Equity Mutual Funds To Move To T+2 Settlement From Feb. 1

Equity mutual funds will switch to a shorter settlement period starting Feb. 1.

Redemptions in equity mutual funds will be one day shorter when they switch to T+2 settlement in February, said A Balasubramanian, chairman of the Association of Mutual Funds in India.

"The mutual fund industry has been making proactive changes in the interest of investors in light of the recent move by Indian stock exchanges to move to a T+1 settlement for equity," Balasubramanian, who is also the managing director and chief executive officer of Aditya Birla Sun Life AMC Ltd said.

From Feb. 1, an investor in an equity mutual fund scheme who chooses to redeem their investment will receive the proceeds in two days rather than the current three-day wait.

The move by mutual funds is due to a change in the time that stock exchanges in India use to settle trades.

From this Friday, Indian stocks accounting for 80% of India's market capitalisation moved to a shorter T+1 trade cycle. Shares of 218 companies made the transition, making India the second market after China to implement the next-day settlement.

"The move to a shorter settlement in equity mutual funds will be beneficial for the investor, in that it will provide liquidity earlier," said Prableen Bajpai, founder of FinFix Research.

"But it does not change the process of investing. Equity should primarily be used for long-term goals. Short-term requirements for funds, like in the case of emergencies, should be planned with fixed income investments like liquid funds."

An exception here is the arbitrage fund, according to Bajpai.

These funds are categorised as "equity" but are used by investors, usually those with a higher net worth, as an alternative to short-term debt funds.

The move to a shorter settlement will be more advantageous in this category, Bajpai said.

#adani today

Mf exposure in #Adani Stocks
Telegram.me/AlliesFin/12649

Adani Enterprises

Volume 15.637 MN
Delivery 2.677 MN
Delivery 17.12 (%)
Delivery Value (Rs. Mn) 8,059
Closing Price 2761.45


Adani Gas

Volume 1.334 MN
Delivery 0.54 MN
Delivery 40.49 (%)
Delivery Value (Rs. Mn) 1,639
Closing Price 2928


Adani Power

Volume 2.996 MN
Delivery 1.777 MN
Delivery 59.31 (%)
Delivery Value (Rs. Mn) 441
Closing Price 247.95


Adani Green Energy

Volume 6.15 MN
Delivery 1.727 MN
Delivery 28.07 (%)
Delivery Value (Rs. Mn) 2,741
Closing Price 1486.25


Adani Transmission

Volume 2.651 MN
Delivery 0.824 MN
Delivery 31.08 (%)
Delivery Value (Rs. Mn) 1,745
Closing Price 2014.2


Adani Port & Sez L

Volume 66.587 MN
Delivery 14.108 MN
Delivery 21.19 (%)
Delivery Value (Rs. Mn) 8,692
Closing Price 596.95


Adani Wilmar

Volume 1.152 MN
Delivery 0.957 MN
Delivery 83.05 (%)
Delivery Value (Rs. Mn) 496
Closing Price 516.85


ACC Limited

Volume 4.271 MN
Delivery 1.267 MN
Delivery 29.66 (%)
Delivery Value (Rs. Mn) 2,411
Closing Price 1879.75


Ambuja Cements

Volume 93.725 MN
Delivery 23.821 MN
Delivery 25.42 (%)
Delivery Value (Rs. Mn) 9,345
Closing Price 380.45

27-01-2023

*📰Today's News Headlines*

*Economic Times*

📝 BCCI invites bids for acquiring title sponsorship rights

📝 NTPC Q3 Results: PAT rises 5% YoY to Rs 4,476 crore; board approves Rs 4.25/share dividend

📝 Top US advocacy group submits Budget wish list, seeks rationalisation of tax system

📝 China aims to boost consumption and imports as global demand cools

📝 Bank unions defer two-day strike originally set for January 30, 31

📝 Piyush Goyal bats for international network of mentors, investors to strengthen global startup ecosystem

📝 Adani Group says FPO to continue as planned; rules out changes in price, dates of FPO

*Business Standard*

📝 GRSE partners Rolls Royce Solutions for building marine engines in India

📝 DCB Bank Q3 net profit jumps 52% to Rs 114 cr on decline in bad loans

📝 Reliance Power Q3 loss widens to Rs 291 cr, expenses rise to Rs 2,126 cr

📝 Indus Water Treaty: India sends notice to Pak, seeks changes in pact

📝 LG Electronics Q4 profit collapses on slumping demand, rising cost

*Financial Express*

📝 Accelerating TReDS adoption to reduce the cost of capital for MSMEs

📝 From February 1, DTH and cable TV rates set to rise by 30%

📝 Air India set to place biggest ever global order of 500 aircraft

📝 Wheat prices fall 10% as govt steps in

📝 Index provider MSCI seeks feedback on Adani Group over Hindenburg report

*Mint*

📝 Donald Trump opens 2024 run, says he's 'more committed' than ever

📝 Earthquake of magnitude 5.9 strikes Turkey-Iran border

📝 Kajaria Ceramics announces ₹6 per share dividend, PAT drops 39% in Q3

📝 Samsung opens its largest experience store in Delhi

📝 UK regional airline Flybe ceases trading, cancels all flights

📝 States spent 39% of budgeted capex in Apr-Nov as against 60% by Centre: Report

📝 Govt extends viscose staple fibre QCO implementation by 60 days

📝 US embassy plans to reduce backlog in two visa categories in 2023 for Indians

📝 Boeing to hire 10,000 workers in 2023 as it ramps up production

📝 US and EU announce first-of-its-kind AI agreement.

Emailing Adani Response to Hindenburg - January 29, 2023.pdf

#Adani response to #Hindenburg is out for public. #alliesfin
Read full report
https://telegram.me/AlliesFin/12652

*Mkt. Updates :*

*SGX Nifty +50 pts (17745) from last trade 17695 ,*

Nikkei +33 pts ,
Hangseng -109 pts ,
Around @ 6.57am .

Dow +28.67 pts ,Nsdq +109.30 pts, S&P
+10.12 pts , Bovespa -1861 pts , Ftse +4 Pts , Dax +17 pts , Cac +1 pts , Crude @ $80.40 brl (+0.69), Brent @ $87.44 brl (+0.78) , Gold @ 1929.10 (-0.30), Silver @ $23.79 (+0.16), Euro @ $1.0869, JPY @ $129.98, INR @ 81.515


*US GOVT. 10-YEAR YIELD : 3.52%*


*Today's Corporate Action, 30 Jan Ex Date :*

360ONE
Interim Dividend - Rs. - 17.0000
ASCENSIVE
E.G.M.     
BANARBEADS
Interim Dividend - Rs. - 2.0000
BAZELINTER
E.G.M.     
LTIM
Interim Dividend - Rs. - 20.0000
SIEMENS
Final Dividend - Rs. - 10.0000


*Today's Key Results/Board Meetings, 30-Jan-22 :*

 ABIRAFN
Quarterly Results  
ADFFOODS
Quarterly Results  
AEL
Quarterly Results  
AJMERA
Quarterly Results  
ALUFLUOR
Quarterly Results  
ARAVALIS
Quarterly Results  
ASRL
General;Quarterly Results
ASTEC
Quarterly Results  
BAJAJFINSV
Quarterly Results  
BAJAJHLDNG
Quarterly Results  
BASANTGL
Quarterly Results  
BPCL
Quarterly Results  
CSBBANK
Quarterly Results  
DAAWAT
Quarterly Results  
ELIXIR
Quarterly Results  
EMKAY
Quarterly Results  
EXIDEIND
Quarterly Results  
FILME
Audited Results  
HINFLUR
Quarterly Results  
IMFA
Quarterly Results  
INCAP
General;Quarterly Results
INOXLEISUR
Audited Results;General;Quarterly Results
JLMORI
Quarterly Results  
KEMP
Quarterly Results  
KUNSTOFF
General;Quarterly Results
LT
Quarterly Results  
MANGCHEFER
Quarterly Results  
MAZDOCK
Quarterly Results  
MIDINDIA
General;Quarterly Results
MRPL
Quarterly Results  
NAM-INDIA
Quarterly Results  
NLFL
Quarterly Results  
OMEGAIN
Quarterly Results  
PASARI
Quarterly Results  
PHOTON
Quarterly Results  
PONDYOXIDE
Quarterly Results  
RAMAVISION
Quarterly Results  
RECLTD
Interim Dividend;Quarterly Results
SAINTGOBAIN
Quarterly Results  
SERIND
Quarterly Results  
SHABCHM
General;Quarterly Results
SHILCTECH
General;Quarterly Results
SIMPLXREA
Quarterly Results  
SOTL
Quarterly Results  
SPSL
Quarterly Results  
SRECR
Quarterly Results  
SSWL
Quarterly Results  
STL
Quarterly Results  
SWRNASE
Quarterly Results  
TCI
Interim Dividend;Quarterly Results
TECHM
Audited Results;Quarterly Results
TRIDENT
Quarterly Results  
TTIENT
Quarterly Results  
VASCONEQ
General;Quarterly Results
VENMAX
Quarterly Results  
VENUSREM
Quarterly Results  
VSSL
Quarterly Results  
YARNSYN
Quarterly Results  
ZSWASTSA
Quarterly Results


*SEC. IN F&O BAN FOR*
*30-Dec-22 :*

*1. AMBUJACEM*

India Daybook – Stocks in News


*NMDC:* DIPAM says that multiple expressions of interest received for strategic disinvestment of NMDC Steel transaction will now move to the second stage (Positive)

*Godfrey:* Net profit up 70.3% at Rs 199.3 cr Vs Rs 117 cr, Revenue up 30.3% at Rs 919.5 cr Vs Rs 706 cr (YoY) (Positive)

*Tata Motors:* Company increases prices across passenger vehicles. (Positive)

*Vedant Fashion:* Cons PAT at Rs 150 cr vs Rs 128 cr, Cons revenue at Rs 441 cr vs Rs 384 cr YoY (Positive)

*Polymed:* Cons PAT at Rs 50 cr vs Rs 34 cr, Cons revenue at Rs 284 cr vs Rs 230 cr YoY (Positive)

*CMS Info:* Cons revenue at Rs 488 cr vs Rs 403 cr, Cons PAT at Rs 75.8 cr vs Rs 60.0 cr YoY (Positive)

*Denora:* Cons revenue at Rs 19.2 cr vs Rs 15.4 cr, Cons PAT at Rs 4.8 cr vs Rs 2.4 cr YoY (Positive)

*Seshasayee:* Cons revenue at Rs 555.8 cr vs Rs 334.2 cr, Cons PAT at Rs 111.5 cr vs Rs 6.0 cr YoY (Positive)

*IRB Infrastructure:* CRISIL Ratings has upgraded its ratings on the bank facilities of IRB Infrastructure (Positive)

*Tube Investment:* Subsidiary TI Clean Mobility to acquire remaining 30.04% Stake in Cellestial E-Mobility For Rs 50.90 Crores (Positive)

*Hinduja Global:* Fixes Buyback Price @ Rs 1,700/Share, To Spend Upto Rs 1,020 Crores (Positive)

*Thomas Cook:* CRISIL has revised its rating outlook to ‘Stable’ from ‘Negative’ on the Bank facilities (Positive)

*HFCL:* Company bags orders worth Rs 206.67 Cr from Reliance Projects & Property Management (Positive)

*Dixon:* Forms a Joint Venture with Mega Alliance Holdings, a part of China's Tinno Group (Positive)

*NTPC:* Standalone Net Profit up 5.42% at Rs 4,476 cr vs Rs 4,246 cr YoY, Installed Capacity Up 3,127 MW YoY At 70,884 MW (Positive)

*VRL Logistics:* Along With Results Board To Consider Buy-Back Proposal (Positive)

*Fineotex Chemicals:* Net profit up 20% at Rs 22.2 cr Vs Rs 18.5 cr, Revenue up 3.9% at Rs 109.2 cr Vs Rs 105.1 cr (YoY) (Neutral)

*Bajaj Finance:* Net profit at Rs 2,973 cr Vs poll of Rs 2,969.2 cr, NII up 23.8% at Rs 7,433.1 cr Vs Rs 6,002.5 cr (YoY) (Neutral)

*Vedanta:* Net profit down 42.3% at Rs 3,091 cr Vs Rs 5,354 cr, Margin at 20.7% Vs 31.7% YoY. (Neutral)

*BEL:* Net Profit at Rs 598.7 cr vs poll of Rs 652 cr, Revenue at Rs 4131.0 cr vs poll of Rs 4131.0 cr. (Neutral)

*Five Star:* PAT at Rs 151 cr Vs Rs 118 cr, up 28% YoY, Net interest income at Rs 320 cr Vs 232 cr, up 38% YoY (Neutral)

*AB AMC:* Cons revenue at Rs 314 cr vs Rs 334 cr, Cons PAT at Rs 166.0 cr vs Rs 186.0 cr YoY. (Neutral)

*Vimta:* Cons revenue at Rs 77 cr vs Rs 67 cr, Cons PAT at Rs 10.2 cr vs Rs 11.7 cr YoY. (Neutral)

*Reliance Ind:* Reliance Jio tops net user addition list for 8th straight month (Neutral)

*HDFC:* NCLT to hear HDFC merger case for final approval on Feb 3 (Neutral)

*Hinduja Global:* Board approves share buyback worth upto Rs 1,020 cr, fixes buyback price at Rs 1,700/share (Neutral)

*Siyaram Silk:* Cons revenue at Rs 502 cr vs Rs 563 cr, Cons PAT at Rs 51.9 cr vs Rs 68.5 cr YoY (Neutral)

*Aarti Drugs:* Net profit down 37.1% at Rs 36.7 Cr Vs Rs 58 cr, Revenue up 4.6% at Rs 664 cr Vs Rs 634.8 cr (YoY)

*Heranba:* Cons revenue at Rs 276 cr vs Rs 1058 cr, Cons PAT at Rs 12.6 cr vs Rs 93.2 cr YoY

*Mangalam Org:* Cons revenue at Rs 129 cr vs Rs 117 cr, Cons PAT at Rs 0.5 cr vs Rs 15.1 cr YoY

UPPER CIRCUIT IN ASSEST BASED ADANI GROUP STOCKS,
ALSO INDICES ON RECOVERY MODE.

GOOD TRADERS & INVESTORS NEED TO IGNORE THE NOISE AROUND AND LOOK FOR THE OPPORTUNITY WITH RISK MANAGEMENT AND ALLOCATION.

THANK YOU FOR BELIEVING IN YOURSELF...

AAPKA SAATHi
AXiiT @ALLiESFiN

#ACC all time Hits since last 30 years.
Telegram.me/AlliesFin
#adani #adanigroup

NSe NIFTy Cmp 17529 (-0.43%), BANKNIFTy Cmp 39835 (-1.26%), BSe iT Cmp 29864 (+0.98%),
Once again, today IT outperofrmed the main index.

NIFTY AND BANKNIFTY
MAJOR SUPPORTS TESTED TODAY,

VERY STRONG ACCUMULATION OR DEMAND AREA.

BEST TIME TO SQ OF SHORTS OR TO BUILD SHORT TERM LONG POSITIONS KEEPING IN MIND TODAYS LOW WITH 3% BUFFER DIFF DUE TO VOLATILITY AND EVENT.

WATCH OUT ALLOCATION AND YOUR RISK REWARD PROFILE.

AAPKA SAARTHi
@AXiiTsHAH @ALLiESFiN

If your #financial planner and #risk #reward permits then #retail #hni #institutions can look forward to apply for #adani #fpo #alliesfin #stockmarket

*INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 30-01-2023 :*

*FIIS F & O : RS. CRS. :*

*TOTAL NET BUY : +5533* 😄😄

*INDEX FUT. : -1607*

*INDEX OPT. : +6353*

*STOCK FUT. : +554*

*STOCK OPT. : +233*

*SEC. IN F&O BAN FOR, 31 JAN, 2023 :*

*1. AMBUJACEM*

*ADDITION : NIL*
*DELETION : NIL*

*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 30-JAN-2023 :*

*FIIS : SELL -6,793 (10,904-17,697)* 😭😭

*DIIS : BUY +5,512 (11,874-5,974)* 😄😄

*BSE SENSEX : +169 (59,500)🔼*

*NSE NIFTY : +45 (17,649)*🔼

*BSE MIDCAP. : -54 (24,285)*🔽

*BSE SMLCAP. : -27 (27,597)*🔽

*B. CRUDE : $ 85.09* 🔽 😀

*GOLD: $1929=INR 57,750(10gr)* ↔️ 😳

*SILVER : RS. 72,700 (kg) (5pm) 🔽 😔*

*FOREX : RS. : $ 81.4950* 🔼 🙂

*7.26% GOI '32 : 7.4004%(99.0425)*🔼 😔

*7.54% GOI '36 : 7.4781% (100.50)* 🔼 😔

*7.41 GOI '36 : 7.4694% (99.48)* 🔼 😔

SGX Nifty +20 pts (17753) from last trade 17743 ,

Nikkei -42 pts ,
Hangseng +121 pts ,
Around @ 6.54am .

Dow -260.99 pts ,Nsdq -227.89 pts, S&P
-52.79 pts , Bovespa -43 pts , Ftse +19 Pts , Dax -23 pts , Cac -15 pts , Crude @ $77.91 brl (+0.01), Brent @ $85.59 brl (-1.09) , Gold @ 1921.60 (-1.30), Silver @ $23.65 (-0.08), Euro @ $1.0868, JPY @ $130.51, INR @ 81.525

Today's Corporate Action
31st Jan Ex Date

CCL
Interim Dividend - Rs. - 3.0000
MONIND
E.G.M.
RKFORGE
Interim Dividend - Rs. - 0.5000
WENDT
Interim Dividend - Rs. - 30.0000

Today's Key Results/Board Meetings
31-Jan-22

AMCOIND
Quarterly Results
ANDHRAPAP
Quarterly Results
APARINDS
Quarterly Results
AUTOAXLES
Quarterly Results
BASF
Quarterly Results
BLUESTARCO
Quarterly Results
CARBORUNIV
Interim Dividend;Quarterly Results
CENTURYTEX
Quarterly Results
CHEMOPH
Quarterly Results
CHOLAFIN
Interim Dividend;Quarterly Results
CIGNITI
Quarterly Results
COALINDIA
Interim Dividend;Quarterly Results
COCKERILL
Quarterly Results
CONTILI
Quarterly Results
DHANBANK
Quarterly Results
GESHIP
Interim Dividend;Quarterly Results
GHCL
Quarterly Results
GNA
Quarterly Results
GODREJCP
Quarterly Results
HOCL
Quarterly Results
IGLFXPL-B
Quarterly Results
INTSTOIL
Quarterly Results
IOC
Quarterly Results
JINDALSTEL
Quarterly Results
JSWHL
Quarterly Results
KOKUYOCMLN
Quarterly Results
LEHAR
Quarterly Results
MAGNAELQ
Quarterly Results
MAHEPC
Quarterly Results
MAPMYINDIA
General;Quarterly Results
MFSL
Quarterly Results
NACLIND
Quarterly Results
NIKKIGL
Quarterly Results
NXTDIGITAL
Quarterly Results
PARADEEP
Quarterly Results
PCBL
Interim Dividend;Quarterly Results
PGHH
Interim Dividend;Quarterly Results
RACCL
Quarterly Results
RAJPALAYAM
Quarterly Results
SCANSTL
Quarterly Results
SECURCRED
Quarterly Results
SOUTHMG
General;Quarterly Results
SPANDANA
Quarterly Results
STARHEALTH
Quarterly Results
SUNPHARMA
Interim Dividend;Quarterly Results
SUPTANERY
General
TAINWALCHM
Quarterly Results
TEEAI
Quarterly Results
TEGA
Quarterly Results
TTKPRESTIG
Quarterly Results
UPL
Quarterly Results
UYFINCORP
Quarterly Results
WESTLIFE
Quarterly Results

Stock under F&O ban on NSE
31-Dec-22
1 AMBUJACEM

• Adani Gets Backing as UAE Royals Buy $400 Million in Share Sale
o The conglomerate’s dollar bonds also extended a plunge
o BSE cuts daily limit on three Adani Group stocks to 10%
• Architect of Xiaomi’s India Growth Departs From the Company
o Xiaomi is now the biggest smartphone vendor in India
• Sugar Hits Six-Year High on Mounting Worries Over Tighter Supply
o Smaller output in Europe is also threatening global supplies
• Renault, Nissan Agree to Equalize Stakes in Alliance Reboot
• Morgan Stanley Names Arun Kohli as New Country Head For India
• Shorter Indian Bonds Drop on Extra Borrowing Worries: Traders
• Indian Company Private Bond Sales Fell 62% W/w to INR123.7 Billion
• Emerging Market ETFs Rise for 17th Week in $23.8 Bln Streak
• IShares MSCI India ETF Closed Below Its Bollinger Band
• Global Funds Sell NET INR 67.9B of India stocks on Monday: NSE
o Domestic funds buy 55.1 billion rupees of India stocks
• All-party meet ahead of Budget Session: Oppn raises Adani issue; YSR Cong calls for caste-based eco census: PTI
• LIC to Discuss Short Seller Allegation With Adani: Reuters
• Sanofi to Let Go of Staff at Vaccine Plants in India: Reuters
• India Parliament’s Budget Session to Begin Jan. 31 until April 6
o Parliament will be in recess Feb. 14 to March 12
• 4pm: India Fiscal Deficit in Rupees for April-Dec. Period
• 5:30pm: India Eight Infrastructure Industries Index for Dec., Prior 5.4%
• Delhi High Court to hear Delhi Metro’s Reliance Infrastructure payment plan
• India top court to hear a case to halt implementation of WhatsApp’s data sharing policy, Videocon insolvency case
• 2pm: Chief Economic Adviser V. Anantha Nageswaran with his team will address a press conference after the Economic Survey 2022-23 is tabled in both the houses of Parliament by Finance Minister Nirmala Sitharaman
• Aditya Birla Fashion (ABFRL): Billionaire Birla Inducts His Kids as Directors in Retail Unit
• Bharat Petroleum (BPCL): 3Q net income -31% Y/y to 19.6b rupees, beats est. 12.06b; revenue +14% to 1.33T
• GAIL India (GAIL): Adnoc Among Suppliers in Talks with India’s Gail for LNG Deals
• KEC International (KECI): Gets 11.31b rupees new orders
• Larsen & Toubro (LT): 3Q net income +24% Y/y to 25.5b rupees, misses est. 27.2b; revenue +17% to 463.9b; order book at period end 3.87T rupees
• Life Insurance Corp. (LICI): Says has $4.5B investment in Adani Group Cos
o LIC’s Mark-to-Market Gains in Adani Shares at $3.1b: Official
• Mangalore Refinery (MRPL): 3Q Net Loss 1.88B Rupees Vs. Profit 5.86B Rupees Y/y
• Nippon Life India AM (NAM): 3Q net income +18% Y/y to 2.05b rupees, beats est. 1.71b; revenue +4.4% to 3.54b
• REC (RECL): 3Q Net Income 28.8B Rupees Vs. 27.7B Rupees Y/y; revenue -3% to 97b
• SRF (SRF): 3Q net income +1% to 5.11b rupees, beats est. 4.75b; revenue +3.65 to 34.7b; approves INR5.95b capital expenditure proposal
• Tech Mahindra (TECHM): 3Q net income -5% Y/y to 13b rupees, matches est. 13b; revenue +20% to 137.3b
• UltraTech Cement (UTCEM): Buys 70% share capital in DUQM Cement for $2.25M

WHAT HAPPENED OVERNIGHT

- U.S. equities saw a give-back day after recent gains

- SPX -1.3%, Nasdaq -1.96%

- UST 10y yield +3 bps to 3.54%

- U.S. Dollar Index +0.3% to 102.2

- Brent Oil -2.5% to $84.50/bbl

- Fed decision & Powell commentary tomorrow evening

News Headlines from Business News Agencies:

Business Standard

• GAIL Q3 net falls 92% to Rs 246 cr on higher prices, Russian gas disruption
• Welspun India reports 68% drop in Q3 profit due to rising inflation.
• LIC claims its equity exposure in Adani Group at 0.97% of total AUM
• Auto parts sourcing start-up CapGrid raises $7 mn in series A from Nexus
• ITC starts Rs 450 cr food manufacturing, logistics facility in Telangana
• Air India to use new program for real-time reporting of in-flight incidents
• Dutch electronics giant Philips to cut 6,000 jobs worldwide over next 2 yrs
• Abu Dhabi-based firm IHC to invest $400 mn in Adani Enterprises FPO
• Tata Power ties up with Contour for digital trade finance network
• Air India likely to post consolidated profit in current fiscal: Report
• $3.1 mn spent on privacy last year by businesses in India: Report
• CSB Bank Q3 net up 5% to Rs 156 cr on strong growth in deposits and loans
• Tech Mahindra's Q3 profit slides 5.3% as expenses jump on macro challenges

Economic Times

• Board of directors of Maharashtra co-op bank violated norms to siphon off funds: ED
• Big relief for former Jet staffers, fresh setback for new owners
• Sunlit Power collaborates with Lucas TVS for supply of 50,000 EV motors to industries.
• Telcos to splurge around Rs 3 lk cr in capex spends for 5G in India
• WayCool announces partnership with UPL Sustainable Agri Solutions
• PNB Q3 Results: Net profit falls 44% YoY to Rs 629 crore
• GAIL Q3 Results: Profit slumps 93% YoY to Rs 246 crore on supply hit
• China's JD.com to shut e-commerce sites in Indonesia, Thailand
• Active mobile users dropped 4.5 million in November, trend to continue: Analysts
• Unilever names Dutch dairy boss Hein Schumacher as new CEO
• Bajaj Finserv Q3 Results: Net profit soars 42% YoY to Rs 1,782 crore
• Medtronic appoints Michael Blackwell as India vice-president
• Laurus Labs Q3 Results: PAT rises 32% YoY to Rs 203 cr, revenue jumps 50%
• Apple supplier Jabil begins making parts of AirPods in India: report

MINT

• Aluminium capex to triple over next 5 fiscals on strong demand: Report
• BPCL Q3 results: Net profit falls 36% YoY to ₹1,747 cr, revenue up 13%
• KEC International bags orders worth ₹1,131 crore across its various businesses
• Morgan Stanley names Arun Kohli as new country head for India
• L&T reported 24 per cent rise in consolidated profit to ₹2,553 crore for the quarter ended December 2022.
• Rays Power Infra inks pact with Rajasthan govt to build 1800 MW solar park
• Atal Pension Yojana subscribers count cross 5-crore mark: PFRDA
• Sun Pharma acquires three brands to boost anti-inflammatory portfolio
• US’ tripartite chip alliance should spook China
• Infibeam Avenues brand CCAvenue to process Digital Rupee
• LNG pipeline connectivity with Myanmar, Bangladesh on the cards
• US, Singapore, UK lead in offshore business presence in India
• CIL sets aside ₹42,600 cr for cleaner coal transport, solar