Good morning!
Here are the top stories to start your day.
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⭐ Coal India’s revenue jumps
Coal India has reported a 28% year-on-year (YoY) rise in its consolidated revenue at ₹29,838 crore during the September quarter. Meanwhile, its net profit jumped 106% YoY to ₹6,043 crore. The company also announced an interim dividend of ₹15 per share, which will be paid by 6 December 2022.
⭐ Ujjivan SFB reports high profits
Ujjivan Small Finance Bank has posted its highest ever quarterly profit of ₹294 crore in Q2 of FY23. The bank had made a loss of ₹274 crore in the same quarter of last year. Its NII jumped by 69% YoY to ₹663 crore, while disbursement went up by 56% YoY to ₹4,866 crore.
⭐Sequent Scientific acquires Tineta Pharma
Leading animal health company Sequent Scientific has acquired a 100% stake in Tineta Pharma for an enterprise value of ₹218 crore. The transaction will take place through a cash consideration of ₹153 crore and preferential allotment of shares worth ₹65 crore. The acquisition will help the company to rapidly expand its India formulations business.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.31% |
| Nikkei 225 (Japan) | ▼ 0.25% |
| Hang Seng (Hong Kong) | ▲ 0.20% |
| SSE Composite (China) | ▼ 0.07% |
| Dow Jones (US) (November 08) | ▲ 1.02% |
| NYSE (US) (November 08) | ▲ 0.51% |
| Nasdaq (US) (November 08) | ▲ 0.49% |
| S&P 500 (US) (November 08) | ▲ 0.56% |
Fact of the day
Tata Motors has rolled out its 50,000th electric vehicle in India, since starting the production in June 2019.
Source: The Hindu