Finance – Page 21 – THE ECONOMIC INDIA

13 Feb

Varanium Cloud reports Consolidated Net Profit of Rs. 87.68 crore in Q3FY24, growth of nearly 200% Y-o-Y

Financefinance

Total Income for Q3FY24 grew 267% Y-o-Y to Rs. 401.86 crore. Mumbai (Maharastra) [India], February 13: Mumbai based Technology Solutions Company, Varanium Cloud Limited has reported exponential growth in business operations with robust growth in the total income and net profit. Company has reported a consolidated net profit of Rs. 87.68 crore for the Q3 FY23-24 ended December 2023 as against net profit of Rs. 29.29 crore in Q3 of FY22-23, growth of 196% Y-o-Y. Total income from operations for Q3FY23-24 was reported at Rs. 401.86 crore, higher by 267% Y-o-Y as compare to total income of Rs. 109.48 crore…

12 Feb

India’s Interim Budget Points to Steady Growth Across Key Sectors

Financefinance

New Delhi (India), February 12: As India heads into national elections in 2024, Finance Minister Nirmala Sitharaman presented an upbeat interim budget focusing on sustained inclusive growth. Clear strategies were outlined across sectors like healthcare, agriculture, infrastructure and e-commerce that buoyed market sentiments while putting people first. Healthcare: More Holistic Vision, But Milestones Ahead The budget aims to unify maternal and child health schemes under an overarching umbrella. As Dr. Sujit Chatterjee, CEO of Dr. L H Hiranandani Hospital explains, “The comprehensiveness of combining vaccinations, nutrition and healthcare access across phases from pregnancy to adolescence is judicious.” However, the real test lies in…

09 Feb

Indian Budget 2024 Offers Insights for Crypto Investors: 5 Takeaways

Financefinance

The Indian budget for 2024 has not introduced specific new regulations or tax changes for the cryptocurrency sector directly in its announcements. However, there are significant expectations and discussions within the industry regarding potential changes that could impact the sector: Taxation and Regulation Clarity The industry is eagerly awaiting clearer regulations and a more favorable tax regime. The current high tax rate, including a 30% tax on virtual assets and an additional 1% Tax Deducted at Source (TDS) on all crypto transactions, has been a point of contention. Industry experts have suggested a need for clarity in the definitions of…

09 Feb

Balu Forge Industries Earnings press release Q3 FY24 #2.

Financefinance

Mumbai (Maharashtra) [India], February 9: Balu Forge Industries Ltd is one of the prominent companies in India for producing precision machined components. It is engaged in the manufacturing of finished and semi-finished crankshafts and various other forged components and has a strong clientele comprising of 25+ OEM’s. The Company boasts of a precision machining unit with a comprehensive product range which caters to customers across various industries such as automobiles, ships, locomotives, aerospace, defence, oil and gas, railway, marine, prototypes and others. BFIL facility is located in Belgaum, Karnataka and has an existing capacity to produce 18,000 tonnes forged components…

09 Feb

Asher T. Gianchandani, CEO of Moksha Media Group, Applauds India’s Tech-Driven Interim Budget 2024-2025

Financefinance

New Delhi (India), February 9: The Interim Budget 2024-2025 has ushered in a promising era of digital advancements, marked by a notable 11% increase in infrastructure spending and a focused spotlight on technology, healthcare, and MSMEs. As a media-tech company deeply entrenched in the digital landscape, we view these developments with optimism and enthusiasm. The budget’s emphasis on empowering the tech-savvy youth and enhancing productivity through technology resonates strongly with our core values and objectives. In today’s rapidly evolving digital landscape, technology plays a pivotal role in driving growth, innovation, and inclusivity. By prioritizing investments in technology and digital infrastructure,…

08 Feb

Rajoo Engineers Ltd’s Rs. 19.8 crore Buyback opens; Buyback closes on 12 Feb

Financefinance

The company is set to buyback a maximum of 9,42,300 equity shares at a price of Rs. 210 per share, utilizing the tender offer route. Rajkot (Gujarat) [India], February 7: Rajoo Engineers Ltd, a prominent player in the Indian plastic extrusion machine manufacturing sector, boasting nearly 35 years of excellence in extrusion, has unveiled its share buyback program. The company aims to repurchase a maximum of 9.42 lakh equity shares at a rate of Rs. 210 per share through the tender offer route. Buyback offer is open from Feb 6 and will close on Feb 12. Entitlement Ratio for small…

07 Feb

Institute of Actuaries of India Unveils Global Conference of Actuaries (GCA) with a Focus on “Data, Disruptions, and the Actuary”

Financefinance

Mumbai (Maharashtra) [India], February 7: The Institute of Actuaries of India (IAI) unveiled the Global Conference of Actuaries (GCA) 2024, set to take place from 12th to 14th February 2024 at Westin Hotel, Mumbai. Themed “Data, Disruptions, and the Actuary,” this conference aims to provide a comprehensive overview of the transformative role of data and disruptions and how actuarial skills are best suited to handle this disruption. It will draw the spotlight on the pivotal role of the actuary for organizations which are seeking to navigate the complexities of a rapidly evolving landscape in the era of data and disruptions.…

06 Feb

Hilton Metal Forging Ltd eyeing big business for Railway Forged Wagon Wheel

Financefinance

Company has installed capacity to manufacture 48,000 Wheels annually; Company is also looking forward to bigger Railway Forged Wagon Wheel Orders in the near future through tender route. Mumbai (Maharashtra) [India], February 6: Hilton Metal Forging Ltd – prominent manufacturer and distributor in the steel forging industry, specializing in products such as for railway forged wagon wheel, flanges, fittings, and oilfield and marine products is eying big business for Railway Forged Wagon Wheel. Company has installed capacity to manufacture 48,000 Wheels annually and aims to meet the increasing demand in the replacement market. Company is also looking forward to bigger…

06 Feb

Bonus Share Declared: Small Cap Agro Stock Gains 21% In 2-Weeks On Bonus Buzz

Financefinance

New Delhi (India), February 6: Small cap stock from the agro-processing sector stock M K Proteins Ltd on Tuesday recommended bonus shares in the ratio of 2:1 implying shareholders will be eligible to get 2 bonus shares for every 1 share held as on the record date. M K Proteins shares zoomed 21% in last 2-weeks on bonus share buzz and soared 1925% in last 3-years. Last trading price of M K Proteins shares on BSE is Rs 47.28 apiece with intraday fall of 1.64%. Check details given below: M K Proteins Recommends Bonus Shares: As per the BSE filing…

06 Feb

Sachin Patil, MD & CEO of Messe Stuttgart India Applauds Union Budget 2024’s Infrastructure Boost for Exhibition and MICE Industry

Financefinance

New Delhi (India), February 6: Applauding Union Budget 2024, Sachin Patil, MD & CEO of Messe Stuttgart India said, “ It is High Time to recognise the pivotal role of Exhibition and Trade Fair sector in propelling India onto the global stage. India’s emergence as a major hub for international events, exhibitions, and conferences is both promising and challenging. The future growth prospects for this sector are immense, and it’s heartening to witness growing interest from foreign trade bodies and industry associations. This underscores the tremendous potential that our country holds as a MICE destination. However, for India to truly…