Tomato Price Delhi, Mumbai: The government reduced tomato prices to Rs 50 per kg in Delhi-NCR and Mumbai to ease consumer burden. Initiated by Union Minister Pralhad Joshi, the project commenced with mobile van sales and cooperative efforts, following high price spikes due to adverse weather. The initiative aims to stabilize prices and protect consumer interests.
Puravankara Limited, based in Bengaluru, reported a net profit of Rs 15 crore for Q1FY25, reversing a Rs 17 crore loss from the prior year. Revenue surged 101% to Rs 676 crore. Significant customer collections and land acquisitions were achieved in key areas like MMR, Goa, and Bengaluru.
The IPO comprises a fresh equity issue of Rs 617.69 crore and an offer for sale (OFS) of up to 1.42 crore shares. Under the OFS, Ramneek Sehgal, Ramneek Sehgal and Sons HUF, Avneet Luthra, Mohinder Pal Sing Sehgal, Parmjit Sehgal, Simran Sehgal and Kanwaldeep Singh Luthra will be offloading their part stakes.
Bank of Baroda maintained a 3.18% net interest margin for the June quarter, consistent with the previous year. CEO Debadatta Chand indicated optimism about achieving 12-14% credit growth for FY25, backed by solid performance in retail, agriculture, and MSME segments. The bank is managing fresh slippages effectively with enhanced collection efforts.
Paras Healthcare filed DRHP with SEBI for an IPO aiming to raise ₹700 crore - ₹900 crore. The funds will be used for debt repayment and investments. The hospital chain operates eight facilities across North India, specializing in various medical areas like cardiac sciences and oncology.
Students Against Discrimination staged nationwide rallies last month that ended in a police crackdown and the deaths of at least 206 people, according to an AFP count of police and hospital data. The group's leadership were among thousands picked up in the police dragnet that followed some of the worst unrest of Prime Minister Sheikh Hasina's 15-year tenure.
The company has lowered the pricing for the public offer to attract more investors. At the upper end of the price band, the post-issue market valuation comes to around Rs 33,522 crore.
Facilitated by the CEPA, he observed that the South Asian country's gems and jewellery, pharmaceuticals and fruits and vegetables exports to UAE rose massively, recording a growth rate of 64 per cent, 39 per cent and 35 per cent respectively.
Sokudo Electric India aimed to open 100 new flagship stores across India by December 2024. The first phase involved launching 20 stores within six months in Delhi, Uttar Pradesh, and Maharashtra. This expansion was intended to strengthen market presence and account for 60% of their sales by the end of 2024.
Kerala Chief Minister Pinarayi Vijayan focused on rescue and rehabilitation efforts after Wayanad's landslides. A high-level meeting emphasized the need for rescuing stranded individuals and providing urgent support. The Indian Army, NDRF, and other forces are on-site, ensuring swift recovery and safety. Over 200 deaths have been reported, with rescue teams working tirelessly.
Responding to supplementaries during the Question Hour, the minister emphasised that the passenger data shared through DigiYatra App is not stored in any centralised system, saying the government is committed to protecting data privacy. While the DigiYatra app is slowly gaining traction, there have been concerns expressed in various quarters about privacy of passenger data.
Titan faced a tepid first quarter amid fewer wedding days, skyrocketing gold prices, and regional competition. Analysts predict a 6% year-on-year increase in net sales for April-June 2024, with a marginal 1% decline in net profit. The jewelry segment's growth was impacted by a surge in gold prices and higher market competition.
The Allahabad High Court deemed the Krishna Janmabhoomi-Shahi Idgah dispute cases in Mathura maintainable. The court rejected an application from the Shahi Eidgah Masjid and scheduled the next hearing for August 12th. Advocate Vishnu Shankar Jain indicated plans to file a caveat in the Supreme Court, should the mosque appeal.
Dabur Q1 Results: The company had posted a net profit of Rs 463.88 crore in the year-ago period. The revenue from operations for the reported quarter saw a jump of 7% to Rs 3,349.11 crore. It was Rs 3,130.47 crore in the corresponding quarter of the previous financial year. The stock was trading at Rs 645.05 on the NSE, a gain of 1.47% over Wednesday’s closing price.
So, as things stand today, if the factors continue there is no one-off in this Q1, it will depend on factors like the usual margin determinants, like commodities, forex, like discounts in the market because of volume we have some operating leverage or deleverage, it will depend on those factors. Some commodities are hardening, like copper and aluminium.
Olympic medalist Swapnil kusale family, education, job, railway link
A dispute between the Raj Bhavan and Chief Minister Siddaramaiah's office over the MUDA site allotment scam has escalated into a major confrontation. The Chief Minister faces accusations of facilitating the allotment of 14 plots to his wife, Parvathi, in Mysuru, violating regulations. The Governor, Thawar Chand Gehlot, has received a complaint seeking permission to prosecute Siddaramaiah and has been dissatisfied with the government's explanations.
India's national table tennis coach, Massimo Constantini, has emphasized the importance of Indian paddlers to excel at the Olympics. He believes that Indian paddlers need to be on top of their game, test themselves in difficult situations, and learn to handle pressure and perform under demanding circumstances. Constantini is pleased with the performance of Manika Batra and Sreeja Akula at the Paris Games, where India had two singles players competing in the pre-quarterfinals.
Sun Pharma Q1 Results: Sun Pharma reported a 40% increase in consolidated net profit to Rs 2,836 crore, surpassing estimates of Rs 2,638 crore. Revenue rose 6% YoY to Rs 12,653 crore. EBITDA grew 8% YoY to Rs 3,608 crore with margins at 28.5%. India formulation sales reached Rs 4,144 crore, up 16%, constituting 33.1% of total sales.
Mumbai has experienced a significant surge in office space demand, with gross absorption doubling in Q2 2024 compared to Q2 2023. The city, along with Bengaluru, led office demand in Q2 2024, accounting for 52% of India’s total leasing activities. Flex space operators leased 2.6 million sq ft of office spaces across the top six cities, with Mumbai being a significant contributor.
Swapnil Kusale won India's first-ever bronze medal in the men's 50m rifle 3P event at the Paris Olympics 2024. Kusale also made headlines by making it to the final in his Olympic debut. Manu Bhaker secured bronze in the women's 10m air pistol, reflecting a comeback from her Tokyo setback.
UPI was introduced in Paris to offer convenience for Indian tourists at the Eiffel Tower, yet the system is not in use. Visitors and staff reported no information or setup for QR-code payments, showing a clear gap between the intended service and actual availability, reflecting Europe's slow adoption of such payment methods.
The policy focuses on several key areas such as awareness and education, skill building, promotion of industry and startups, partnerships and collaborations for capacity building. The policy was also reviewed by the Indian Institute of Science, which is the anchor institute for the state’s K-tech centre of excellence in cyber security.
The Supreme Court ruled that states can now sub-classify Scheduled Castes (SCs) and Scheduled Tribes (STs) to grant quotas within these groups, aiming to better support more disadvantaged sub-groups. This landmark decision, delivered by a seven-judge bench led by Chief Justice D.Y. Chandrachud, overturns a 2004 ruling that had deemed such sub-classifications unconstitutional.