finance – THE ECONOMIC INDIA

14 May

Shanti Spintex Limited delivers strongest set of financial results for FY24, Revenue surpasses Rs. 5 billion, PAT reaches Rs. 130 million

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Ahmedabad (Gujarat) [India], May 14: Shanti Spintex Limited (BSE: SHANTIDENM) (“Company”), engaged in production of denim fabrics, announced its financial results for the second half year and full financial year ended March 31, 2024. The Company continued its growth trajectory by delivering the strongest set of financial results for FY24. Key Highlights: Highest ever annual revenue achieved in FY24 amounting to INR 5.06 Billion Highest ever EBITDA of INR 246.40 million, with EBITDA Margin of 4.87% in FY24 Profit after tax increased by 28.53% in FY24 and stood at Rs. 130.18 Mn. Net debt reduced by 46.83% Y-o-Y in FY24 …

11 May

SAFE West India 2024 addresses India’s Growing Security Market, Projected to reach USD 7.36 Billion by 2029

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Mumbai (Maharashtra) [India], May 11: Informa Markets in India successfully inaugurated the second edition of SAFE West India, India’s leading security and fire expo, at the Bombay Exhibition Centre in Mumbai. Held from May 9th to 11th, 2024, the three-day event served as a premier platform for industry stakeholders, government representatives, and security enthusiasts to engage in collaborative innovation. SAFE West encompasses a wide range of trends and solutions in the realm of commercial security and surveillance, focusing on preventive technologies and innovations tailored for the Western India market. The expo united esteemed Indian brands specializing in CCTV, surveillance, biometrics,…

09 May

Creditwalle Unveils Game-Changing Financial Services Platform For Borrowers

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Creditwalle is revolutionising borrowing experience with the launch of its game-changing financial services platform, empowering borrowers with fast lending mechanism, transparency, and 24/7 availability, so borrowers never have to go elsewhere. In an era inspired by convenience, accessibility, and speed, the financial environment is powerfully evolving. Instant loans from are becoming a trusted source of lending for those who need financial support right away. User-friendly interface, availability 24 hours a day, easy access to funding, and prompt disbursal make these platforms for loans an attractive choice. Creditwalle not only offers these advantages but also provides unbiased real ARPs, single application forms, credit…

06 May

Ashapuri Gold Ornament Ltd’s Rs. 48.75 crores Rights opens on May 8, 2024

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Ahmedabad (Gujarat) [India], May 6: Ashapuri Gold Ornament Ltd (BSE – AGOL – 542579) – one of the prominent manufacturers and wholesalers of gold jewellery is schedule to open its Rs 48.75 crore rights issue on May 08, 2024. The funds raised through the issue will be utilised to meet the working capital requirements to fund company’s expansion plans, entering new geographies and for general corporate purposes. Right issue of the company are offered at a price of Rs. 5.85 per share – 57.45% discount to closing share price on 3rd May, 2024. Rights Issue closes on 27th May, 2024.…

06 May

MOS Utility, Two foreign funds buys total of 2.99 lakh shares in bulk deal

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Mumbai (Maharashtra) [India], May 6: Two foreign funds have bought total of 2,99,200 shares of MOS Utility Limited (further referred to as “MOS”) in a bulk deal on 2 May 2024. Saint Capital Fund and Zinninai Global Fund PCC- Cell Dewcap fund have bought 1,49,200 shares each in the company. Both funds together have bought shares worth Rs. 5.77 crore in the company. Saint Capital Fund and Zinninai Global Fund PCC- Cell Dewcap fund bought 1,49,200 shares each in the company on 2 May 2024 Both funds together have bought shares worth Rs. 5.77 crore in the company. On 2…

04 May

Sai Swami Metals and Alloys Ltd’s Rs. 15 crore public issue received bumper subscription of over 500 times

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Ahmedabad (Gujarat) [India], May 4: The initial public offering of Ahmedabad-based Sai Swami Metals & Alloys Ltd, makers of DOLPHIN Brand stainless Steel Cookware & appliances and wide range of stainless steel products received overwhelming response for its Rs. 15 crore SME IPO and got subscribed over 500 times. Retail segment was subscribed 528.8 times, while Non institutional investor category was subscribed 558.5 times. Company received bids for over 128.96 crore equity share aggregating total subscription amount of over Rs. 7,737.60 crores against the 25 lakh shares offered in the public issue. The public issue closed for subscription on May…

03 May

Piramal Finance Offers Home Loans Starting from 9.50 Percent Interest Rate

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Mumbai (Maharashtra) [India], May 3: Piramal Capital & Housing Finance Ltd., herein referred to as Piramal Finance is pleased to announce that their home loan interest rates start at 9.50%*. This competitive interest rate reflects Piramal Finance’s commitment to providing accessible and affordable financing solutions to individuals aspiring to own their dream homes. Owning a home is a significant milestone for many individuals and families. With Home Loan starting from a 9.50%* interest rate, Piramal Finance aims to make homeownership more attainable and financially feasible for a broader segment of the population. Piramal Finance is one of India’s leading players…

02 May

FinTech Sector in India Experiences Explosive Growth Across Key Segments, Alok Kumar Agarwal Alankit Discusses Implications

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Alok Kumar Agarwal Alankit, “At the heart of India’s FinTech revolution lies a relentless pursuit of technological innovation.” New Delhi [India], May 2: In recent years, India has emerged as a global powerhouse in the field of financial technology or FinTech. India’s FinTech sector showcases remarkable dynamism, epitomizing the nation’s technological prowess. “Advancements across Payments, Digital Lending, InsurTech, and WealthTech underscore its capacity for innovation, positioning India as a global leader in financial technology,” says Alok Kumar Agarwal Alankit. Continuing further he adds, “Notably, the Payments segment has experienced an extraordinary surge in India. UPI transactions alone saw an astounding 82%…

02 May

Evexia’s move of acquiring Revin labs, Robust growth forecasted

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In the world of industrial applications, Evexia Lifecare limited stands out as a manufacturer of a range of petrochemical downstream products. These include specialized oils, chemicals, petroleum sulphates, and solvents crucial for industries such as rubber, leather, ink, and paint. Going green with eBikes A significant milestone was the company’s move into the green energy sector in FY21 with the establishment of an eBike plant in Vadodara. Not just stopping at manufacturing, the company is also gearing up for job work and producing their own line of eBikes. Global Financial Moves On 3rd February 2023, the company issued 1.50% Listed…

29 Apr

Lagnam Spintex announces FY24 results, PAT Zooms to YoY 380% at Rs 7.30 cr in Q4FY24, Declares Dividend of Rs. 0.50/- per share

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New Delhi (India), April 29: Lagnam Spintex Limited, a leading manufacturer of high quality cotton yarn in India, has announced its results for the financial year and quarter ended on March 31, 2024. The company witnessed remarkable revenue growth, propelled by its strategic expansion initiatives and diversification into new product lines. Lagnam had commissioned their Rs 218 cr. Capex expansion project ahead of schedule on 31st January 2024, as against the schedule date of 1st April 2024. This early commissioning has helped the company in bringing competitive cost advantage and increase in top line as seen in the results. The Total revenue…