501.69 points and 18,499.35 points, respectively.

Sensex jumps 507.22 points to 63,008.91 in early trade

Monday 29 May 2023 04:11 AM UTC+00
Mumbai: Domestic indices BSE Sensex and NSE Nifty 50 opened in the green on Monday amid positive trends in the US markets and continuous foreign fund inflows. The 30-share BSE Sensex climbed 507.22 points to 63,008.91 in early trade. The broader NSE Nifty gained 141.85 points to 18,641.20.
The Central Bureau of Investigation (CBI) has registered a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons for allegedly trying to cheat the government in the procurement of Hawk Aircraft from Rolls Royce, UK and its associate group companies, including Rolls Royce Turbomeca Limited.
Air India has informed that they are hiring 550 cabin crew members, 50 pilots every month, consolidating airline operations and growing substantially, airline CEO Campbell Wilson informed on Monday.
Apollo Micro Systems Limited has announced the January-March quarter results for the financial year 2022-23. The stock of the aerospace and defence company was recently in focus as it was sub-divided in the 10:1 ratio. It has yielded a multi-bagger return to its investors.
Metals company Manaksia Limited has reported a consolidated net profit of Rs 38.1 crore in the January-March quarter mainly on account of higher income, showing an increase of around 18 percent from the last quarter. The company clocked a net profit of Rs 31.8 crore in the quarter ended December 31, 2022.
Hi-Tech Pipes, a leading pipe manufacturer and supplier, has reported a jump of around 40 percent year-on-year in net profit at Rs 15.84 crore in the fourth quarter. The net profit in the corresponding period in the previous fiscal was Rs 11.21 crore.
UPI transactions: PwC India report on Sunday suggested that UPI transactions are likely to reach 1 billion per day by 2026-27, accounting for 90 per cent of the retail digital payments in India. The Indian digital payments market saw steady growth at a CAGR of 50 per cent (volume-wise) and is expected to reach 411 billion transactions in FY 2026-27 from 103 billion in FY 2022-23, the report further said.
Tax collection in India: While India is not the richest country in the world, the tax collection is one of the highest and the income tax rate should be reduced to 25 per cent from around 40 per cent at present, eminent economist Surjit Bhalla said.
Construction engineering major Salasar Techno Engineering has released its fourth-quarter earnings. According to an exchange filing by the New Delhi-based company, its consolidated net profit in the January-March period more than doubled on a year-on-year basis led by its engineering, procurement and construction (EPC) projects.
Indian markets have been on a roll and are now close to their all-time high which were made on December 1, 2022, on a closing basis and an intra-day basis. These levels were 63,583.07 and 63,284.19 points on BSE Sensex and 18,887.60 points and 18,812.50 points on Nifty. The closing levels on Friday, May 26, were at 62,501.69 points and 18,499.35 points, respectively.

Sensex jumps 507.22 points to 63,008.91 in early trade

Monday 29 May 2023 04:11 AM UTC+00
Mumbai: Domestic indices BSE Sensex and NSE Nifty 50 opened in the green on Monday amid positive trends in the US markets and continuous foreign fund inflows. The 30-share BSE Sensex climbed 507.22 points to 63,008.91 in early trade. The broader NSE Nifty gained 141.85 points to 18,641.20.
The Central Bureau of Investigation (CBI) has registered a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons for allegedly trying to cheat the government in the procurement of Hawk Aircraft from Rolls Royce, UK and its associate group companies, including Rolls Royce Turbomeca Limited.
Air India has informed that they are hiring 550 cabin crew members, 50 pilots every month, consolidating airline operations and growing substantially, airline CEO Campbell Wilson informed on Monday.
Apollo Micro Systems Limited has announced the January-March quarter results for the financial year 2022-23. The stock of the aerospace and defence company was recently in focus as it was sub-divided in the 10:1 ratio. It has yielded a multi-bagger return to its investors.
Hi-Tech Pipes, a leading pipe manufacturer and supplier, has reported a jump of around 40 percent year-on-year in net profit at Rs 15.84 crore in the fourth quarter. The net profit in the corresponding period in the previous fiscal was Rs 11.21 crore.
UPI transactions: PwC India report on Sunday suggested that UPI transactions are likely to reach 1 billion per day by 2026-27, accounting for 90 per cent of the retail digital payments in India. The Indian digital payments market saw steady growth at a CAGR of 50 per cent (volume-wise) and is expected to reach 411 billion transactions in FY 2026-27 from 103 billion in FY 2022-23, the report further said.
Tax collection in India: While India is not the richest country in the world, the tax collection is one of the highest and the income tax rate should be reduced to 25 per cent from around 40 per cent at present, eminent economist Surjit Bhalla said.
Construction engineering major Salasar Techno Engineering has released its fourth-quarter earnings. According to an exchange filing by the New Delhi-based company, its consolidated net profit in the January-March period more than doubled on a year-on-year basis led by its engineering, procurement and construction (EPC) projects.
Indian markets have been on a roll and are now close to their all-time high which were made on December 1, 2022, on a closing basis and an intra-day basis. These levels were 63,583.07 and 63,284.19 points on BSE Sensex and 18,887.60 points and 18,812.50 points on Nifty. The closing levels on Friday, May 26, were at 62,501.69 points and 18,499.35 points, respectively.

Sensex jumps 507.22 points to 63,008.91 in early trade

Monday 29 May 2023 04:11 AM UTC+00
Mumbai: Domestic indices BSE Sensex and NSE Nifty 50 opened in the green on Monday amid positive trends in the US markets and continuous foreign fund inflows. The 30-share BSE Sensex climbed 507.22 points to 63,008.91 in early trade. The broader NSE Nifty gained 141.85 points to 18,641.20.
The Central Bureau of Investigation (CBI) has registered a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons for allegedly trying to cheat the government in the procurement of Hawk Aircraft from Rolls Royce, UK and its associate group companies, including Rolls Royce Turbomeca Limited.
Air India has informed that they are hiring 550 cabin crew members, 50 pilots every month, consolidating airline operations and growing substantially, airline CEO Campbell Wilson informed on Monday.
Apollo Micro Systems Limited has announced the January-March quarter results for the financial year 2022-23. The stock of the aerospace and defence company was recently in focus as it was sub-divided in the 10:1 ratio. It has yielded a multi-bagger return to its investors.
Stock Markets update: Equity benchmark indices maintained their winning streak for the fourth day running on Tuesday, helped by continuous foreign fund inflows. The 30-share BSE Sensex climbed 131.32 points to 62,977.70 in early trade. The NSE Nifty advanced 49.6 points to 18,648.25.
Construction engineering major Salasar Techno Engineering has released its fourth-quarter earnings. According to an exchange filing by the New Delhi-based company, its consolidated net profit in the January-March period more than doubled on a year-on-year basis led by its engineering, procurement and construction (EPC) projects.
Indian markets have been on a roll and are now close to their all-time high which were made on December 1, 2022, on a closing basis and an intra-day basis. These levels were 63,583.07 and 63,284.19 points on BSE Sensex and 18,887.60 points and 18,812.50 points on Nifty. The closing levels on Friday, May 26, were at 62,501.69 points and 18,499.35 points, respectively.

Sensex jumps 507.22 points to 63,008.91 in early trade

Monday 29 May 2023 04:11 AM UTC+00
Mumbai: Domestic indices BSE Sensex and NSE Nifty 50 opened in the green on Monday amid positive trends in the US markets and continuous foreign fund inflows. The 30-share BSE Sensex climbed 507.22 points to 63,008.91 in early trade. The broader NSE Nifty gained 141.85 points to 18,641.20.
The Central Bureau of Investigation (CBI) has registered a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons for allegedly trying to cheat the government in the procurement of Hawk Aircraft from Rolls Royce, UK and its associate group companies, including Rolls Royce Turbomeca Limited.
Air India has informed that they are hiring 550 cabin crew members, 50 pilots every month, consolidating airline operations and growing substantially, airline CEO Campbell Wilson informed on Monday.
Apollo Micro Systems Limited has announced the January-March quarter results for the financial year 2022-23. The stock of the aerospace and defence company was recently in focus as it was sub-divided in the 10:1 ratio. It has yielded a multi-bagger return to its investors.
Stock Markets update: Equity benchmark indices maintained their winning streak for the fourth day running on Tuesday, helped by continuous foreign fund inflows. The 30-share BSE Sensex climbed 131.32 points to 62,977.70 in early trade. The NSE Nifty advanced 49.6 points to 18,648.25.
On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, said the Reserve Bank's annual report released on Tuesday. It, however, added that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in the global financial system could pose downside risks to growth.
India's growth momentum: The Reserve Bank on Tuesday said that India's growth momentum is likely to continue in 2023-24 even as it made a case for pushing structural reforms to deal with the geopolitical developments and also to achieve sustained growth in the medium-term.
Battery tech startup Log9 Materials on Tuesday announced the launch of India's fastest-charging two-wheeler commercial electric vehicle (CEV) in partnership with Hyderabad-headquartered EV firm Quantum Energy.

Sensex jumps 507.22 points to 63,008.91 in early trade

Monday 29 May 2023 04:11 AM UTC+00
Mumbai: Domestic indices BSE Sensex and NSE Nifty 50 opened in the green on Monday amid positive trends in the US markets and continuous foreign fund inflows. The 30-share BSE Sensex climbed 507.22 points to 63,008.91 in early trade. The broader NSE Nifty gained 141.85 points to 18,641.20.
The Central Bureau of Investigation (CBI) has registered a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons for allegedly trying to cheat the government in the procurement of Hawk Aircraft from Rolls Royce, UK and its associate group companies, including Rolls Royce Turbomeca Limited.
Air India has informed that they are hiring 550 cabin crew members, 50 pilots every month, consolidating airline operations and growing substantially, airline CEO Campbell Wilson informed on Monday.
Apollo Micro Systems Limited has announced the January-March quarter results for the financial year 2022-23. The stock of the aerospace and defence company was recently in focus as it was sub-divided in the 10:1 ratio. It has yielded a multi-bagger return to its investors.
Stock Markets update: Equity benchmark indices maintained their winning streak for the fourth day running on Tuesday, helped by continuous foreign fund inflows. The 30-share BSE Sensex climbed 131.32 points to 62,977.70 in early trade. The NSE Nifty advanced 49.6 points to 18,648.25.
On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, said the Reserve Bank's annual report released on Tuesday. It, however, added that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in the global financial system could pose downside risks to growth.
India's growth momentum: The Reserve Bank on Tuesday said that India's growth momentum is likely to continue in 2023-24 even as it made a case for pushing structural reforms to deal with the geopolitical developments and also to achieve sustained growth in the medium-term.
Battery tech startup Log9 Materials on Tuesday announced the launch of India's fastest-charging two-wheeler commercial electric vehicle (CEV) in partnership with Hyderabad-headquartered EV firm Quantum Energy.
BCL Industries shares in focus today as the company has announced twin corporate action in its Q4 results. According to a regulatory filing by the Fast-Moving Consumer Goods (FMCG) sector company, the board has approved a dividend and sub-division of shares.
The government plans to set up smaller refineries, Petroleum Minister Hardeep Puri said on Tuesday.
The Central Bureau of Investigation (CBI) has registered a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons for allegedly trying to cheat the government in the procurement of Hawk Aircraft from Rolls Royce, UK and its associate group companies, including Rolls Royce Turbomeca Limited.
Air India has informed that they are hiring 550 cabin crew members, 50 pilots every month, consolidating airline operations and growing substantially, airline CEO Campbell Wilson informed on Monday.
Apollo Micro Systems Limited has announced the January-March quarter results for the financial year 2022-23. The stock of the aerospace and defence company was recently in focus as it was sub-divided in the 10:1 ratio. It has yielded a multi-bagger return to its investors.
Stock Markets update: Equity benchmark indices maintained their winning streak for the fourth day running on Tuesday, helped by continuous foreign fund inflows. The 30-share BSE Sensex climbed 131.32 points to 62,977.70 in early trade. The NSE Nifty advanced 49.6 points to 18,648.25.
On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, said the Reserve Bank's annual report released on Tuesday. It, however, added that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in the global financial system could pose downside risks to growth.
India's growth momentum: The Reserve Bank on Tuesday said that India's growth momentum is likely to continue in 2023-24 even as it made a case for pushing structural reforms to deal with the geopolitical developments and also to achieve sustained growth in the medium-term.
Battery tech startup Log9 Materials on Tuesday announced the launch of India's fastest-charging two-wheeler commercial electric vehicle (CEV) in partnership with Hyderabad-headquartered EV firm Quantum Energy.
BCL Industries shares in focus today as the company has announced twin corporate action in its Q4 results. According to a regulatory filing by the Fast-Moving Consumer Goods (FMCG) sector company, the board has approved a dividend and sub-division of shares.
The government plans to set up smaller refineries, Petroleum Minister Hardeep Puri said on Tuesday.
Railways' premier production unit, the Rail Coach Factory, Kapurthala, failed to deliver even one Vande Bharat train in 2022-23 against a projected target of 32, documents have revealed, with the unit blaming its suppliers for not providing electrical components for the train sets.

Sensex jumps 507.22 points to 63,008.91 in early trade

Monday 29 May 2023 04:11 AM UTC+00
Mumbai: Domestic indices BSE Sensex and NSE Nifty 50 opened in the green on Monday amid positive trends in the US markets and continuous foreign fund inflows. The 30-share BSE Sensex climbed 507.22 points to 63,008.91 in early trade. The broader NSE Nifty gained 141.85 points to 18,641.20.
The Central Bureau of Investigation (CBI) has registered a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons for allegedly trying to cheat the government in the procurement of Hawk Aircraft from Rolls Royce, UK and its associate group companies, including Rolls Royce Turbomeca Limited.
Air India has informed that they are hiring 550 cabin crew members, 50 pilots every month, consolidating airline operations and growing substantially, airline CEO Campbell Wilson informed on Monday.
Apollo Micro Systems Limited has announced the January-March quarter results for the financial year 2022-23. The stock of the aerospace and defence company was recently in focus as it was sub-divided in the 10:1 ratio. It has yielded a multi-bagger return to its investors.
Stock Markets update: Equity benchmark indices maintained their winning streak for the fourth day running on Tuesday, helped by continuous foreign fund inflows. The 30-share BSE Sensex climbed 131.32 points to 62,977.70 in early trade. The NSE Nifty advanced 49.6 points to 18,648.25.
On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, said the Reserve Bank's annual report released on Tuesday. It, however, added that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in the global financial system could pose downside risks to growth.
India's growth momentum: The Reserve Bank on Tuesday said that India's growth momentum is likely to continue in 2023-24 even as it made a case for pushing structural reforms to deal with the geopolitical developments and also to achieve sustained growth in the medium-term.
Battery tech startup Log9 Materials on Tuesday announced the launch of India's fastest-charging two-wheeler commercial electric vehicle (CEV) in partnership with Hyderabad-headquartered EV firm Quantum Energy.
BCL Industries shares in focus today as the company has announced twin corporate action in its Q4 results. According to a regulatory filing by the Fast-Moving Consumer Goods (FMCG) sector company, the board has approved a dividend and sub-division of shares.
The government plans to set up smaller refineries, Petroleum Minister Hardeep Puri said on Tuesday.

Sensex jumps 507.22 points to 63,008.91 in early trade

Monday 29 May 2023 04:11 AM UTC+00
Mumbai: Domestic indices BSE Sensex and NSE Nifty 50 opened in the green on Monday amid positive trends in the US markets and continuous foreign fund inflows. The 30-share BSE Sensex climbed 507.22 points to 63,008.91 in early trade. The broader NSE Nifty gained 141.85 points to 18,641.20.
The Central Bureau of Investigation (CBI) has registered a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons for allegedly trying to cheat the government in the procurement of Hawk Aircraft from Rolls Royce, UK and its associate group companies, including Rolls Royce Turbomeca Limited.
Air India has informed that they are hiring 550 cabin crew members, 50 pilots every month, consolidating airline operations and growing substantially, airline CEO Campbell Wilson informed on Monday.
Apollo Micro Systems Limited has announced the January-March quarter results for the financial year 2022-23. The stock of the aerospace and defence company was recently in focus as it was sub-divided in the 10:1 ratio. It has yielded a multi-bagger return to its investors.
Stock Markets update: Equity benchmark indices maintained their winning streak for the fourth day running on Tuesday, helped by continuous foreign fund inflows. The 30-share BSE Sensex climbed 131.32 points to 62,977.70 in early trade. The NSE Nifty advanced 49.6 points to 18,648.25.
On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, said the Reserve Bank's annual report released on Tuesday. It, however, added that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in the global financial system could pose downside risks to growth.
India's growth momentum: The Reserve Bank on Tuesday said that India's growth momentum is likely to continue in 2023-24 even as it made a case for pushing structural reforms to deal with the geopolitical developments and also to achieve sustained growth in the medium-term.
Battery tech startup Log9 Materials on Tuesday announced the launch of India's fastest-charging two-wheeler commercial electric vehicle (CEV) in partnership with Hyderabad-headquartered EV firm Quantum Energy.
BCL Industries shares in focus today as the company has announced twin corporate action in its Q4 results. According to a regulatory filing by the Fast-Moving Consumer Goods (FMCG) sector company, the board has approved a dividend and sub-division of shares.
The government plans to set up smaller refineries, Petroleum Minister Hardeep Puri said on Tuesday.
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