Companies and Markets

Companies & Markets

Bharat Forge announces 1:1 bonus, net up 43%

Bharat Forge, the world’s biggest forging company, which reported its net profit in the three months to June quarter rise by 43 per cent to Rs 175 crore due to higher income on Thursday, also announced 1:1 bonus issue. The net profit was higher than the Rs 159 crore estimate of analysts tracked by Bloomberg.

The Pune-based auto components maker had clocked a net profit of Rs 122.06 crore during the same period of the previous fiscal, Bharat Forge said in a BSE filing.

Dolly Khanna: the name is enough to stir up Dalal Street

When Dolly Khanna, a ‘home-maker’ from Chennai, picks up a stock, it creates a buzz on Dalal Street. From big bull Rakesh Jhunjhunwala to the smallest trader on India’s financial capital will know she has chosen the stock for a solid reason and will start digging deep on the company and its prospects. The most surprising thing is that very little is known about reclusive Dolly Khanna, except that her husband Rajiv Khanna is actually making the investment decision on her behalf.

Sensex posts fourth consecutive session of falls

Indian shares fell for a fourth straight session on Thursday, as Tata Motors dragged indexes down after its results failed to meet expectations, while sentiment was also hurt by worries about simmering U.S.-North Korea tensions.

Reliance takes a $1b contrarian bond bet

The Reliance Group has boosted the duration of its bond portfolio, moving about Rs 7,000 crore ($1.1 billion) from short-term funds to income funds at some of India’s top asset managers in anticipation of a fall in interest rates, people with direct knowledge of the matter said.

New Tata chairman hires team to trim businesses

Nearly six months after his turbulent elevation to run the country’s biggest conglomerate, Natarajan Chandrasekaran is assembling a team of dealmakers to refocus some of the group’s biggest businesses, expand its financial services and consumer businesses and sell or merge dozens of smaller units, according to interviews with senior executives.