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Crompton Greaves Consumer Electricals Q4 results: Net profit down 27.4% to Rs 102 crore
Crompton Greaves Consumer Electricals Ltd on Friday reported a 27.35 per cent decline in consolidated net profit at Rs 102.10 crore for the fourth quarter ended March 2020 due to decline in sales because of COVID-19 pandemic. The company had posted a net profit of Rs 140.54 crore in January-March quarter a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a BSE filing.
KKR to hire TPG veteran Gaurav Trehan to head India PE biz
After a 16 year stint, Gaurav Trehan, Partner, TPG Capital is leaving the buyout group to head the India private equity business at KKR, said people in the know. Trehan quit TPG earlier this week and the team was informed on Friday about his decision.
Mahindra Finance Q4 results: Net profit dips 66% to Rs 239 crore
Mahindra and Mahindra Financial on Friday reported 66 per cent fall in consolidated net profit at Rs 239 crore for March quarter 2019-20 due to higher provisions. The company had posted a net profit of Rs 701 crore in the year-ago same period.
AU Small Finance Bank promoter sells shares worth Rs 100 crore
Chiranjee Lal Agarwal, one of the promoters of AU Small Finance Bank, on Friday sold more than 24 lakh shares of the company for Rs 100 crore through an open market transaction. According to the block deal data available on BSE, Agarwal sold 24,12,000 shares of the company at an average price of Rs 414.6 per share.
Bulk deals: Julius Baer sells Equitas, Westbridge Crossover pares stake in IEX
Among the key bulk deals on Friday, Julius Baer Multistock Emerging Equity Fund sold shares of Equitas Holdings, while Westbridge Crossover Fund pared its holdings in Indian Energy Exchange. Julius Baer Multistock Emerging Equity Fund sold 27,50,000 shares in Equitas Holdings at Rs 49.17 per share.
Drug major Cipla on Friday reported a 33.32 per cent year-on-year (YoY) drop in consolidated net profit at Rs 238.49 crore for the March quarter, compared with Rs 357.68 crore in the same quarter last year. The profit figure missed ET NOW poll estimate of Rs 355 crore.
Dow Jones opens lower as trade war fears compound virus woes
US stocks opened lower on Friday as fears of increased Sino-US trade hostilities added to concerns over a staggered economic recovery from the coronavirus outbreak. The Dow Jones Industrial Average fell 170.51 points, or 0.72 per cent, at the open to 23,454.83.
Forex reserves surge by $4.235 billion to $485.31 billion
The country’s foreign exchange reserves surged by $4.235 billion to $485.313 billion in the week to May 8 on account of rise in the foreign currency assets, according to the Reserve Bank of India. In the previous week, the reserves had increased by $1.622 billion to $481.078 billion.
213 stocks hit upper circuit
Over 200 stocks hit the upper circuit limits set by BSE on…
Go to the news source: Traders’ Diary: Nifty sees immediate support at 9,050 level