Finolex Industries surged 8.38% to Rs 642.40 after consolidated net profit soared 163.30% to Rs 259.40 crore on 52.5% increase in net sales to Rs 1,066.88 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) surged 163% to Rs 348.96 crore in Q3 December 2020 as against Rs 132.67 crore in Q3 December 2019. Current tax expense for the quarter jumped 122% to Rs 88.81 crore as against Rs 40.01 crore in Q3 December 2019.
The board has also declared a stock split in the ratio 1:5 (one equity share of Rs 10 will be split into five equity shares of face value Rs 2 each).
Speaking on the Q3 performance, Prakash P. Chhabria, the chairman of Finolex Industries, said: The current year witnessed extremely challenging circumstances in terms of the impact of the pandemic on global and Indian economies. Although, it has encouraged India to become self-sufficient and stimulated the overall concept of Atmanirbhar Bharat for betterment of the nation. However, the
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NEW DELHI: The benchmark equity index BSE Sensex was trading 870.06 points up at 49470.67 on account of buying in frontline bluechip counters.
On the BSE,
S M Gold (down 18.50 per cent) , Baid Leasing (down 10.36 per cent) , Kaira Can (down 10 per cent) , Gujarat Hy-Spin (down 9.68 per cent) , Uday Jewellery (down 9.48 per cent) ,
Magnum Ventures (down 9.07 per cent) , Beardsell (down 8.41 per cent) , Gujarat Hotels (down 7.41 per cent) , Gujarat Sidhee Cement (down 6.58 per cent) and Riba Textiles (down 6.44 per cent) were among the top losers.
In the Nifty pack, 35 stocks were in the green, while 15 stocks were in the red.
The Nifty index was trading 255.55 points up at 14536.75.
Benchmark indices rallied for the second day on Tuesday, as investors cheered the Union Budget announcements. Positive global cues also lifted the sentiment. The Nifty managed to close near 14,650 level.
As per the provisional closing data, the barometer index, the S&P BSE Sensex, soared 1,197.11 points or 2.46% at 49,797.17. The Nifty 50 index surged 367.8 points or 2.58% at 14,649.80.
The broader market lagged the benchmark indices. The S&P BSE Mid-Cap index gained 2.26% while the S&P BSE Small-Cap index gained 1.59%.
Buyers outnumbered sellers. On the BSE, 1,768 shares rose and 1,173 shares fell. A total of 173 shares were unchanged.
The Union Budget 2021 unveiled on 1 February 2021 supported all the essential aspects of growth by an increase in government spending without an increase in indirect taxes. The Budget offered huge stimulus to infrastructure, capex, healthcare and boosted the credit flow by taking out the toxic assets of the banking system. Increased FDI limit in
MediBuddy raises $40 million in Series B funding
The companies raised money for funding expansion plans, retiring debt, supporting working capital requirements and other general corporate purposes.
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BENGALURU :
Digital healthcare platform MediBuddy on Tuesday said that it has closed its Series B funding at $40 million led by India Life Sciences Fund III, LLC, along with participation from other investors.
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The company had earlier raised $20 million in June 2020 as part of its ongoing Series B round, while announcing its merger with online doctor consultation startup DocsApp. The company now said that moving forward both companies will be operating under a single brand name - MediBuddy.
All eyes on the Budget pronouncements on Monday. There is a hope in the market that the Budget most likely will arrest the 6-day slide in the benchmark indices. Analysts are expecting Finance Minister