Business

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...

New Delhi, January 17, Gold prices on Thursday rose by Rs 125 to Rs 78,835 per 10 grams in futures trade as speculators created deals on strong spot demand.Gold contracts for February delivery on the Multi Commodity Exchange rose by Rs 125, or 0.16 per cent, to Rs 78,835 per 10 grams in a business turnover of 10,402 lots.Analysts said fresh deals by participants led to the rise in gold prices.Globally, gold futures in New York fell 0.12 per cent to $2,692.96 an ounce.

The metals and mining giant has recently announced amendments to its earlier proposed split plan. It has decided to retain its base metals business within Vedanta.Vedanta Ltd shares gained 2 per cent in Friday's trade after the Anil Aggarwal-led company said in a stock exchange filing that a meeting of shareholders and creditors in relation to the split would be held on Tuesday, February 18.The matter pertains to the merger of Vedanta Limited and Vedanta Aluminium Metal Limited and Talwandi Sabo Power Limited - Resulting Company 2; Malco Energy - Resulting Company 3; and Vedanta Base Metals (VBML) and Vedanta Iron & Steel - (Resulting Company 4; and their respective shareholders and creditors.Vedanta said, "Meetings of equity shareholders, secured creditors and unsecured creditors of ...

HDFC Life shares surged as much as 9% on Thursday, January 16, after the company reported December quarter results that were below expectations.The company's annual premium equivalent (APE) grew 12% to ₹3,488 crore, higher than the CNBC-TV178 poll's estimate of ₹3,051 crore.Retail APE also rose 12% to ₹3,122 crore, higher than the poll's estimate of ₹3,051 crore.Value of new business surpassed expectations of ₹869 crore, rising 9% to ₹930 crore.VNB margin declined 74 basis points to 26.06%, but was above expectations of 24.92%.Brokerage firm HSBC has a "buy" rating on the stock and a price target of ₹750.The brokerage said margins have eased as the incremental mix shift towards lower margin linked products will slow, improving sales of credit security and ahead of a potential rate cut cyc...

Axis Bank shares fell over 3% to a low of 1,014.65 on the NSE on Wednesday. 33.2 lakh shares are reported to have changed hands in this block deal. Now news is coming about the block deal. Information about buyers and sellers could not be immediately obtained. Axis Bank shares saw a strong jump as 92 lakh shares were being traded on NSE around 2 pm. Axis Bank shares are lagging the market and have declined about 8% in the last one year. The decline so far in 2025 is 4.5%. The overall negative sentiment prevailing in the market and the poor performance of the bank itself has further increased the weakness in Axis Bank shares. Nifty's 1-year gain was 5% while banking gauge Nifty Bank recorded a gain of less than 1%. The private lender will announce its Q3FY25 earnings on T...

The Centre's direct tax collections, after refunds, rose 15.9% year-on-year to Rs 16.9 lakh crore in the current fiscal till January 12, according to data released by the Finance Ministry on Monday. The growth in direct tax collections so far has been higher than the 12.8% growth estimated in the Budget, mainly due to a rise in net non-corporate tax (mainly personal income tax) collections. As of January 12, collections from net non-corporate taxes were over Rs 8.74 lakh crore, up 21.6% year-on-year, and net corporate tax collections were around Rs 7.68 lakh crore, up 8.2% year-on-year. The Budget had projected a 14% year-on-year growth in personal income tax collections and 12% growth in corporate tax. Besides, net collections from securities transaction tax (STT) so far this fi...