Updates Financial News

Rajshree Sugars & Chemicals Ltd.(up 2.30%), Kothari Sugars & Chemicals Ltd.(up 1.75%), Bannari Amman Sugars Ltd.(up 0.78%), Triveni Engineering & Industries Ltd.(up 0.34%), Mawana Sugars Ltd.(up 0.27%), EID Parry(India)Ltd.(up 0.22%) and Uttam Sugar Mills Ltd.(up 0.08%) stood among the top gainers. DCM Shriram Industries Ltd.(down 2.47%), Ponni Sugars(Erode)Ltd.(down 1.53%), Simbhaoli Sugars Ltd.(down 1.39%), Avadh Sugar & Energy Ltd.(down 1.27%), KCP Sugar & Industries Corporation Ltd.(down 0.97%), Magadh Sugar & Energy Ltd.(down 0.94%), Bajaj Hindusthan Sugar Ltd.(down 0.90%), Balrampur Chini Mills Ltd.(down 0.84%), Dalmia Bharat Sugar and Industries Ltd.(down 0.38%) and Dhampur Sugar Mills Ltd.(down 0.38%) were among the top losers of the day.

Shares of Macrotech Developers Ltd.(up 6.69 per cent), Swan Energy Ltd.(up 3.75 per cent), Brigade Enterprises Ltd.(up 3.09 per cent), Phoenix Mills Ltd.(up 2.3 per cent) and Sobha Ltd.(up 1.58 per cent) ended the day as top gainers in the pack. On the other hand, Oberoi Realty Ltd.(down 0.49 per cent) finished as the top losers of the day.

₹129.90 apiece. The stock commenced its upward momentum in the preceding trading session, surging over 2.50%, following the release of the bank's Q3FY24 business update on January 10. In the current month so far, the shares are up 14.5% The public sector lender reported impressive figures for the December quarter, with its total business improving 9.90% YoY to ₹12,76,389 crore as compared to ₹11,61,441 crore in the same period of last year.

Wipro on Friday, January 12, reported a 1.8 per cent quarter-on-quarter (QoQ) increase in its net income to ₹2,690 crore ($323.9 million) for the third quarter of the current financial year (Q3FY24). However, its revenue from operations declined year-on-year (YoY) and QoQ and profit also fell year-on-year. “In a seasonally soft quarter, deal booking momentum remained strong.

Wipro announced its September-December quarter results for fiscal 2023-24 (Q3FY24) today, reporting a consolidated net profit of ₹2,694 crore, a mere 1% QoQ jump, while showing a 12% decline on a year-on-year (YoY) basis. The revenues of Wipro came in at ₹22,205 crore in Q3, indicating a 4.4% decrease compared to the revenue of ₹23,229 crore reported in the corresponding period last year. Sequentially, revenue also saw a 1.4% drop.

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Michael Cohen, former attorney and fixer for Donald Trump, admitted to unwittingly using artificial intelligence to fabricate legal citations in a court filing. This revelation surfaces amidst Cohen's ongoing legal entanglements and his role as a potential witness against Trump in various legal proceedings.

Godrej Consumer Products said in a stock exchange filing on Friday. Also Read: Currency headwinds to spoil Godrej Consumer Products' Dec quarter show As per IndAS 29, all amounts need to be restated into the measuring unit current at the end of the reporting period by applying a general price index. As the Argentinian economy is facing hyperinflationary pressures, accounting regulations require the YTD Statement of Profit and Loss to be translated at the closing rate for presentation in Consolidated Financial Statements, it added.

Shriram Subramanium, Founder & MD, InGovern, says “Polycab is very, very clear that they are not the company, they would have even yesterday said that we have nothing to hide. But that is not what they have said. They have said they have not received a notice. So they are not denying that there was a raid. They are just saying that they have not received a notice, which could be true. So, from that perspective, the Income Tax Department may not have sent a notice yet, but has put out a press release which I would think is a travesty of justice from a procedural perspective.” What is happening with Polycab because clearly the stock markets have been giving the stock quite a punishment and perhaps rightly so. If we are looking at the procedure that has been followed by the IT department of not sending a notice and asking for clarifications from the company first, is the procedure as per the norm? Shriram Subramanium: I would think not. At the end of the day, the income tax department by putting out a press release on 9th, that too late in the evening, saying that there is a wires and cables company on which unaccounted cash has been discovered etc. etc., is doing a disservice to any company for that matter.

₹329.00 apiece on the BSE. However, IKIO Lighting shares are still trading 16% below its listing price on the stock exchanges. IKIO Lighting shares made a stock market debut on June 16, 2023, with the stock getting listed at ₹391 on BSE, a premium of 37.19% to the issue price of ₹285 per share.

Cost of Living LIVE Updates January 12: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Punjab National Bank(up 1.27 per cent), Bandhan Bank Ltd.(up 0.93 per cent), ICICI Bank Ltd.(up 0.92 per cent), State Bank of India(up 0.88 per cent) and IDFC First Bank Ltd.(up 0.7 per cent) were among the top gainers. Axis Bank Ltd.(down 0.6 per cent) and Au Small Finance Bank Ltd.(down 0.2 per cent) were the top losers on the index.

The NSE Nifty index traded 161.96 points up at 21809.15, while BSE Sensex was up 606.71 points at 72327.89 as of 10:40AM(IST)on January 12. In the Nifty index, Infosys Ltd.(up 7.21 per cent), Tech Mahindra Ltd.(up 4.60 per cent), Wipro Ltd.(up 4.37 per cent), LTIMindtree Ltd.(up 3.90 per cent) and Tata Consultancy Services Ltd.(up 3.77 per cent) were among the top gainers.

Infosys and Tata Consultancy Services, Dalal Street investors’ attention will shift to HCLTech and Wipro, who will release their quarterly numbers later today. Brushing off the seasonality factor, HCLTech is expected to report strong earnings for the December quarter, while Wipro may continue to disappoint the market. If we look at the performance of HCLTech and Wipro stocks in the last quarter, then the former has rallied nearly 19% and the latter about 16%. Entering into the new year, HCLTech shares are still holding on to gains, whereas the frenzy fizzled out in Wipro as the stock has corrected about 5% so far this month. Whether Wipro shares will correct further or HCLTech shares sustain the upward momentum depends upon their earnings scorecard.

Google will host more real money and daily fantasy sports games in India on its Play Store apps, including game types and operators “not covered by an existing framework”, the company said. “We are pleased that this new approach will provide new business opportunities to developers globally while continuing to prioritise user safety. It also enables developers currently participating in RMG (real money games) pilots in India,” the company said in a blog.

₹17,840 crore. Atal Setu is the longest bridge in India and also the longest sea bridge in the country. The bridge is about 21.8 km long six-lane bridge having about 16.5 km length over sea and about 5.5 km on the land.

Polycab India, a leading electrical wires and cables manufacturer to ₹4,300 apiece from an earlier target price of ₹5,809 apiece to factor in the uncertainties due to the IT raid, by cutting the target P/E to 30x December 25E from 38x September. The company shares were in the spotlight over the last few sessions amid circulating reports of tax evasion allegations against the company.

Q3 results today: Despite speculations about a global slowdown, Indian companies reported strong quarterly results in the April to June 2023 quarter. The performance improved further in the July to September 2023 quarter after a better-than-expected recovery in the Indian economy. The Indian economy has managed to keep inflation under control throughout the year, which is expected to fuel industrial and other demands in India.

₹30,500 crore during his visit to Maharashtra.He will inaugurate the Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu built at a cost of about ₹17,840 crore. Atal Setu is the longest bridge in India and also the longest sea bridge in the country.Join us to read the LIVE updates on PM Modi's visit to Mumbai on 12 January:The maximum speed limit for four-wheelers on the Mumbai Trans Harbour Link (MTHL) will be 100 kmph.The speed will be restricted to 40 kmph on the ascent and descent of the bridge.There will be no entry for vehicles like motorcycles, mopeds, three-wheelers, autos, tractors, animal-drawn vehicles and slow-moving vehicles.PM Modi will also lay the foundation stone of the underground road tunnel connecting Eastern Freeway's Orange Gate to Marine Drive.

Catch Live Market Updates here On Thursday, the equity benchmark indices ended the volatile session with marginal gains. The Sensex rose 63.47 points, or 0.09%, to close at 71,721.18, while the Nifty 50 settled 28.50 points, or 0.13%, higher at 21,647.20. Nifty 50 formed a small negative candle on the daily chart with minor lower shadow.