Achi news desk-
New Delhi37 minutes ago
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Yesterday’s big news was related to Adani Enterprises. Adani Enterprises’ consolidated net profit for the January-March quarter of fiscal 2024 fell 38% year-on-year (YoY) to ₹ 450.58 crore. India’s food safety regulator has now ordered an inspection and testing of the products of all spice mix manufacturing companies including MDH and Everest.
Before tomorrow’s big news, today’s key events to keep an eye on…
- There may be an increase in the stock market today on Friday (May 3).
- Edani Green Energy’s fourth quarter results will be published today.
- There was no change in the prices of gasoline and diesel.
Now read tomorrow’s big news…
1. The profit of Adani Enterprises in the fourth quarter fell by 38% to 450 million dollars: the company’s revenues increased by about 1%, the company will pay a dividend of 1.3 rupees per share.
Adani Enterprises, the flagship company of Adani Group, released the results for Q4FY24 i.e. the fourth quarter of the financial year 2024 on Thursday (May 2). In the January-March quarter, the company’s consolidated net profit fell 38% year-on-year (YoY) to Rs 450.58 crore.
The company’s consolidated net profit in the corresponding quarter last year was ₹722.48 crore. While in the last quarter (Q3FY24) it was ₹1,888.45 crore. This means that the consolidated net profit of the company decreased by 76.14% on a quarterly (QoQ) basis.
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2. There will be an inspection at the factories of all the spice manufacturing companies: FSSAI also ordered sampling and testing of the companies’ products.
India’s food safety regulator has now ordered an inspection and testing of the products of all spice mix manufacturing companies including MDH and Everest. On Thursday, the regulator said the scope of the investigation into the sector has been increased as global regulators investigate the pesticide ethylene oxide in products of two popular domestic brands.
The Safety and Standards Authority of India, i.e. FSSAI, has now asked officials to keep an eye on companies that manufacture curry powder and mixed masala mixes for domestic and foreign sales.
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3. ‘eCOM’ and ‘Insta EMI’ loans will be available from Bajaj Finance: RBI has removed the ban on approval and disbursement of loans, as per guidelines will be reviewed.
The Reserve Bank of India (RBI) has lifted the ban on two products of non-banking financial company Bajaj Finance, ‘eCOM’ and the online digital ‘Insta EMI Card’. The company provided this information in its exchange filing today (May 2). The company said that it will now be able to resume loan approval and repayment in these two business sectors, including the issuance of EMI cards.
Due to non-compliance with the guidelines, RBI on November 15, 2023 directed Bajaj Finance to stop sanctioning and disbursement of loans under its two loan products ‘eCOM’ and ‘Insta EMI Card’ with immediate effect. The Central Bank has asked Bajaj Finance to correct the deficiencies, after which the imposed restrictions will be reviewed.
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4. Rakesh Singh becomes the CEO of Paytm Money: He will replace Varun Sridhar, who brought the company to profit, there was a profit of ₹ 42.8 crore in the financial year 2023.
One97 Communications Ltd’s wealth management platform Paytm Money has appointed Rakesh Singh as CEO, replacing Varun Sridhar. Varun Sridhar has been the CEO of Paytm Money since 2020. Economics Times gave this information in one of its reports citing sources.
Rakesh Singh joined Paytm Money only last month. Prior to that, he was the CEO of banking services at Fisdom, a fintech company associated with the payments company PayU. According to the report, Varun Sridhar has been given additional responsibilities within the group. However, information about this has not been officially disclosed by the company.
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5. Coal India’s profit in the fourth quarter increased by 26% to NIS 8,640: the company’s income decreased by 2%, the company will pay a dividend of 5 rupees per share.
State-run Coal India Limited on Thursday (May 2) released the results for Q4FY24, i.e. the fourth quarter of the financial year 2024. In the January-March quarter, the company’s consolidated net profit grew 26% year-on-year (YoY) to ₹ 8,640.5 crore .
The company’s consolidated net profit in the corresponding quarter last year was ₹6,869.5 crore. While in the last quarter (Q3FY24) it was ₹10,154.68 crore. This means that the consolidated net profit of the company decreased by 14.91% on a quarterly (QoQ) basis.
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6. NPCI will create a UPI-like payment system for Namibia: An agreement with the Bank of Namibia, aims to increase digital transactions in the African country.
NPCI International Payments Limited (NIPL) will help develop an instant payment system like UPI for Namibia. NIPL has signed an agreement with the Bank of Namibia (BON) for this. National Payments Corporation of India (NPCI) has given information about this today i.e. on 2nd May.
The purpose of the agreement is to improve digital financial services in the African country, supporting real-time person-to-person (P2P) and merchant payment (P2M) transactions.
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7. India’s thinnest smartphone launched with 5500mAh battery: Vivo V30e has 6.78-inch full HD+ display and 50MP selfie camera, starting price at ₹ 27,999
Chinese tech company Vivo has launched the Vivo V30e smartphone in India (May 2). The company claims that it is the thinnest smartphone with a 5500mAh battery in the Indian market. Its thickness is 7.65mm. Apart from this, the company will get a 6.78-inch Full HD + AMOLED screen, a 50MP primary camera and a Qualcomm Snapdragon 6 Gen1 chipset in this phone.
The smartphone was presented in two storage versions with 8GB RAM. Its starting price is 27,999 thousand rupees. The phone is available in two color options – Velvet Red and Silk Blue. The company is giving a cash discount of Rs 3,000 on using HDFC and SBI cards. Tell us about the full specifications of the smartphone…
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Now read the news you need…
Aadhaar Housing Finance IPO to open on May 8: Company wants to raise ₹3,000 crore, retail investors can invest minimum ₹14,805
The initial public offering, i.e. the public offering of Aadhar Housing Finance Limited, will open on May 8. The company wants to raise Rs 3,000 crore through this. In this issue, the company will issue 3.17 crores of new shares for 1,000 crores.
At the same time, through an offer for sale, i.e. OFS, the company will raise 2,000 crores by selling 6.35 million shares. Retail investors will be able to bid for this offering from May 8 to May 10. The company’s shares will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on May 15. If you also plan to invest money in this offering, then we tell you how much you can invest in it…
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