Adani Enterprises’ fourth-quarter profit declined by 38% to ₹450 crore: Factories of all spice manufacturing companies will be inspected, Rakesh Singh becomes CEO of Paytm Money

Yesterday’s big news was related to Adani Enterprises. Adani Enterprises’ consolidated net profit for the January-March quarter of financial year 2024 declined by 38% on an annual basis (YoY) to ₹ 450.58 crore. The Food Safety Regulator of India has now ordered testing and inspection of the products of all spice mix manufacturing companies including MDH and Everest. Before tomorrow’s big news, today’s major events to keep an eye on… Now read tomorrow’s big news… 1. Adani Enterprises’ fourth-quarter profit declined by 38% to ₹ 450 crore: Company’s income around 1%. Increased, the company will give a dividend of Rs 1.3 per share Adani Group’s flagship company Adani Enterprises on Thursday (May 2) released the results of Q4FY24 i.e. the fourth quarter of the financial year 2024. In the January-March quarter, the company’s consolidated net profit declined by 38% on an annual basis (YoY) to ₹ 450.58 crore. The company’s consolidated net profit in the same quarter last year was ₹722.48 crore. Whereas in the last quarter (Q3FY24) it was ₹1,888.45 crore. That means the company’s consolidated net profit has declined by 76.14% on quarterly basis (QoQ). Click here to read full news 2. Factories of all spice manufacturing companies will be inspected: FSSAI also ordered sampling and testing of the companies’ products. India’s Food Safety Regulator has now inspected all spice mix manufacturing companies including MDH and Everest. Orders have been given for testing and investigation of the companies’ products. On Thursday, the regulator said the scope of investigation in the sector has been increased as global regulators are investigating the pesticide ethylene oxide in the products of two popular local brands. Food Safety and Standards Authority of India i.e. FSSAI has now asked officials to keep an eye on companies manufacturing curry powder and mixed masala blends for local and foreign sales. Click here to read full news 3. ‘eCOM’ and ‘Insta EMI’ loans will be available from Bajaj Finance: RBI removed the ban on loan approval and disbursal, following the guidelines will be reviewed Reserve Bank of India (RBI) Banking financial company Bajaj Finance has lifted the ban on two products ‘eCOM’ and online digital ‘Insta EMI Card’. The company has given this information in its exchange filing today (May 2). The company said it will now be able to resume loan approval and disbursal in these two business segments, including EMI card issuance. Due to not following the guidelines, RBI had on November 15, 2023 directed Bajaj Finance to stop the approval and disbursal of loans under its two loan products ‘eCOM’ and ‘Insta EMI Card’ with immediate effect. The central bank had asked Bajaj Finance to rectify the shortcomings, after which the restrictions imposed would be reviewed. Click here to read the full news 4. Rakesh Singh becomes CEO of Paytm Money: Will replace Varun Sridhar, who brought the company to profit, had a profit of ₹ 42.8 crore in the financial year 2023. Paytm Money, the wealth management platform of One97 Communications Limited, Rakesh Singh has been appointed CEO in place of Varun Sridhar. Varun Sridhar was the Chief Executive Officer of Paytm Money since 2020. Economics Times has given this information in one of its reports quoting sources. Rakesh Singh has joined Paytm Money only last month. Prior to this, he was the CEO of Broking Services at Fisdom, a fintech company associated with payments company PayU. According to the report, Varun Sridhar has been given another responsibility within the group. However, no information regarding this has been given officially by the company. Click here to read the full news 5. Coal India’s fourth-quarter profit increased by 26% to ₹ 8,640: Company’s income decreased by 2%, the company will pay a dividend of Rs 5 per share. Government company Coal India Limited on Thursday (May 2 ) released the results of Q4FY24 i.e. the fourth quarter of the financial year 2024. In the January-March quarter, the company’s consolidated net profit increased by 26% year-on-year (YoY) to ₹ 8,640.5 crore. The company’s consolidated net profit in the same quarter last year was ₹6,869.5 crore. Whereas in the last quarter (Q3FY24) it was ₹10,154.68 crore. That means the company’s consolidated net profit has declined by 14.91% on quarterly basis (QoQ). Click here to read full news 6. NPCI will create a payment system like UPI for Namibia: Agreement with Bank of Namibia, its aim is to increase digital transactions in the African country. NPCI International Payments Limited (NIPL) will create a payment system like UPI for Namibia. Will help in developing instant payment system. NIPL has signed an agreement with Bank of Namibia (BON) for this. National Payments Corporation of India (NPCI) gave information about this today i.e. on 2 May. The agreement aims to enhance digital financial services in the African country, supporting real-time person-to-person (P2P) and merchant payment transactions (P2M). Click here to read full news 7. India’s thinnest smartphone with 5500mAh battery launched: Vivo V30e has 6.78 inch full HD+ display and 50MP selfie camera, starting price ₹ 27,999 Chinese tech company Vivo has (2 May) Vivo V30e smartphone. Has been launched in India. The company claims that this is the thinnest smartphone with 5500mAh battery in the Indian market. Its thickness is 7.65mm. Apart from this, the company will get 6.78 inch full HD + AMOLED display, 50MP main camera and Qualcomm Snapdragon 6 Gen1 chipset in this phone. The smartphone has been introduced in two storage variants with 8GB RAM. Its starting price is Rs 27,999 thousand. The phone is available with two color options – Velvet Red and Silk Blue. The company is giving a cash discount of Rs 3,000 on using HDFC and SBI cards. Let’s know about the full specifications of the smartphone… Click here to read the complete news Now read the news you need… Aadhaar Housing Finance IPO will open on May 8: Company wants to raise ₹ 3,000 crore, retail Investors can invest a minimum of ₹ 14,805. The initial public offering (IPO) of finance company Aadhar Housing Finance Limited will open on May 8. The company wants to raise Rs 3,000 crore through this. In this IPO, the company will issue 3.17 crore new shares for ₹1,000 crore. At the same time, through Offer for Sale i.e. OFS, the company will raise ₹ 2,000 crore by selling 6.35 crore shares. Retail investors will be able to bid for this IPO from May 8 to May 10. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on May 15. If you are also planning to invest money in this IPO, then we are telling you how much you can invest in it… Click here to read the full news Who will be the top 10 richest in the world tomorrow? Take a look… Know the condition of tomorrow’s share market and gold and silver… Know the latest price of petrol, diesel and gas cylinder…

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