InterGlobe Aviation, the operator of India’s leading airline IndiGo, delivered a better than expected performance across most parameters in Q2FY24. The company posted its fourth consecutive quarter of net profit of Rs 188 crore. It had reported a loss of Rs 1,583 crore in the same quarter a year ago.
Posts tagged Rediff
Subrata Roy: ‘Never done one wrong thing in my life’ (15-11-2023)
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
Sebi-Sahara A/Cs have Rs 25K-cr undistributed funds (15-11-2023)
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi’s account have come back into focus after the demise of Sahara Group’s chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
An arduous second half awaits oil marketing firms (15-11-2023)
The medium-term scenario for oil marketing companies (OMCs) is high risk due to the surging crude and gas prices. Apart from OPEC-plus cutting production, the Hamas-Israel conflict has caused fears of supply disruption. The July-September quarter of 2023-24 (Q2FY24) saw positive surprises for OMCs. Strong gross refining margins (GRMs) more than offset weak marketing margins.
Queue for MF licences thins amid quick Sebi approval (15-11-2023)
The queue for mutual fund (MF) licences has thinned down due to quick clearances by the Securities and Exchange Board of India (Sebi) alongside applications being withdrawn amid regulatory changes. There were, at the end of September, only two pending MF applications: By AngelOne and Unifi Capital. By comparison, there were 11 applications lying before the market regulator at the start of calendar year 2023.
How Will Assembly Polls Impact Markets? (15-11-2023)
”The outcome of the state polls may lead to some strategy-related permutations and combinations and the markets may extrapolate it to the likely outcome in the general elections.’
Zomato, Paytm, Nykaa: Analysts bet on new-age stocks (15-11-2023)
Investors are increasingly turning optimistic about shares of new-age companies. From broad-based ‘sell’ calls, analysts are giving thumbs up to Zomato, Paytm, and FSN e-Commerce Ventures-owned Nykaa as these companies have shifted focus to sustainable profits. The shares of Zomato hit a fresh 52-week high of Rs 126 apiece on the BSE on November 7, having rallied 15.4 per cent in one week.
Why Nirmalaji Has A Lot To Smile About (15-11-2023)
Taking both direct and indirect taxes, the gross collection is expected to grow 10.45 per cent to Rs 33.61 trillion in 2023-2024.
Steady NIM, credit costs may drive SBI’s re-rating (15-11-2023)
The stock of State Bank of India (SBI) may re-rate soon, believe analysts, if the lender manages to safeguard its net interest margin (NIM) going ahead. This, along with controlled credit costs, should aid the outlook of the stock which has been underperforming the markets for some time now. “We believe delivery of growth on guided lines, sustenance of NIMs near current levels, and controlled asset quality parameters aiding controlled credit costs should lead to strong profitability and drive re-rating of the stock,” said analysts at JM Financial.
Subrata Roy, 75, dies of cardiorespiratory arrest (14-11-2023)
Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.