Posts in category Business Standard
Bank credit to industry grows by 8.5% annually in March: RBI (02-05-2024)
Bank credit to industry grew by 8.5 per cent annually in March while there was moderation in the personal loans segment, as per Reserve Bank data released on Tuesday. The growth in credit to industry and personal loans segment in March 2023 was 5.6 per cent and 21 per cent, respectively. "Among major industries, growth in credit (year-on-year) to 'chemicals and chemical products', 'food processing', and 'infrastructure' accelerated in March 2024 as compared with the corresponding month of the previous year, while that to 'basic metal and metal products' moderated," the RBI said. Credit growth to services sector improved to 20.2 per cent annually in March 2024 from 19.6 per cent a year ago.
Kotak Mahindra Bank shares hit 52-week low after Joint MD resigns (02-05-2024)
The drop came after joint managing director (Joint MD) KVS Manian stepped down from his role at the bank and its board after 29 years of service
Hero MotoCorp edges higher after two-wheeler sales rise by 35% YoY in April (02-05-2024)
Hero MotoCorp added 1.60% to Rs 4614.95 after the company said that it had sold 533,585 units of motorcycles and scooters in April 2024, which is higher by 34.7% as compared with sales of 396,107 units recorded in April 2023.
Investment remains an important growth driver in India, Says IMF (02-05-2024)
Indian economy will likely expand 6.8% in the current fiscal as public investment remains the primary growth driver, the International Monetary Fund said Tuesday in its Regional Economic Outlook for Asia and Pacific. Krishna Srinivasan, Director of the Asia and Pacific Department at the IMF, stated, "In China and India, we expect investment to contribute disproportionately to growthmuch of it public, especially in India." Additionally, the IMF has raised its outlook for India's FY24 growth to 7.8%, surpassing the government's estimate of 7.6%. Growth in Asia and the Pacific surprised on the upside in the second half of 2023, reaching 5.0 percent for the year as wholesignificantly stronger than the outcome in 2022 (3.9 percent), and 0.4 percentage point higher than projected in the October 2023 Regional Economic Outlook: Asia and Pacific. Emerging Asia accounted for the bulk of positive growth surprises, including in Malaysia, the Philippines, Vietnam, and,most notably, India, the ...
Biz split impact: Godrej stocks rally up to 9%; Godrej Properties down 4% (02-05-2024)
Shares of Godrej Group companies rallied up to 9 per cent in Thursday's trading session after the Group announced a split in the 127-year old family business.
REC jumps 20% in 2 days post Q4 results announcement; PFC nears record high (02-05-2024)
REC stock price update: REC stock price hit a record high of Rs 555.45 apiece on the BSE, after it soared 9.5 per cent in Thursday's intraday trade
Market trade higher; Auto shares accelerate (02-05-2024)
At 10:25 IST, the barometer index, the S&P BSE Sensex, advanced 199.32 points or 0.27% to 74,683.01. The Nifty 50 index added 58.35 points or 0.26% to 22,663.20.
Escorts Kubota April sales slide to 7,515 units (02-05-2024)
The tractor manufacturer said that its agri machinery business division sales declined marginally to 7,515 units in April 2024 as against 7,565 units sold in April 2023.
BSE up 3% on hiking transaction charges for Sensex, Bankex contract options (02-05-2024)
This comes after India's markets regulator Sebi sought a higher regulatory fee structure for options contracts, which could eat into the exchange's profits
Power stocks edge higher (02-05-2024)
Power stocks were trading in green, with the S&P BSE Power index increasing 62.62 points or 0.87% at 7282.68 at 09:34 IST.