The Singapore government is cementing its place as the largest FPI in the Indian market, with its sovereign fund’s India assets now standing roughly at the same level as the next two funds put together. At the end of the September quarter, Singapore government held shares worth Rs 2.69 lakh crore compared to Norges Bank, which was in second place, with Rs 1.42 lakh crore.
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Hi-Tech Pipes on Wednesday posted a 72 percent increase in its consolidated net profit, reaching Rs 18.11 crore for the second quarter, driven by reduced expenses. Steel products manufacturer had recorded a net profit of Rs 10.52 crore for the same period in the previous fiscal, it informed the stock exchanges on Tuesday. Total income for the quarter dipped to Rs 706.86 crore.
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RITES reported its Q2 results on Wednesday afternoon. What Happened: RITES saw its consolidated net profit decline 25.11% year on year to ₹82.5 crore. The public sector company’s revenue declined 7.12% from the previous year to ₹540.86 crore. The numbers missed the analyst estimates of ₹91 crore net profit and ₹553 crore revenue.
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