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Leading luxury surfaces and bathware products manufacturer Asian Granito India turned profitable in the first quarter of 2024-25, reporting a consolidated profit of Rs 30 lakh against a loss of Rs 3.6 crore in the year-ago period. The recovery was led by a 3 per cent increase in its consolidated net sales to Rs 343.2 crore in the April-June quarter of the current fiscal compared to net sales of Rs 334.8 crore in the first quarter of FY24, the company said in a statement. The earnings before interest tax depreciation and amortisation (EBITDA) for the quarter under review stood at Rs 16.1 crore against Rs 9.6 crore in the year-ago period, the company said. Strategic initiatives such as the Morbi expansion, the AGL demerger, focus on retail presence, showroom expansion, among others, demonstrate the company's strong commitment to growth," Asian Granito India Chairman and MD Kamlesh Patel said. The company said it is investing around Rs 73 crore to set up a mega display centre-cum- ..
The market capitalisation of BSE-listed companies jumped to a lifetime peak of Rs 462.38 lakh crore on Wednesday helped by a four-day rally in benchmark indices. The 30-share BSE Sensex settled higher by 285.94 points or 0.35 per cent at 81,741.34 -- its all-time closing high. In the last four trading sessions, the BSE benchmark jumped 408.62 points or 0.50 per cent, making investors richer by Rs 5.45 lakh crore. Investors' wealth climbed Rs 5,45,337.02 crore in the past four days to reach a record high of Rs 4,62,38,008.35 crore (USD 5.52 trillion) on Wednesday. "Sebi's crackdown on Futures & Options trade is eminently desirable and can go a long way towards making the ongoing rally healthy and less speculative. "The irrational exuberance of the retail investors, particularly the newbies who entered market after the Covid crash, will do more harm than good to the overall market in the long run," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, ...