Finance Archives - Meghalaya Today

From HDFC Bank To ICICI Bank: These Banking, Financial Stocks Likely To Be In Focus Today

18Aug

By Purbalee DuttaNo Comments

Finance

From HDFC Bank To ICICI Bank: These Banking, Financial Stocks Likely To Be In Focus Today

Following credit rating upgrades by S&P Global Ratings, several banking and financial stocks, including HDFC Bank, SBI, and ICICI Bank, are expected to be in focus on Monday, August 18. On Friday, August 15, S&P upgraded the long-term issuer credit ratings of seven Indian banks—SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank—just a day after raising India’s sovereign rating. Bajaj Finance, Tata Capital, and L&T Finance were also among the three financial institutions that received rating upgrades. A day earlier, S&P had upgraded ONGC, Power Grid, NTPC, and Tata Power to ‘BBB’ from ‘BBB–’ with a stable outlook. This marked India’s first sovereign upgrade from S&P since 2007, citing resilient growth and fiscal consolidatio...

Delhivery reports 113% upsurge in profit, but falls short of estimates

8Feb

By editorNo Comments

Finance, News

Delhivery reports 113% upsurge in profit, but falls short of estimates

Delhivery on Friday reported that its net profit rose 113% to Rs 24.9 crore in the December quarter from Rs 11.7 crore in the same quarter a year ago. However, it fell short of market estimates of Rs 66 crore. The company's operating revenue grew 8.4% year-on-year to Rs 2,378.2 crore from Rs 2,194.4 crore earlier. This was marginally below Bloomberg's consensus of Rs 2,422 crore. Ebitda stood at Rs 102 crore, up from Rs 109 crore earlier but well below estimates of Rs 143 crore. Ebitda margin fell to 4.3% in Q3FY25 from 5% in Q3FY24. The company's total expenses grew 7% to Rs 2,450.9 crore from Rs 2,289 crore last year. Net profit margin during the quarter was 1%. Delhivery's revenue was driven primarily by a surge in its partial truckload freight business, which grew 22% year-on...

SBI’s net profit upsurge 84 percent to Rs 16,891 crore in the third quarter

6Feb

By editorNo Comments

Finance, News

SBI’s net profit upsurge 84 percent to Rs 16,891 crore in the third quarter

India's largest public sector lender, State Bank of India (SBI) on Thursday reported an impressive 84.32 percent rise in net profit (year-on-year) for the October-December quarter (Q3 FY25) to Rs 16,891 crore from Rs 9,164 crore in the same period a year ago.The profit surge was driven by higher core income during the quarter. According to the bank's stock exchange filing, net interest income (NII), or core income, rose 4.09 percent to Rs 41,445.5 crore compared to a year ago.Gross NPA ratio improved to 2.07 percent as of December 31, 2024, against 2.13 percent in the September quarter. On a sequential basis, the net NPA ratio remained unchanged at 0.53 percent as of December 31, 2024.The bank's ROA and ROE for the nine months of this fiscal (FY25) stood at 1.09 percent and 21.46 percent,...

How is the American economy in 2025, what do the experts say?

15Jul

By Banasree SarkarNo Comments

Finance

How is the American economy in 2025, what do the experts say?

America has the largest economy in the world. Their currency is the driving force of the world economy. When any country in various parts of the world is in danger, America helps financially. But this "banyan tree" of the world economy is also endangered. A dark cloud of recession has appeared in the American sky. Several internal problems in the country have worried economic experts. Experts believe that a recession may soon engulf the US market, although not on such a large scale. According to the report of the media outlet "Fox Business," Peter Berezin, the head of "BCA Research," warned that a recession may occur in the United States at the end of this year or at the beginning of 2025. Peter also expressed concern about rising unemployment, stock market slumps, massive ...

Shooting in London, Yo Yo Honey Singh Promises to Fly down for ‘Best Friend’ Sonakshi Sinha’s Wedding with Zaheer Iqbal

15Jun

By news editorNo Comments

Finance

Shooting in London, Yo Yo Honey Singh Promises to Fly down for ‘Best Friend’ Sonakshi Sinha’s Wedding with Zaheer Iqbal

Actor Sonakshi Sinha and her beau Zaheer Iqbal are creating buzz in the Bollywood industry with news of their wedding ceremony. As per the reports, the couple will tie the knot on June 23, 2024. However, the couple has'nt made any official confirmation regarding this. On Saturday(15 June 2024), singer and rapper Honey Singh took to his Instagram story to post about Sonakshi and Zaheer, effectively confirming their wedding. Sharing an Instagram story, Honey extended his best wishes to the couple and wrote, "Tho I gonna b in London shooting Glory's first song. But I will make sure I will attend my best friend @aslisona SONAKSHI's wedding. She has been a big support in my career and helped me so many times in life. Best wishes to the power couple Sona and Zaheer!! Bholenath bless them....

Abans Holdings FY24 net profit araise 27% to Rs 89 crore

15May

By editorNo Comments

Business, Finance

Abans Holdings FY24 net profit araise 27% to Rs 89 crore

Mumbai: Abans Holdings, a diversified financial services company, on Tuesday said it booked a consolidated net profit of Rs 89.2 crore during the financial year 2024 (FY24), compared to Rs 70 crore during the previous financial year, an increase of 27.4%. The company reported 18.6% growth in consolidated total income during FY2024 to Rs 1,380 crore from Rs 1,164 crore a year ago.Abans Holdings also said it has received approval from markets regulator SEBI to act as investment manager for Alternative Investment Funds (AIFs) in India. "This achievement elevates the company from a holding entity to an operating entity," it said in a release.Regarding financial performance during FY24, the company said its agency business, asset management operations and loan business have all demonstrated st...

Tata Power Q4 results: Net profit gain 11% to Rs 1,046 Crore due to higher profits

9May

By editorNo Comments

Business, Finance

Tata Power Q4 results: Net profit gain 11% to Rs 1,046 Crore due to higher profits

New Delhi: Tata Power on Wednesday reported 11% rise in its consolidated net profit in the March quarter to Rs 1,046 Crore compared to last year mainly due to higher profits. BSE filings showed consolidated profit stood at Rs 939 Crore for the quarter ending March 31, 2023. The company's total income in the quarter increased to Rs 16.464 Crore from Rs 13,325 Crore in the year-ago period. Consolidated net profit in fiscal 2023-24 rose to record Rs 4,280 Crore from Rs 3,810 Crore in the year-ago period, the company said in a statement. Total income will increase from Rs 56,547 Crore in FY 2024 to Rs 63,272 Crore in 2022-23.According to the statement, the market cap of the company has exceeded Rs 1.4 lakh Crore. The company achieved its highest ever revenue and EBITDA of Rs 61,542 Cror...

Share of Russian crude in India’s imports progress to nearly 40% in April

3May

By editorNo Comments

Business, Finance

Share of Russian crude in India’s imports progress to nearly 40% in April

Russia increased its share of Indian crude imports from 30% in March to nearly 40% in April, closing at its all-time peak of 42% last July, as higher global oil prices forced Indian refiners to seek concessional Russian oil, inspired to increase barrel intake to reduce their average crude oil purchasing cost. Indian refiners imported 1.78 million barrels per day (mb/d) of crude oil from Russia in April, up 19% from March, according to energy cargo tracker Vortexa.

IMF: India ‘one of the strongest performers’

17Apr

By editorNo Comments

Finance, Latest

IMF: India ‘one of the strongest performers’

With this, India remains the world's fastest growing economy, ahead of China's growth evaluate of 4.6 percent during the same period. The International Monetary Fund on Tuesday raised India's growth forecast to 6.8 percent from January's evaluate of 6.5%, citing increase in domestic demand and a growing working-age population. Growth in India is projected to reach 6.8 percent in 2024 and 6.5 percent in 2025, reflecting uninterrupted strength in domestic demand and a growing working-age population," the rearmost edition of the World Economic Outlook said. By the IMF before the periodic spring meetings of the IMF and the World Bank. At the same time, growth in arising and developing Asia is anticipated to decline from an evaluate 5.6 percent in 2023 to 5.2 percent in 2024 and...

Touching the sky of gold price, hands on everyone’s head

2Apr

By Banasree SarkarNo Comments

Business, Finance

Touching the sky of gold price, hands on everyone’s head

The price of gold is increasing tirelessly. On the first day of the new financial year (2024–25), it again set a precedent and reached the threshold of Rs 70,000. However, the yellow metal has already crossed that milestone by adding taxes. On Monday, 10 grams of retail gold (24 carats) rose to Rs 69,750 for the first time in Kolkata. 71,842.50 with GST. As a result, jwellery gold also rose. Hallmark gold jwellery touched an unprecedented high of Rs 66,350 per 10 grams. 68,340.50 with tax. Gold industry circles claim that, as a result, buyers and traders are facing problems. They need solutions. National Gem and jwellery Domestic Council Director Samar Dey said this is why a bunch of demands are being made to the Center. He said, "There are demands to buy jwellery with bank loans, redu...