Sales decline 1.34% to Rs 16.99 crore
Posts in category Business Standard
Aditya Forge reports standalone net profit of Rs 2.38 crore in the March 2024 quarter (17-06-2024)
Sales decline 51.66% to Rs 4.51 crore
IIFL Finance consolidated net profit declines 9.53% in the March 2024 quarter (17-06-2024)
Sales rise 30.46% to Rs 2853.57 crore
Asian shares brace for a slew of Chinese economic news, euro pressure (17-06-2024)
There was also talk the People’s Bank of China (PBOC) could cut a key lending rate by 10 basis points, in part due to surprisingly weak bank lending data released on Friday
Stock market holiday: Are NSE, BSE shut on Eid al-Adha, June 17? Check here (17-06-2024)
Stock market holiday today, June 17, 2024: Both the BSE, and the National Stock Exchange (NSE) will remain shut on account of Bakri Eid, affecting all trading segments, including equity derivatives
Street signs: Nifty hits a speed hump, MF industry on tax tightrope, more (16-06-2024)
The mutual fund (MF) industry is concerned that the upcoming Union Budget may bring another tax blow
IIFL Finance Q4 results: Profit down 6% to Rs 430.6 cr on higher provisions (16-06-2024)
For FY24, its consolidated net profit rose by 23 per cent to Rs 1,974.2 crore from Rs 1,607.5 crore in FY23. Its NII rose by 38 per cent Y-o-Y to Rs 4,153.8 crore in FY24
PwC India expects rise in small, mid-size merger & acquisition transactions (16-06-2024)
PwC India anticipates an upswing in the India markets, especially in small to mid-size M&A (merger and acquisition) transactions and growth fundings driven by increasing investors’ confidence.
The year 2023 witnessed the emergence of a nuanced M&A landscape, with investors showing interests in diverse strategies and larger-scale ventures, even amid an overall decrease in PE investment, said Sanjeev Krishan, Chairperson, PwC in India.
While PE deals were higher in volume, strategic deals dominated the top deals — and domestic deals with group-level consolidations were a prominent theme. The first quarter of 2024 marked a resurgence in deal value and volume.
According to a PwC report, top 10 deals of 2023 included JV buyouts, strategic investments, PE buyouts, and stock mergers, and contributed to 21 per cent of the total deal value. While PE deals were higher in volume overall, strategic deals dominated the top deals with domestic deals and group-level consolidations as a …
Mutual funds industry adds 8.1 mn new investor accounts in Apr-May FY25 (16-06-2024)
The mutual fund industry has added over 81 lakh investors’ accounts in the first two months of the current fiscal (FY25), mainly due to consistent marketing efforts, celebrity endorsements and dedicated work of the distribution network.
Additionally, changing perceptions about fixed deposits, which no longer offer competitive returns compared to mutual funds, and the rise in income levels and accessibility to financial markets have also contributed to the rise in new investors, Trivesh D, COO of stock trading platform Tradejini, told PTI.
Going ahead, the outlook for mutual fund folios remains strong, supported by the ongoing bull run in the stock market, solid risk management practices, continuous investor education, and consistent marketing efforts, he added.
Moreover, the industry will continue to see decent growth as savers increasingly look for alternative avenues to create wealth for their long-term goals, experts said.
“As India’s per capita income grows, investors will look
Mcap of 5 of top-10 valued firms jumps Rs 85,582 cr; LIC biggest gainer (16-06-2024)
Five of the top-10 most valued firms together added Rs 85,582.21 crore in market valuation last week, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer, in-line with positive trend in equities.
Last week, BSE benchmark Sensex climbed 299.41 points or 0.39 per cent. The 30-share barometer hit its all-time high of 77,145.46 on June 13.
While Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India and LIC were the gainers, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Hindustan Unilever and ITC faced erosion from their market valuation. The five firms together lost Rs 84,704.81 crore from market valuation.
The valuation of LIC jumped Rs 46,425.48 crore to Rs 6,74,877.25 crore, the most among the top-10 firms.
The market capitalisation (mcap) of HDFC Bank rallied Rs 18,639.61 crore to Rs 12,14,965.13 crore.
Reliance Industries added Rs 10,216.41 crore, taking its valuation to Rs 19,98,957.88 crore.
The mcap of State Bank of India climbed