11843 stories by IPA Staff
Ahead of Counting Day, Oommen Chandy Confident of Congress Returning to Power in Kerala
The 77-year-old two time former Congress Chief Minister, Oommen Chandy is confident that the electoral history of Kerala will remain intact as in every election, the opposition returns to power. Counting of votes will begin at 8 am on Sunday for the 140-member Kerala Assembly. The veteran leader was...
Jailed SP Leader Azam Khan Tests Covid-19 Positive Along With 12 Other Inmates
Samajwadi Party MP from Rampur, Mohammad Azam Khan, who is lodged in Sitapur jail for over a year now, has tested positive for Covid-19. The jail administration had conducted his Covid test two days ago. Besides Khan, 12 other inmates at the jail have also tested positive for the...
EU Aims to Cut Foreign Reliance on Chips, Pharma Materials: Report
BRUSSELS: The European Union aims to cut its dependency on Chinese and other foreign suppliers in six strategic areas including raw materials, pharmaceutical ingredients and semiconductors, under an industrial action plan to be announced next week. A draft seen by Reuters outlined the urgency of the task ahead, citing...
SBI Will Not Freeze Accounts if KYC Not Updated; Customers Need Not Visit Bank
SBI said that customers will not be required to personally visit the branch for the purpose of KYC updation SBI will not partially freeze the accounts if the KYC details are not being updated till May 31, the bank said. In a bid to provide relief to thousands of...
Maharashtra complains about restrictions on soybean seed movement from MP
Earlier, the agriculture officers of Indore and Ujjain had passed an order restricting the movement of soybean seed for sale outside the jurisdiction of these districts. The department of agriculture, Maharashtra, has written to the Centre complaining about an order passed by the Madhya Pradesh government putting restriction on...
Embassy REIT: Maintain ‘buy’, lower TP to Rs 380
4QFY21 taking total vacancy increased by 170bps q-o-q (370bps q-o-q on a same-store (SS) basis) to 11.1% (and 13% on a SS basis). While collections remained steady, rental escalations continued, and vacancies increased by 370bps on a SS basis. We believe MPPL presents a dilemma, with an opportunity to...
Bajaj Auto: Maintain ‘buy’, co posts 26.1% revenue growth
BAL has reported PAT of ~Rs 13.3bn (up 2% YoY) and declared dividend of Rs 140/share. Bajaj Auto’S (BAL) Q4FY21 margins were a beat on consensus expectations at 17.7% (down 65bpsYoY). BAL’s margin resilience was driven by rise in export mix (up 340bpsYoY at 46.4%) and increased share of...
Banks Shut Today, Check List of Holidays In May 2021
Banks in India will remain shut for up to 12 days in May 2021, which includes weekends and festivals, due to various occasions. According to the Reserve Bank of India (RBI) guidelines, all banks including the public sector, private sector, foreign banks, cooperative banks and regional banks across the...
Maruti Suzuki Rating: neutral: Q4FY21’s performance missed estimates
Maruti suzuki launched its new swift car in Auto expo 2018 in greater noida on Thursday. Express Photo by Gajendra Yadav. 08.02.2018. MSIL’s Q4FY21 EBITDA margin at 8.3% was below estimates (Nom: 9.6%, Bloomberg consensus: 9.2%). RM/Sales increased 80bp q-o-q to 77.3% (Nom: 76.8%), which was the key reason...
Petrol price can rise by Rs 5/litre to support OMC marketing margins
The impact has been worst in Maharashtra while Uttar Pradesh, New Delhi, and Chhattisgarh have also been severely affected Retail prices of auto-fuels are seen to rise again after the assembly elections are over as state-run oil marketing companies (OMCs) will likely want to improve their marketing margins amid...
Net Profit Doubles to Rs 13,227 Crore
Reliance Industries on Friday reported a 108.4% year-on-year increase in consolidated net profit to Rs 13,227 crore for the quarter ended in March. The oil-to-telecom conglomerate posted a net profit of Rs 6,348 crore during the same period last year. Revenue from the operations rose 11% year-on-year to Rs...
Akhilesh Attacks Centre Over Covid-19 Crisis, Says BJP Govt Tarnished India’s Image Globally
Hitting out at the Centre over mismanagement of the Covid-19 pandemic, Samajwadi Party national chief Akhilesh Yadav on Friday said that the Bharatiya Janata Party (BJP) government was getting infamous around the world, and many countries have banned travel to India while some have issued advisories to their countrymen...
Zero Accountability Even After Two Lakh Dead in Second Covid-19 Wave, Says Rahul Gandhi
File photo of Congress leader Rahul Gandhi. The death toll increased to 2,08,330 with 3,498 new fatalities, the Union Health Ministry data updated at 8 am showed. PTI New Delhi Last Updated:April 30, 2021, 23:35 IST FOLLOW US ON: Congress leader Rahul Gandhi targeted the central government on Friday,...
Reliance Industries Generates 75,000 Jobs in Covid-19 Pandemic Year
Reliance Industries on Friday said that it has generated 75,000 new jobs during the pandemic-hit year. The company posted a net profit of Rs 13,227 Rs crore for the quarter ended March 31, 2021, a whopping 108% yearly increase. “And while COVID-19 has disrupted livelihoods, we have added nearly...
Tech Mahindra Rating: buy: Execution was strong in the final quarter
Management is focussing on customer transformation deals. The stock is trading at 17.4x FY22e PE. All in all, we maintain ‘BUY/SN’. Tech Mahindra posted Q4FY21 revenue growth of 1.6% q-o-q (USD) and 0.7% (CC) to $1,330 mn, lower than our and Street’s estimates of 1.5% (USD) and 1.9% (cc),...
Reliance Jio Net Profit Jumps 47.5% to Rs 3,508 Crore in Q4; Adds 3.1 Crore Customers
Reliance Jio Platforms reported a 47.5% year-on-year increase in net profit to Rs 3,508 crore for the Q4FY21. The subsidiary of Reliance Industries, posted a net profit of Rs 2,379 crore in the same period last year. The revenue from operations grew 19% year-on-year to Rs 18,278 crore for...
Rahul Bajaj Steps Down as the Chairman of Bajaj Auto, Niraj Bajaj to Take Over
Rahul Bajaj, one of the most successful business leaders in the country, has finally decided to hang his boots at Bajaj Auto, the company he nurtured and steered to one of the leading firms in two and three-wheeler space. The non-executive chairman of the Pune-based two and three-wheeler maker...
Net Loss Widens to Rs 3,788 Crore; NII Declines 23%
YES Bank on Friday reported a net loss of Rs 3,787.75 crore for the quarter ended in March. The private lender posted a net loss of Rs 3,668.33 crore for the corresponding quarter last year. YES Bank’s net interest income, the difference between interest earned and interest, declined 23% to...
