Latest news with #601
Time of India
3 days ago
- Business
- Time of India
ITI shares surge over 18% in two days after Q4 loss narrows sharply
Shares of ITI surged more than 18% over the past two trading sessions after the company reported a sharp reduction in its quarterly loss. On Thursday, the stock rose 7.6% to ₹365.9 on the state-run company nearly turned profitable in the March quarter, posting a net loss of just ₹4.4 crore compared to ₹238.8 crore in the same period last year. The improvement was supported by an exceptional gain of ₹62.41 is the closest ITI has come to profitability since March 2022, when it reported a net profit of ₹356 rose 74% year-on-year to ₹1,045.7 crore, up from ₹601 crore in the corresponding quarter last year. EBITDA loss also narrowed significantly to ₹28.2 crore, from a loss of ₹173.8 crore in the year-ago period. ITI remains a tightly held PSU stock, with the government owning a 90% stake as of the March quarter. Of the remaining public shareholding, the Special National Investment Fund holds 7.9%, resulting in a limited free float. While ITI shares have gained 46% over the past three months, they are down 6% so far in 2025. The company's market capitalisation currently stands at ₹34,673 crore.
Mint
4 days ago
- Business
- Mint
ITI shares surge 9% as Q4 loss narrows sharply, revenue jumps nearly 74%
Shares of ITI Ltd rallied sharply on Wednesday, May 28, climbing as much as 9 percent in intra-day trade after the company reported a substantial improvement in its March quarter earnings. The stock touched a high of ₹ 336.75, marking its strongest level since January 30, 2025. Investor confidence was bolstered by ITI's March 2025 quarter results, which showed a significant reduction in net losses and a robust improvement in revenue. The company reported a net loss of just ₹ 4.4 crore, compared to a steep ₹ 239 crore loss in the corresponding quarter of the previous year. Revenue for the quarter surged 73.9 percent year-on-year, reaching ₹ 1,046 crore from ₹ 601 crore in Q4FY24. Furthermore, EBITDA loss narrowed to ₹ 28.2 crore from ₹ 174 crore, indicating a meaningful improvement in the company's operational performance. In addition to the strong earnings, ITI announced that its Board of Directors approved the allotment of equity shares on a preferential basis to the President of India, against a CAPEX infusion of ₹ 59 crore in line with a BIFR Order dated January 8, 2013. Founded in 1948, ITI Limited is India's first public sector undertaking (PSU) in the telecommunications space. Over the years, it has built a strong manufacturing footprint with facilities in Bengaluru, Naini, Rae Bareli, Mankapur, and Palakkad, and a dedicated R&D centre in Bengaluru. The company also operates 11 Marketing, Services & Projects (MSP) centres across India in cities such as Mumbai, Chennai, Hyderabad, Kolkata, Delhi, and Chandigarh, among others. ITI's diverse product portfolio includes advanced telecom and defence equipment such as Gigabit Passive Optical Networks (GPON), Managed Leased Line Network (MLLN) products, Wi-Fi access points, encryption units, smart energy meters, smart cards, and mini PCs. It also manufactures passive infrastructure products like optical fibre cables, HDPE ducts, and antennas. Following Wednesday's rally, ITI shares were trading 43 percent below their 52-week high of ₹ 592.85, hit in January 2025. However, the stock has recovered significantly from its 52-week low of ₹ 210.20, touched in October 2024—marking a rebound of over 60 percent. Over the past year, the PSU stock have declined 8.5 percent, but recent months have shown a turnaround. The stock has gained 29.5 percent in May alone, following a 2.5 percent rise in April and a 1.2 percent gain in March. Prior to this recovery, it had shed 16 percent in January and 24 percent in February. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Express Tribune
09-05-2025
- Business
- Express Tribune
SBP reserves strengthen by $118m
Listen to article The State Bank of Pakistan (SBP) reported a week-on-week increase of $118 million in its foreign exchange reserves, taking the total to $10.3 billion as of May 2, 2025. According to the latest data released on Thursday, Pakistan's total liquid foreign reserves stood at $15.5 billion, including $5.2 billion held by commercial banks. The uptick in SBP reserves signals improved external account stability, offering some relief amid ongoing economic challenges. While the central bank did not specify the source of the increase, such gains are typically attributed to inflows from multilateral institutions, exports, or remittances. Gold prices in Pakistan declined on Thursday, mirroring a downward trend in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold fell by Rs4,200 per tola, bringing it down to Rs352,700 in the local market. Similarly, the rate for 10 grams of gold dropped by Rs3,601, settling at Rs302,383. This followed a modest gain on Wednesday, when the price per tola had risen by Rs800, reaching Rs356,900. Internationally, gold prices also slipped on Thursday. The global rate stood at $3,343 per ounce (including a $20 premium), reflecting a $42 decrease for the day, as per APGJSA. Adnan Agar, Director at Interactive Commodities, commented on the recent decline in gold prices, stating, "As news emerges regarding ongoing China-US trade talks, we are seeing downward pressure on gold. Market sentiment is shifting towards risk-on assets, reducing the appeal of safe havens like gold." Gold prices inched lower on Thursday, ahead of US President Donald Trump's likely announcement of a trade deal between the United States and Britain. Spot gold was down 0.1% to $3,362.19 an ounce as of 1318 GMT, after rising 1% earlier in the session. US gold futures slipped 0.7% to $3,368.50. "The gold market has been very volatile. What you're seeing are short-term investors buying and selling based on news headlines," said Jeffrey Christian, managing partner of CPM Group. Meanwhile, the Pakistani rupee recorded a slight depreciation against the US dollar for the fifth day in a row, edging down by 0.02% in the interbank market on Thursday. By the end of the trading day, the rupee settled at 281.52, marking a minor loss of Rs0.05 compared to Wednesday's closing rate of 281.47. On the global front, the US dollar remained firm against the euro on Thursday, maintaining gains from the previous daythe strongest in two weeksafter the Federal Reserve highlighted growing economic risks from elevated inflation and rising unemployment.
Business Recorder
08-05-2025
- Business
- Business Recorder
Gold price per tola falls Rs4,200 in Pakistan
Gold prices in Pakistan fell on Thursday in line with their decline in the international market. In the local market, gold price per tola reached Rs352,700 after it lost Rs4,200. Similarly, 10-gram gold was sold at Rs302,383 after it registered a decline of Rs3,601, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Wednesday, gold price per tola reached Rs356,900 after it gained Rs800. Moreover, the international rate of gold also increased on Thursday. As per APGJSA, the rate was at $3,343 per ounce (with a premium of $20), a decrease of $42 during the day. Likewise, silver price per tola decreased by Rs65 to settle at Rs3,417.
Yahoo
16-04-2025
- Politics
- Yahoo
We're not following the death penalty process we all voted for
We here in the state of Oklahoma have an excellent judicial system, but regrettably, when it comes to the death penalty — the most terminal of all punishments — we don't always get it right. Take the case of Tremane Wood. He will be scheduled for execution sometime this calendar year, but he never murdered anyone. A plea agreement traded Tremane's older brother — the admitted killer who had a skilled defense team — for Tremane, who was only at the crime scene because of his brother's influence and was represented at trial by an overworked attorney with substance abuse problems. It highlights one of the many problems with our system here in Oklahoma. It really doesn't take much to end up on death row. More: Oklahoma has done nothing to reverse course on wrongful criminal convictions | Opinion And that fact collides head-on with the constitutional amendment that I and other Oklahomans voted for in 2016 to formally protect the death penalty in the state Constitution. Like most people, I thought capital punishment would be reserved only for people who are guilty of actually killing someone and that we would be 100% sure that we have the right person. But we keep discovering otherwise. Tremane Wood's case follows that of Richard Glossip for whom the U.S. Supreme Court just ordered a new trial due to allegations the state withheld evidence. How many other cases of wrongfully convicted men and women could there be that we don't know about? This is why I sponsored Senate Bill 601, the Death Penalty Moratorium Act, which will pause the executions of judgments in all death penalty cases for 24 months, as called for in the Oklahoma Death Penalty Review Commission report of 2017. Virtually none of the commission's 45 recommended reforms were implemented, which has helped lead us to where we are today. Everyone involved in the death penalty process — the defendant, the state and the families of the victims — must be sure of the accuracy of the conviction or there is no justice for any of them. This is the most serious punishment we have as a society, and we have to be 100% accurate. I became involved in this issue when I started looking at our overall judicial system. I learned we do not pay our district attorney offices enough, we don't have nearly enough public defenders, we don't have enough troopers, enough county sheriffs and deputies, and then if you come into the judicial system and you don't have the right lawyer, or that lawyer doesn't understand your case, you're behind the eight ball. We also need to remember that juries only weigh the evidence. They don't go out and gather the evidence. They don't know if the evidence has been tampered with, they don't know if it has been made up, if it's accurate. Sadly, my research has found many individuals have been exonerated, and many times because the evidence was not accurate. The cases of Tremane Wood and Richard Glossip show us that a moratorium is necessary, and I think we need to ask ourselves, "If we aren't absolutely sure, is this really what we want to do? Does the victim really have rest in this? Will this console the victim's family?" I don't think so. In the Tremane Woods case, there will be no closure for anyone because everyone knows he didn't do it. And that is just one category of concern we need to check out. Again, virtually none of the significant death penalty reforms called for in the 2017 report were ever implemented, so let's just take a pause. We already know 11 people have been freed from death row and exonerated here in Oklahoma. People like Glynn Simmons, the longest-incarcerated innocent person in American history at 48 years, including two years on death row. The city of Edmond agreed to pay more than $7 million in the case. Can the residents of Oklahoma accept a system that terminates life without being absolutely sure about the accuracy and waste millions of dollars to find out they did it wrong? I believe the residents will say, "No, that's not the system I voted for in 2016." Polling in 2023 showed 77% of Oklahomans support a halt to executions to make sure the process is accurate and fair. Oklahomans want justice; it's why we voted to protect the death penalty in the state Constitution, but we simply can't keep getting it wrong. I want to echo the principle Benjamin Franklin famously articulated for the basis of American jurisprudence. 'That it is better 100 guilty persons should escape, than that one innocent person should suffer." We may have the greatest judicial system ever known, but Oklahoma residents demand that we do it right. There is no room for error when life is on the line. Dave Rader, a state senator from Tulsa, is a lifelong Republican, professional engineer by training, and was the head football coach at the University of Tulsa from 1988 to 1999. He has been a member of the Oklahoma state Senate since 2017. This article originally appeared on Oklahoman: We have put too many wrongfully convicted people on death row | Opinion
