Puma, the world’s third-largest sporting goods company, has revised its full-year core profit forecast downward due to adverse currency effects and ongoing supply chain disruptions. The company now expects earnings before interest and taxes (EBIT) to range between €620 million and €670 million, down from the previous upper estimate of €700 million.
Revised Profit Outlook
Puma’s updated…
Shares of Fusion Micro Finance Ltd fell dramatically on Wednesday, hitting the lower circuit limit of 20% and trading at Rs 346.80 per share, following the company’s disappointing first-quarter financial results. The steep decline comes as the microfinance institution reported significant losses and a sharp deterioration in asset quality.
Weak Financial Performance and Asset Quality…
Adani Enterprises has issued a formal clarification in response to media reports suggesting that Group Chairman Gautam Adani plans to step down at age 70 and transfer control of the conglomerate to his sons and cousins in the early 2030s. The company addressed these claims following confusion and misinterpretation of Adani’s comments regarding succession planning.
Clarification from Adani…
Gentari Green Mobility India has unveiled the “Gentari Go” app, a significant advancement in the country’s clean energy landscape. The app integrates a range of sustainable solutions, including electric vehicle (EV) charging, home solar systems, and forthcoming test drive options.
Navjit Gill, Gentari’s Country Head for India, emphasized the company’s dedication to achieving net-zero…
The Directorate General of Goods and Services Tax Intelligence (DGGI) has issued show cause notices to ten foreign airlines over an alleged ₹10,000 crore in unpaid taxes. The list includes major carriers such as Emirates, Lufthansa, British Airways, Singapore Airlines, and Oman Air.
The notices, dispatched over the past three days, address unpaid tax dues related to the import of services by…
Manish Tiwary, the head of Amazon India’s operations, has announced his resignation to explore new opportunities, concluding an eight-year tenure with the e-commerce giant. Tiwary, who joined Amazon India from Unilever in 2016, has served as vice president before becoming country manager in 2020. In his role, he led the consumer and seller services vertical for four years.
Tiwary will remain…
The initial public offering (IPO) of Brainbees Solutions Ltd, operating under the FirstCry brand, opened for subscription today, August 6, 2024. As of 1:30 PM IST on the first day, the IPO has been subscribed 7% overall. This public offering is expected to close on August 8, 2024, with the allotment scheduled for August 9 and the listing date set for August 13.
IPO Details
The Brainbees Solutions…
BLS International’s share price surged by 10% today, reflecting strong market enthusiasm following the company’s impressive Q1 FY25 financial results. The stock opened with an upside gap at ₹378.45 per share on the NSE and quickly reached an intraday high of ₹387, marking a significant increase from Monday’s closing price of ₹349.90.
Market Reaction
The notable gain in BLS…
The highly anticipated allotment for Ceigall India Ltd’s initial public offering (IPO) is set to be finalized today, August 6, 2024. Investors who participated in the IPO, which was open for subscription from August 1 to August 5, are eagerly awaiting to see if they have secured shares in this infrastructure construction company.
IPO Allotment and GMP
Ceigall India’s IPO generated significant…
The BSE Smallcap 250 index, which has been on a robust upward trajectory since the COVID-19 crash in 2020, is now showing signs of potential instability, according to a recent analysis by Capitalmind Financial Services. The index has surged by an impressive 96% since April 2023, significantly outperforming the Sensex, which has risen by 34% over the same period. However, this remarkable…
