Business

02 Nov

Tata Power shares jump 4%, brokerages retain ‘buy’ rating after Q2 results

Priyanka RoyBusiness, latest

Shares of Tata Power surged over 4 percent following the release of its Q2FY25 results, with several brokerages reaffirming their 'buy' ratings.Elara Securities said 'buy' while raising its target price on the stock from Rs 463 to Rs 518 and upgrading its rating from 'accumulate'.Other brokerages including Motilal Oswal Financial Services, JM Financial and Nomura also retained their 'buy' ratings.Morgan Stanley also expressed optimism and maintained an 'overweight' rating on Tata Power and set a higher target price of Rs 577.In contrast, Nuvama expressed a cautious outlook citing high valuations and retained its 'reduce' rating on the stock. Similarly, Jefferies…

30 Oct

Bandhan Bank shares up surge 9% on Q2 earnings; here are new price targets

Priyanka RoyBusiness, latest

The banking stock touched an intraday high of Rs 184.40, up 9.56 per cent on the BSE. A total of 13.65 lakh shares of the firm were traded, generating a turnover of Rs 24.70 crore. Bandhan Bank shares surged over 9 per cent today after the lender reported its Q2 earnings. The banking stock touched an intraday high of Rs 184.40, up 9.56 per cent on the BSE. A total of 13.65 lakh shares of the firm were traded, generating a turnover of Rs 24.70 crore. The market capitalisation of the bank rose to Rs 29,440 crore on the BSE.…

29 Oct

Federal Bank shares rise over 7%, Q2 net profit boost 11% to Rs 1,057 crore

Priyanka RoyBusiness, latest

The private sector bank on Monday reported an 11 percent inflation in its net profit to Rs 1,057 crore in the September quarter as against Rs 954 crore in the same quarter a year ago.The bank's share price jumped sharply due to the huge profits and the stock gained 4.84 per cent in Tuesday's trading session.Later, the stock rose 7.83 per cent to hit its intraday high of Rs 199.49 per share on NSE. The stock gained momentum after two consecutive days of decline on the exchanges.A total of 11.50 lakh shares of Federal Bank were traded today. This bank…

29 Oct

Dolby & BTS’s Jin team up for “I’ll Be There” in Dolby Atmos

Business BureauBusiness

Dolby Laboratories, Inc. (NYSE: DLB), a leader in immersive entertainment experiences, is teaming up with Jin of 21st century pop icons BTS in the latest chapter of the “Love More in Dolby” global brand campaign. Jin stars in the commercial to celebrate his new single “I’ll Be There,” which is now available globally in Dolby Atmos. Following the single “I’ll Be There,” Jin’s highly anticipated first solo album Happy is set to release in Dolby Atmos worldwide on November 15th. "When I first heard my new music in Dolby Atmos, I was truly amazed by the incredibly vivid and immersive…

28 Oct

slice completes its merger with North East Small Finance Bank

Business BureauBusiness

slice, India’s leading consumer payments and lending company has successfully completed its merger with North East Small Finance Bank (NESFB), effective from 27th October 2024, following the receipt of all requisite shareholder and regulatory approvals. This merger unifies the operations, assets, and brand identities of both entities into a single, integrated banking institution. This merger marks a pivotal milestone in India’s financial landscape, combining the innovation of a leading fintech with the trusted foundation of a traditional banking institution. This strategic integration sets the foundation for building India’s foremost tech-driven bank, prioritizing stability, risk management, and a robust governance framework…

28 Oct

Bandhan Bank sees 24% surge in total business, eyes retail expansion

Business BureauBusiness

Bandhan Bank has reported impressive financial results for Q2 FY2024-25, with total business growth reaching 24%, amounting to ₹2.73 lakh crore. The bank's deposits rose by 27% year-on-year to ₹1.43 lakh crore, with retail deposits now accounting for nearly 68% of the total. The current account and savings account (CASA) ratio stands at a solid 33.2%, reflecting robust customer engagement. Ratan Kumar Kesh, Interim MD & CEO of Bandhan Bank, commented, “Our strong performance reflects our focus on effective risk management and compliance. The trust of our customers is our biggest asset.” The bank now serves over 3.5 crore customers…

26 Oct

Indusind Bank Q2 earnings: Net profit lapse 40%, provisions rise

Priyanka RoyBusiness, latest

The earnings were announced after the market opened. The stock closed steady at Rs 1278.90 on BSE. The market capitalisation of the lender stood at Rs 99,625 crore.Private sector lender Indusind Bank on Thursday reported a 40 per cent drop in net profit for the September 2024 quarter. Profit declined to Rs 1,331 crore in the second quarter, lower than Street estimates. Profit was hit by a rise in provisions for bad loans in the previous quarter. In the September 2023 quarter, the lender reported a profit of Rs 2181 crore.Provisions and contingencies rose 87% to Rs 1,820 crore in…

25 Oct

Festival Edition of Toyota Rumion launches by Toyota Kirloskar Motor

Business BureauBusiness

Making this festive season special for car buyers, Toyota Kirloskar Motor (TKM) has introduced the Festive Edition of the Toyota Rumion. This Limited Edition, featuring exclusive Toyota Genuine Accessory (TGA) packages aimed at enhancing the Rumion's aesthetics and comfort, is the perfect mobility choice to celebrate the season in elegance and style. This festive edition of the Rumion, available across all grades, comes with a dealer-fitted TGA package worth ₹20,608, ensuring that customers enjoy a premium experience. Commenting on the introduction of the festive editions, Mr. Sabari Manohar, Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “We are thrilled…

25 Oct

9th Edition of Brahmaputra Valley Film Festival Aims to Catalyze Economic Opportunities

Business BureauBusiness

Brahmaputra Valley Film Festival (BVFF) has announced the highly anticipated 9th edition, which is scheduled to take place from December 5th to December 8th, 2024, at Jyoti Chitraban Film Studio in Kahilipara, Guwahati. This year, the festival is set to captivate audiences with a vibrant selection of films, showcasing powerful stories from the Northeast region and beyond. With more than 220 film entries submitted this year, the festival will present a vibrant selection of films across both competitive and non-competitive sections, featuring categories such as feature films, documentaries, and short films. Over the years, BVFF has screened over 280+ films…

25 Oct

NTPC Q2 results: Profit may inflation 10-15%, sales growth likely to slow

Priyanka RoyBusiness, latest

Sharekhan said NTPC's generation and sales will remain weak, but its net profit will grow 14.9 percent year-on-year with the increase in regulated equity.NTPC is expected to report double-digit growth in net profit on low single-digit growth in sales for the September quarter. Ebitda is seen growing by 13-15 percent, aided by recent capacity additions, higher consultancy and project management fees and plant load factor (PLF).Kotak Institutional Equities witnessed weak output, declining 6 percent YoY due to unfavourable base, but healthy growth in PAT reflecting growth in regulated equities - up 9 percent. Reported PAT in Q2FY24, which would include…