WEB NEWS

 by Priya Jadhav  Mumbai, July 31, 2023 : Blue Dart Express Limited, South Asia's premier express air and integrated transportation & distribution logistics Company, declared its financial results for the quarter ended June 30, 2023, at its Board Meeting held in Mumbai today.  The company posted ₹ 59.74 crores profit after tax for the quarter ended June 30, 2023; Revenue from operations for the quarter ended June 30, 2023, stood at ₹ 1,238 crores. The company, known for its extensive network with a reach of 55,000+ locations, cutting-edge technology and unwavering commitment to customer satisfaction continued to deliver a good performance. The Company carried 839 lakh shipments (last year 771 lakh shipments) weighing 285,625 tons (last year 278,393 tons) during the quarter.  Commenting on the company's performance , Balfour Manuel, Managing Director of Blue Dart Express Ltd., stated, " A significant driver of our consistent performance has been our focus on de...

by Priya Jadhav With this, the Bank has opened 70 branches in Maharashtra and 855 branches across the country. Mumbai – July 31, 2023-: Utkarsh Small Finance Bank Limited (“USFBL” or the “Bank”), today announced the inauguration of its branch in Andheri, Mumbai. With this, the Bank has 855 branches in the country with 70 branches in the state of Maharashtra. Customers at Andheri, can now avail the Bank’s products and services, which includes savings bank account, current account, fixed deposits and recurring deposits amongst other facilities. Speaking on the inauguration, Mr. Parveen Kumar Gupta, Chairman, Utkarsh Small Finance Bank Limited, said, “This opening of our banking outlet in Andheri reiterates our commitment to expand our geographical imprint across country. We aim to drive our objective of financial inclusion and economic independence of all sections of society by offering innovative products and best possible rates . We have plans for further expansion of our network in t...

 by Priya Jadhav Enter into a world of sheer luxury, elevating the ambience of your living space from The Great Eastern Home's collection of indispensable armchairs. Where cultural heritage meets modern home designs and the captivating world of age-old craftsmanship, timeless elegance, and cultural narratives are woven into every intricately designed armchair. Immersing yourself in a living testament of artistry and heritage. An armchair naturally adds character to the space in a well-furnished living space. The armchairs crafted at The Great Eastern Home feature extended frames and seamlessly integrated arms, providing flexibility to the back while maintaining the collection's strength and simplicity. The exceptional armchairs embody a seamless fusion of comfort and aesthetic appeal, elevating any room they grace. With captivating designs, they effortlessly become the centerpiece that reflects your discerning taste. These carefully crafted armchairs invoke tranquility and dura...

 by Priya Jadhav Net Debt at $3.19 billion as of June 2023, down by $160 million vs June 2022 MUMBAI, INDIA, July 31, 2023 – UPL Ltd. (NSE: UPL & BSE: 512070, LSE: UPLL), today reported financial results for the first quarter of FY24 (Apr-June 2023)        Financial Performance Update In ₹ crore (Unless otherwise stated) Q1 FY24 Q1 FY23 YoY Revenue 8,963 10,821 (17%) EBITDA 1,593 2,342 (32%) EBITDA Margin (%) 17.8% 21.6% (387 bps) Net Profit 166 877 (81%) ·          Revenue and EBITDA for Q1 impacted by the industry-wide slow down. ·          Differentiated and Sustainable portfolio delivered resilient performance growing by 7% YoY - revenue share rose ...

 by Priya Jadhav Thane, 31 July 2023 – Raymond Realty, the real estate arm of Raymond has expanded its presence in the Thane market with the launch of its fourth project Address by GS 2.0. Having received unprecedented success in its first three projects, the launch of The Address by GS 2.0 showcases the soaring popularity of Raymond Realty as a real estate developer in the MMR region. After the successful launch of the first phase of The Address by GS and the recent handover of the first phase of TenX Habitat, Raymond Realty is emerging as a strong player in the real estate segment. Speaking about the latest venture of Raymond Realty, Harmohan Sahni, CEO Raymond Realty said; “The Address by GS 2.0 is testimony to the surging popularity of Raymond Realty in Thane region. Having delivered our maiden project 2 years ahead of RERA timelines, this is yet another finest creation that is poised to set new benchmarks in the field of construction. The overwhelming success of our first edit...

 by Priya Jadhav Concord Biotech Ltd initial public offering (IPO) opens for subscription on Friday, August 4, and closes on Tuesday, August 8. The allocation to anchor investors for Concord Biotech IPO is scheduled to take place on Thursday, August 3. Concord Biotech IPO price band has been fixed in the range between ₹705 to ₹741 per equity share of face value of ₹1 each. Concord Biotech IPO lot size is 20 equity shares and in multiples of 20 equity shares thereafter. Rekha Jhunjhunwala -backed Concord Biotech IPO consists of a pure offer-for-sale by Helix Investment Holdings Pte Ltd. of up to 20.93 million shares. The issue offer is priced at ₹1,550 crore on the upper band, and the firm is worth ₹7,752 crore. 20% of the company is owned by Helix Investment Holdings Pte Ltd, which is backed by Quadria Capital Fund LP, an Asian private  equity fund  with a focus on healthcare. Rakesh Jhunjhunwala owned 24.09% of the company through his...

 by Priya Jadhav  Price Band of Rs 54 – Rs 57 per equity share bearing face value of  Rs 10 each (“Equity Shares”)   Bid/Offer Opening Date – Thursday, August 3, 2023 and Bid/Offer Closing Date – Monday, August 7, 2023.   Minimum Bid Lot is 260 Equity Shares and in multiples of 260 Equity Shares thereafter.  The Floor Price is 5.4 times the face value of the Equity Share and the Cap Price is 5.7 times the face value of the Equity Share. MUMBAI, JULY 31, 2023 :  SBFC Finance Limited (” Company ”) is a systemically important, non-deposit taking non-banking finance company (“ NBFC-ND-SI ”) offering Secured MSME Loans and Loans against Gold, with a majority of its borrowers being entrepreneurs, small business owners, self-employed individuals, salaried and working class individuals has fixed the price band at  Rs 54  to Rs  57  per Equity Share for its maiden public offer. The initial public off...

by Priya Jadhav Launched as pilot for Bihar Board students, tool gets overwhelming response, over 100,000 queries of students resolved within couple of weeks New Delhi/Bengaluru/Mumbai July 30 : Gurgaon-based ed-tech company, Vidyakul, has recently launched a GPT-powered AI doubt resolution chatbot,  Robot Drona, to offer Hindi medium students of Bihar Board an enhanced, round-the-clock learning experience and streamline their doubt resolution process. Robot Drona, made with OpenAI, has resolved over 100,000 queries by students of 9th to 12th standards of Bihar Board on subjects like science, mathematics and social science within a couple of weeks since it's beta launch. Robot Drona is an extraordinary innovation as for the first time ChatGPT is used to develop a tool for the students of India’s state board students who study in Hindi. While different edtech players have integrated ChatGPT for doubt resolution and learning in their products, none of them has been particularly des...

by Priya Jadhav Navrathan Jeweller’s Jewellery has long been a symbol of elegance, luxury, and personal expression. Whether you prefer the timeless beauty of diamonds, the vibrant allure of colored gemstones, or the intricate craftsmanship of artisanal pieces, there is a treasure trove of options to choose from that will perfectly complement your fashion sensibilities. Get ready to be captivated by the timeless allure of jewellery by Navrathan Jewellers to illuminate your beauty with breathtaking designs showcasing traditional craft as well as contemporary designs. Moreover, since 1954, they have impressed each and every customer with excellent jewellery, enhancing your look. Each piece has a distinctive aura that adds a sparkle to your life with a perfect blend of vibrance and grace that highlights luxurious brilliance. One can choose from a mesmerizing diamond jewellery set which is an expression of heritage and traditions or adorn yourself with delicate jewellery from Navrathan ...

by Priya Jadhav Through this capital infusion, RGI reaffirms its dedication to bolstering financial strength and seizing emerging opportunities in the general insurance sector. Mumbai, 30 July 2023 : Reliance General Insurance Company Ltd (RGICL), one of India’s leading general insurance players, in a strategic move today ,  has raised the capital of Rs. 200 crores by issuing equity shares to Reliance Capital Limited, its esteemed promoter. With this capital raise, RGICL is reinforcing its commitment to financial strength and readiness to capitalize on emerging opportunities in the insurance sector. The Shareholders of the company at its Extraordinary General Meeting (EGM) held on July 29, 2023, have approved infusion of capital of about Rs. 200 crores in the company, by way of the issue of equity shares on a private placement basis. This capital infusion is aimed at pursuing new business opportunities for growth and securing the company's position amongst the market leaders. ...