COST Financial News

Also Read: Jana Small Finance Bank IPO: Lender files papers with SEBI for ₹575-crore issue Shri Techtex IPO share will get listed on the NSE SME on Monday, August 7. If you applied for the shares, here's how you can check allotment status of Shri Techtex IPO. If you have applied for the Shri Techtex IPO, you can check your Shri Techtex IPO allotment status immediately on the website of the IPO registrar, Link Intime India Private Ltd.

GoAir must pay a compensation of Rs 10,000 and reimburse additional flight charges amounting to Rs 13,956 to a flyer for the abrupt cancellation of a flight to the Maldives a week before the scheduled trip. As per a ToI report, the commission supported the complainant's argument, stating that the cancellation caused mental agony and inconvenience, despite booking the tickets well in advance for a hassle-free family holiday. The complainant, DV Manohar (69), a resident of Whisper Valley, had booked round-trip tickets for Rs 77,408 through GoAir for a holiday trip to the Maldives.

NITI Aayog has proposed incentives in the form of royalty and tax benefits along with a production linked incentive scheme for processing and refining of critical minerals used in lithium-ion batteries as well as their extraction through recycling to manufacture key battery components in India and boost domestic value addition. “Policy should focus on scaling up lithium-ion battery (LIB) recycling infrastructure with production linked incentives to complement mining and extraction efforts of critical minerals,” it said, “This will aid in promoting environmentally sustainable waste management practices, reuse and disposal,” the Aayog said in its report on ‘Mine to market: critical minerals supply chain for domestic value addition in lithium-ion battery manufacturing.' The Aayog has further proposed to promote R&D for earth abundant alternatives to critical minerals used in ACC batteries, supporting lab to market commercialisation of products, providing startup incubators and technology industrialisation centres, and facilitating demonstration projects.

₹335 crore in the financial year ended March against ₹212 crore net profit in the previous fiscal, helped by reduced operating costs and higher prices. The company said it has reported its highest fiscal revenue of ₹900 crore in FY23, projecting a growth of about 1.8 times over the previous year. The company’s Ebitda grew over 205% on a YoY basis to approximately ₹700 crore.

Essar Oil and Gas Exploration and Production Limited plans to consolidate its position as one of the largest unconventional hydrocarbon players at Ranigunj coal bed methane (CBM) block in West Bengal, a spokesperson of the company said on Monday. The company had already invested around Rs 5,000 crore in exploration and commercial development of the Ranigunj CBM block where nearly 350 wells have been commissioned. «The company is working towards opening up new frontiers, one of them being shale gas exploration.

Power Mech Projects Ltd, an industrial services and construction company providing services in power and infrastructure sector, has secured a mine development and operation (MDO) project from the Steel Authority of India Ltd. (SAIL) for an estimated value of ₹30,438 crore over the contract period. The company will develop the Tasra open cast project, located in Jharia Coal Fields in Dhanbad, Jharkhand.

In a report released by the US Faster Payments Council and Ripple, the transformative potential of crypto-enabled payments has been thoroughly examined. The report, titled «Transforming the Way Money Moves,» offers a comprehensive analysis of the current state of cryptocurrencies in the payment ecosystem, highlighting key trends, challenges, and opportunities.

Read more of our recent coverage of the Ukraine war The war in Ukraine has reconfigured global flows of oil and gas. Less visible has been its impact on another supply chain: that of the so-called rare gases—neon, krypton and xenon—which are used in everything from chipmaking to medicine to space propulsion. Russia and Ukraine have long been big suppliers, accounting for about 40-50% of the global supply of neon before the conflict, and 25-30% of xenon and krypton, according to John Raquet of Spiritus Consulting, an industrial-gas specialist.

V Vaidyanathan, MD & CEO, IDFC First Bank, says: “We feel that our operating profit will continue to outpace our loan book growth. Our loan book guidance is 22-24%. But our profit will outpace it because the operating leverage is kicking in.

By Naomi Rovnick and Dhara Ranasinghe

By Leika Kihara

Siemens Ltd stock rose 4.5% on the National Stock Exchange in Monday’s early trade to touch a new 52-week high of ₹4,068.85. This positive reaction comes after most of its minority shareholders voted against selling its low-voltage motors and geared motors business to Siemens Large Drives India, a subsidiary of Siemens AG. Analysts point out that the proposal was not lucrative for minority shareholders.

Sandip Sabharwal, asksandipsabharwal.com, says in the case of Delta, “if the government is hell-bent on killing the industry, then it makes no sense for us to hold that stock. That is my logic. With this kind of taxation that has been proposed, how can these businesses sustain? It is impossible.

(Reuters) — Goldman Sachs (NYSE:GS) on Sunday revised up its global oil demand forecast for the year while sticking to its 12-month Brent price projection of $93 per barrel as higher realized inventories offset the demand boost from a less pessimistic growth outlook.

Marico share price fell over 2% on Monday after the homegrown FMCG major reported Q1 results. Marico shares fell as much as 2.38% to ₹559.65 apiece. Marico Ltd on Friday reported 15% rise in its consolidated net profit to ₹436 crore for the first quarter ended June 30, 2023 as compared to a net profit of ₹377 crore in the year-ago quarter.

Also read: Aussie sailor, dog rescued after 2 months at sea, survives on a diet of ‘raw fish and rainwater’ Toco answered a number of questions in a video that was posted last year, in which he said “had a vague dream of becoming an animal" ever since he was a child. He chose to become a collie due to the negligible size difference between humans and the breed.

₹842 against the previous close of ₹856.50 and fell 3.6 per cent to ₹825.30 soon on BSE. After market hours on Friday (July 28), SBI Card reported its consolidated net profit fell 5 per cent to ₹593 crore, compared to ₹626.9 crore in the corresponding period last year. Revenue from operations increased 24 per cent to ₹4,046 crore, compared to ₹3,263 crore in the year-ago period while interest income increased by 30 per cent at ₹1,804 crore in Q1FY24, compared to ₹1,387 crore in Q1FY23.

Work has begun on the largest dam removal project in U.S. history

Maruti Suzuki India Ltd, the largest passenger vehicle manufacturer in the country, is set to announce its Q1 results today. The auto major is likely to see its net profit more than double in the first quarter of FY24 as compared to the same period last year. During Q1FY24, the automobile industry overall witnessed higher realization led by price hikes and improved volume driven by a strong order book, new product launches, and increased demand for personal mobility.

Infant formula company Bubs’ China sales deteriorated further over the past quarter as excess stock and an ongoing dispute with its biggest daigou partner, AZ Global, dented demand.

Samajwadi Party leader Swami Prasad Maurya said if the BJP looks for a temple in every mosque then people would start searching for a Buddhist monastery in every temple. «The Badrinath and Kedarnath temples in Uttarakhand, the Jagannath Temple in Puri, the Ayyappa Temple in Kerala and the Vithoba temple in Pandharpur (Maharashtra) were Buddhist monasteries. These Buddhist monasteries were demolished and then Hindu religious shrines came up there.