India Cements posts Rs 137 cr loss, to increase price

Chennai (IANS) Impacted by high input prices, which it was not able to pass on, cement major India Cements Ltd closed second quarter of FY23 with a net loss of Rs 137.58 crore, a top company official said.

He also said the situation was better…

B2B e-commerce startup Udaan lays off 350 employees after raising $120 mn

New Delhi (IANS) Business-to-business (B2B) e-commerce platform Udaan, which raised $120 million just last month, has sacked nearly 350 employees who were on the regular payroll, while asking hundreds of contractual workers to leave too.

Company…

Cement companies mull price hike of Rs 10-30/bag

Chennai (IANS) Cement companies are planning to hike the price between Rs 10 and Rs 30 per bag in November after a increase of about Rs 3-4/bag last month, said Emkay Global Financial Services Ltd.

Emkay Global in a recent sectoral report said…

Investors can buy gold to diversify risk: Quantum AMC

Chenna (IANS) Gold prices ended the last month 0.7 per cent lower, supported by a depreciating rupee and festive demand for Diwali and Dhanteras, said Quantum Asset Management Company (AMC).

On the other hand, the yellow metal prices in the…

Indigo reports net loss of Rs 15,833 million in Q2 FY22-23

New Delhi (IANS) Airline IndiGo reported a loss of Rs 3,818 million, excluding foreign exchange loss, for the quarter ending September 2022, compared to a loss of Rs 14,699 for the same quarter last year.

Including the foreign exchange loss…

Reliance Capital COC divided on Challenge Mechanism

Mumbai (IANS) The Committee of Creditors (COC) of Reliance Capital, which met on Friday to decide on the Challenge Mechanism process, remained divided and undecided on the modalities of the proposed process to be adopted in the bidding process.

HDFC logs Rs 4,454 crore net in Q2

Chennai (IANS) Home finance company Housing Development Finance Corporation Ltd (HDFC) closed the Q2FY23 with a higher net profit of Rs 4,454.24 crore.

In a regulatory filing, HDFC said it had logged an operational revenue of Rs 15,027.21 crore…

Rupee has behaved in an orderly manner, says RBI Governor

New Delhi (IANS) With the rupee witnessing a downward spiral for the past several weeks, even crossing the 83 mark against the US dollar, RBI Governor Shaktikanta Das on Wednesday said that the Indian currency has behaved in an orderly manner and…

Reliance Capital bidders flag off multiple legal issues involving Rs 20,000 crore liability

Mumbai (IANS) As the deadline for the submission of binding bids approaches, the bidders of Reliance Capital, including Hinduja, Torrent, Zurich, and Piramal have flagged off various legal issues to the lenders and Administrator, involving Reliance…

IDBI Bank declared former directors of Amtek Auto Ltd 'fraud', CBI to SC

New Delhi (IANS) The CBI has told the Supreme Court that IDBI Bank has declared the former promoters/directors of Amtek Auto Ltd as "fraud" on September 26, and reported it to the RBI on October 4, and is in process of filing a complaint against them,…