Reported Consolidated quarterly numbers for Flair Writing Industries are: Net Sales at Rs 224.92 crore in December 2023 up 0% from Rs. 0.00 crore in December 2022. Flair Writing shares closed at 264.20 on February 13, 2024 (NSE) Flair Writing Industries Consolidated Quarterly Results in Rs. Cr. Dec'23 Sep'23 Net Sales/Income from operations.

South Korean automaker Hyundai Motor Company has picked law firm Shardul Amarchand Mangaldas (SAM) as counsel for the proposed IPO of its Indian subsidiary, Hyundai Motors India Ltd, according to sources familiar with the development. Moneycontrol also learns that global law firm Latham & Watkins has been hired by Hyundai Motor to act as international legal counsel for the IPO. 

Chinese handset brand OnePlus is under fire for allegedly offering low margins, delayed settlements, and inadequate supply to offline mobile retailers in India. Retailers claim that the diversion of products from e-commerce to retail channels through exclusive offers undermines their potential and hinders the brand's growth.

The Insolvency and Bankruptcy Board of India has introduced amendments to improve the liquidation process, promote accountability, and increase stakeholder confidence. One change excludes assets that have been handed over to allottees in real estate projects from the liquidation estate. The liquidator can also reduce reserve prices for assets with approval from stakeholders.

Sanjay Kumar Jain, an Indian Railway Traffic Services (IRTS) Officer of 1990 batch, has taken over as the chairman and managing director of Indian Railway Catering and Tourism Corporation (IRCTC) with immediate effect, a regulatory filing stated on February 14. His appointment was given the nod by the Ministry of Railways on February 8. The appointment has been made on "immediate absorption basis"

The IBBI has amended regulations for the liquidation process to make it more efficient and ensure accountability. Liquidators must hold regular SCC meetings and provide comprehensive reports on progress. They can reduce reserve prices by up to 25% for assets with existing valuation, or 10% for assets with fresh valuation with SCC approval.

The Delhi High Court on February 14 asked low-cost airline SpiceJet and Engine Lease Finance BV to come up with names of agencies that can assess engines. The two sides have been making opposing claims on the condition of a leased engine. The engine, which is in possession of the SpiceJet, is at the centre of the legal battle between the two sides, with the lessor accusing the cash-strapped air.

Galaxy Cloud Kitchens reported a decline in net sales by 74.68% and a decrease in net loss by 467.42% in the December 2023 quarter compared to the same period last year. EBITDA also showed a negative trend, decreasing by 854.84%. Despite this, Galaxy Cloud's stock has seen a 40.05% increase in the past 6 months and a 2.73% return over the last 12 months.

Reported Standalone quarterly numbers for Pilani Investment and Industries Corporation are: Net Sales at Rs 61.51 crore in December 2023 up 17.45% from Rs. 52.37 crore in December 2022. Quarterly Net Profit at Rs. 27.83 crore in December 2023 down 16.05% from Rs. 33.15 crore in December 2022. EBITDA stands at Rs. 56.74 crore in December 2023 up 11.04% from Rs. 51.10 crore in December 2022.

Gold prices in Delhi dropped by Rs 750 per 10 grams to reach Rs 62,350, while silver plummeted by Rs 1,400 to Rs 74,000 per kg. This decline was attributed to weak global cues, with spot gold at Comex trading at USD 1,995 per ounce. The drop in prices came after higher-than-expected US CPI data, which raised doubts about the Federal Reserve's monetary policy easing.

Reported Standalone quarterly numbers for Acknit Industries Ltd. are: Net Sales at Rs 46.33 crore in December 2023 down 3.27% from Rs. 47.90 crore in December 2022. Quarterly Net Profit at Rs. 2.00 crore in December 2023 down 13.24% from Rs. 2.30 crore in December 2022. EBITDA stands at Rs. 4.04 crore in December 2023 down 11.4% from Rs. 4.56 crore in December 2022.

Hyundai Motor is planning a $3 billion IPO in India to expand in the fast-growing market and address the "Korea discount" that lowers its value in South Korea. The IPO could be India's largest and Hyundai's first listing outside of South Korea. It will help fund EV launches, create infrastructure, and increase manufacturing capacity.

Reported Standalone quarterly numbers for Supertex Industries are: Net Sales at Rs 12.91 crore in December 2023 up 58.79% from Rs. 8.13 crore in December 2022. Quarterly Net Profit at Rs. 0.12 crore in December 2023 up 165.28% from Rs. 0.18 crore in December 2022. EBITDA stands at Rs. 1.18 crore in December 2023 up 22.92% from Rs. 0.96 crore in December 2022.

Reported Consolidated quarterly numbers for Zee Media Corporation are: Net Sales at Rs 167.31 crore in December 2023 down 2.27% from Rs. 171.20 crore in December 2022. Quarterly Net Loss at Rs. 35.91 crore in December 2023 down 87.42% from Rs. 19.16 crore in December 2022. EBITDA stands negative at Rs. 22.24 crore in December 2023 down 434.44% from Rs. 6.65 crore in December 2022.

Muthoot Finance's net profit in the October-December period of the current fiscal came in at Rs 1,027.3 crore, which is 13.9 percent higher as against the year-ago quarter, as per the financial results declared by the company on February 14. The company's net profit in the corresponding period of the previous fiscal stood at Rs 901.7 crore.