Federal Reserve Bank of New York President John Williams said Friday that a better balanced economy has opened the door to cutting rates, with the full course of action to be determined by how the economy performs. “With the economy now in equipoise and inflation on a path to 2 percent, it is now appropriate … Read more
Three Adani Group stocks viz. Adani Green Energy, Adani Energy Solutions and Adani Total Gas are eligible for inclusion in the derivatives segment as per the new criteria for the entry into the futures & options (F&O). Securities and Exchange Board of India (Sebi) on Friday tweaked the entry and exit criteria for stocks via … Read more
The aggregate interest coverage ratio for India Inc hit a nine-quarter high in the recently concluded quarterly results season following a sustained double-digit growth in the operating profit and deceleration in the interest expense. The ratio was 4.9% in the June quarter for a sample of 2,695 companies excluding banks, finance companies, and oil and … Read more
The stock of mid-sized construction company HG Infra Engineering has gained close to 9% since the company announced its June 2024 quarter financial results on August 5 compared with 1.2% gain in the ET Construction Index. The stock’s outperformance can be attributed to the company’s better than expected quarterly show and its plans to diversify … Read more
PVR Inox’s stock has gained 5% in the past three trading sessions following the success of Stree 2 and on account of factors such as strong line-up of films in the coming months and timely expansion of capacity in the southern region. The stock of the country’s largest multiplex company is on a roll after … Read more
Life Insurance Corporation of India (LIC) will be announcing its June quarter earnings today and the country’s largest life insurer is expected to report an year-on-year jump in its annual premium equivalent (APE) by 9-33% according to estimates by a couple of brokerages. Value of its new business (VNB) is expected to go up by … Read more
Bandhan Bank on Friday reported 47% growth in its consolidated net profit at Rs 1,063 crore in the first quarter, compared with Rs 721 crore in the last year period. The lender’s net interest income (NII) for the reporting quarter rose 21% year-on-year to Rs 3,005 crore as against Rs 2,491 crore in the same … Read more
Birla Group Holdings Private Limited (BGHPL), a promoter of Grasim Industries, has raised its stake by 4.09% in the company according to an exchange filing by the company on Tuesday. BGHPL’s holding in the company has gone up to 23.18% now from Rs 19.10% at the end of the March quarter. The additional 4.09% stake … Read more
Mumbai: Life Insurance Corp. of India (LIC), the country’s biggest insurer, reported a 2.5% increase in net profit to ₹13,762 crore for the March quarter, with wage increases accounted for in the period preventing further expansion in the bottom line. The insurer reported profit of ₹13,421 crore in the same period last year. The solvency … Read more
Mumbai: Anchored by a strong performance in its cement and financial services businesses, Grasim Industries clocked in a 13% growth in its consolidated revenue for the March quarter, which took it to an all-time high of ₹37,727 crore. While operating profit of the flagship company of the Aditya Birla Group jumped by a little over … Read more
