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Persistent Systems robust Q3

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Persistent Systems robust Q3

Persistent Systems reported robust quarterly numbers. Its revenue rose by 45%YoY to ₹2,169 crore in the December quarter, while net profit was at ₹238 crore, a rise of 34% YoY. Following upbeat quarterly results, the company declared an interim dividend of ₹28 per share.

India aims for higher coal production

The government has set a coal production target of more than one billion tonnes (BT) for the next financial year. Of which state-owned Coal India has been given a target to produce 780 MT of coal, followed by 75 MT to Singareni Collieries Company. Coal India accounts for 80% of domestic coal production.

Rallis India Q3- a disappointing quarter

Tata Group company Rallis India has reported a 0.4% YoY rise in revenue to ₹630 crore during the December quarter. Meanwhile, the net profit decreased by over 43% to 23 crore. As per management, the company's business is seasonal in nature and the performance may be impacted by weather conditions and cropping patterns.


Global markets (at 9:00 AM today)

Indices Today's movement
SGX Nifty ▼ 0.49%
Nikkei 225 (Japan) ▼ 1.52%
Hang Seng (Hong Kong) ▲ 0.10%
SSE Composite (China) ▲ 0.13%
Dow Jones (US) (January 18) ▼ 1.81%
NYSE (US) (January 18) ▼ 1.81%
Nasdaq (US) (January 18) ▼ 1.24%
S&P 500 (US) (January 18) ▼ 1.56%

Fact of the day

India’s steel production rises 5.7% in the first nine months of FY23

Source: LiveMint

Categories: Morning Update