Wednesday, March 11
Premier Industrial Corporation, Virupaksha Organics, Hexagon Nutrition, Om Power Transmission and Duroflex have secured approval from the Securities and Exchange Board of India (Sebi) to proceed with their initial public offerings (IPOs). All five companies received Sebi's observation during the week. In IPO parlance, Sebi's 'observation' refers to the formal comments or clearance issued by the regulator on a company’s draft IPO documents.Premier Industrial Corporation IPOPremier Industrial Corporation's IPO will be a mix of fresh issue and an offer for sale (OFS). The company received Sebi's observation letter on February 10.Under the issue, 2.79 crore equity shares will be offloaded by the company. In this, the fresh issue will be up to 2.25 crore while the OFS will be up to 54 lakh eq
Lossmaking Indian two-wheeler maker Ola Electric said on Friday that it seeks to lower its operating costs by as much as 50% in the coming quarters, after posting a narrower third-quarter loss as it sets its sights on turning profitable.The SoftBank-backed firm posted a narrower quarterly loss of 4.87 billion rupees ($53.75 million) as its new lineup of models cost less to produce, partly offsetting a sales slump.Ola, which once led India's electric two-wheeler market with a 50% market share at its peak, has stumbled over the last year, affected by a deluge of complaints about its service centres that drew regulatory scrutiny."As EV penetration growth has slowed and our service execution has required strengthening, we chose to realign our retail footprint, cost s
State-owned Engineers India Ltd (EIL) reported an over 3-fold on-year jump in net profit to Rs 302 crore for the third quarter ended December 31, 2025, driven by strong execution and higher revenues.The net profit of Rs 301.73 crore in October-December -- the third quarter of the current 2025-26 financial year -- compared to Rs 88.1 crore earnings in the same period of the previous fiscal, the company said in a statement.In an investor presentation, EIL said while pre-tax earnings from consultancy business were largely unchanged at Rs 104.3 crore, those from executing turnkey contracts saw a surge to Rs 273.68 crore in Q3 from Rs 18.92 crore a year back.Turnover rose to 59 per cent to Rs 1,194 crore as revenue from the turnkey business doubled.For the nine months ended December 31, 2025, n
