Tech Mahindra tanks over 10% on weak Q4 results
Posted on 27th May 2015 |
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| Shares of Tech Mahindra have tanked 13.4% to Rs 554, the sharpest intra-day fall since February 2011 on the NSE, after the company reported a nearly 500 basis points (bps) decline in EBITDA margins at 15.2% for the fourth quarter ended March 31, 2015 (Q4) against 20.2% in the December 2014 quarter. Meanwhile, the company had reported a 39% sequential fall in consolidated net profit (prior to special adjustments) to Rs 472 crore, due to higher employee expenses and cross-currency fluctuations. The company had posted a profit of Rs 777 crore in the previous quarter. Revenue for the quarter grew 6.4% at Rs 6,117 crore on a sequential basis. “Our Q4 results were impacted by macroeconomic factors like cross currency headwinds and salary increases. We will endeavor to work on improving our operating metrics to achieve synergy with our recent acquisitions,” said Vineet Nayyar, Executive Vice Chairman, Tech Mahindra. The trading volumes on the counter jumped more than three-fold, with a combined 8.44 million shares changing hands on the NSE and BSE. At 0946 hours, the stock was down 13% to Rs 557 on the NSE. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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