S&P Ratings affirmed the ratings of Adani Ports and Special Economic Zone Ltd. and Adani Electricity Mumbai Ltd. while revising its outlook to 'Stable' from 'Negative', due to strong business fundamentals and robust cash flows.
Sony's India unit, Culver Max Entertainment Ltd., sent a termination letter to Zee, scrapping the deal citing the terms were not met. Investors will be jittery now, given that when the first report of Sony considering that deal prompted a 10% slide for the shares of the Indian broadcasters
ICICI Bank Ltd.'s third-quarter net profit grew 24% on higher other income and lower provisions, meeting estimates.
The private sector lender posted a profit of Rs 10,271 crore for the October–December period, compared with Rs 8,312 crore in the year-ago period.
HFCL Ltd. bagged a purchase order worth Rs 623 crore from a domestic telecom service provider.
The company received an order to supply 5G telecom networking equipment and the order needs to be executed by December 2024, an exchange filing said on Friday.
Hindustan Unilever Ltd.’s third-quarter profit rose but missed analysts' estimates on account of weak demand, especially in the hinterlands.
The consolidated net profit of India’s largest consumer goods maker increased 1.1% over the preceding year to Rs 2,508 crore in the quarter ended December, according to an exchange filing. That compares with the Rs 2,664.5 crore consensus estimate of analysts tracked by Bloomberg.
India’s benchmark stock indices hit its biggest intraday fall in over a year on Wednesday due to panic selling in the shares of index heavyweight HDFC Bank Ltd.
The NSE Nifty 50 closed 460 points or 2.09%, down at 21,571.95, while the S&P BSE Sensex fell 1,628 points or 2.23%, to end at 71,500.76.
The Nifty 50 recorded its biggest fall since June 16, 2022, while the Sensex logged its biggest fall since Aug. 29, 2022.
Sun Pharmaceutical Industries Ltd.'s definitive merger agreement to fully acquire Taro Pharmaceutical Industries Ltd. is a good proposition that adds value for the Indian drugmaker, according to analysts.
Sun Pharma, which owns 78.48% of Taro currently, has agreed to acquire all of the outstanding ordinary shares of Taro not currently held by it.
IndusInd Bank Ltd.’s third-quarter profit rose, in line with analysts' estimates.
The private lender's net profit increased 17.2% year-on-year to Rs 2,301 crore in the October–December quarter, according to an exchange filing. Analysts polled by Bloomberg estimated a net profit of Rs 2,277 crore for the quarter.
IndusInd Bank Ltd.’s third-quarter profit rose, in line with analysts' estimates, due to rise in income on investments.
The private lender's net profit increased 17.2% year-on-year to Rs 2,301 crore in the October–December quarter, according to an exchange filing. Analysts polled by Bloomberg estimated a net profit of Rs 2,277 crore for the quarter.
Asian Paints Ltd. has reported a rise in net profit for the third quarter, surpassing analysts' estimates.
It reported a 34.5% increase in consolidated net profit at Rs 1,968 crore, as against Rs 1,353 crore for the corresponding period last year, according to its exchange filing issued on Wednesday.