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IT major Wipro’s announcement of a share buyback consideration (board meet on April 27) is aimed at boosting investor confidence, analysts said. This also indicates that the company will reduce its focus on mergers and acquisitions in the near term, amidst the current macro situation, they added. This comes as the IT industry treads a […]

Infosys has signed a Memorandum of Understanding (MoU) with energy and chemicals company Aramco, to collaborate on accelerating their human resource (HR) technology. Infosys aims to leverage AI to further bolster Aramco’s employee learning and development experiences and reduce skill gaps. Ipca Laboratories will acquire a 33.38 per cent stake in Unichem Laboratories, from one of […]

Target: ₹520 CMP: ₹442.55 ICICI Prudential Life Insurance’s strong Q4-FY23 APE growth of 26 per cent y-o-y was primarily driven by non-linked savings (+104 per cent), partly offset by lower ULIPs (-24 per cent) and muted protection. VNB margins stood strong at 32 pe cent (up 400 bps, flat), driven by product mix. VNB grew […]

The 2023 Akshaya Tritiya has turned out to be a good one for jewellery retailers and consumers, despite high gold prices in terms of volume. Initial indications point to an increase in overall jewellery sales volume this year.  “Jewellery sales are estimated to have increased by over 40 per cent in terms of the number […]

Eight of the 10 most valued firms faced a combined erosion of ₹1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, and ICICI Bank were among the eight companies that suffered a decline in their valuation. […]

Notwithstanding the volatile equity markets, the net flows into the mutual fund industry through Systematic Investment plan increased 77 per cent in the year ended March to ₹84,224 crore against ₹47,619 crore logged in the previous financial year. In fact, the net inflows accounted for 54 per cent of highest ever gross SIP inflow of […]

HDFC Asset Management Company has received final SEBI approval for change in ownership after the merger of HDFC with HDFC Bank. HDFC AMC was promoted by HDFC Investments and HDFC Holdings, wholly owned subsidiaries of Housing Development Finance Corporation. As per the proposed merger, both the subsidiaries will be merged with HDFC. Following this, HDFC […]

The rupee gained 1 paisa to 82.16 against the US dollar in early trade on Friday, tracking a weak greenback against major currencies and positive sentiment in the domestic equities market. Forex traders said the downward movement of crude oil prices also supported the local unit. At the interbank foreign exchange, the domestic unit opened […]

Rajesh Mokashi, former MD & CEO of CARE Ratings, has been barred by market regulator SEBI for two years from associating with stock market-related entities after it was found that he was exercising extrajudicial pressure to manipulate credit ratings that helped top corporate lure investors to raise thousands of crores. SEBI has accused Mokashi of […]

ICICI Securities (I-Sec) has reported a y-o-y drop of nearly 23 per cent in its consolidated net profit at ₹262.68 crore for the quarter ended March 2023. A year ago, it had posted a PAT of ₹340.29 crore. Total Income for Q4 FY23 to dipped, albeit marginally, to ₹884.78 crore (₹891.67 crore). The drop in […]