Business

31 Jul

Adani Energy flourish $1 billion through QIP issue

Priyanka RoyBusiness, News

The company had fixed the floor price of Rs 1,027 per share, which could allow a maximum discount of 5 per cent on the floor price.Adani Energy Solutions, the power transmission arm of Adani Group, has increased $1 billion (over Rs 8,300 crore) through a Qualified Institutional Placement issue.The issue was oversubscribed 3 times with a demand of about Rs 26,000 crore, the largest transaction in India's energy sector. The QIP issue price closed at Rs 1135 per share as against Rs 976 per share. Global investors including GQG, QIP, ADIA and some new US names participated in the issue.…

30 Jul

HDFC Bank shares decrease 11% from one-year high

Priyanka RoyBusiness, News

HDFC Bank share price: The country's largest private lender reported profit of Rs 16,174.75 crore in Q1 FY25, compared to Rs 11,951.77 crore in the year-ago period. However, net profit for the quarter end June 30 this year was lapse 2.04 percent sequentially from Rs 16,511.85 crore in the prior quarter (Q4 FY24).Shares of HDFC Bank Ltd slipped 1.21 percent to a low of Rs 1,598.20 in Monday's trade from its previous close of Rs 1,617.80. Considering today's low, it has fallen 10.81 percent from its 52-week high of Rs 1,791.90, a level seen earlier this month on July 3.The…

29 Jul

Topcem Cement, a leading cement brand of Northeast India, today, organized a blood donation camp in Guwahati

Business CorrespondentBusiness

Topcem Cement, a leading cement brand of Northeast India, today, organized a blood donation camp in Guwahati. The blood donation camp this year was organized in association with Marwari Hospitals,Guwahati.The camp was inaugurated by Dr. Anil Kapur, President, Sales & Marketing, Topcem Cement at a press conference in Guwahati. The camp witnessed active participation of Topcem Cement employees and partners. It wouldn’t be an exaggeration to say that all those who were a part of this drive felt great as by donating one unit of blood, each one would be saving three lives somewhere on this earth and someone will…

29 Jul

Shares of UltraTech Cement rise due to acquisition of India Cements; Check out the deal outline, industry impact, stock price outlook

Priyanka RoyBusiness, News

Share price of UltraTech Cement rose by over one per cent in early trade on Monday after the company announced the acquisition of 32.72% stake in India Cements. Meanwhile, share price of India Cements also rose by about 3% on BSE.Aditya Birla Group-owned UltraTech Cement said its board of directors has approved the acquisition of 32.72% equity stake of promoters and their associates in India Cements at ₹390 per share for ₹3,954 crore. This price is 4.1% higher than the closing price of India Cements shares of ₹374.60 last Friday.In June 2024, UltraTech had made a financial investment in South…

27 Jul

Bandhan Bank sees 22% growth, boosts retail focus and digital expansion

Business BureauBusiness

Bandhan Bank has reported a notable 22% increase in total business, reaching Rs.2.59 lakh crore for Q1 FY25. The bank’s deposit base surged by 23% year-on-year to Rs.1.33 lakh crore, with retail deposits comprising nearly 69% of this total. The CASA ratio improved to 33.4%, reflecting strong liquidity, while the loan book grew by 22% to Rs.1.26 lakh crore. Ratan Kumar Kesh, MD & CEO of Bandhan Bank, emphasized the bank's commitment to growth and stability. “Our first quarter results showcase our robust performance and the trust our customers place in us. We are committed to enhancing our technology and…

27 Jul

Anil and Sonam Kapoor light up Johnson’s® Baby campaign with heartfelt moments

Business BureauBusiness

Johnson’s® Baby has launched its latest campaign, “Protection* ka Promise Pehle Din Se,” starring Bollywood’s beloved father-daughter duo, Anil Kapoor and Sonam Kapoor. This charming campaign, brought to life by DDB Mudra, emphasizes the brand’s commitment to protecting a baby’s sensitive skin from the very first day with its gentle, baby-safe products. The film features a playful and touching interaction between the Kapooor pair. Anil Kapoor, stepping into the role of a concerned grandfather, questions whether a baby’s skin retains moisture after a bath. His daughter Sonam Kapoor, in a nod to her father's iconic ‘Mr. India’ role, responds with…

27 Jul

DLF Q1 results: Net profit inflation 23% to Rs 646 crore

Priyanka RoyBusiness, News

India's largest realty firm DLF Ltd on July 25 reported a 23 percent year-on-year rise in its net profit to Rs 646 crore for the quarter ending June 30, 2024. The company had earned a net profit of Rs 526.11 crore in the same period a year ago.The company received new sales bookings worth Rs 6,404 crore, a growth of 214 percent year-on-year and healthy operating cash flow of Rs 1,849 crore, up 133 percent year-on-year, a regulatory filing said.DLF's consolidated revenue also rose by nearly 14 percent to Rs 1,729.82 crore in the April-June 2024 quarter, compared to Rs…

26 Jul

Glenmark Foundation, C-NES and Darrang district launch boat clinic to revolutionize maternal and child health in Assam

Business BureauBusiness

Glenmark Foundation, in collaboration with the Centre for North East Studies & Policy Research (C-NES) and Darrang District Administration, has launched an innovative boat clinic program aimed at transforming maternal and child health in Assam’s remote riverine communities. This groundbreaking initiative seeks to address the challenges of healthcare access in flood-affected areas by providing a mobile unit equipped with a laboratory and pharmacy. The boat clinic will deliver essential services such as immunizations, prenatal care, and health education, targeting the most vulnerable populations, particularly women and children. “By launching this Boat Clinic, we are bridging a crucial gap in healthcare…

26 Jul

Promoters, PEs to pay retro tax on OFS flourish

Priyanka RoyBusiness, News

Promoters and private equity (PE) investors who failed to pay capital gains tax on selling their shares through offer for sale (OFS) in initial public offerings (IPOs) will have to deposit the amount following amendments in tax laws.Taxpayers, in some cases, were not paying capital gains tax citing the absence of an express provision to determine the fair market value (FMV) of the equity shares as these were originally unlisted, although the securities on them were Transaction Tax (STT) was paid. , The new rules will be applicable retrospectively from February 18, 2018. Thus, all sales after this date will…

26 Jul

S.N. Bhuyan Centenary Lecture: A Tribute to Legal Luminary Suchendra Nath Bhuyan

Business BureauBusiness

On the 3rd of August, 2024, the illustrious Srimanta Sankardeva International Auditorium at Kalakshetra, Guwahati, shall play host to a significant event that celebrates both legal heritage and scholarly discourse—the S. N. Bhuyan Centenary Lecture. This event, orchestrated by the S.N. Bhuyan Memorial Foundation, stands as a testament to the enduring legacy of Advocate General late Suchendra Nath Bhuyan, one of Assam's most distinguished legal minds. The event is scheduled to commence at 4:30 PM, drawing together an assembly of legal scholars, jurists, and admirers of the late Bhuyan’s contributions. The oration will be delivered by the Hon’ble Mr. Justice…