Commercial vehicle maker Tata Motors Ltd (formerly TML Commercial Vehicles Ltd) on Wednesday (May 13) reported a 33.8% rise in consolidated net profit for Q4 in its commercial vehicles (CV) business at ₹1,793 crore compared with ₹1,340 crore in the year-ago period. Profit before tax (before exceptional items) rose 29% to ₹2,400 crore. Revenue increased…
On September 25, 2023, before the opening of markets, JM Financial (Manager to the Offer) submitted to stock exchanges a copy of the public announcement for the attention of the public shareholders of REL in relation to an open offer to be made by the Burman Group for the acquisition of 90,042,541 shares at Rs…
Chip giant Nvidia became the first company ever to cross a staggering $5.5 trillion market valuation on Wednesday, as investor frenzy around artificial intelligence (AI) pushed its shares more than 2% higher to a fresh all-time high of $227.84 on Nasdaq. The rally came alongside a high-profile geopolitical moment for the chipmaker. Nvidia CEO Jensen…
Swiggy said on Wednesday that proposed changes to its board nomination framework are part of a broader effort to eventually qualify as an Indian Owned and Controlled Company (IOCC) under India’s foreign exchange regulations. In a regulatory filing, the food delivery and quick commerce company said institutional investors had sought additional clarity on the rationale…
Bharti Airtel has reappointed its founder Sunil Bharti Mittal as the chairman of the board for five years till September 30, 2031, a company filing said on Wednesday. Mittal’s current term as the Chairman was due to expire on September 30. “We wish to inform you that on the recommendation of HR & Nomination Committee,…
Information technology solutions provider Redington Ltd on Wednesday (May 13) reported a consolidated net profit of ₹391 crore for the fourth quarter, compared with ₹666 crore in the corresponding quarter last year, marking a decline of approximately 41.3% year-on-year. Net profit for the quarter, excluding exceptional items, stood at ₹467 crore, while net profit margin…
Infrastructure company PNC Infratech Ltd on Wednesday (May 13) said its joint venture with SPS Constructions India Private Ltd has emerged as the L1 (first lowest) bidder for a ₹571.81 crore engineering, procurement and construction (EPC) project awarded by UP State Bridge Corporation Ltd. The project involves the construction of a four-lane major bridge over…
EPC player in power transmission infrastructure, Bajel Projects Ltd, on Wednesday (May 13), said it has secured a major EPC order for a 400kV transmission line project under the Bellary–Davanagere RE evacuation scheme, awarded by Power Grid Corporation of India Ltd through its SPV, Bellary Davanagere Power Transmission Ltd. The contract falls in the ₹200–₹300…
Zydus Lifesciences Limited said its subsidiary Zydus Worldwide DMCC has entered into a definitive agreement to acquire all outstanding shares of US-based Assertio Holdings, Inc. in an all-cash tender offer valued at about $166.4 million. Under the agreement, Zydus will acquire Assertio at $23.50 per share in cash through its wholly owned acquisition subsidiary Zara…
The benchmark Nifty 50 index snapped its four-session losing streak on Wednesday, May 13, rising 33 points to close at 23,412, although volatility persisted through the session amid uncertainty over the market’s near-term direction. After Tuesday’s sharp sell-off, the index opened on a weak note but witnessed a strong intraday recovery during the first half…
