Gold V/s Equity @AlliesFin #dsp
News Headlines from Business News Agencies :
Business Standard :
📝 Monthly natural gas trades shoot up nearly 4x in January, says IGX
📝 ArcelorMittal Dec qtr results: Loss trims to $390 mn, production at 14 MT
📝 REC Q3 results: PAT grows 23% to Rs 4,076 cr, income at Rs 14,286.91 cr
📝 India ranks third globally for LEED green building certification in 2024
📝 Lotte Wellfood to invest $300 mn in India for capacity, supply chain growth
📝 India's push for self-reliance in palm oil gets a boost with NMEO-OP
📝 HCLTech partners with ChargePoint to drive EV charging technology
📝 Prism Johnson Dec qtr results: Net profit at Rs 48.12 cr, sales up 6%
📝 IHH Healthcare's unit seeks up to $1.25 bn from Daiichi over Fortis deal
📝 IndiGo to lease Boeing 787-9 from Norse Atlantic for long-haul expansion
📝 Tata Power, Bank of Baroda ink pact for financing rooftop solar projects
📝 Interarch bets big on South India; eyes 10% rise in revenue in FY26
Economic Times :
📝 Trent bets on 'direct-to-customer' fast-fashion business model despite quick comm's meteoric rise
📝 India, UK join hands to shape green hydrogen standards
📝 Honeywell, one of the few remaining US industrial conglomerates, will split into three companies
📝 Trent to sell stake in Massimo Dutti India venture
📝 Swiggy management confident of EBITDA profitability by Q3 FY26
📝 BluePine Energy, Amazon sign PPA for 99 MW renewable energy project
📝 Steel sector leads with half of Jharkhand's Rs 26,000 cr investment proposals during Bengal biz meet
📝 Private sector banks set to generate Alpha in 2025: Radhika Gupta
📝 Vehicle registrations rise 6.6% in Jan, indicating sustained recovery in consumer demand: FADA
📝 China commerce ministry says US tariffs 'vile', 'unilateralist'
📝 More accommodative stance for NBFCs, banks needed in RBI monetary policy: HSBC
Mint :
📝 SBI Q3 Results: Net profit jumps 84% YoY to ₹16,891 crore; NII up 4%
📝 Bharat Dynamic Q3 net profit rises 9% to ₹147 crore; declares dividend of ₹4
📝 Volvo Cars will not pay Northvolt for battery joint venture stake, it says
📝 EPFO settles record 5-cr claims worth over ₹2 lakh cr in FY25
📝 Rural growth surges in FMCG sector in Dec qtr, outpaces urban market for fourth consecutive quarter
📝 High court allows Kirloskar Proprietary to become plaintiff in trademark case
📝 PVR INOX Q3 net profit jumps nearly 3-fold to ₹35.9 cr, revenue up 11 pc at ₹1,717.3 cr
📝 Part shifting of customs duty to AIDC to have marginal impact on state transfers: CBIC Chairman
📝 India can be a global hub for wind turbines: Suzlon’s Girish Tanti
📝 Redington Ltd clocks Q3 profit after tax at ₹402.96 cr
📝 Mauritius-based FII trims India Cements shareholding
Business Standard :
📝 Monthly natural gas trades shoot up nearly 4x in January, says IGX
📝 ArcelorMittal Dec qtr results: Loss trims to $390 mn, production at 14 MT
📝 REC Q3 results: PAT grows 23% to Rs 4,076 cr, income at Rs 14,286.91 cr
📝 India ranks third globally for LEED green building certification in 2024
📝 Lotte Wellfood to invest $300 mn in India for capacity, supply chain growth
📝 India's push for self-reliance in palm oil gets a boost with NMEO-OP
📝 HCLTech partners with ChargePoint to drive EV charging technology
📝 Prism Johnson Dec qtr results: Net profit at Rs 48.12 cr, sales up 6%
📝 IHH Healthcare's unit seeks up to $1.25 bn from Daiichi over Fortis deal
📝 IndiGo to lease Boeing 787-9 from Norse Atlantic for long-haul expansion
📝 Tata Power, Bank of Baroda ink pact for financing rooftop solar projects
📝 Interarch bets big on South India; eyes 10% rise in revenue in FY26
Economic Times :
📝 Trent bets on 'direct-to-customer' fast-fashion business model despite quick comm's meteoric rise
📝 India, UK join hands to shape green hydrogen standards
📝 Honeywell, one of the few remaining US industrial conglomerates, will split into three companies
📝 Trent to sell stake in Massimo Dutti India venture
📝 Swiggy management confident of EBITDA profitability by Q3 FY26
📝 BluePine Energy, Amazon sign PPA for 99 MW renewable energy project
📝 Steel sector leads with half of Jharkhand's Rs 26,000 cr investment proposals during Bengal biz meet
📝 Private sector banks set to generate Alpha in 2025: Radhika Gupta
📝 Vehicle registrations rise 6.6% in Jan, indicating sustained recovery in consumer demand: FADA
📝 China commerce ministry says US tariffs 'vile', 'unilateralist'
📝 More accommodative stance for NBFCs, banks needed in RBI monetary policy: HSBC
Mint :
📝 SBI Q3 Results: Net profit jumps 84% YoY to ₹16,891 crore; NII up 4%
📝 Bharat Dynamic Q3 net profit rises 9% to ₹147 crore; declares dividend of ₹4
📝 Volvo Cars will not pay Northvolt for battery joint venture stake, it says
📝 EPFO settles record 5-cr claims worth over ₹2 lakh cr in FY25
📝 Rural growth surges in FMCG sector in Dec qtr, outpaces urban market for fourth consecutive quarter
📝 High court allows Kirloskar Proprietary to become plaintiff in trademark case
📝 PVR INOX Q3 net profit jumps nearly 3-fold to ₹35.9 cr, revenue up 11 pc at ₹1,717.3 cr
📝 Part shifting of customs duty to AIDC to have marginal impact on state transfers: CBIC Chairman
📝 India can be a global hub for wind turbines: Suzlon’s Girish Tanti
📝 Redington Ltd clocks Q3 profit after tax at ₹402.96 cr
📝 Mauritius-based FII trims India Cements shareholding
RBI MONETARY POLICY AT 10AM
25bps rate cut is being expected.
Rates are at 6.50% since 8 Feb 2023
This is probably the most important RBI meeting in last 2 years.
Rate cut can lead to new liquidity into markets and some positivity can be seen for coming months.
Future rate cut projections and commentary will be important for new trend to emerge.
Lets see what happens 🥶🤞🏻
#RBIPolicy
25bps rate cut is being expected.
Rates are at 6.50% since 8 Feb 2023
This is probably the most important RBI meeting in last 2 years.
Rate cut can lead to new liquidity into markets and some positivity can be seen for coming months.
Future rate cut projections and commentary will be important for new trend to emerge.
Lets see what happens 🥶🤞🏻
#RBIPolicy
India's central bank delivers first rate cut in nearly 5 years
The Reserve Bank of India (RBI) cut its key repo rate on Friday for the first time since May 2020 to provide stimulus to the sluggish economy, which is expected to grow at its slowest pace in four years in the current fiscal year.
The Monetary Policy Committee (MPC), which consists of three RBI and three external members, cut the repo rate (INREPO=ECI) by 25 basis points as expected to 6.25%, after having kept the rate unchanged for eleven straight policy meetings.
India's government has forecast annual growth of 6.4% in the year ending in March, below the lower end of its initial projection, weighed by a weaker manufacturing sector and slower corporate investments. Growth is seen in a 6.3%-6.8% range in the coming fiscal year as well.
RBI Gov: Real GDP Growth for Current Year Estimated at 6.4%.
Home loan rates to decrease as RBI announces rate cut.
RBI Gov: Improving Employment, Tax Relief, Moderating Inflation Bode Well for Household Consumption.
The Reserve Bank of India (RBI) cut its key repo rate on Friday for the first time since May 2020 to provide stimulus to the sluggish economy, which is expected to grow at its slowest pace in four years in the current fiscal year.
The Monetary Policy Committee (MPC), which consists of three RBI and three external members, cut the repo rate (INREPO=ECI) by 25 basis points as expected to 6.25%, after having kept the rate unchanged for eleven straight policy meetings.
India's government has forecast annual growth of 6.4% in the year ending in March, below the lower end of its initial projection, weighed by a weaker manufacturing sector and slower corporate investments. Growth is seen in a 6.3%-6.8% range in the coming fiscal year as well.
RBI Gov: Real GDP Growth for Current Year Estimated at 6.4%.
Home loan rates to decrease as RBI announces rate cut.
RBI Gov: Improving Employment, Tax Relief, Moderating Inflation Bode Well for Household Consumption.
Events Update
As of 06:37 AM Friday 07 February 2025
8:30 AM Aurobindo Pharm
Weblink: https://tinyurl.com/27u2e697
9:00 AM REC
Dial: +91 22 6280 1224
9:00 AM Greenply
Dial: +91 22 6280 1317
Weblink: https://tinyurl.com/yc8n3pep
9:30 AM India Shelter Fin corp
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/4f5wax3s
10:00 AM PG Electroplast
Dial: +91 22 6280 1145
Weblink: https://tinyurl.com/2drt6b8x
10:00 AM Cummins
Dial: +91 22 6280 1164
Weblink: https://tinyurl.com/4rethxjr
10:00 AM Muthoot Microfin Limited
Dial: +91 22 6280 1366
Weblink: https://tinyurl.com/4bjt2bmy
10:30 AM Hero Motocorp
Dial: +91 22 6280 1245
Weblink: https://tinyurl.com/2j9yr3af
(Hosted by Investec)
10:30 AM KIMS Hospitals
Dial: +91 22 6280 1259
Weblink: https://tinyurl.com/235ma2z5
11:00 AM Kansai Nerolac
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/3nybwh86
11:00 AM HG Infra Engg
Dial: +91 22 6280 1557
Weblink: https://tinyurl.com/35nkw45d
11:15 AM Thermax
Dial: +91 22 6280 1384
Weblink: https://tinyurl.com/2h2axhc5
11:30 AM HIL
Dial: +91 22 6280 1141
Weblink: https://tinyurl.com/y444bbzv
11:30 AM ZF Commercial Vehicle Control Systems
Dial: +91 22 6280 1222
Weblink: https://tinyurl.com/2hpv96un
11:30 AM NOCIL
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/5ebteprp
12:00 PM Britannia
Dial: +91 22 6280 1313
Weblink: https://tinyurl.com/yc35stc9
12:00 PM KRBL
Dial: +91 22 6280 1388
Weblink: https://tinyurl.com/mx6d2k5m
12:30 PM Enviro Infra En
Dial: +91 22 6280 1102
Weblink: https://tinyurl.com/y4nkw2mm
1:00 PM Gujarat Gas
Dial: +91 22 6280 1354
Weblink: https://tinyurl.com/ypc3t3u2
1:00 PM Rupa and Comp
Dial: +91 22 6280 1550
Weblink: https://tinyurl.com/2s3hsdc4
2:00 PM Bikaji Foods
Dial: +91 22 6280 1268
Weblink: https://tinyurl.com/mw87xbuf
2:00 PM Remsons Inds
Dial: +91 22 6280 1557
Weblink: https://tinyurl.com/2fpams23
2:30 PM Bharti Airtel
Weblink: https://tinyurl.com/2p6ku778
2:30 PM BHARTI HEXACOM
Weblink: https://tinyurl.com/2p6ku778
2:30 PM TD Power System
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/5n6kywba
2:30 PM Dhampur Sugar
Dial: +91 22 6280 1480
Weblink: https://tinyurl.com/4383wwwj
3:30 PM Apollo Tyres
No Contact Available
Please check again for details @ www.researchbytes.com
4:00 PM M&M
Weblink: https://tinyurl.com/43pk538k
4:00 PM Aarti Pharmalab
Dial: +91 22 6280 1341
Weblink: https://tinyurl.com/5a3w4vrd
(Hosted by Valorem)
4:00 PM PSP Projects
Dial: +91 22 6280 1107
Weblink: https://tinyurl.com/536brw6p
4:00 PM PI Industries
Dial: +91 22 6280 1141
Weblink: https://tinyurl.com/f9xz6y9d
4:00 PM Ester Ind
Dial: +91 22 6280 1141
Weblink: https://tinyurl.com/2r3rxav6
4:00 PM JK Lakshmi Cem
Dial: +91 22 6280 1143
Weblink: https://tinyurl.com/2u52fa5a
4:00 PM Akums Drugs
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/bd7936z7
4:00 PM NAVA Ltd.
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/57mtxpnh
4:00 PM Alkem Lab
Dial: +91 22 6280 1149
Weblink: https://tinyurl.com/2cekcctb
4:00 PM Max India
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/3h86yjdm
4:00 PM Sahyadri Inds
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/mr4adj44
4:00 PM MOLDTKPAC
Dial: +91 22 6280 1325
Weblink: https://tinyurl.com/5n8wvff3
4:00 PM Whirlpool
(Results, Press Release )
Dial: +91 22 6280 1341
Weblink: https://tinyurl.com/m9bxeeb2
4:00 PM Cholamandalam
Dial: +91 22 6280 1384
Weblink: https://tinyurl.com/3dey45nc
4:00 PM Uniparts India
Dial: +91 22 6280 1557
Weblink: https://tinyurl.com/39p7y7nn
4:30 PM Sai Life Sciences Limited
Dial: +91 22 6280 1107
Weblink: https://tinyurl.com/jnvx3pvu
4:30 PM Sobha
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/ypbfp665
4:30 PM AIA Engineering
Dial: +91 22 6280 1282
4:30 PM Gulf Oil Lubric
Dial: +91 22 6280 1297
Weblink: https://tinyurl.com/2prkkf53
5:00 PM Caplin Point Lab
Dial: +91 22 6280 1149
Weblink: https://tinyurl.com/ywp553za
5:00 PM DreamFolks
Dial: +91 22 6280 1107
Weblink: https://tinyurl.com/3evnrjme
5:00 PM Mazagon Dock Ltd
Dial: +91 22 6280 1304
Weblink: https://tinyurl.com/ucmcuu3b
As of 06:37 AM Friday 07 February 2025
8:30 AM Aurobindo Pharm
Weblink: https://tinyurl.com/27u2e697
9:00 AM REC
Dial: +91 22 6280 1224
9:00 AM Greenply
Dial: +91 22 6280 1317
Weblink: https://tinyurl.com/yc8n3pep
9:30 AM India Shelter Fin corp
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/4f5wax3s
10:00 AM PG Electroplast
Dial: +91 22 6280 1145
Weblink: https://tinyurl.com/2drt6b8x
10:00 AM Cummins
Dial: +91 22 6280 1164
Weblink: https://tinyurl.com/4rethxjr
10:00 AM Muthoot Microfin Limited
Dial: +91 22 6280 1366
Weblink: https://tinyurl.com/4bjt2bmy
10:30 AM Hero Motocorp
Dial: +91 22 6280 1245
Weblink: https://tinyurl.com/2j9yr3af
(Hosted by Investec)
10:30 AM KIMS Hospitals
Dial: +91 22 6280 1259
Weblink: https://tinyurl.com/235ma2z5
11:00 AM Kansai Nerolac
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/3nybwh86
11:00 AM HG Infra Engg
Dial: +91 22 6280 1557
Weblink: https://tinyurl.com/35nkw45d
11:15 AM Thermax
Dial: +91 22 6280 1384
Weblink: https://tinyurl.com/2h2axhc5
11:30 AM HIL
Dial: +91 22 6280 1141
Weblink: https://tinyurl.com/y444bbzv
11:30 AM ZF Commercial Vehicle Control Systems
Dial: +91 22 6280 1222
Weblink: https://tinyurl.com/2hpv96un
11:30 AM NOCIL
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/5ebteprp
12:00 PM Britannia
Dial: +91 22 6280 1313
Weblink: https://tinyurl.com/yc35stc9
12:00 PM KRBL
Dial: +91 22 6280 1388
Weblink: https://tinyurl.com/mx6d2k5m
12:30 PM Enviro Infra En
Dial: +91 22 6280 1102
Weblink: https://tinyurl.com/y4nkw2mm
1:00 PM Gujarat Gas
Dial: +91 22 6280 1354
Weblink: https://tinyurl.com/ypc3t3u2
1:00 PM Rupa and Comp
Dial: +91 22 6280 1550
Weblink: https://tinyurl.com/2s3hsdc4
2:00 PM Bikaji Foods
Dial: +91 22 6280 1268
Weblink: https://tinyurl.com/mw87xbuf
2:00 PM Remsons Inds
Dial: +91 22 6280 1557
Weblink: https://tinyurl.com/2fpams23
2:30 PM Bharti Airtel
Weblink: https://tinyurl.com/2p6ku778
2:30 PM BHARTI HEXACOM
Weblink: https://tinyurl.com/2p6ku778
2:30 PM TD Power System
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/5n6kywba
2:30 PM Dhampur Sugar
Dial: +91 22 6280 1480
Weblink: https://tinyurl.com/4383wwwj
3:30 PM Apollo Tyres
No Contact Available
Please check again for details @ www.researchbytes.com
4:00 PM M&M
Weblink: https://tinyurl.com/43pk538k
4:00 PM Aarti Pharmalab
Dial: +91 22 6280 1341
Weblink: https://tinyurl.com/5a3w4vrd
(Hosted by Valorem)
4:00 PM PSP Projects
Dial: +91 22 6280 1107
Weblink: https://tinyurl.com/536brw6p
4:00 PM PI Industries
Dial: +91 22 6280 1141
Weblink: https://tinyurl.com/f9xz6y9d
4:00 PM Ester Ind
Dial: +91 22 6280 1141
Weblink: https://tinyurl.com/2r3rxav6
4:00 PM JK Lakshmi Cem
Dial: +91 22 6280 1143
Weblink: https://tinyurl.com/2u52fa5a
4:00 PM Akums Drugs
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/bd7936z7
4:00 PM NAVA Ltd.
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/57mtxpnh
4:00 PM Alkem Lab
Dial: +91 22 6280 1149
Weblink: https://tinyurl.com/2cekcctb
4:00 PM Max India
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/3h86yjdm
4:00 PM Sahyadri Inds
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/mr4adj44
4:00 PM MOLDTKPAC
Dial: +91 22 6280 1325
Weblink: https://tinyurl.com/5n8wvff3
4:00 PM Whirlpool
(Results, Press Release )
Dial: +91 22 6280 1341
Weblink: https://tinyurl.com/m9bxeeb2
4:00 PM Cholamandalam
Dial: +91 22 6280 1384
Weblink: https://tinyurl.com/3dey45nc
4:00 PM Uniparts India
Dial: +91 22 6280 1557
Weblink: https://tinyurl.com/39p7y7nn
4:30 PM Sai Life Sciences Limited
Dial: +91 22 6280 1107
Weblink: https://tinyurl.com/jnvx3pvu
4:30 PM Sobha
Dial: +91 22 6280 1144
Weblink: https://tinyurl.com/ypbfp665
4:30 PM AIA Engineering
Dial: +91 22 6280 1282
4:30 PM Gulf Oil Lubric
Dial: +91 22 6280 1297
Weblink: https://tinyurl.com/2prkkf53
5:00 PM Caplin Point Lab
Dial: +91 22 6280 1149
Weblink: https://tinyurl.com/ywp553za
5:00 PM DreamFolks
Dial: +91 22 6280 1107
Weblink: https://tinyurl.com/3evnrjme
5:00 PM Mazagon Dock Ltd
Dial: +91 22 6280 1304
Weblink: https://tinyurl.com/ucmcuu3b
5:00 PM ZAGGLE PREPAID OCEAN SERVICES
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/bdfz7ck9
5:00 PM Firstsource Sol
Dial: +91 22 6280 1356
Weblink: https://tinyurl.com/6fmacvw7
5:30 PM Akzo Nobel
Weblink: https://tinyurl.com/3n9wf98s
5:30 PM Latent View Ana
Dial: +91 22 6280 1107
Weblink: https://tinyurl.com/huem3rsk
5:30 PM Fortis Health
Dial: +91 22 6280 1307
Weblink: https://tinyurl.com/369pae3a
5:30 PM Rishabh Instrum
Dial: +91 22 6280 1384
Weblink: https://tinyurl.com/wvtn8nwh
6:00 PM Delhivery
Weblink: https://tinyurl.com/yntsxzbt
7:00 PM Life Insurance Corpn Of I
Dial: +91 22 6280 1281
Weblink: https://tinyurl.com/43956zna
Dial: +91 22 6280 1309
Weblink: https://tinyurl.com/bdfz7ck9
5:00 PM Firstsource Sol
Dial: +91 22 6280 1356
Weblink: https://tinyurl.com/6fmacvw7
5:30 PM Akzo Nobel
Weblink: https://tinyurl.com/3n9wf98s
5:30 PM Latent View Ana
Dial: +91 22 6280 1107
Weblink: https://tinyurl.com/huem3rsk
5:30 PM Fortis Health
Dial: +91 22 6280 1307
Weblink: https://tinyurl.com/369pae3a
5:30 PM Rishabh Instrum
Dial: +91 22 6280 1384
Weblink: https://tinyurl.com/wvtn8nwh
6:00 PM Delhivery
Weblink: https://tinyurl.com/yntsxzbt
7:00 PM Life Insurance Corpn Of I
Dial: +91 22 6280 1281
Weblink: https://tinyurl.com/43956zna
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*News Headlines from Business News Agencies: *
*Business Standard*
📝 Increase in MSME financing right step to boost biogas industry, says IBA
📝 Rajnath Singh to inaugurate 'India Pavillion' at Aero India 2025 on Feb 10
📝 India's pharma exports set for 10x growth, targeting $350 billion by 2047
📝 Indian investors show interest in Saudi Arabia's $63 bn Diriyah project
📝 Maruti Suzuki to boost charging infra to position e VITARA as primary car
📝 M&M aims to boost tractor sales in US, Japan amid headwinds in markets
📝 Signature Global Q3 results: Net debt drops 29% to Rs 720 cr on high sales
📝 Failed privatisation bids, pacts: ONGC's Mumbai High finds hope in BP deal
📝 NaBFID to raise Rs 30,000 cr during Q4 for funding infra projects: MD
📝 Coal India's expenditure on CSR initiatives rises 37% in Apr-Jan: Official
📝 Canada aims to strengthen EU trade ties amid tariff threats from Trump
📝 Cube Highways InvIT buys two road assets at enterprise value of Rs 4,184 cr
*Economic Times*
📝 Saudi’s $63 billion ‘City of Earth’ giga project attracts Indian giants including Tata & Oberoi groups
📝 RBI monetary policy in sync with Budget to support economic growth
📝 Delhi election: 80% of total candidates, including 67 Congress leaders, lose deposits
📝 Nykaa Q3 Results Preview: PAT to more than double on strong BPC growth
📝 India's total trade to reach USD 1.8 trillion by 2033, growing at 6.4% CAGR: Report
📝 India's CDMO market set to double by 2028 amid Asia's healthcare boom
📝 Trump's AI ambition, China's DeepSeek overshadow AI summit in Paris
📝 FPIs' incessant selling continues; withdraw Rs 7,300 cr from equities in a week
📝 Bajaj Auto to ride into e-rickshaw segment by end of FY24
📝 MCX revises trading hours from March 10 due to US daylight saving time
📝 India aims USD 10 billion worth of technical textile exports: MoS Pabitra Margherita
*Mint*
📝 New Income Tax Bill to be concise with nearly 30 percent fewer sections: Report
📝 OYO net profit rises to ₹166 crore in Q3, EBITDA at ₹249 crore: Report
📝 Elon Musk alleges US govt payment systems have ‘potential $100bn fraud annually’
📝 HDFC Bank hikes MLCR rate for overnight tenure by 5 bps to 9.20%
📝 NCLT recalls insolvency order against Logix Infra, cites 'fraudulent and mala fide' intentions
📝 Sebi mulls changes in secretarial compliance report format, auditors' appointment norms for cos
📝 Brainbees Solutions Q3: FirstCry parent narrows net loss by 70% to ₹14.7 crore
📝 HCL Infosystems narrows losses to ₹5.25 cr in Q3
📝 Hindustan Copper Q3 results: Net profit falls marginally to ₹62.9 crore
📝 RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM
📝 NASA is an obvious target for Elon Musk’s axe
📝 German firm BIKAR starts production at newly set up Belagavi facility
*Business Standard*
📝 Increase in MSME financing right step to boost biogas industry, says IBA
📝 Rajnath Singh to inaugurate 'India Pavillion' at Aero India 2025 on Feb 10
📝 India's pharma exports set for 10x growth, targeting $350 billion by 2047
📝 Indian investors show interest in Saudi Arabia's $63 bn Diriyah project
📝 Maruti Suzuki to boost charging infra to position e VITARA as primary car
📝 M&M aims to boost tractor sales in US, Japan amid headwinds in markets
📝 Signature Global Q3 results: Net debt drops 29% to Rs 720 cr on high sales
📝 Failed privatisation bids, pacts: ONGC's Mumbai High finds hope in BP deal
📝 NaBFID to raise Rs 30,000 cr during Q4 for funding infra projects: MD
📝 Coal India's expenditure on CSR initiatives rises 37% in Apr-Jan: Official
📝 Canada aims to strengthen EU trade ties amid tariff threats from Trump
📝 Cube Highways InvIT buys two road assets at enterprise value of Rs 4,184 cr
*Economic Times*
📝 Saudi’s $63 billion ‘City of Earth’ giga project attracts Indian giants including Tata & Oberoi groups
📝 RBI monetary policy in sync with Budget to support economic growth
📝 Delhi election: 80% of total candidates, including 67 Congress leaders, lose deposits
📝 Nykaa Q3 Results Preview: PAT to more than double on strong BPC growth
📝 India's total trade to reach USD 1.8 trillion by 2033, growing at 6.4% CAGR: Report
📝 India's CDMO market set to double by 2028 amid Asia's healthcare boom
📝 Trump's AI ambition, China's DeepSeek overshadow AI summit in Paris
📝 FPIs' incessant selling continues; withdraw Rs 7,300 cr from equities in a week
📝 Bajaj Auto to ride into e-rickshaw segment by end of FY24
📝 MCX revises trading hours from March 10 due to US daylight saving time
📝 India aims USD 10 billion worth of technical textile exports: MoS Pabitra Margherita
*Mint*
📝 New Income Tax Bill to be concise with nearly 30 percent fewer sections: Report
📝 OYO net profit rises to ₹166 crore in Q3, EBITDA at ₹249 crore: Report
📝 Elon Musk alleges US govt payment systems have ‘potential $100bn fraud annually’
📝 HDFC Bank hikes MLCR rate for overnight tenure by 5 bps to 9.20%
📝 NCLT recalls insolvency order against Logix Infra, cites 'fraudulent and mala fide' intentions
📝 Sebi mulls changes in secretarial compliance report format, auditors' appointment norms for cos
📝 Brainbees Solutions Q3: FirstCry parent narrows net loss by 70% to ₹14.7 crore
📝 HCL Infosystems narrows losses to ₹5.25 cr in Q3
📝 Hindustan Copper Q3 results: Net profit falls marginally to ₹62.9 crore
📝 RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM
📝 NASA is an obvious target for Elon Musk’s axe
📝 German firm BIKAR starts production at newly set up Belagavi facility
Corporate Actions
Dividend
10-Feb-25
INDTONER: Interim Dividend - Rs. - 4.50
GPTINFRA: Interim Dividend - Rs. - 1.00
ASTERDM: Interim Dividend - Rs. - 4.00
SURAJLTD: Interim Dividend - Rs. - 1.50
11-Feb-25
CMSINFO: Interim Dividend - Rs. - 3.25
DISAQ: Interim Dividend - Rs. - 100.00
SYMPHONY: Interim Dividend - Rs. - 2.00
12-Feb-25
EXPLEOSOL: Interim Dividend - Rs. - 50.00
HEROMOTOCO: Interim Dividend - Rs. - 100.00
UNIPARTS: Interim Dividend - Rs. - 7.50
ITC: Interim Dividend - Rs. - 6.50
TORNTPOWER: Interim Dividend - Rs. - 14.00
TCIEXP: Interim Dividend - Rs. - 3.00
COCHINSHIP: Interim Dividend - Rs. - 3.50
MANINFRA: Interim Dividend - Rs. - 0.45
MINDACORP: Interim Dividend - Rs. - 0.50
UNOMINDA: Interim Dividend - Rs. - 0.75
13-Feb-25
VEEDOL: Interim Dividend - Rs. - 12.00
ERIS: Interim Dividend
PAGEIND: Interim Dividend
SUNTV: Interim Dividend
IPO
Ajax Engineering: Open: 10-Feb-25; Close: 12-Feb-24
Hexaware Technologies: Open: 12-Feb-25; Close: 14-Feb-24
Buyback
---
Bonus
EFC (I): Bonus Issue 1:1; Ex-Date: 11-Feb-25
Richfield Financial Services: Bonus Issue 1:1; Ex-Date: 14-Feb-25
Stock Split
T T Ltd.: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 12-Feb-25
Ascensive Educare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 14-Feb-25
Capital India Finance: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 17-Feb-25
Conart Engineers: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 19-Feb-25
Right Issue
Jyoti Structures: Ex-Date: 10-Feb-25
ETT: Ex-Date: 11-Feb-25
Thangamayil Jewellery: Ex-Date: 11-Feb-25
Kairosoft AI Solutions: Ex-Date: 11-Feb-25
Sharanam Infraproject And Trading: Open: 13-Jan-25; Close: 10-Feb-24
Ultracab (India): Open: 28-Jan-25; Close: 11-Feb-24
GTT Data Solutions: Open: 27-Jan-25; Close: 18-Feb-24
Iel: Open: 04-Feb-25; Close: 21-Feb-24
Jyoti Structures: Open: 17-Feb-25; Close: 03-Mar-24
Thangamayil Jewellery: Open: 21-Feb-25; Close: 04-Mar-24
Harshil Agrotech: Open: 18-Feb-25; Close: 17-Mar-24
Open Offer
LKP Finance: Open: 29-Jan-25; Close: 11-Feb-24
Religare Enterprises: Open: 27-Jan-25; Close: 12-Feb-24
Dividend
10-Feb-25
INDTONER: Interim Dividend - Rs. - 4.50
GPTINFRA: Interim Dividend - Rs. - 1.00
ASTERDM: Interim Dividend - Rs. - 4.00
SURAJLTD: Interim Dividend - Rs. - 1.50
11-Feb-25
CMSINFO: Interim Dividend - Rs. - 3.25
DISAQ: Interim Dividend - Rs. - 100.00
SYMPHONY: Interim Dividend - Rs. - 2.00
12-Feb-25
EXPLEOSOL: Interim Dividend - Rs. - 50.00
HEROMOTOCO: Interim Dividend - Rs. - 100.00
UNIPARTS: Interim Dividend - Rs. - 7.50
ITC: Interim Dividend - Rs. - 6.50
TORNTPOWER: Interim Dividend - Rs. - 14.00
TCIEXP: Interim Dividend - Rs. - 3.00
COCHINSHIP: Interim Dividend - Rs. - 3.50
MANINFRA: Interim Dividend - Rs. - 0.45
MINDACORP: Interim Dividend - Rs. - 0.50
UNOMINDA: Interim Dividend - Rs. - 0.75
13-Feb-25
VEEDOL: Interim Dividend - Rs. - 12.00
ERIS: Interim Dividend
PAGEIND: Interim Dividend
SUNTV: Interim Dividend
IPO
Ajax Engineering: Open: 10-Feb-25; Close: 12-Feb-24
Hexaware Technologies: Open: 12-Feb-25; Close: 14-Feb-24
Buyback
---
Bonus
EFC (I): Bonus Issue 1:1; Ex-Date: 11-Feb-25
Richfield Financial Services: Bonus Issue 1:1; Ex-Date: 14-Feb-25
Stock Split
T T Ltd.: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 12-Feb-25
Ascensive Educare: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 14-Feb-25
Capital India Finance: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 17-Feb-25
Conart Engineers: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 19-Feb-25
Right Issue
Jyoti Structures: Ex-Date: 10-Feb-25
ETT: Ex-Date: 11-Feb-25
Thangamayil Jewellery: Ex-Date: 11-Feb-25
Kairosoft AI Solutions: Ex-Date: 11-Feb-25
Sharanam Infraproject And Trading: Open: 13-Jan-25; Close: 10-Feb-24
Ultracab (India): Open: 28-Jan-25; Close: 11-Feb-24
GTT Data Solutions: Open: 27-Jan-25; Close: 18-Feb-24
Iel: Open: 04-Feb-25; Close: 21-Feb-24
Jyoti Structures: Open: 17-Feb-25; Close: 03-Mar-24
Thangamayil Jewellery: Open: 21-Feb-25; Close: 04-Mar-24
Harshil Agrotech: Open: 18-Feb-25; Close: 17-Mar-24
Open Offer
LKP Finance: Open: 29-Jan-25; Close: 11-Feb-24
Religare Enterprises: Open: 27-Jan-25; Close: 12-Feb-24
👍1
*News Headlines from Business News Agencies:*
*Business Standard*
📝 US tariffs will not impact Indian steel industry much: Steel Secy
📝 Rolls-Royce to double sourcing from India over the next five years
📝 Smartworld Developers awards Rs 532 cr contract to Varindera Constructions
📝 Govt bond yields edge higher as investors grapple with policy setback
📝 Venturi Partners invests $25 million in affordable footwear brand JQR
📝 IHCL to invest Rs 2,500 crore to develop new 330-room property in Mumbai
📝 Anil Ambani's R-Infra settles dispute with CPL for Rs 6,503 crore
📝 Boeing signals more orders needed before setting up assembly line in India
📝 GAIL revives plan to buy US LNG as Trump ends ban on export permits
📝 Action against banks, NBFCs if they violate gold auction norms: Sitharaman
📝 LNG buyers including IOC negotiate US deals ahead of PM Modi-Trump summit
📝 Juniper Green Energy secures $1 billion fund in phased debt financing
*Economic Times*
📝 Due diligence of qualified bidders for IDBI Bank underway: MoS Finance
📝 PNC Infratech eligible to bid for new projects as MoRTH lifts restrictions
📝 Nokia names Intel's AI head to replace CEO
📝 Kalpataru inks 7.5-acre Mumbai redevelopment deals with Rs 2,000 cr revenue
📝 Peak XV Partners trims 1% stake in SaaS firm Freshworks for $51.5 million
📝 Baldota Group to set up Rs 54,000 crore integrated steel plant in Karnataka
📝 Tata Boeing Aerospace delivers 300 AH-64 Apache fuselages manufactured in Hyderabad facility
📝 Reliance enters sports drinks market with 'Spinner' priced at Rs 10
📝 Biovet gets CDSCO nod for lumpy skin disease vaccine
📝 Bhanushali Studios appoints Neeraj Vyas as CEO to drive expansion
📝 Sanofi launches Rezurock against chronic Graft-versus-host disease in India
📝 Glenmark, Cosmo get MHRA nod for acne treatment medication
*Mint*
📝 India's branded hotel rooms inventory to cross 300,000 by 2029: Report
📝 Delhivery expects rapid commerce business to generate ₹80-100 crore
📝 Larsen & Toubro bags Oman railway facility contract
📝 NCLT asks BCCI to seek creditors' nod for ₹158 crore Byju’s settlement
📝 Mistral and Helsing join forces to advance AI in military technology
📝 USD 100 bn FDI commitment under trade pact with EFTA can catalyse USD 400-500 bn investment: Goyal
📝 People’s drugs booster: Jan Aushadhi to add 10,000 stores by FY27
📝 Four listed REITs Q3 distribution to unitholders rises 17 pc to ₹1,505 cr
📝 GST evasion of ₹1.88 lakh cr detected by CGST officers during April-Dec 2024
📝 Varun Beverages Dec qtr profit up 36% to ₹196 crore
📝 Berger Paints to focus on sustainable growth, open to acquisitions: Chairman
📝 GenAI to boost India's IT industry's productivity by up to 45%, EY India survey shows
*Business Standard*
📝 US tariffs will not impact Indian steel industry much: Steel Secy
📝 Rolls-Royce to double sourcing from India over the next five years
📝 Smartworld Developers awards Rs 532 cr contract to Varindera Constructions
📝 Govt bond yields edge higher as investors grapple with policy setback
📝 Venturi Partners invests $25 million in affordable footwear brand JQR
📝 IHCL to invest Rs 2,500 crore to develop new 330-room property in Mumbai
📝 Anil Ambani's R-Infra settles dispute with CPL for Rs 6,503 crore
📝 Boeing signals more orders needed before setting up assembly line in India
📝 GAIL revives plan to buy US LNG as Trump ends ban on export permits
📝 Action against banks, NBFCs if they violate gold auction norms: Sitharaman
📝 LNG buyers including IOC negotiate US deals ahead of PM Modi-Trump summit
📝 Juniper Green Energy secures $1 billion fund in phased debt financing
*Economic Times*
📝 Due diligence of qualified bidders for IDBI Bank underway: MoS Finance
📝 PNC Infratech eligible to bid for new projects as MoRTH lifts restrictions
📝 Nokia names Intel's AI head to replace CEO
📝 Kalpataru inks 7.5-acre Mumbai redevelopment deals with Rs 2,000 cr revenue
📝 Peak XV Partners trims 1% stake in SaaS firm Freshworks for $51.5 million
📝 Baldota Group to set up Rs 54,000 crore integrated steel plant in Karnataka
📝 Tata Boeing Aerospace delivers 300 AH-64 Apache fuselages manufactured in Hyderabad facility
📝 Reliance enters sports drinks market with 'Spinner' priced at Rs 10
📝 Biovet gets CDSCO nod for lumpy skin disease vaccine
📝 Bhanushali Studios appoints Neeraj Vyas as CEO to drive expansion
📝 Sanofi launches Rezurock against chronic Graft-versus-host disease in India
📝 Glenmark, Cosmo get MHRA nod for acne treatment medication
*Mint*
📝 India's branded hotel rooms inventory to cross 300,000 by 2029: Report
📝 Delhivery expects rapid commerce business to generate ₹80-100 crore
📝 Larsen & Toubro bags Oman railway facility contract
📝 NCLT asks BCCI to seek creditors' nod for ₹158 crore Byju’s settlement
📝 Mistral and Helsing join forces to advance AI in military technology
📝 USD 100 bn FDI commitment under trade pact with EFTA can catalyse USD 400-500 bn investment: Goyal
📝 People’s drugs booster: Jan Aushadhi to add 10,000 stores by FY27
📝 Four listed REITs Q3 distribution to unitholders rises 17 pc to ₹1,505 cr
📝 GST evasion of ₹1.88 lakh cr detected by CGST officers during April-Dec 2024
📝 Varun Beverages Dec qtr profit up 36% to ₹196 crore
📝 Berger Paints to focus on sustainable growth, open to acquisitions: Chairman
📝 GenAI to boost India's IT industry's productivity by up to 45%, EY India survey shows
Earnings To Watch
Ahluwalia Contracts (India), Ashiana Housing, Astrazeneca Pharma India, Awfis Space Solutions, Bayer Cropscience, Berger Paints India, BLS International Services, Birlasoft, Campus Activewear, Cello World, Cera Sanitaryware, Dalmia Bharat Sugar and Industries, Devyani International, EID-Parry (India), EIH, EPL, Gensol Engineering, Gujarat Alkalies & Chemicals, HEG, Huhtamaki India, Indo Count Industries, Vodafone Idea, Igarashi Motors India, IIFL Capital Services, IRCON International, IRCTC, Johnson Controls-Hitachi Air Conditioning India, Juniper Hotels, Kirloskar Oil Engines, Kolte-Patil Developers, Lupin, Marksans Pharma, MOIL, NBCC (India), Procter & Gamble Hygiene & Health Care, Prince Pipes and Fittings, Shree Renuka Sugars, Rhi Magnesita India, Keystone Realtors, SAIL, Sammaan Capital, Schneider Electric Infrastructure, Sequent Scientific, Tata Investment Corporation, Techno Electric and Engineering Company, Technocraft Industries (India), Time Technoplast.
Ahluwalia Contracts (India), Ashiana Housing, Astrazeneca Pharma India, Awfis Space Solutions, Bayer Cropscience, Berger Paints India, BLS International Services, Birlasoft, Campus Activewear, Cello World, Cera Sanitaryware, Dalmia Bharat Sugar and Industries, Devyani International, EID-Parry (India), EIH, EPL, Gensol Engineering, Gujarat Alkalies & Chemicals, HEG, Huhtamaki India, Indo Count Industries, Vodafone Idea, Igarashi Motors India, IIFL Capital Services, IRCON International, IRCTC, Johnson Controls-Hitachi Air Conditioning India, Juniper Hotels, Kirloskar Oil Engines, Kolte-Patil Developers, Lupin, Marksans Pharma, MOIL, NBCC (India), Procter & Gamble Hygiene & Health Care, Prince Pipes and Fittings, Shree Renuka Sugars, Rhi Magnesita India, Keystone Realtors, SAIL, Sammaan Capital, Schneider Electric Infrastructure, Sequent Scientific, Tata Investment Corporation, Techno Electric and Engineering Company, Technocraft Industries (India), Time Technoplast.
🇮🇳 *India Daybook – Stocks in News*
*Nykaa:* Net Profit at Rs 26.41 Cr vs Rs 16 Cr, Revenue at Rs 2267 Cr vs Rs 1789 Cr (YoY) (Positive)
*Avanti Feeds:* Net Profit at Rs 135.2 Cr Vs Rs 72.5 Cr, Revenue at Rs 1365.8 Cr Vs Rs 1253.2 Cr (YoY) (Positive)
*GSFC:* Net Profit at Rs 133.9 Cr Vs Rs 118 Cr, Revenue at Rs 2814 Cr Vs Rs 2007 Cr (Positive)
*Hariom Pipes:* Net Profit at Rs 11.2 Cr Vs Rs 9.8 Cr, Revenue at Rs 299 Cr Vs Rs 280 Cr (YoY) (Positive)
*Neuland Laboratories:* Net profit at Rs 121 Cr Vs Rs 81.4 Cr, Revenue at Rs 398 Cr Vs Rs 393 Cr (YoY) (Positive)
*Force Motors:* Net profit at Rs 115.3 Cr Vs Rs 85.4 Cr, Revenue at Rs 1890 Cr Vs Rs 1692 Cr (YoY) (Positive)
*Bodal Chem:* Net profit at Rs. 5.4 cr vs Rs 0.9 cr, Revenue at Rs. 443 cr vs Rs 338 cr (YoY) (Positive)
*ICRA:* Net profit at Rs. 42 cr vs Rs 32 cr, Revenue at Rs. 121 cr vs Rs 114 cr (YoY) (Positive)
*HLE Glasscoat:* Net profit at Rs. 10.3 cr vs Rs 6.3 cr, Revenue at Rs. 231 cr vs Rs 239 cr (YoY) (Positive)
*Smartlink:* Net profit at Rs 1.5 cr vs Rs 0.3 cr, Revenue at Rs. 29.6 cr vs Rs 17.0 cr (YoY) (Positive)
*BLS E services:* Net profit at Rs 14 cr vs Rs 7.8 cr, Revenue at Rs. 127 cr vs Rs 71 cr (YoY) (Positive)
*Transrail:* Net profit at Rs. 93 cr vs Rs 48 cr, Revenue at Rs. 1340 cr vs Rs 823 cr (YoY) (Positive)
*Genus Power:* Net profit at Rs. 56.7 cr vs loss Rs 9.9 cr, Revenue at Rs. 604 cr vs Rs 259 cr (YoY) (Positive)
*Responsive Ind:* Net profit at Rs. 47.0 cr vs Rs 44.0 cr, Revenue at Rs. 368 cr vs Rs 267 cr (YoY) (Positive)
*Hariom Pipes:* Net profit at Rs. 11.2 cr vs Rs 9.8 cr, Revenue at Rs. 300 cr vs Rs 280 cr (YoY) (Positive)
*Hindustan Composite:* Net Profit at Rs. 10.9 cr vs Rs 6.4 cr, Revenue at Rs. 81.8 cr vs Rs 71.7 cr (YoY) (Positive)
*National Aluminum:* Net Profit at Rs. 1566 cr vs poll Rs 1387 cr, Revenue at Rs. 4660 cr vs polls Rs 4565 cr (YoY) (Positive)
*Zodiac Energy:* Net Profit at Rs. 5.7 cr vs Rs 2.9 cr, Revenue at Rs. 104 cr vs Rs 47 cr (YoY) (Positive)
*Cantabil:* Net Profit at Rs. 34.4 cr vs Rs 24.0 cr, Revenue at Rs. 223 cr vs Rs 174 cr (YoY) (Positive)
*DDEV:* Net Profit at Rs. 46.6 cr vs Rs 40.0 cr, Revenue at Rs. 660 cr vs Rs 553 cr (YoY) (Positive)
*Patanjali Foods:* Net Profit at Rs. 371.0 cr vs Rs 217 cr, Revenue at Rs. 9103 cr vs Rs 8154 cr (YoY) (Positive)
*Signature:* Net Profit at Rs. 29.2 cr vs Rs 2.1 cr, Revenue at Rs. 827 cr vs Rs 282 cr (YoY) (Positive)
*MTAR Tech:* Profit before tax at Rs. 16 cr vs Rs 10 cr, Revenue at Rs. 175 cr vs Rs 118 cr (YoY) (Positive)
*Dynamatic Technologies:* Company and Deutsche Aircraft Collaborate at Aero India 2025 (Positive)
*Shriram Properties:* Company signs joint development agreement to develop a land at Koyambedu, Chennai. (Positive)
*Lupin:* Company gets U.S. FDA approval for its Abbreviated New Drug Application for Ipratropium Bromide Nasal Solution (Positive)
*Sona BLW:* Company announces land acquisition worth Rs 110 crore (Positive)
*RVNL:* Company emerges lowest bidder for a South Western Railway project worth ₹335.4 crore (Positive)
*Mankind Pharma:* Company divests stake in Mahananda Spa to Chalet Hotels at Rs 530 crore Enterprise value (Positive)
*ONGC:* Company and BP forge strategic partnership to boost Mumbai high production (Positive)
*Chalet Hotels:* Company to add another jewel in its leisure portfolio with the acquisition of The Westin Resort & Spa, Himalayas at Rishikesh (Positive)
*Nippon AMC:* Company and Nissay Asset Management, Japan join hands to provide access of Indian Capital Market to Japanese Investors (Positive)
*Escorts Kubota:* Net Profit at Rs 323.2 Cr vs poll Rs 284 Cr, Revenue at Rs 2935.4 Cr Vs Rs 2706.4 Cr (YoY) (Neutral)
*Eicher Motors:* Net profit at Rs 1171 Cr Vs poll of Rs 1125 Cr, Revenue at Rs 4973 Cr Vs poll of Rs 5026 Cr (Neutral)
*Nykaa:* Net Profit at Rs 26.41 Cr vs Rs 16 Cr, Revenue at Rs 2267 Cr vs Rs 1789 Cr (YoY) (Positive)
*Avanti Feeds:* Net Profit at Rs 135.2 Cr Vs Rs 72.5 Cr, Revenue at Rs 1365.8 Cr Vs Rs 1253.2 Cr (YoY) (Positive)
*GSFC:* Net Profit at Rs 133.9 Cr Vs Rs 118 Cr, Revenue at Rs 2814 Cr Vs Rs 2007 Cr (Positive)
*Hariom Pipes:* Net Profit at Rs 11.2 Cr Vs Rs 9.8 Cr, Revenue at Rs 299 Cr Vs Rs 280 Cr (YoY) (Positive)
*Neuland Laboratories:* Net profit at Rs 121 Cr Vs Rs 81.4 Cr, Revenue at Rs 398 Cr Vs Rs 393 Cr (YoY) (Positive)
*Force Motors:* Net profit at Rs 115.3 Cr Vs Rs 85.4 Cr, Revenue at Rs 1890 Cr Vs Rs 1692 Cr (YoY) (Positive)
*Bodal Chem:* Net profit at Rs. 5.4 cr vs Rs 0.9 cr, Revenue at Rs. 443 cr vs Rs 338 cr (YoY) (Positive)
*ICRA:* Net profit at Rs. 42 cr vs Rs 32 cr, Revenue at Rs. 121 cr vs Rs 114 cr (YoY) (Positive)
*HLE Glasscoat:* Net profit at Rs. 10.3 cr vs Rs 6.3 cr, Revenue at Rs. 231 cr vs Rs 239 cr (YoY) (Positive)
*Smartlink:* Net profit at Rs 1.5 cr vs Rs 0.3 cr, Revenue at Rs. 29.6 cr vs Rs 17.0 cr (YoY) (Positive)
*BLS E services:* Net profit at Rs 14 cr vs Rs 7.8 cr, Revenue at Rs. 127 cr vs Rs 71 cr (YoY) (Positive)
*Transrail:* Net profit at Rs. 93 cr vs Rs 48 cr, Revenue at Rs. 1340 cr vs Rs 823 cr (YoY) (Positive)
*Genus Power:* Net profit at Rs. 56.7 cr vs loss Rs 9.9 cr, Revenue at Rs. 604 cr vs Rs 259 cr (YoY) (Positive)
*Responsive Ind:* Net profit at Rs. 47.0 cr vs Rs 44.0 cr, Revenue at Rs. 368 cr vs Rs 267 cr (YoY) (Positive)
*Hariom Pipes:* Net profit at Rs. 11.2 cr vs Rs 9.8 cr, Revenue at Rs. 300 cr vs Rs 280 cr (YoY) (Positive)
*Hindustan Composite:* Net Profit at Rs. 10.9 cr vs Rs 6.4 cr, Revenue at Rs. 81.8 cr vs Rs 71.7 cr (YoY) (Positive)
*National Aluminum:* Net Profit at Rs. 1566 cr vs poll Rs 1387 cr, Revenue at Rs. 4660 cr vs polls Rs 4565 cr (YoY) (Positive)
*Zodiac Energy:* Net Profit at Rs. 5.7 cr vs Rs 2.9 cr, Revenue at Rs. 104 cr vs Rs 47 cr (YoY) (Positive)
*Cantabil:* Net Profit at Rs. 34.4 cr vs Rs 24.0 cr, Revenue at Rs. 223 cr vs Rs 174 cr (YoY) (Positive)
*DDEV:* Net Profit at Rs. 46.6 cr vs Rs 40.0 cr, Revenue at Rs. 660 cr vs Rs 553 cr (YoY) (Positive)
*Patanjali Foods:* Net Profit at Rs. 371.0 cr vs Rs 217 cr, Revenue at Rs. 9103 cr vs Rs 8154 cr (YoY) (Positive)
*Signature:* Net Profit at Rs. 29.2 cr vs Rs 2.1 cr, Revenue at Rs. 827 cr vs Rs 282 cr (YoY) (Positive)
*MTAR Tech:* Profit before tax at Rs. 16 cr vs Rs 10 cr, Revenue at Rs. 175 cr vs Rs 118 cr (YoY) (Positive)
*Dynamatic Technologies:* Company and Deutsche Aircraft Collaborate at Aero India 2025 (Positive)
*Shriram Properties:* Company signs joint development agreement to develop a land at Koyambedu, Chennai. (Positive)
*Lupin:* Company gets U.S. FDA approval for its Abbreviated New Drug Application for Ipratropium Bromide Nasal Solution (Positive)
*Sona BLW:* Company announces land acquisition worth Rs 110 crore (Positive)
*RVNL:* Company emerges lowest bidder for a South Western Railway project worth ₹335.4 crore (Positive)
*Mankind Pharma:* Company divests stake in Mahananda Spa to Chalet Hotels at Rs 530 crore Enterprise value (Positive)
*ONGC:* Company and BP forge strategic partnership to boost Mumbai high production (Positive)
*Chalet Hotels:* Company to add another jewel in its leisure portfolio with the acquisition of The Westin Resort & Spa, Himalayas at Rishikesh (Positive)
*Nippon AMC:* Company and Nissay Asset Management, Japan join hands to provide access of Indian Capital Market to Japanese Investors (Positive)
*Escorts Kubota:* Net Profit at Rs 323.2 Cr vs poll Rs 284 Cr, Revenue at Rs 2935.4 Cr Vs Rs 2706.4 Cr (YoY) (Neutral)
*Eicher Motors:* Net profit at Rs 1171 Cr Vs poll of Rs 1125 Cr, Revenue at Rs 4973 Cr Vs poll of Rs 5026 Cr (Neutral)
*Apollo Hospitals:* Net profit at Rs 379 Cr Vs poll of Rs 347 Cr, Revenue at Rs 5526 Cr Vs poll of Rs 5538 Cr (Neutral)
*Bata India:* Net profit at Rs 59 Cr Vs poll of Rs 69 Cr, Revenue at Rs 919 Cr Vs poll of Rs 955 Cr (Neutral)
*Insecticides:* Net Profit at Rs 15.0 Cr Vs Rs 12.3 Cr, Revenue at Rs 360 Cr Vs Rs 358 Cr (YoY) (Neutral)
*Galaxy Surf:* Net Profit at Rs. 65 cr vs Rs 71 cr, Revenue at Rs. 1041 cr vs Rs 940 cr (YoY) (Neutral)
*Honda power:* Net profit at Rs 19 cr vs Rs 28 cr, Revenue at Rs. 214 cr vs Rs 263 cr (YoY) (Neutral)
*Gandhi Tubes:* Net profit at Rs.15 cr vs Rs 13 cr, Revenue at Rs 40 cr vs Rs 41 cr (YoY) (Neutral)
*Prakash Ind:* Net profit at Rs.83.7 cr vs Rs 80.6 cr, Revenue at Rs 925 cr vs Rs 885 cr (YoY) (Neutral)
*HBL:* Net profit at Rs. 64 cr vs Rs 79 cr, Revenue at Rs 450 cr vs Rs 599 cr (YoY) (Neutral)
*Balmer:* Net profit at Rs. 48.1 cr vs Rs 49.0 cr, Revenue at Rs 630 cr vs Rs 584 cr (YoY) (Neutral)
*Chaman lal:* Net profit at Rs. 29 cr vs Rs 38 cr, Revenue at Rs. 395 cr vs Rs 400 cr (YoY) (Neutral)
*E Mart:* Net profit at Rs. 32 cr vs Rs 46 cr, Revenue at Rs. 188 cr vs Rs 177 cr (YoY). (Neutral)
*Elgi Equipment:* Net profit at Rs. 90.4 cr vs Rs 84.3 cr, Revenue at Rs. 848 cr vs Rs 822 cr (YoY). (Neutral)
*Force Motors:* Net Profit at Rs 115.3 Cr Vs Rs 85.4 Cr, Revenue at Rs 1890 Cr Vs Rs 1692 Cr (YoY) (Neutral)
*Sansera:* Net Profit at Rs 55.6 Cr Vs Rs 48.0 Cr, Revenue at Rs 728 Cr Vs Rs 712 Cr (YoY) (Neutral)
*Escorts:* Board approves selling real estate properties worth Rs 110 cr. (Neutral)
*Mahindra Life:* Board Meeting to be held on 13-Feb-2025 to consider Fund raising (Neutral)
*Vedanta:* SC dismisses Vedanta’s appeal against Goa govt’s iron ore mine e-auction move: Economic Times. (Neutral)
*Hindalco*: Novelis adjusted EBITDA of US$ 367mn (-19% YoY, -21% QoQ), much lower than estimates
*National Fertilizers:* Net Profit at Rs 45.81 Cr Vs Rs 150.9 Cr, Revenue at Rs 5856 Cr Vs Rs 7584.3 Cr (YoY)
*GNFC:* Net profit at Rs 134 Cr Vs Rs 298 Cr, Revenue at Rs 2814 Cr Vs Rs 2635 Cr (QoQ)
*Shalimar Paints:* Net loss at Rs 24 cr vs Rs 11 cr, Revenue at Rs. 148 cr vs Rs 146 cr (YoY)
*Omaxe:* Net loss at Rs 150 cr vs Rs 71 cr, Revenue at Rs. 288 cr vs Rs 599 cr (YoY)
*Dharmaj Crop:* Net profit at Rs. 1.2 cr vs Rs 7.7 cr, Revenue at Rs. 174 cr vs Rs 123 cr (YoY).
*KCP Sugar:* Net loss at Rs 31.6 cr vs Rs 2.4 cr, Revenue at Rs 84 cr vs Rs 83 cr (YoY)
*ESAF:* Net loss at Rs 210 cr vs profit Rs 112 cr, Pre Provision Profit at Rs 127 cr vs Rs 288 cr (YoY)
*Snowman:* Net loss at Rs 0.6 cr vs profit Rs 4.2 cr, Revenue at Rs 131 cr vs Rs 124 cr (YoY)
*Satin Credit:* Net profit at Rs. 14.3 cr vs Rs 113.0 cr, Revenue at Rs. 564 cr vs Rs 498 cr (YoY).
*Grasim:* Net loss at Rs 169 Cr Vs poll of Rs 74 Cr, Revenue at Rs 8120 Cr Vs poll of Rs 8208 Cr.
*Syngene:* Jonathan Hunt stepped down as MD&CEO and from the Board of Directors to pursue other opportunities.
*Bata India:* Net profit at Rs 59 Cr Vs poll of Rs 69 Cr, Revenue at Rs 919 Cr Vs poll of Rs 955 Cr (Neutral)
*Insecticides:* Net Profit at Rs 15.0 Cr Vs Rs 12.3 Cr, Revenue at Rs 360 Cr Vs Rs 358 Cr (YoY) (Neutral)
*Galaxy Surf:* Net Profit at Rs. 65 cr vs Rs 71 cr, Revenue at Rs. 1041 cr vs Rs 940 cr (YoY) (Neutral)
*Honda power:* Net profit at Rs 19 cr vs Rs 28 cr, Revenue at Rs. 214 cr vs Rs 263 cr (YoY) (Neutral)
*Gandhi Tubes:* Net profit at Rs.15 cr vs Rs 13 cr, Revenue at Rs 40 cr vs Rs 41 cr (YoY) (Neutral)
*Prakash Ind:* Net profit at Rs.83.7 cr vs Rs 80.6 cr, Revenue at Rs 925 cr vs Rs 885 cr (YoY) (Neutral)
*HBL:* Net profit at Rs. 64 cr vs Rs 79 cr, Revenue at Rs 450 cr vs Rs 599 cr (YoY) (Neutral)
*Balmer:* Net profit at Rs. 48.1 cr vs Rs 49.0 cr, Revenue at Rs 630 cr vs Rs 584 cr (YoY) (Neutral)
*Chaman lal:* Net profit at Rs. 29 cr vs Rs 38 cr, Revenue at Rs. 395 cr vs Rs 400 cr (YoY) (Neutral)
*E Mart:* Net profit at Rs. 32 cr vs Rs 46 cr, Revenue at Rs. 188 cr vs Rs 177 cr (YoY). (Neutral)
*Elgi Equipment:* Net profit at Rs. 90.4 cr vs Rs 84.3 cr, Revenue at Rs. 848 cr vs Rs 822 cr (YoY). (Neutral)
*Force Motors:* Net Profit at Rs 115.3 Cr Vs Rs 85.4 Cr, Revenue at Rs 1890 Cr Vs Rs 1692 Cr (YoY) (Neutral)
*Sansera:* Net Profit at Rs 55.6 Cr Vs Rs 48.0 Cr, Revenue at Rs 728 Cr Vs Rs 712 Cr (YoY) (Neutral)
*Escorts:* Board approves selling real estate properties worth Rs 110 cr. (Neutral)
*Mahindra Life:* Board Meeting to be held on 13-Feb-2025 to consider Fund raising (Neutral)
*Vedanta:* SC dismisses Vedanta’s appeal against Goa govt’s iron ore mine e-auction move: Economic Times. (Neutral)
*Hindalco*: Novelis adjusted EBITDA of US$ 367mn (-19% YoY, -21% QoQ), much lower than estimates
*National Fertilizers:* Net Profit at Rs 45.81 Cr Vs Rs 150.9 Cr, Revenue at Rs 5856 Cr Vs Rs 7584.3 Cr (YoY)
*GNFC:* Net profit at Rs 134 Cr Vs Rs 298 Cr, Revenue at Rs 2814 Cr Vs Rs 2635 Cr (QoQ)
*Shalimar Paints:* Net loss at Rs 24 cr vs Rs 11 cr, Revenue at Rs. 148 cr vs Rs 146 cr (YoY)
*Omaxe:* Net loss at Rs 150 cr vs Rs 71 cr, Revenue at Rs. 288 cr vs Rs 599 cr (YoY)
*Dharmaj Crop:* Net profit at Rs. 1.2 cr vs Rs 7.7 cr, Revenue at Rs. 174 cr vs Rs 123 cr (YoY).
*KCP Sugar:* Net loss at Rs 31.6 cr vs Rs 2.4 cr, Revenue at Rs 84 cr vs Rs 83 cr (YoY)
*ESAF:* Net loss at Rs 210 cr vs profit Rs 112 cr, Pre Provision Profit at Rs 127 cr vs Rs 288 cr (YoY)
*Snowman:* Net loss at Rs 0.6 cr vs profit Rs 4.2 cr, Revenue at Rs 131 cr vs Rs 124 cr (YoY)
*Satin Credit:* Net profit at Rs. 14.3 cr vs Rs 113.0 cr, Revenue at Rs. 564 cr vs Rs 498 cr (YoY).
*Grasim:* Net loss at Rs 169 Cr Vs poll of Rs 74 Cr, Revenue at Rs 8120 Cr Vs poll of Rs 8208 Cr.
*Syngene:* Jonathan Hunt stepped down as MD&CEO and from the Board of Directors to pursue other opportunities.
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Types of Investors in stock market @AlliesFin
SOURCE BUSINESS STANDARD @ALLIESFIN
The Story SOURCE FINSHOTS
@ALLIESFIN
Brightcom Group Ltd (BGL) has been a master of disguise. It has changed names four times, flipped business strategies, and managed to stay in SEBI’s crosshairs without ever really getting caught. And while doing so, it also managed to attract well-known investors, drew the ire of retail shareholders, all while spinning a grand narrative of global dominance in digital marketing (through its three divisions: media marketing, software services, and future technologies).
Yet, despite its shifting identity and red flags, many investors remained hopeful. We even wrote about it a few years back…
But despite all this, there’s a steady group of people who still believe in the gospel of Brightcom — some 7860 members of the “Brightcom Group Investors Group.” They continue to hold great conviction in the company’s prospects and we hope that their conviction pays off.
So, did that conviction pay off?
Well, the stock sits at ₹10 flat (languishing from its high of over ₹100 in 2021), with about 6 lakh retail investors holding over 80% of the company today. And the kicker here is that most of them aren’t invested by choice. The stock is suspended from trading on both the BSE and NSE. And now, SEBI has confirmed what many suspected all along, issuing a final order detailing multiple violations by BGL.
So, let’s break it down.
Violation #1 – Hiding impairment losses
Brightcom’s promoters had a simple trick up their sleeve: tweak numbers, hide losses, and keep the stock price flying high. And from what it seems, they pushed things under the carpet for as long as possible.
Take impairment losses, for example. When a company realises an asset has lost value and won’t generate the returns it once expected, accounting rules require it to recognise the loss immediately (under Ind AS 36 - Impairment of Assets). These losses should be recorded in the Profit & Loss (P&L) statement to reflect the true value of an asset on the company’s books. And it helps in preventing any inflated valuations on the books that could mislead investors.
Brightcom however had a different approach. From 2016 to 2019, there were signs that assets were turning into dead weight or impaired losses. Did it recognize these losses? Nope. It waited. And waited. Until, suddenly, in 2019-20, it dropped a bombshell: an impairment loss of ₹868.3 crore. Its defence? That it only recognized them when they became ‘permanent’. Or basically saying that ‘we didn’t hide losses; we just didn’t think they were losses yet.’
And instead of placing this loss in P&L (where it would impact the net profits), the company conveniently parked it under “Other Comprehensive Income” (OCI).
Why does this matter? Well, any profit or loss directly affects the reporting net profits—the number investors obsess over. After all, net profit figures are the foundation for key financial ratios and valuation metrics that analysts and investors rely on.
So, had the impairment loss of ₹868 crores been subtracted from net profits of ₹440 crores, the company would have reported a net loss of ₹428 crores instead. And stock prices would have dropped, and investors would have started asking tough questions. But by slipping the loss into OCI, Brightcom managed to keep up appearances. On paper, it still flaunted an after-tax profit of ₹440 crores instead of exposing crores in losses, all thanks to its creative accounting at work. And to an average investor looking at Brightcom’s financials, nothing seemed amiss.
#2 – Misleading shareholding patterns
Now, while these impairment losses were being quietly swept under the rug, BGL’s promoters were also quietly cashing out.
Think about it this way. The promoters knew the books bled losses, not profits. So, before the truth surfaced and the stock crashed, all they wanted was to sell their shares at high prices as quickly as possible. And that’s exactly what they did.
Between 2014 and 2022, promoter shareholding fell from 40% to just 3.5%. Ouch.
@ALLIESFIN
Brightcom Group Ltd (BGL) has been a master of disguise. It has changed names four times, flipped business strategies, and managed to stay in SEBI’s crosshairs without ever really getting caught. And while doing so, it also managed to attract well-known investors, drew the ire of retail shareholders, all while spinning a grand narrative of global dominance in digital marketing (through its three divisions: media marketing, software services, and future technologies).
Yet, despite its shifting identity and red flags, many investors remained hopeful. We even wrote about it a few years back…
But despite all this, there’s a steady group of people who still believe in the gospel of Brightcom — some 7860 members of the “Brightcom Group Investors Group.” They continue to hold great conviction in the company’s prospects and we hope that their conviction pays off.
So, did that conviction pay off?
Well, the stock sits at ₹10 flat (languishing from its high of over ₹100 in 2021), with about 6 lakh retail investors holding over 80% of the company today. And the kicker here is that most of them aren’t invested by choice. The stock is suspended from trading on both the BSE and NSE. And now, SEBI has confirmed what many suspected all along, issuing a final order detailing multiple violations by BGL.
So, let’s break it down.
Violation #1 – Hiding impairment losses
Brightcom’s promoters had a simple trick up their sleeve: tweak numbers, hide losses, and keep the stock price flying high. And from what it seems, they pushed things under the carpet for as long as possible.
Take impairment losses, for example. When a company realises an asset has lost value and won’t generate the returns it once expected, accounting rules require it to recognise the loss immediately (under Ind AS 36 - Impairment of Assets). These losses should be recorded in the Profit & Loss (P&L) statement to reflect the true value of an asset on the company’s books. And it helps in preventing any inflated valuations on the books that could mislead investors.
Brightcom however had a different approach. From 2016 to 2019, there were signs that assets were turning into dead weight or impaired losses. Did it recognize these losses? Nope. It waited. And waited. Until, suddenly, in 2019-20, it dropped a bombshell: an impairment loss of ₹868.3 crore. Its defence? That it only recognized them when they became ‘permanent’. Or basically saying that ‘we didn’t hide losses; we just didn’t think they were losses yet.’
And instead of placing this loss in P&L (where it would impact the net profits), the company conveniently parked it under “Other Comprehensive Income” (OCI).
Why does this matter? Well, any profit or loss directly affects the reporting net profits—the number investors obsess over. After all, net profit figures are the foundation for key financial ratios and valuation metrics that analysts and investors rely on.
So, had the impairment loss of ₹868 crores been subtracted from net profits of ₹440 crores, the company would have reported a net loss of ₹428 crores instead. And stock prices would have dropped, and investors would have started asking tough questions. But by slipping the loss into OCI, Brightcom managed to keep up appearances. On paper, it still flaunted an after-tax profit of ₹440 crores instead of exposing crores in losses, all thanks to its creative accounting at work. And to an average investor looking at Brightcom’s financials, nothing seemed amiss.
#2 – Misleading shareholding patterns
Now, while these impairment losses were being quietly swept under the rug, BGL’s promoters were also quietly cashing out.
Think about it this way. The promoters knew the books bled losses, not profits. So, before the truth surfaced and the stock crashed, all they wanted was to sell their shares at high prices as quickly as possible. And that’s exactly what they did.
Between 2014 and 2022, promoter shareholding fell from 40% to just 3.5%. Ouch.
Normally, such a massive sell-off would trigger panic. But Brightcom’s stock remained unaffected. Why? Well, because promoters managed to keep retail investors in the dark by misreporting its shareholding.
For instance, as of June 30, 2022, the company reported promoter shareholding at 18.47% on stock exchanges. But SEBI found that the real number was a mere 3.51%:
So what this did was create the illusion that promoters still had skin in the game. And SEBI discovered that Brightcom misrepresented its shareholding pattern in 31 out of 34 quarters between 2014 and 2022. That’s nearly a decade of deception!
But the shenanigans didn’t stop there…
Because there’s also a violation #3 – wrongly capitalising R&D costs
Seems like Brightcom had a knack for playing around with accounting rules. For example, let’s talk about its ₹504 crores worth of Research & Development (R&D) costs in question.
Typically, when a company spends money on R&D, it’s supposed to record it as an expense—unless, of course, that research actually results in a clearly defined product that will generate future revenue. But Brightcom chose to classify its ₹504 crore R&D spend as an asset instead of an expense.
So, instead of reducing profits by ₹504 crore (as it should have), Brightcom boosted its balance sheet with a shiny new “asset” by capitalizing it. Profits were up by ₹504 crores. Assets went up by ₹504 crores. But in true sense, it should have been ₹504 crores in expenses subtracted from profits.
Investors looking at the financial statements thought, “Wow, this company is doing great! Profits are strong, and their assets are growing!” But in reality, it was just shifting expenses around to make things look financially healthier.
And that brings us to another similar violation that BGL pulled off which is…
#4: Incorrect reporting of intangible assets
When a company develops an intangible asset, like a new technology or patent or a proprietary software, it must decide whether to treat this cost as an expense or capitalise them as an asset.
And accounting rules have a clear say here - if the asset isn’t generating revenue yet, the costs should be expensed immediately in the P&L. But if it’s already generating revenue, it can be capitalized on the balance sheet as an asset. And misclassifying these costs (i.e. either recognizing them too early or too late or treating an expense as an asset) can distort the true financial position.
For instance, if you spend ₹100 on developing a software today which isn’t ready yet, it should still be recorded as an expense in the P&L. But if you call that ₹100 an “intangible asset”, it sits on your balance sheet instead, making it seem like you’ve built something valuable which is already generating revenue.
And what did BGL do with its intangibles? Well, it delayed recording them as expenses and instead lumped everything into “intangible assets” at the end of each year or even the next year.
As the order states… For example, in FY 2015-16, the additions to “Intangibles under Development” and “Capital Work in Progress” were INR 102 crore and INR 70 crore respectively and this was reflected in FY 2016-2017 “Intangible Assets” as addition of INR 172 crore. (This pattern is seen across all financial years except in the case of FY 2014-15)
And this changed things by giving promoters complete control over when and where these assets appeared on financials. Instead of letting costs impact profits as they occurred, they could show them as assets at key moments…say before raising funds from any investors or during quarterly result announcements.
So yeah, by now you would know that anyone glancing through BGL’s financials was being taken for a ride, year after year.
For instance, as of June 30, 2022, the company reported promoter shareholding at 18.47% on stock exchanges. But SEBI found that the real number was a mere 3.51%:
So what this did was create the illusion that promoters still had skin in the game. And SEBI discovered that Brightcom misrepresented its shareholding pattern in 31 out of 34 quarters between 2014 and 2022. That’s nearly a decade of deception!
But the shenanigans didn’t stop there…
Because there’s also a violation #3 – wrongly capitalising R&D costs
Seems like Brightcom had a knack for playing around with accounting rules. For example, let’s talk about its ₹504 crores worth of Research & Development (R&D) costs in question.
Typically, when a company spends money on R&D, it’s supposed to record it as an expense—unless, of course, that research actually results in a clearly defined product that will generate future revenue. But Brightcom chose to classify its ₹504 crore R&D spend as an asset instead of an expense.
So, instead of reducing profits by ₹504 crore (as it should have), Brightcom boosted its balance sheet with a shiny new “asset” by capitalizing it. Profits were up by ₹504 crores. Assets went up by ₹504 crores. But in true sense, it should have been ₹504 crores in expenses subtracted from profits.
Investors looking at the financial statements thought, “Wow, this company is doing great! Profits are strong, and their assets are growing!” But in reality, it was just shifting expenses around to make things look financially healthier.
And that brings us to another similar violation that BGL pulled off which is…
#4: Incorrect reporting of intangible assets
When a company develops an intangible asset, like a new technology or patent or a proprietary software, it must decide whether to treat this cost as an expense or capitalise them as an asset.
And accounting rules have a clear say here - if the asset isn’t generating revenue yet, the costs should be expensed immediately in the P&L. But if it’s already generating revenue, it can be capitalized on the balance sheet as an asset. And misclassifying these costs (i.e. either recognizing them too early or too late or treating an expense as an asset) can distort the true financial position.
For instance, if you spend ₹100 on developing a software today which isn’t ready yet, it should still be recorded as an expense in the P&L. But if you call that ₹100 an “intangible asset”, it sits on your balance sheet instead, making it seem like you’ve built something valuable which is already generating revenue.
And what did BGL do with its intangibles? Well, it delayed recording them as expenses and instead lumped everything into “intangible assets” at the end of each year or even the next year.
As the order states… For example, in FY 2015-16, the additions to “Intangibles under Development” and “Capital Work in Progress” were INR 102 crore and INR 70 crore respectively and this was reflected in FY 2016-2017 “Intangible Assets” as addition of INR 172 crore. (This pattern is seen across all financial years except in the case of FY 2014-15)
And this changed things by giving promoters complete control over when and where these assets appeared on financials. Instead of letting costs impact profits as they occurred, they could show them as assets at key moments…say before raising funds from any investors or during quarterly result announcements.
So yeah, by now you would know that anyone glancing through BGL’s financials was being taken for a ride, year after year.