State-owned Power Finance Corporation (PFC) on Wednesday posted a nearly 10 per cent rise in the consolidated net profit at Rs 4,295.90 crore in the March quarter mainly on the back of higher revenues.

The consolidated net profit of the company was at Rs 3,906.05 crore in the year-ago period, a BSE filing showed.

The district administration of Dakshina Kannada on Wednesday clamped prohibitory orders in the surrounding areas of the Malali mosque near Mangaluru city.

Temple structure was found on April 21 during the renovation of the mosque, stirring a controversy. Following this, the court had ordered the mosque management to stop the work.

The rift between Samajwadi Party president Akhilesh Yadav and senior party MLA Mohd Azam Khan is now getting wider and meetings between Azam Khan and another estranged leader Shivpal are getting increasingly frequent.

Azam Khan was in Lucknow for two days but did not meet his party president. He went to the state Assembly for his swearing in but did not go inside the Vidhan Sabha to meet Akhilesh.

Gold on Wednesday became dearer by Rs 600 per 10 gms, with 24-carat gold trading at Rs 52,090. The rate of silver on Wednesday decreased by Rs 600 per kg to Rs 61,600.

The price of 10 grams of 22-carat gold went up by Rs 600 from the previous day's rate, with the metal trading at Rs 47,750, according to the Goodreturns website.

With an aim to create next-gen experiences, tech giant Microsoft has announced that it is sharing new updates to Windows 11 and the Microsoft Store for developers.

The new updates include app-building tools to enable developers to take their existing code and make it incredibly compelling on Windows, new ways to reach and engage customers through the Microsoft Store, etc.

Shares of sugar companies were under pressure for the second straight day, falling up to 9 per cent on the BSE in Wednesday’s trade after the government on Tuesday imposed restrictions on sugar exports from June 1.

The government plans to regulate sugar exports and would allow 10 MT of exports in current sugar season. Sugar mills have already contracted for 9 MT of exports and exported 7.8 MT.

Shares of Minda Industries rallied 9 per cent to Rs 906.45 on the BSE in Wednesday’s intra-day trade after the company recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus share for every one share held.

The company has fixed June 10, 2022 as the record date for the purpose of determining the eligibility of shareholders or beneficial owners, who shall be entitled to receive the bonus shares.

Four listed firms of the Kishiore Biyani-led Future Group on Tuesday expressed their inability to convene a board meeting before May 30 to approve their financial results for the quarter and year ended March 31 on account of vacant positions on their respective boards.

The companies are -- Future Retail Ltd, Future Lifestyle Fashion Ltd, Future Supply Chain Solutions Ltd and Future Enterprises Ltd.

South Korean consumer electronics major LG is targeting for a 32 per cent share of the Indian TV market in 2022, with a gain of around 5 per cent to become the number one player in the segment, a top company official said.

The company is banking on its country-specific product line-up with local insights, expansion of retail and after-sales network, as it seeks to be the leading player in the TV segment providing a quality viewing experience to its customers, LG Electronics India Director- Home Entertainment Hak Hyun Kim told PTI.

The prospects of prolonged inflation and slower economic growth in the world are rising, and they expose 12 Indian corporations -- eight public sector entities (all in energy and utilities) and four private sector firms -- to “elevated” downgrade risks, according to Fitch Rating.

India's sovereign rating shall play a prominent role in determining whether such risk crystallises for 12 of these India-based companies. These eight PSUs facing elevated downgrade risks are Indian Oil, Hindustan Petroleum, Bharat Petroleum, GAIL, ONGC, Oil India, NTPC, and Powergrid.

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