Mumbai, May 1 (IANS) India’s stock market activity in April presented a contrasting picture, as strong gains in equities boosted cash market trading, while higher taxes and regulatory tightening weighed on derivatives volumes.Cash market turnover rose 7 per cent during the month, supported by a sharp rebound in equities after the steep correction seen in March.Benchmark indices staged their strongest monthly recovery in over a year, with the Sensex climbing 6.9 per cent and the Nifty advancing…
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Mumbai, April 30 (IANS) State-owned Union Bank of India on Thursday dismissed recent media reports regarding variations in deposits, stating that the claims are based on an unverified letter and contain factual inaccuracies.In a clarification statement, the bank said its financial statements undergo rigorous audit processes and have received unmodified audit opinions, confirming a true and fair view in line with regulatory and accounting standards.The bank said that it continues to focus on depo…
New Delhi, April 28 (IANS) Leading automaker Maruti Suzuki India Ltd on Tuesday reported more than 6 per cent decline in consolidated net profit for Q4 FY26 on year-on-year basis, even as revenue increased, according to its exchange filing.The automaker posted a consolidated net profit of Rs 3,659 crore for the January-March quarter, down 6.4 per cent year-on-year from Rs 3,911 crore, and lower by 5.7 per cent quarter-on-quarter from Rs 3,879 crore.In terms of revenue, the company saw a rise of …
New Delhi, April 28 (IANS) The government on Tuesday said the recent oil and gas discovery in Libya by Indian oil marketing companies (OMCs) — Oil India Limited (OIL), and Indian Oil Corporation Limited (IOCL) — with local operators reflects the growing global footprint of the country’s energy firms and their expanding presence in overseas assets.In a post on social media platform X, the Ministry of Petroleum and Natural Gas (MoPNG) congratulated OIL and IOCL, which were part of an Indian co…
New Delhi, April 27 (IANS) India’s major drugmaker Sun Pharmaceutical Industries on Monday announced that it will acquire New York-listed Organon & Co in an all-cash deal valued at $11.75 billion, its biggest overseas acquisition to date.Under the agreement, the pharmaceutical firm will acquire 100 per cent of Organon’s outstanding shares at $14 per share, translating into an enterprise valuation of $11.75 billion and an equity value of around $3.99 billion, the company said in an exchan…
Mumbai, April 24 (IANS) The Securities and Exchange Board of India (SEBI)on Friday proposed a revised framework for calculating the net worth requirement of stock brokers, seeking to align capital norms more closely with the scale and risk profile of their operations.In a consultation paper, the regulator said the existing methodology — which ties net worth to 10 per cent of the average daily client cash balances retained by brokers — has lost relevance following the implementation of the upst…
Mumbai, April 21 (IANS) Cyient DLM Limited on Tuesday posted a net profit of Rs 22.4 crore for the quarter ended March 31 (Q4 FY26), down 27.7 per cent from Rs 31 crore reported in the same period previous financial year (Q4 FY25).The electronic manufacturing services (EMS) firm’s revenue also fell 13.8 per cent year-on-year (YoY) to Rs 369 crore compared to Rs 428 crore in Q4 FY25, as per its regulatory filing.Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 25 pe…
Mumbai, April 21 (IANS) Mahindra EPC Irrigation Limited, a subsidiary of Mahindra and Mahindra Limited, on Tuesday reported a 23.36 per cent decline in its fourth quarter (Q4 FY26) profit.The company posted a consolidated net profit of Rs 4.79 crore for Q4 FY26, down from Rs 6.25 crore in the same quarter previous financial year (Q4 FY25), according to its stock exchange filing.Profit before tax also saw a sharp fall of 64.36 per cent to Rs 3.36 crore, compared with Rs 6.36 crore in Q4 FY25.Howe…
Mumbai, April 21 (IANS) The Indian wealth and asset management firm 360 ONE WAM Limited on Tuesday reported an 11.8 per cent quarter-on-quarter (QoQ) decline in its consolidated net profit for the fourth quarter (Q4) of FY26.The company posted a net profit of Rs 289 crore for the quarter, compared to Rs 327 crore in the previous quarter (Q3 FY26), as per its regulatory filing.Revenue also declined 5.6 per cent on a quarter-on-quarter basis to Rs 1,115 crore from Rs 1,181 crore, while EBITDA fell…
Mumbai, April 20 (IANS) The Securities and Exchange Board of India (SEBI) has drastically slashed the minimum investment requirement for individual investors in social impact funds to Rs 1,000 in order to lower the barrier for entry from the Rs 2 lakh level that was in place until now, with the aim of increasing retail participation on the Social Stock Exchange (SSE).The reduced threshold of Rs 1,000 allows small investors to participate in SIFs, which are Alternative Investment Funds (AIFs) foc…