Sensex Today | Share Market Live Updates: Sensex, Nifty set to open higher; Gift Nifty trading in green
L&T on Friday said it will sell its 100 per cent stake in subsidiary L&T Infrastructure Engineering Ltd (LTIEL) to a French entity.This transaction aligns with the company's commitment to focus on its core businesses and assets."L&T...has announced the divestment of its 100 per cent stake in L&T Infrastructure Engineering Ltd ," the company said in a statement.LTIEL is a provider of standalone engineering consultancy services for the infrastructure sector.The stake will be acquired by STUP Consultants Pvt Ltd, a subsidiary of Assystem SA of France.The transaction, which is subject to meeting certain conditions, is likely to be completed before January 15, next year. (PTI)PB Fintech, the parent company of Policybazaar, disclosed its financial performance for the second quarter of fiscal year 2023-24 (Q2FY24) on November 4.
The company reported a notable reduction in net loss, which amounted to ₹21 crore, marking an 89% decrease from the previous year's net loss of ₹187 crore.Furthermore, PB Fintech experienced a significant 42% year-on-year growth in overall revenue from operations, reaching ₹812 crore. Additionally, the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin improved to 2%, a marked enhancement from the -9% reported in the corresponding period last year.
(Read More)Zomato posted its second straight quarterly profit on Friday, an unexpected result that was driven by higher food delivery orders that the company expects will be even higher in the ongoing festive season.Net profit came in at 360 million rupees ($4.3 million) in the second quarter ended Sept. 30, beating analysts' expectations of a loss of 201.7 million rupees, according to LSEG.
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