National Aluminium Company (NALCO) share price surged over 5% in the early trading session on Tuesday, as the company reported 102% jump in net profit, reaching Rs 996.7 crore in the Q4 results year-on-year. The shares soared as much as 5.79%, reaching an intraday high of Rs 206.30 per share on the NSE.

State-owned Nalco reported a two-fold increase in consolidated profit, reaching Rs 996.74 crore for the March quarter, driven by lower expenses. This is a significant rise from the Rs 495 crore profit recorded in the same quarter of FY23, according to a filing by Nalco to the BSE.

However, the consolidated total income for the quarter declined to Rs 3,663.09 crore from Rs 3,726.76 crore in the previous year. The company’s expenses in the fourth quarter of FY…

Entero Healthcare Solutions opened its subscription to retail investors on February 09. The book-built issue will raise Rs 1,600 crore in total, through fresh issue and offer for sale. 

The company has set the IPO’s price band at Rs 1,195 – 1,258 per equity share. The issue will close on February 13 and will be listed on both the bourses, NSE and BSE.  

The company will be offering 0.79 crore shares through the fresh issue, raising Rs 1,000 crore. It will raise Rs 600 crore by offering 0.48 crore shares through the offer for sale. A minimum of 11 shares needs to be bided by a retail investor, summing to Rs 13,838.

Byju assures employees of speedy resolution, says he’s not a fugitive, will raise personal debt if required These 70 med…

By Gaurang Somaiya

Rupee fell to fresh record lows last week following a system outage and other trigger triggered volatility for the rupee. Broadly, for the week, it traded in a narrow range despite swings witnessed in the dollar against its major crosses. Fed Chairman’s statement was scheduled during the week and he continued to remain hawkish. Dollar gained after the Fed Chairman’s comments and US treasuries gained after falling to levels of 4.40 – 4.50%. In his commentary, the Fed Chairman did appreciate the slowing pace of inflation but is unsure whether the central bank has done enough to keep the momentum going. He also added that inflation is above what the Fed targets while describing policy as ‘significantly restrictive.’

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By Gaurang Somaiya

Rupee rose sharply following suspected dollar inflow and lower trade deficit number in November. Data showed deficit narrowed $20.58 billion in November as compared to $31.46 billion in the previous month. 

This fiscal, India’s merchandise exports stood at $278.80 billion, down 6.51% annually, while merchandise imports stood at $445.15 billion, down 8.67% annually. For the week, the rupee traded in a narrow range and volatility remained in check following active RBI intervention. Latest data released from the RBI showed forex reserves rose to the highest level in 20-months to $615.9 billion. 

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