Posts in category Economic Times
IREDA granted ‘Navratna’ status (27-04-2024)
These companies have the autonomy to invest up to ₹1,000 crore. IREDA is a Non-Banking Financial Institution engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.
Bajaj Finserv Q4 net profit increases 20% to Rs 2,119 crore (27-04-2024)
Bajaj Finance on Thursday reported a 21% increase in net profit for the quarter to ₹3,825 crore. Net total income increased 25% to ₹9,714 crore, up from ₹7,775 crore a year ago. Assets under management expanded to ₹3,30,000 crore from ₹2,47,000 crore during this period.
Bajaj Finance’s margin pressures make brokerages bearish (27-04-2024)
The average analyst price targets on Bajaj Finance after the fourth quarter results stood at ₹8,477 implying an upside of 20.6% over Friday's closing.
Analysts cheer Tech Mahindra roadmap (27-04-2024)
Analysts said that the company's new CEO, Mohit Joshi, unveiled a 3-year turnaround plan to exceed industry-leading revenue growth by FY27. "We believe near-term monitorable for the company's progress towards this goal would be immediate margin improvement in FY25 and steady revenue growth improvement in subsequent years," said Nomura in a note.
ATC Telecom Infra sells 2.8% stake in Voda Idea for Rs 1,840 crore (26-04-2024)
ATC Telecom Infrastructure sold a 2.8% stake to Vodafone Idea, worth ₹1,840 crore, in an open market transaction. Citigroup Global bought shares worth ₹611 crore, with other buyers remaining unknown. Last month, ATC converted debentures allotted by Vodafone Idea into equity, and in January 2024, Canada's Brookfield acquired ATC's India unit in a $2.5 billion deal. Vi recently raised ₹18,000 crore through a follow-on public offer, priced at ₹10-11 per share.
Commercial paper issuances touch a 4-year high of Rs 1.2 lakh crore (26-04-2024)
CP issuances are still not as high as 2018 levels when they touched ₹3.1 lakh crore in July-September, as NBFCs look for other funding avenues like securitisation, where volumes peaked in FY24 at ₹1.9 lakh crore. CPs are short-term, unsecured debt instruments issued by corporates.
Lending service providers may have to provide digital view of all offers: RBI (26-04-2024)
The Reserve Bank of India (RBI) is considering new rules for digital lending, aiming to enhance transparency. The proposed guidelines would require lending service providers (LSPs) to digitally share all available loan offers from willing lenders with borrowers. This move aims to empower borrowers by providing a clear view of their loan options, including details like lender names, loan amounts, interest rates, and key terms. The RBI also emphasizes the need for unbiased content, prohibiting LSPs from favoring any particular lender.
Porsche AG Q1 Results: Operating profit drops 30% to $1.37 billion on ramp-up costs (26-04-2024)
Porsche finance chief Lutz Meschke said that while demand in China remained challenged the company would not compromise on margins by steering clear of a price war that has gripped the local market.
Codelco Q1 Results: World’s largest copper producer’s pre-tax profit sinks 29% (26-04-2024)
Codelco has been battling to boost its production, which has fallen for two straight years to reach a quarter-century low, despite delays, cost overruns and accidents.
Utkarsh SFB Q4 Results:Net profit jumps 19% YoY to Rs 160 crore on higher total income (26-04-2024)
The net profit was Rs 134 crore in the year-ago period. Its operating profit was 35% higher at Rs 282 crore against Rs 208 crore in the year-ago quarter, supported by a 32% rise in net interest income at Rs 540 crore.