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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…

28 Oct

Gensol Engineering reports 29% profit expansion in Q2

Priyanka RoyEconomy, latest

According to exchange filings, Gensol Engineering reported a 29% rise in net profit after tax to ₹22.93 crore on a consolidated basis for the September 2024 quarter as against ₹17.71 crore in the same period last year.Gensol Engineering shares have declined by 9.52% in the last one year, and by 7.5% since the beginning of the year. Gensol Engineering shares closed at ₹788 on October 25, 2024, down 7.26% from the previous close.The company's total income rose to ₹346.82 crore in the July-September quarter from ₹304.87 crore in the same quarter of the previous fiscal. Operating expenses declined to ₹239.88…

26 Oct

Stovekraft Redefines Kitchen Appliances with the Launch of Pigeon Black Diamond, Atmos, Slender, and Linea

editorlatest, Lifestyle, Technology

Stovekraft, India’s leading kitchen appliances manufacturer, is proud to announce the launch of its new range of cutting-edge kitchen solutions – the Pigeon Black Diamond and Atmos Chimneys and the Slender and Linea Hobs. This latest collection reflects the company’s commitment to innovation, premium style, and functionality, offering unparalleled solutions for modern Indian kitchens.The Pigeon Black Diamond Chimney and Pigeon Atmos Chimney have been carefully crafted with a focus on high efficiency and user convenience. Each model boasts unique features designed to solve common kitchen problems, such as smoke, grease, and noise, creating a more enjoyable cooking environment. The Pigeon…

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

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…

24 Oct

SBI Life Q2 profit gain 39% to Rs 529 crore

Priyanka RoyBusiness, latest

SBI Life Insurance has reported an impressive 39% growth in consolidated net profit in Q2 FY25 to Rs 529 crore from Rs 380 crore in the same quarter last year. This growth reflects the strong financial performance of the company in the competitive insurance market.Despite the rise in profits, net premium income grew a marginal 1%, standing at ₹20,266 crore for the July-September 2024 period.First year premium income witnessed a growth of 6%, rising to Rs 4,915 crore from Rs 4,633 crore in the previous year.These results reflect SBI Life's continued growth in the insurance sector, driven by strategic premium…

23 Oct

PNB shares increase 1.63% as Sensex rises

Priyanka RoyBusiness, latest

Shares of Punjab National Bank traded at Rs 96.5 on BSE at 01:33pm (IST) on Wednesday, up 1.63 per cent from its previous close.The 52-week low price of this stock was Rs 67.34 and the highest price was Rs 142.9.Earlier, the stock witnessed a rise in the morning.A total of 1,881,735 lakh shares were traded on the counter till 01:33 pm (IST).The market value of Punjab National Bank stock is Rs 111021.83 crore.The stock traded at a price-to-earnings (P/E) multiple of 9.43, while the price-to-book value ratio stood at 1.34. The return on equity (ROE) stood at 8.92 per cent,…

22 Oct

India’s growth story continues: RBI bulletin projects GDP expansion at 7.2 percent for FY 2024-25

Priyanka RoyBusiness, latest

Confirming the strength of India's economic growth, the Reserve Bank of India's October bulletin projected real GDP growth at 7.2 percent for FY 2024-25. In the bulletin, the RBI highlighted that consumption and investment demand continue to grow at a rapid pace, with growth estimated at 7 percent in the second quarter and 7.4 percent in the 3rd and 4th quarters.The RBI Bulletin is authored by its Editorial Committee, chaired by Deputy Governor Michael Debabrata Patra. The Central Board of the Bank is not responsible for the interpretation and opinions expressed in the articles, which are the responsibility of the…

21 Oct

Baba Siddique’s shooter’s statement after getting arrested in Mumbai

editorlatest

The Bollywood community is in full shock after Baba Siddique's murder. The shooter has been arrested by the police, identified as Yogesh from the Lawrence Bishnoi-Hashim Baba gang. During interrogation, Yogesh has stated about Baba Siddique that he wasn't good person, "Baba Siddiqui wasn’t a good man; he had an MCOCA case against him. MCOCA isn’t applied to ordinary people. If anyone interferes, something will happen." The shooter boldly stated that, "It's said that Baba Siddiqui had connections with Dawood Ibrahim. If I tell the truth, all the information is available. Phones work, Google is there, and the internet is…

21 Oct

HDFC Bank’s FY26 inflation to be slightly higher than market growth

Priyanka RoyBusiness, latest

HDFC Bank reported a net profit of Rs 17,600 crore, a 17.4 per cent year-on-year growth in advances for the quarter ended September 30, 2024. This came after a seven per cent year-on-year growth in advances, which stood at Rs 24.95 lakh crore. In an interaction with the media, the management, represented by HDFC Bank chief financial officer V Srinivasan, said they would not like to give any forward guidance. However, on the trajectory of loan growth, he indicated that FY25 loan growth for the bank will be lower than market growth and in FY26, the bank should grow slightly…