Investors have only little doubt on Persistent System’s (PSYS) growth momentum, a sentiment which is also echoed by domestic brokerage firm JM Financial as they have a target price of Rs 6,030 on the stock, signaling an upside potential of 13.4%. The strength of PSYS’ recent deal wins is so robust that simply maintaining current … Read more
Brainbees Solutions, which operates FirstCry brand, on Friday reported a narrower consolidated net loss of Rs 57 crore for the quarter ended June 30, 2024 from Rs 90 crore reported by the company in the year ago period. The loss is attributable to the owners of the company. The revenue from operations stood at Rs … Read more
Unicommerce Esolutions reported a net profit of Rs 3.5 crore for the quarter ended June 30, 2024, which was up by 31% from Rs 2.7 crore reported by the company in the year ago period. The revenue from operations stood at Rs 27.5 crore, which was higher by 9% over Rs 25 crore posted in … Read more
The aggregate interest coverage ratio for India Inc hit a nine-quarter high in the recently concluded quarterly results season following a sustained double-digit growth in the operating profit and deceleration in the interest expense. The ratio was 4.9% in the June quarter for a sample of 2,695 companies excluding banks, finance companies, and oil and … Read more
Bank of America (BofA) bought 1.3 lakh shares of Interarch Building Products on Monday via a block deal at a cost of Rs 16.74 crore. The stock made its debut on the exchanges today and against the issue price of Rs 900, BofA bought Interarch shares at a price of 1,287.75 per share which was … Read more
The stock of mid-sized construction company HG Infra Engineering has gained close to 9% since the company announced its June 2024 quarter financial results on August 5 compared with 1.2% gain in the ET Construction Index. The stock’s outperformance can be attributed to the company’s better than expected quarterly show and its plans to diversify … Read more
Cyient’s board of directors in a meeting held on Tuesday approved the company’s 14.50% stake sale in its subsidiary Cyient DLM Limited via block deal. The expected date for completion of the sale is August 21, a company filing said. The company is yet to announce the offer price. Cyient held 66.66% share in Cyient … Read more
JSW Cement, part of Sajjan Jindal’s JSW Group, has filed its draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an IPO worth Rs 4,000 crore. The issue comprises a fresh equity sale of Rs 2,000 crore and an offer for sale (OFS) of Rs 2,000 crore. Under the OFS, … Read more
The head of India’s markets regulator, Madhabi Puri Buch, continued to earn revenue from a consultancy firm during her seven-year tenure, potentially breaching rules for regulatory officials, according to public documents reviewed by Reuters. Hindenburg Research has alleged a conflict of interest in Buch’s investigations surrounding the Adani Group due to her previous investments. The … Read more
The initial public offering (IPO) of Interarch Building Products will open for subscription on August 19. The issue closes on August 21. Through the public offer, the company plans to raise around Rs 600 crore. Here are 10 things to know about the Interarch Building Products IPO before subscribing to the issue. 1) What is … Read more
