Mining operators face setback as SC permits retrospective state levies
Piramal Enterprises stock tumbles 10% post June quarter results
MSMEs to get Rs 15,000-crore subsidy to boost recycling, efficiency
iPhones boost Apple’s India operations surge to Rs 2 trillion in FY24
Apple’s operations in India saw a significant increase in value to over Rs 2 trillion in FY24, a notable rise from Rs 1.15 trillion in the previous year. This growth was driven by a surge in iPhone production and the domestic sales of MacBooks, iMacs, iPads, Watches, and AirPods, according to a report by The Economic Times.
According to officials, Apple has demonstrated the most rapid growth in production and exports among all companies in India over the past five decades. This has positioned the Cupertino-based tech giant as the largest global value chain (GVC) within the country. Apple is also the first GVC in India to swiftly transfer parts of its supply chain away from China, the report said. Read more
Ashoka Buildcon Q1 net soars 148%, order book at Rs 10K cr; stock trades up
Ashoka Buildcon stock touched a high of Rs 244 – up 4.2 per cent in intra-day deals on Wednesday after the company announced its Q1 results. The stock, however, soon pared gains.
At 11 AM, the stock was up 0.5 per cent at Rs 235.50 on the back of 1.10 lakh shares traded at the counter as against the two-week average volume of around 1.50 lakh shares on the BSE. In comparison, the BSE Sensex was up 0.1 per cent or 62 points at 79,019. Read more
SJVN shares zoom 9% on stellar Q1FY25 earnings; power sales grow 238% YoY
SJVN’s stock surged up to 8.68 per cent at Rs 148.85 a piece on the BSE in Wednesday’s intraday trade. The stock price jumped after the company on Tuesday reported its April-June quarter of financial year 2024-25 (Q1FY25).
State-owned hydropower company SJVN reported a 31 per cent increase in consolidated net profit, reaching Rs 357.09 crore for the June quarter, due to higher income. This compares to a net profit of Rs 271.75 crore for the same period in the previous financial year. Read more
Hero MotoCorp shares fall over 4%, despite strong Q1FY25 results; Details
Hindustan Zinc dips 4% as Vedanta board okays 2.6% stake sale via OFS
Share of Hindustan Zinc (HZL) dipped 4 per cent to Rs 556.35 on the BSE in Wednesday’s intra-day trade after the parent firm Vedanta informed exchanges that its board approved the sale of up to 110 million shares or 2.6 per cent equity in the zinc maker via an offer for sale (OFS).
In an exchange filing, Vedanta said the duly authorized committee of directors of Vedanta at its meeting held Tuesday on August 13, 2024, has approved the sale of upto 110 million equity shares of HZL, representing 2.60 per cent of the issued and paid-up equity share capital of HZL, by way of an offer for sale through the stock exchange mechanism. Read more
SpiceJet Promoter Ajay Singh to dilute over 10% stake to raise Rs 3,000 cr
Nykaa shares jump 6% after strong Q1 show; net profits grow 152% YoY
Shares of FSN E-Commerce Ventures soared as much as 5.76 per cent at Rs 197.35 per share on the BSE in Wednesday’s intraday trade. The stock price jumped after the company on Tuesday reported a strong financial performance in its April-June quarter of financial year 2024-25 (Q1FY25).
FSN E-Commerce Ventures, the operator of beauty and personal care brand Nykaa, reported a net profit of Rs 13.6 crore for the quarter ending June 30, 2024, representing a 152 per cent increase from Rs 5.4 crore in the same period last year. The company’s operating revenue for the quarter was Rs 1,746 crore, up 23 per cent from Rs 1,422 crore in the corresponding quarter of the previous year. Read more
