Corporate

Earnings Review: JSW Steel's EBITDA slips QoQ on lower steel prices

Friday, May 24 MUMBAI – A 9% quarter-on-quarter fall in prices at which steel was sold in the domestic market weighed on consolidated earnings of JSW Steel Ltd in the March quarter. One of the largest steel-makers in India, by volume, JSW Steel saw its operating profit made on every tn of steel sold...

Bajaj Finserv says insurance JVs fully provided for IL&FS exposure

Wednesday, May 22 By T. Bijoy Idicheriah MUMBAI - Bajaj Finserv's insurance joint ventures Bajaj Allianz Life Insurance Co Ltd and Bajaj Allianz General Insurance Co Ltd have fully provided for their investment exposures to Infrastructure Leasing & Financial Services' group entities, S. Sreenivasan, chief financial officer of Bajaj Finserv, told Cogencis. Bajaj Finserv's insurance arms have...

NALCO cuts prices of aluminium products by more than 3% from Tue

Wednesday, May 22 By Nikita Periwal MUMBAI – National Aluminium Co Ltd has cut prices of its aluminium products by more than 3% with effect from Tuesday, trade sources told Cogencis. Last week, the company had raised prices of its products. With this price cut, rates of the company's products are down more than...

Newgen Software to transform business into annuity model, says CMD

Wednesday, May 22 By Leroy Leo NEW DELHI - Newgen Software Technologies Ltd plans to transform itself into an annuity-like business over the next two-three years to reduce dependence from the cyclicality of product licence sales, Chairman and Managing Director Diwakar Nigam said. "I can't give you confirmed numbers but possibly in two-three...

Dr Reddy's Bachupally FTO-3 unit gets clearance from German body

Tuesday, May 21 By Chiranjivi Chakraborty MUMBAI - Dr Reddy's Laboratories Ltd's key drug manufacturing facility FTO-3 in Bachupally, Telangana, has cleared the German drug regulator's audit carried out on May 1, documents accessed by Cogencis showed. Germany's Regierung von Oberbayern has certified that the company's facility conforms with the good manufacturing practices of...

Vedanta cuts prices of aluminium ingots after 2 hikes in a row

Monday, May 20 By Nikita Periwal MUMBAI – Vedanta Ltd has cut the prices of aluminium ingots by 1.5% with effect from Saturday, trade sources told Cogencis. This price hikes comes after the company raised prices twice last week.   Prices of the company's products are down nearly 4% for the quarter started April. The...

NALCO rolls back most of the price cut taken earlier this month

Monday, May 20 By Nikita Periwal MUMBAI – National Aluminium Co Ltd has rolled back most of the price cut it had announced for ingots earlier this month. With effect from Friday, the company has raised prices of its products by nearly 4%, trade sources told Cogencis. With this price hike, rates of...

Hindalco raises prices of aluminium products third time this week

Friday, May 17 By Nikita Periwal MUMBAI – Hindalco Industries Ltd has raised the prices of its aluminium products for the third time this week, trade sources told Cogencis. With effect from today, the company has raised prices by nearly 2%. Today's price hike follows the ones taken on Tuesday and Wednesday. With the...

INTERVIEW:Ujjivan Small Fin Bk MD says successor to aid digital drive

Friday, May 17 By T. Bijoy Idicheriah MUMBAI - About two months ago, Ujjivan Small Finance Bank Managing Director and Chief Executive Officer Samit Ghosh had indicated that a new chief for the bank would be selected, with the Reserve Bank of India's approval, in two months. Today, Nitin Chugh, the digital banking head...

Earnings Review: IOC Jan-Mar PAT up 17% YoY on jump in other income

Friday, May 17 NEW DELHI - Despite an operationally subdued quarter, Indian Oil Corp Ltd's net profit for the three months ended March rose 16.9% on year to 60.99 bln rupees due to a significant jump in other income at 10.59 bln rupees, against 2.48 bln rupees a year ago. IOC's net profit...


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