Friday, November 29
Electronics hardware manufacturer Dixon Technologies Tuesday notified incorporation of a wholly-owned subsidiary Dixon Teletech to make components for IT hardware products. The contract manufacturer is setting up facilities to ramp up laptop assembling under the production-linked incentive scheme for IT Hardware, with orders from the top four laptop brands in the country - HP, Lenovo, Acer, and Asus."The wholly owned subsidiary has been incorporated with an object to undertake manufacturing and dealing in, inter-alia, all kinds of Information Technology Products including Information Technology (IT) hardware components, related products, equipment and components thereof," the company said in an exchange filing.
Capital markets regulator Sebi on Monday directed Embassy Office Parks Management Services, the manager of Embassy REIT, to suspend its CEO Aravind Maiya. The regulator also told Embassy Office Parks to appoint an interim CEO with immediate effect.This interim order follows a previous order by the National Financial Reporting Authority (NFRA), which debarred Maiya for 10 years over alleged professional misconduct linked to his former role as an auditor for Coffee Day Enterprises Ltd (CDEL).NFRA’s findings highlighted serious lapses in audit standards and due diligence under Maiya’s watch, which contributed to a high-profile financial scandal involving CDEL.Sebi said these lapses, according to NFRA, led to significant investor losses, questioning Maiya’s adherence to the rigorous stan
Durg maker Dr. Reddy's Laboratories is likely to report healthy double-digit growth in sales in the second quarter, mainly driven by strong domestic and US businesses. However, the bottom line is seen declining in the reporting period.Net profit for the July-September 2024 period may fall 3% year-on-year, according to an average estimate of four brokerages. Meanwhile, sales are likely to grow 13% year-on-year, the estimates revealed.Analysts are building US revenue at $419 million, driven by strong gRevlimid contribution. The India business may rise 19% YoY driven by organic 11% YoY growth and Rs 100 crore contribution of the vaccine business.Here's what to expect from Dr Reddy's Q2:Kotak EquitiesWe expect the North American base business (ex-gRevlimid) sales to decline 2% QoQ to $330 mill
Shares of Bajaj Auto fell by 5% to its day’s low of Rs 9,401 on the BSE after the company on Monday posted its October sales number reporting merely a 2% YoY rise to 4,79,707 units.The total number of vehicles sold was reported at 4,71,188 units in October 2023.The company reported its domestic sales figure for the 2-wheeler segment at 2,55,909 units, which has declined by 8% on a year-on-year basis from 2,78,486 units sold in October 2023. The exports, however, surged by 22% YoY to 1,58,463 units.The commercial vehicle segment witnessed a 4% decline in its sales to 47,922 units while the exports grew by 46% to 17,413 units, up from 11,912 units in the year-ago period.In the current financial year so far, the company recorded a 10% YoY surge in its total sales. The two-wheeler segment sa
