Raymond Group on Friday announced the acquisition of 59.25 per cent stake in Maini Precision Products (MMP) for Rs 682 crore. The company will fund the deal through a mix of debt and internal accruals.

“This acquisition is a strategic move to further strengthen Raymond’s existing engineering business with a complementing business that has presence in sectors like aerospace, electric vehicles (EV) and defense,” the company said in its release.

Apple has set the tone for Diwali with its announcement of record India revenues during the September-ending quarter. In an earnings call with analysts early morning (India time) on Friday, Apple chief executive officer Tim Cook said revenue from the company’s India business grew in double digits year-on-year (Y-o-Y) to set an all-time record in the fourth quarter of FY23.

Cupertino-based Apple, which typically starts its financial year on the last Sunday of September, has attributed the record India revenues to robust iPhone sales.

Eight stocks including Indian Railway Finance Corporation (IRFC), Polycab India, Macrotech Developers (Lodha) are seen migrating from midcap to largecap universe. Meanwhile, 13 stocks will graduate from smallcap universe to midcap universe during the semi-annual rebalancing due next month.

“Based on the average market cap from July 1 to October 31, there are a lot of stocks expected to migrate between market cap segments. However, with around one-third of the review period yet to go, there will be changes to the list as stock prices move around,”.

The consolidated net profit of Zomato in the quarter that ended on September 30 stood at Rs 36 crore. However, in Q2FY23, the consolidated net loss stood at Rs 251 crore. As compared to Rs 2 crore in the previous quarter, the net profit was up 1,700 per cent.

The company's revenue from operations was up 71.46 per cent to Rs 2,848 crore during the quarter under review against Rs 1,661 crore last year.

Shares of Suzlon Energy hit nine-year high of Rs 34.44, up 5 per cent on the BSE in Friday's intraday trade, after the company reported 82 per cent year-on-year (Y-o-Y) rise in its consolidated profit after tax (PAT) at Rs 102 crore for the September quarter (Q2FY24) mainly due to decline in expenses. The company had posted PAT of Rs 56 crore in the year ago quarter. Shares of Suzlon Energy were quoting at their highest level since June 2014. It surpassed its previous high of Rs 34.10, touched on October 23.

Shiv Nadar, founder-chairman of HCL Technologies, has emerged as India’s most generous businessman, donating Rs 2,042 crore in the last financial year. That’s an average of Rs 5.6 crore per day and 76 per cent more than the amount he donated in FY22, when he gave away upwards of Rs 3 crore per day on average.

Overall, 119 Indian business tycoons donated Rs 5 crore or more in FY23, together contributing Rs 8,445 crore for philanthropic activities.

The air quality in several parts of Delhi reeled under the 'severe' category on Friday morning with Mundka recording the highest Air Quality Index (498), as per Central Pollution Control Board (CPCB). As the quality of air deteriorated, a thick haze blanketed the skyline of the national capital.

According to the CPCB, the AQI in the Lodhi Road area was recorded at 438, in Jahangirpuri at 491, in the RK Puram area and in IGI Airport (T3) at 486 and 473 respectively.

The price of 24-carat gold jumped Rs 110 in early trade on Friday, with ten grams of the precious metal selling for Rs 61,640, according to the GoodReturns website. The price of silver saw an increase of Rs 700, with one kilogram of the precious metal selling at Rs 74,800.

The price of 22-carat gold also rose by Rs 100, with the yellow metal selling at Rs 56,500.

In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 61,640.

The Centre has sent a notice to tech major Apple regarding the threat notification received by several members of Parliament (MPs), which read "state-sponsored attackers may be targeting your iPhone", the Information Technology (IT) Secretary S Krishnan said on Thursday.

This comes after the Centre said that the Indian Computer Emergency Response Team (CERT-In) has initiated an investigation into Apple threat notification. CERT-In is the national nodal agency for responding to computer security incidents as and when they occur.

Tata Motors on Thursday reported a net profit of Rs 3,764 crore in the quarter that ended on September 30, as compared to the loss of Rs 944.61 crore in the corresponding quarter last year. The net profit was up 17.5 per cent from Rs 3,202.80 crore in the previous quarter.

The company's total revenue from operations was Rs 1.05 trillion, up 32 per cent from Rs 79,611.37 crore in the same quarter last year. The total revenue was also up from Rs 1.02 trillion in the previous quarter.

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