Investors on Dalal Street witnessed a sharp surge in wealth as benchmark indices Sensex and Nifty rallied nearly 3% in early trade, adding ₹11 lakh crore to the market capitalization. The Sensex jumped over 2,000 points, while the Nifty neared the 24,700 mark, driven by positive global and domestic developments. The combined market value of…
The Ministry of Corporate Affairs (MCA) has officially notified amendments to Ind AS 21, introducing a new framework for handling foreign currency transactions when exchangeability is lacking. The revised standard, part of the Companies (Indian Accounting Standards) Amendment Rules 2025, will come into effect from April 1, 2025, aiming to enhance transparency, accuracy, and investor…
State Bank of India (SBI) and seven other lenders have announced the sale of 20% of their combined stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for ₹13,483 crore, marking the largest cross-border investment in the Indian banking sector. Transaction Details Strategic Impact This sale follows the Yes Bank Reconstruction Scheme initiated…
Swiggy Ltd, India’s leading food delivery and quick commerce platform, has reported a net loss of ₹1,081 crore for the fourth quarter of FY2024-25, marking a 95% year-on-year (YoY) increase from ₹554.7 crore in Q4 FY24. Despite the widening losses, the company’s revenue surged 45% YoY to ₹4,410 crore, driven by strong growth in its…
Canara Bank Ltd has announced its financial results for the fourth quarter of FY2024-25, reporting a 33.15% year-on-year (YoY) increase in net profit to ₹5,002.66 crore. The bank attributes this growth to strong loan growth, improved asset quality, and higher operating profit. Financial Highlights Dividend Declaration & Market Performance Canara Bank’s board has recommended a…
Kalyan Jewellers India Ltd witnessed a 3% intraday surge in its stock price on Friday, defying broader market weakness triggered by India-Pakistan tensions following Operation Sindoor. The rally comes on the back of strong Q4 FY25 earnings, which showcased robust revenue growth and improved profitability. Financial Highlights Dividend Declaration & Market Performance Kalyan Jewellers’ board…
Great Eastern Shipping Company Ltd, India’s largest private sector shipping firm, has reported a 60% year-on-year (YoY) decline in net profit for the fourth quarter of FY2024-25, amounting to ₹363 crore. The company attributes the drop to lower freight rates and weaker global demand. Financial Highlights Dividend Declaration & Market Performance Great Eastern Shipping has…
ideaForge Technology Ltd, a leading Indian drone manufacturer, has reported a net loss of ₹26 crore for the fourth quarter of FY2024-25, marking a sharp reversal from a net profit of ₹10 crore in the same period last year. The company’s revenue plunged 80% YoY to ₹20 crore, compared to ₹102 crore in Q4 FY24,…
India’s public sector banks (PSBs) have reported a record cumulative net profit of ₹1.78 lakh crore for the fiscal year FY2024-25, marking a 26% year-on-year (YoY) growth. This milestone reflects the sector’s turnaround from losses in FY18, driven by government-led reforms and recapitalization efforts. Financial Highlights Government-Led Reforms Driving Growth The turnaround of PSBs is…
Reliance Power Ltd, led by Anil Ambani, has reported a net profit of ₹126 crore for the fourth quarter of FY2024-25, marking a significant turnaround from a net loss of ₹397.6 crore in the same period last year. The company attributes this recovery to lower expenses and improved operational efficiency. Financial Highlights Operational Performance Reliance…
