Business

Finland's Nokia on Thursday reported a stronger-than-expected rise in fourth-quarter adjusted operating profit and sales, helped by higher demand for telecoms gear from mobile operators in North America and India, and was optimistic about 2025 prospects. Shares of the telecoms gear maker were up 3 percent at 0840 GMT, outperforming a 0.4 percent rise in Europe's STOXX 600 index. Nokia's quarterly net sales rose 10 percent to 5.98 billion euros ($6.2 billion), above analysts' estimate of 5.74 billion euros in an LSEG poll. The company said sales at its network infrastructure business rose 17 percent, led by a strong recovery in demand for communications service providers, particularly in North America. "What we have seen before is that when markets change, the North American ma...

Yes Bank shares rose 3.39 percent to hit an all-time high of Rs 18.25 on the BSE. The stock has declined 23 percent in the last one year. Despite Yes Bank Ltd shares surging in Monday's trade after a rise in third quarter earnings, ICICI Securities has retained its 'sell' rating on the stock, and lowered its price target to Rs 15 from Rs 16 earlier. The brokerage said operating income as a percentage of assets improved 10 basis points sequentially in the December quarter, but is still subdued at 1.04 percent. It estimates annual compounded loans to grow by 12 per cent for FY24-26. Yes Bank shares rose 3.39 percent to hit an all-time high of Rs 18.25 on the BSE. The stock has declined 23 percent in the last one year. The brokerage said, "We appreciate YES's improving operating ...

ACC Limited on Monday released its fiscal third quarter earnings report, reporting profit at Rs 1091.79 crore, registering a growth of 103.06 percent compared to Rs 537.67 crore recorded during the same period last fiscal. It recorded revenue from operations at Rs 5207.29 crore, up 7.25 percent from Rs 4855.22 crore recorded during the third quarter of FY24. The revenue growth was helped by an increase in trade sales volume (up 11 percent) and premium product as a percentage of trade sales growing to 32 percent. The company's EBITDA stood at Rs 1115.7 crore, up 23.4 percent compared to the same period last year. ACC recorded highest ever quarterly volume growth of 21 per cent at 10.7 MnT. The company recorded cash and cash equivalents of Rs 2526 crore, up by Rs 1091 crore during ...

Bank of India (BoI) has posted a strong performance in Q3 FY25, with net profit rising 35% year-on-year to ₹2,517 crore as against ₹1,870 crore in Q3 FY24. On a sequential basis, the bank’s net profit saw a 6% increase from ₹2,374 crore in Q2 FY25. Operating profit also saw a robust 23% rise year-on-year, reaching ₹3,703 crore, although it was lower than the ₹4,147 crore recorded in Q2 FY25. BoI Q3 NIM jumps 11% Net interest income (NII) for the quarter grew 11% year-on-year to ₹6,070 crore, as against ₹5,463 crore in Q3 FY24, and was marginally higher than the ₹5,986 crore of the previous quarter. NII grew 46% year-on-year to ₹1,746 crore, although it was lower than ₹2,518 crore in Q2 FY25. Operating expenses for Q3 FY25 stood at ₹4,114 crore, higher than ₹3,653 crore in Q3 FY24...

Kalyan Jewellers shares fell 7.63 per cent in early trade on January 21. This happened amid false speculations on social media that fund managers of Motilal Oswal AMC were involved in alleged malpractices against Kalyan Jewellers shares and were bribed to invest. Notably, the AMC and the jewellery company have issued clarifications and denied the claims. The shares are currently trading at Rs 502.35; down 5.36 per cent. Kalyan Jewellers officially responded to the allegations during the earnings conference call on January 14. It clarified that there has been no income tax raid on its offices, as reported in some viral media posts. It termed the bribery allegations as "absurd". There were also speculations about the alleged sacking of some fund managers at Motilal Oswal AMC over t...

Shares of Indian Hotels Company (IHCL) fell 3 percent to Rs 789 in morning trade on January 20, despite reporting a net profit of Rs 582.32 crore for the October-December quarter of FY25, marking a growth of 29 per cent compared to Rs 451.95 crore recorded in the same period last year. Revenue from operations also grew by nearly 29 per cent, reaching Rs 2,533.05 crore in Q3 of FY25. The results shared in an exchange filing after market close on January 17 highlighted the strong quarterly performance. Earnings per share (EPS) for the period stood at Rs 4.09. Total income grew strongly, rising 29 per cent to Rs 2,591.73 crore from Rs 2,003.64 crore recorded in Q3 FY24. Meanwhile, EBITDA for the quarter grew 27 percent year-on-year to Rs 2,081 crore. Subsequently, Jefferies maintained ...

State-owned Central Bank of India reported a 33% year-on-year rise in net profit, reaching ₹959 crore for the third quarter ended December 2024, from ₹718 crore in the same period last year.The bank's total income rose to ₹9,739 crore during the quarter, as against ₹9,139 crore a year ago. Interest income rose to ₹8,509 crore from ₹7,809 crore, while operating profit rose to ₹1,963 crore from ₹1,931 crore in December 2023.On the asset quality front, the bank's gross non-performing assets (NPAs) came in at 3.86% of total loans, from 4.50% a year ago. Net NPAs also declined significantly to 0.59% from 1.27% in the same period.The bank's capital adequacy ratio improved to 16.43% from 14.74% a year ago and its provision coverage ratio increased to 96.54% from 93.73% in the third quarter of la...