Union Bank of India reported a 34% increase in net profit for Q2 2024, reaching Rs 4,720 crore, with total income rising to Rs 32,036 crore. Interest income grew to Rs 26,708 crore, though net interest income fell slightly. The bank improved asset quality, reducing gross NPAs to 4.36%. Total business increased by 9.37%, reaching Rs 21,70,779 crore.
As capex theme slows down, Mirae’s Vrijesh Kasera spots 3 other themes to invest (22-10-2024)
Despite the correction in recent weeks, and expectations of government capex revival in H2FY25 and considering the additional fiscal room we may have at the end of FY25, we could see a strong FY26 in terms of govt capex. The sharp run-up in these stocks and the stretched valuation continue to be a concern.
Ola Electric shares jump 4% after resolving 99.1% of 10,644 complaints from CCPA (22-10-2024)
Shares of Ola Electric Mobility surged 4.45% after it announced the resolution of 99.1% of over 10,000 complaints received from the CCPA. Despite recent declines, the company emphatically addressed criticisms concerning service delays, delivery issues, and misleading advertisements just before the regulatory deadline.
Wipro and Ericsson partner with Odido for delivering billing transformation program (22-10-2024)
Ericsson and Wipro today announced the successful transformation of the billing experience for all Odido brand mobile customers in the Netherlands by migrating to the cloud-native Ericsson Billing platform hosted on Amazon Web Services (AWS). This achievement allows Odido to offer innovative 5G services, including the newly-launched Klik&Klaar fixed-wireless access (FWA) solution, with improved operational efficiency and customer experience.
ETMarkets Smart Talk: Diwali 2024 outlook! Vikas Gupta on why banking and power sectors are poised for growth in Samvat 2081 (22-10-2024)
There could be other reasons due to the middle east war escalation with potential to cause spike in crude oil prices and also potentially creating supply chain bottlenecks in the Asia-Europe corridor.
Nickel prices likely to be under pressure on market surplus (22-10-2024)
Analysts peg its average price for 2024 at around $17,000/tonne
OBSC Perfection IPO opens today: Check issue size, GMP, price band and other details (22-10-2024)
The SME IPO of OBSC Perfection will open for subscription on Tuesday and will close on October 24. The company aims to raise ₹66 crore through this offering and plans to list its shares on the NSE SME platform.
United Heat Transfer IPO opens today: Check issue size, GMP, price band and other details (22-10-2024)
The SME IPO of United Heat Transfer will open for subscription on Tuesday and close on October 24. The company intends to raise Rs 30 crore through this offering and plans to list its shares on the NSE SME platform.
Stocks that will see action today: October 22, 2024 (22-10-2024)
Buzzing stocks: Tata Steel, Varanium Cloud, Sanofi, Ola Electric, Eicher Motors, Epigral, Lemon Tree, Sona BLW, Sterling & Wilson, RVNL, Bajaj Finance, Zomato, Adani Green Energy, Adani Energy Solutions, Paytm