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Tejas Networks welcomes new CFO, while several firms report Q2 profit growth

Tejas Networks welcomes new CFO, while several firms report Q2 profit growth © Reuters.

In the latest corporate developments, Tejas Networks announced the appointment of Sumit Dhingra as Chief Financial Officer. This news comes alongside a series of financial updates from various companies, including ICICI Bank, Kotak Mahindra Bank, YES Bank and IDBI Bank, all of which reported increases in profit for the second quarter of the fiscal year 2024.

Meanwhile, Oil Marketing Companies have started tendering for ethanol supplies. Blue Star has received a demand notice from the Mumbai Stamps (NASDAQ:) Collector, prompting further scrutiny into its operations.

On the investment front, Life Insurance Corporation has increased its stake in Housing & Urban Development Corporation. Aditya Birla Digital Fashion Ventures has taken a step to expand its portfolio by acquiring a stake in Styleverse Lifestyle Private Limited. Samvardhana Motherson made headlines with its recent acquisitions, though specific details remain undisclosed.

In earnings news, JSW Steel reported a net profit for the September quarter. Conversely, Amber Enterprises disclosed that its net loss has widened during the same period.

On Friday, significant losses were experienced by , , and Dow Jones due to rising 10-year Treasury yields. This led to a cautious sentiment among investors as they navigate through these turbulent market conditions.

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