Business

19 Oct

L&T Finance Q2 net profit inflation 16.8% to Rs 695 crore, total revenue up 25%

Priyanka RoyBusiness, latest

L&T Finance Limited reported its financial results for the quarter ended September 30, 2024, with total revenue from operations growing 25% year-on-year to ₹4,019.34 crore from ₹3,213.84 crore in Q2 FY24. The growth was driven by higher interest income, fee and commission income across its key business segmentsThe company's net profit grew 16.8% to ₹695.58 crore compared to ₹595.11 crore in the same period last year, while its profit before tax stood at ₹939.57 crore, up 17.8% from ₹797.39 crore in Q2 FY24.Total comprehensive income also witnessed a significant growth, rising 19.1% year-on-year to ₹700.79 crore.Earnings per share (EPS) witnessed…

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18 Oct

Hindustan Zinc Q2 results preview: Profit may inflation 30-36%; higher zinc, silver prices to drive sales growth

Priyanka RoyBusiness, latest

Hindustan Zinc Ltd (HZL) is set to announce its results for the September 2024 quarter (Q2FY25) and first half of current fiscal year (H1FY25) on Friday, October 18.Hindustan Zinc Ltd (HZL) is set to announce its results for the September 2024 quarter (Q2FY25) on Friday, October 18 as the analysts tracking the stock believe that the metal player is likely to report a strong set of numbers on a year-on-year (YoY) comparison, while the numbers may remain flattish or muted on quarter-on-quarter (QoQ) basis.Brokerages are expecting net profit, Ebitda and revenue to rise sharply on yearly comparison but mild pressure can…

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18 Oct

Bajaj Allianz Life expands in Northeast with first branch in Arunachal Pradesh

Business BureauBusiness

Bajaj Allianz Life, one of India’s top private life insurers, has launched its first branch in Naharlagun, Arunachal Pradesh, strengthening its presence in the Northeast. This strategic move aims to boost life insurance accessibility and promote financial inclusion in the region. The new branch offers a comprehensive range of life insurance products, including financial planning, policy servicing, and claims support, ensuring tailored solutions for local customers. Rajesh Krishnan, Chief Operations & Customer Experience Officer, emphasized the importance of this expansion, stating, “The Northeast holds immense potential, and this branch marks a significant step toward providing financial security for all. Aligned…

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17 Oct

The Government of Nagaland partners with Tata AIA to provide life insurance to its people

Business BureauBusiness

The ‘Chief Minister's Universal Life Insurance Scheme’will cover residents of Nagaland in the age group of 18 – 60 years. Tata AIA will provide life insurance coverage of INR 2 lakh to the earning residents of Nagaland. The scheme will benefit breadwinners, including those employed in unorganized sectors and/ or part of low-income groups. Tata AIA Life Insurance(Tata AIA), one of India's leading life insurers,has been selected by the Government of Nagaland to implement the Chief Minister's Universal Life Insurance Scheme (CMULIS). Under this scheme, the primary earning member of the family will be provided with alife insurance cover of…

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17 Oct

RIL Q2 net profit recession 5% due to weak performance in O2C business

Priyanka RoyBusiness, latest

Reliance Industries Ltd reported consolidated net profit in the second quarter declined by 4.77% to ₹ 16,563 crore from ₹ 17,394 crore in the same period last year, due to weak contribution from the oil-to-chemicals (O2C) business.Gross revenue for the quarter ended September 30, 2024 grew 0.8% year-on-year (YoY) to ₹258,027 crore.While O2C business revenue grew 5.1% on the back of higher volumes and increased home placement of products, EBITDA declined 23.7% to Rs 12,413 crore due to a sharp drop in product margins. Fuel cracks declined by nearly 50%, the company said in a filing."Downstream chemicals also declined due…

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16 Oct

JENNIE launches “Mantra”: A new anthem for empowerment and self-love

Business BureauBusiness

Global superstar JENNIE has officially released her highly anticipated single and music video, “Mantra,” through Columbia Records/ODDATELIER. The song, which marks the beginning of her new era, promises to resonate with fans worldwide, delivering a powerful message of female empowerment and self-expression. The music video, directed by Tanu Muino—who has worked with renowned artists like Dua Lipa and Harry Styles—features JENNIE confidently proclaiming, “Sometimes girls just gotta have fun.” This energetic anthem is set to inspire listeners, particularly women, to embrace their individuality and love themselves for who they are. The launch of "Mantra" is anticipated to make a significant…

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16 Oct

Toyota Kirloskar Motor celebrates festive spirit with Urban Cruiser Hyryder ‘Festival Limited Edition’

Business BureauBusiness

Reinforcing its legacy of innovation and customer-centric approach, Toyota Kirloskar Motor (TKM) has announced the introduction of the Urban Cruiser Hyryder ‘Festival Limited Edition’, featuring exclusive Toyota Genuine Accessories (TGA) Package. This latest addition to the Urban Cruiser Hyryder line-up comes with 13 specially designed TGA, further enhancing the dynamic and premium driving experience. New Festival Limited Edition of the Urban Cruiser Hyryder comes with Premium Accessories package, adding Style, Smartness and Comfort. Available in both Hybrid and Neo Drive powertrains in top 2 variants G and V, offers, a complimentary package worth ₹50,817 for a limited time across all…

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16 Oct

Hathway Cable shares inflation 3% after Q2 profit, revenue rise

Priyanka RoyBusiness, latest

Shares of Hathway Cable & Datacom rallied over 3 per cent on October 14 after the cable television distribution company reported strong earnings for the quarter ended September 30, 2024 (Q2FY25).Hathway Cable & Datacom is one of the largest multiple-system operator (MSO) and cable broadband service providers in India. It provides cable television services through its wholly-owned subsidiary - Hathway Digital Pvt.Hathway Cable has an all-India ISP license and was the first cable television service provider to offer high-speed cable broadband services.The company said its net profit grew 28.4 per cent to Rs 25.8 crore in the same quarter last…

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15 Oct

Thalassemia, TB, asthma medicines prices likely to upsurge

Priyanka RoyBusiness, latest

New Delhi: Prices of several essential medicines used in the treatment of ailments such as asthma, glaucoma, thalassemia, tuberculosis and mental health disorders are expected to rise with the government approving a 50% increase in their maximum price.About the reason behind this decision, the government said in a statement on Monday, “The National Pharmaceutical Pricing Authority (NPPA) had been receiving applications for price increase from manufacturers citing various reasons such as rising cost of active pharmaceutical ingredients, increase in production cost, change in exchange rates, and more, resulting in the unviability of continued production and marketing of medicines.Companies have also…

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14 Oct

HDFC Bank shares increase 2% ahead of Q2 results. What should investors do?

Priyanka RoyBusiness, latest

Shares of HDFC Bank, the country's largest private lender, jumped over 2% in early trade as it prepares to announce its Q2 results on October 16. The stock was trading 2.11% higher at Rs 1,685 on the Bombay Stock Exchange (BSE), contributing significantly to the early inflation on Dalal Street. Investors are showing more interest in HDFC Bank shares, expecting a positive performance in the upcoming quarterly results.Brokerage firm Arihant Capital, which maintains a buy rating on the stock, said it is trading sideways after six days of decline. The firm predicted a "pullback rally" and highlighted that the momentum…

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