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Westlife Development net profit grows 30.3% to Rs 20.3 cr in March quarter

Westlife Development Ltd on Tuesday reported a 30.3 per cent increase in consolidated net profit to Rs 20.30 crore for the fourth quarter ended March 2023. The company had posted a net profit of Rs 15.58 crore in the January-March quarter a year ago, Westlife Development Ltd said in a BSE filing. Its subsidiary Hardcastle Restaurants is the Master Franchisee of McDonald's restaurants in West and South India. The company's sales were up 22.5 per cent at Rs 543.80 crore during the period under review against Rs 443.90 crore in the corresponding quarter last fiscal. Westlife Development's total operating costs and expenses rose 18.79 per cent to Rs 419.92 crore in Q4 FY23. In the March quarter, total revenues of the company surged 22.25 per cent to 556.37 crore. According to the company, it has "reported an all-time high Q4 sales" with a strong double-digit SSSG (same-store sales growth) of 14 per cent year-on-year. "This was driven by double-digit growth in dine-in customers, enab

Sensex plunges 695 pts, Nifty below 18,100 as HDFC twins sink up to 6%

CLOSING BELL: HDFC and HDFC Bank accounted for a loss of 645 points on the BSE benchmark. Broader indices ended with relatively lesser losses of around 0.5 per cent each.

From Adani Wilmar to Havells India: Q4 results to watch out for today

Q4 results: Godrej Properties, Reliance Power, Bajaj Consumer, Chola Investment, JK Agri Genetic, Petronet LNG, Sula Vineyards, Sonata, and Tata Chemicals will also announce their results today

Stock markets: BSE, NSE to remain closed on account of Maharashtra Day

There will be no trading at the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today

Bourses approves transfer of NCDs from HDFC Ltd to Bank as part of merger

HDFC Ltd on Wednesday said both stock exchanges BSE and NSE have approved the transfer of NCDs from the mortgage firm to HDFC Bank as part of the amalgamation process. BSE and NSE vide their letters dated April 26, 2023, granted their in-principle approval for the transfer of additional NCDs (non-convertible debentures) issued by HDFC Limited post receipt of the earlier approval on December 13, 2022, to HDFC Bank, the mortgage firm said in a regulatory filing. The proposed amalgamation is subject to receipt of final approvals from the Securities and Exchange Board of India (Sebi) in respect of change in control of certain subsidiaries of HDFC Limited, it added. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of this financial year. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about US

India needs over 1 vibrant exchange, tweaking products to enliven BSE: CEO

India needs more than one vibrant exchange, and the BSE is tweaking its capital market products to revitalise the bourse and offer greater flexibility to investors, a top official said. The goal is to encourage technology providers, brokers and end users to actively participate in the BSE, he said. "India requires more than one active exchange, and hence the need to make the BSE more vibrant. We trying to differentiate by tweaking our product offerings," the bourse's MD & CEO Sundararaman Ramamurthy said in an interview to PTI. After taking over the bourse's charge in January, Ramamurthy has taken several measures to reinvigorate the BSE. "We are re-launching Sensex and Bankex derivatives with lower lot sizes and a new expiry cycle of Friday from May 15. The launch of Sensex 30 and Bankex derivatives will provide investors an opportunity to trade these popular and well-tracked indices,'' he said. "We will also be approaching the regulator for introducing weekly options expiries on

Zomato tells BSE most Blinkit stores have reopened after wage protests

Strike by delivery partners of grocery unit had no impact on operations or financial performance, says firm

Mahindra Finance to raise upto Rs 8,000 crore through debentures in FY24

The company continued to maintain a comfortable liquidity chest of about three months' requirement, according to the NBFC's filing with BSE

Street Signs: Market's winning streak, new-age tech-listed firms & more

Technical analysts expect the index to face immediate resistance at 17,900-18,000, which, if broken, could decisively take the index beyond 18,200

Market holiday: BSE and NSE closed today on account of Ambedkar Jayanti

Stock market holiday today: Full list of stock market holidays in 2023 here

HDFC Bank to raise up to Rs 50,000 crore through bonds in FY24

Previous largest bond raise was by SBI at over Rs 38,850 cr in FY23

Sebi imposes fine of Rs 15 lakh on 3 individuals for non-genuine trades

Capital markets regulator Sebi on Tuesday imposed penalties totalling Rs 15 lakh on three individuals for indulging in non-genuine trades in the illiquid stock options segment on BSE. In three separate orders, the watchdog slapped a fine of Rs 5 lakh each on Radha Devi Goenka, Radhey Shyam Manchanda and Sanchit Arora. Sebi had observed large scale reversal of trades in the illiquid stock options segment of BSE, leading to creation of artificial volumes on the bourse. It had conducted an investigation into the trading activities of certain entities engaged in the segment on BSE from April 2014 to September 2015. According to Sebi, the three individuals were among those who indulged in the execution of reversal trades. The reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of generating artificial volumes, Sebi said. The individuals had violated the provisi

BSE products to get nip-and tuck-treatment under Sundararaman Ramamurthy

Asia's oldest bourse gets battle-ready under new chief

Stock market holiday: BSE and NSE to remain closed today on Good Friday

Stock market holiday today: Full list of stock market holidays in 2023 here

Sebi asks investment advisers to display info prominently in advertisements

To bring more transparency, Sebi on Thursday asked investment advisers and research analysts to prominently display information, including their name registered with the regulator, logo, registration number and complete address with telephone numbers, in their advertisements. In addition, they have been asked to give the disclaimer that "registration granted by Sebi, membership of BSE Administration and Supervision Ltd (BASL) in case of IAs and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors" in their advertisements. This information should also be there in publications, Know Your Client (KYC) forms, client agreements, statements and in any other form of correspondence with the client. In addition, the regulator has prohibited them from using Sebi logo in their advertisements. The latest move comes after the regulator observed that few Investment Advisers (IAs) and Research Analysts (RAs) are using the bra

NSE, BSE to move Adani Green to long term additional surveillance 1st stage

Leading bourses NSE and BSE on Thursday said Adani Green Energy will be moved to the first stage of the long term additional surveillance measure framework from April 10. On March 28, both the exchanges had put Adani Green Energy under the second stage of the long term Additional Surveillance Measure (ASM) framework. In two separate circulars, the bourses said Adani Green Energy will continue in the framework but will be moved to respective lower stage ASM from April 10. The parameters for shortlisting securities under the ASM framework include high-low variation, client concentration, number of price band hits, close-to-close price variation and price earning ratio. Meanwhile, stocks of all the 10 listed firms of the Adani group on Thursday ended the day in the positive territory, with Adani Transmission, Adani Green Energy, Adani Total Gas and NDTV each climbing 5 per cent. Many of the group firms hit their upper circuit limits during the day. After taking a beating on the bour

Mahindra records 21% rise in total sales to 66,091 units in March

Mahindra & Mahindra (M&M) on Monday said its total sales increased by 21 per cent year-on-year to 66,091 units in March. The company had dispatched 54,643 units to dealers in March 2022. In a statement, the Mumbai-based auto major said its utility vehicle wholesales rose by 31 per cent to 35,976 utility vehicles in March, as against 27,380 units in the year-ago period. It was the company's highest-ever utility vehicle wholesales in a month. M&M said its exports last month stood at 2,115 units, as against 3,160 units in the year-ago period, a drop of 33 per cent. For the last financial year, the company sold 3,56,961 utility vehicles, an increase of 60 per cent over 2,23,682 units in 2021-22. "Our SUV business recorded all-time high numbers, with a growth of 31 per cent in March 2023, while it recorded a 60 per cent overall growth in FY23, on the back of good demand across the portfolio," M&M President, Automotive Division Veejay Nakra said in the statement.

Flows will chase relative growth outperformance in FY24: Rahul Arora

The US Federal Reserve (Fed) and the Reserve Bank of India (RBI) should hike once more by about 25 basis points each, says Rahul Arora CEO-institutional equities at Nirmal Bang

Markets log biggest 1-day jump in over 4 months; RIL, ICICI lead charge

Three-month losing run ends; RIL, ICICI Bank lead charge

Waaree Renewable Technologies bags 1 MW green hydrogen project in Maha

Waaree Renewable Technologies has bagged a one MW green hydrogen project in Maharashtra on a build-own-operate basis from Mahatma Phule Renewable Energy & Infrastructure Technology Ltd. "The company has received Letter of Intent (LOI) dated March 31, 2023, for executing a 1 MW Green Hydrogen project in Maharashtra on a Built-Own-Operate basis," a BSE filing stated. The project will be executed within 12 months. It is awarded by Mahatma Phule Renewable Energy & Infrastructure Technology Ltd, it showed.