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The country's leading private sector lender, Kotak Mahindra Bank on Saturday, July 26, reported a net profit of ₹3,282 crore in the first quarter of the current financial year, down 8% from ₹3,552 crore in the previous quarter. On a yearly basis, the profit figures are not comparable as the bank had made an exceptional profit of ₹3,520 crore last year by selling its 70% stake in Kotak Mahindra General Insurance to Zurich Insurance Company Limited. The bank's provision in the first quarter more than doubled to ₹1,208 crore from ₹578 crore in the same quarter last year. The bank's net interest income, i.e. the difference between interest earned on loans and spent on deposits, rose 6% to ₹7,259 crore from ₹6,842 crore in the same period last year. The bank's asset quality saw a m...

NBFC company Bajaj Finserv reported a 30.4% rise in its consolidated net profit for the quarter ended June 30, 2025, at ₹2,789 crore as against ₹2,138 crore in the same quarter of the previous fiscal. The company's operating revenue in Q1 FY26 stood at ₹35,439 crore year-on-year (YoY) as against ₹31,480 crore in the same quarter of the previous fiscal, registering a growth of 12.5%. The NBFC company said it continues to focus on the growth of its emerging businesses, which include Bajaj Finserv Health, Bajaj Finserv Direct, Bajaj Finserv Asset Management and Bajaj Finserv Ventures. Losses from these businesses stood at ₹142 crore in Q1 FY26. Following the earnings data, shares of Bajaj Finserv were seen trading 3.32% lower at ₹1,964.90 per share on the NSE. Finance & Insur...

New Delhi, Crude oil prices rose by Rs 45 to Rs 5,700 per barrel in futures trade on Thursday as traders increased the size of their deals following strong spot demand. At the Multi Commodity Exchange, the price of crude oil contract for August delivery rose by Rs 45 or 0.8 percent to Rs 5,700 per barrel in a business of 11,564 lots. Analysts said crude oil prices rose in futures trade as participants increased their deals. Globally, West Texas Intermediate crude was trading 0.70 percent higher at $65.71 per barrel in New York, while Brent crude rose 0.43 percent to $68.94 per barrel.

New Delhi, Silver prices rose by Rs 465 to Rs 1,16,120 per kg in futures trade on Wednesday as participants increased their deals. At the Multi Commodity Exchange, the price of silver contracts for September delivery rose by Rs 465, or 0.4 percent, to Rs 1,16,120 per kg in a business turnover of 20,631 lots. Analysts said fresh deals by participants led to the rise in silver prices. Globally, silver was trading 0.19 percent higher at $39.36 per ounce in New York.

New Delhi, Aluminium prices rose by 40 paise to Rs 254.90 per kg in futures trade on Tuesday as speculators created new deals amid positive trend in the spot market. At the Multi Commodity Exchange, the price of aluminium contract for August delivery rose by 40 paise or 0.16 percent to Rs 254.90 per kg in a business turnover of 2,504 lots. Analysts said buying of new deals by traders amid demand from consumer industries supported aluminium prices in the futures market.

State Bank of India (SBI) on Monday, July 21, said it has successfully raised ₹25,000 crore through a qualified institutional placement (QIP). The board of directors of the national bank at a meeting approved the allotment of 30.59 crore (or 30,59,97,552) equity shares having a face value of ₹1 per share at an issue price of ₹817 per share, including a premium of ₹816 per share. State Bank of India said in a regulatory filing that after receipt of applications from eligible qualified institutional buyers (QIBs) and funds in the escrow account, as per the terms of the issue, the bank closed the issue on July 21. The panel also finalised the allotment note to be sent to eligible QIBs, informing them of the allotment of equity shares under the issue. Life Insurance Corporation (L...

Kolkata: Tea exports from India in FY 2024-25 rose by 2.85 per cent as compared to the previous fiscal, according to official data. Tea exports from the country rose from 250.73 million kg to 257.88 million kg. According to the latest data from the Tea Board, the export volume from North India reached 161.20 million kg during FY 2024-25, showing a growth of 8.15 per cent from 149.05 million kg in FY 2023-24. Similarly, exports from South India declined by 4.92 per cent to 96.68 million kg in 2024-25 from 101.68 million kg in the previous fiscal, according to the data. The value of tea exports per kg increased to Rs 290.97, showing a growth of 12.65 per cent from Rs 258.30 in FY 2023-24. During the calendar year January to December 2024, the volume of tea exports reached 256...

JSW Steel, the country's second-largest steel producer, on Friday, July 18 reported a consolidated net profit of ₹2,184 crore in the first quarter of the current financial year, up 158% from ₹845 crore in the same period last year. This sharp jump in profits was driven by good capital expenditure by the government in the June quarter and strong domestic steel demand. JSW Steel's operating revenue grew 0.5% to ₹43,147 crore in the June quarter as against ₹42,943 crore in the same period a year ago. The Mumbai-based company reported strong operating performance as its earnings before interest, tax, depreciation and amortization (EBITDA), also known as operating profit, grew 38% to Rs 7,576 crore from Rs 5,510 crore. Its operating profit margin expanded 470 basis points (bps) to 17.56%...