Business

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...

According to a statement issued by the Union Ministry of New and Renewable Energy (MNRE) on Monday, India's total renewable energy installed capacity recorded a robust double-digit growth of 15.84 percent by December 2024, rising from 180.80 GW in December 2023 to 209.44 GW. The total capacity added during 2024 was 28.64 GW, showing a significant year-on-year growth of 119.46 per cent, compared to 13.05 GW added in 2023, the statement said. The solar energy sector led this growth with an addition of 24.54 GW, representing a 33.47 per cent increase in its cumulative installed capacity, from 73.32 GW in 2023 to 97.86 GW in 2024. Wind power also contributed to this expansion, with an additional 3.42 GW installed in 2024 taking the total wind capacity to 48.16 GW, an increase of 7.64...

Tech Mahindra Ltd shares rose 3.51 per cent on January 10, contributing to the positive momentum of the Nifty IT index, which was the only sector to gain in the overall Indian stock market today. It also marks the highest one-day gain for the stocks in a 21-week period. Tech Mahindra Ltd is expected to announce its Q3 FY25 financial results after market close on January 17, 2025. The shares are currently trading at Rs 1,704.45, up 3.75 per cent at 12:11 pm on January 10. In an exchange filing, Tech Mahindra informed that its board of directors will meet on Friday, January 17, 2025. The primary agenda of this meeting is to consider and approve the company's financial results for the quarter ended December 31, 2024. The earnings are expected to be announced after the market closes,...

Driven by Zomato's food delivery business and Blinkit's GMV growth, homegrown brokerage firm Kotak Institutional Equities has retained its 'buy' rating on the stock with a target price of Rs 305, as it expects the company to perform well in the third quarter.This implies an upside potential of 22.3% for the stock from current levels."We expect food delivery to report sequential contribution margin improvement driven by higher platform fees. Rapid store additions at Blinkit (moving towards 1,000-store target) and higher customer acquisition costs (CAC) may weigh on EBITDA margins," Kotak Equities said in its report.The brokerage firm expects 19% YoY growth in food delivery GMV and 114% YoY growth in Blinkit GMV.Additionally, contribution margin is estimated to reach 7.8% of GMV, indicating...