Nifty fell 2.7% over the week, ending at 24,180.80, amid global and domestic factors. Investors await key Q2 earnings, with companies like Adani Power and Bharti Airtel set to report. Market sentiment remains cautious due to technical trends, FII/DII activity, and fluctuations in crude oil prices.
Posts in category Economic Times
ICICI Bank Q2 net jumps 14.5% (27-10-2024)
The Mumbai-based bank reported a net profit of ₹11,746 crore for the quarter ended September 30, compared with ₹10,261 crore a year earlier and the average estimate of ₹10,952 crore by analysts tracked by Bloomberg.
Public offer likely to value Swiggy at $11.2 billion (27-10-2024)
The ₹11,300 crore IPO, among the largest this year in India, is likely to be launched on November 6, and will see as much as ₹6,800 crore in secondary sale through an offer for sale (OFS) with primary capital of ₹4,500 crore coming into the company.
Yes Bank beats forecast with Rs 553-cr Q2 profit (27-10-2024)
Net interest income – the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors – rose 14.3% to ₹2,200 crore, Yes Bank reported Saturday. The bank expects retail loans to pick up in the coming quarters, which will contribute to the margin.
IDFC First Bank’s Q2 profit plummets 73% (27-10-2024)
Provisions tripled to ₹1,732 crore from ₹528 crore a year ago, primarily as the bank increased its provisioning buffer for its microfinance business by ₹315 crore, covering about 99% of its loans due for more than 30 days but which are still not classified as NPA. This provision along with a ₹253 crore hit the bank took on a legacy toll account led to a spike in provisions, impacting profits.
Titagarh Rail Q2 Results: PAT jumps 14% YoY to Rs 81 crore, revenue up 13% (26-10-2024)
Titagarh Rail Q2 Results: Titagarh Rail Systems posted a 14% increase in consolidated net profit for the September quarter, reaching Rs 81 crore. Revenue from operations rose by 13% to Rs 1,057 crore. While the freight rail systems revenue grew to Rs 1,000 crore, revenue from passenger rail systems dropped to Rs 57 crore. Total expenses were Rs 953 crore.
IDFC First Bank Q2 Results: Standalone net profit falls 73% YoY to Rs 201 crore on provisions, NII jumps 21% (26-10-2024)
IDFC First Bank reported a 73% drop in its September quarter standalone net profit at Rs 201 crore versus Rs 751 crore reported by it in the year ago period. However, the Net Interest Income (NII) grew 21% to Rs 4,788 crore in Q2FY25 versus Rs 3,950 crore in the year ago period.
Crypto’s ‘too big to fail’ token Tether faces new threat from US (26-10-2024)
A potential crackdown on Tether Holdings Ltd., the issuer of USDT, could have a significant impact on the cryptocurrency industry. Tether, the third-largest cryptocurrency, plays a crucial role as a stand-in for the US dollar in crypto markets. If Tether were to fail, it would be disastrous for the crypto economy. Tether CEO Paolo Ardoino denied the allegations, stating that there is no indication that Tether is under investigation.
Markets face challenging setup; focus on resilient stocks for safety (26-10-2024)
The markets have entered a technically challenging environment with a risk-off setup. It’s crucial to stay invested in stocks with strong relative strength against broader markets for greater resilience. A cautious approach is advised for the coming week.
FPIs net sell domestic equities worth Rs 85,790 crore so far in October (26-10-2024)
Foreign Portfolio Investors (FPIs) have been net sellers of Indian equities at Rs 85,790 crore in October so far, wiping out a substantial portion of the overall inflows in 2024. In September, FPIs bought domestic equities worth Rs 57,724 crore. However, they were net sellers in April, May, and January.