Vodafone Idea Ltd (VIL) reported a 1% increase in revenue for 1QFY24, reaching `106.6 billion. This growth was achieved despite a 2% decline in subscribers, as it was offset by a 3% increase in average revenue per user (ARPU). The reported revenues exceeded our expectations by 1%, primarily due to higher-than-anticipated ARPU. The end of […]
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AU Small Finance Bank set to maintain its industry-leading loan growthAU Small Finance Bank set to maintain its industry-leading loan growth
AU Small Finance Bank has demonstrated an impressive performance, achieving a remarkable 54% CAGR in deposits and a 34% CAGR in loans from FY18 to FY23. This growth has solidified its position not only within the Small Finance Bank (SFB) sector but also across the broader mid-cap banking landscape. The bank’s success can be attributed […]
Higher US rates may continue to weigh on Indian marketsHigher US rates may continue to weigh on Indian markets
Investments by foreign institutional investors (FIIs) took a dent in September, with a net $2.3 billion being withdrawn during the month. This was the first month of net outflows after February, and the most since the $3.66-billion sell-off in January. Experts, in recent days, have attributed the sell-off to the market being overheated. However, one […]
India’s July Russian oil imports dip; Saudi import down to 2-1/2-yr low: tradeIndia’s July Russian oil imports dip; Saudi import down to 2-1/2-yr low: trade
India’s July crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world’s biggest and third-biggest oil importers, cut imports from Russia and […]
Continuity theme at Kotak BankContinuity theme at Kotak Bank
In its analysis, ICICI Securities says the decision of Uday Kotak to step down from an executive role around 4 months ahead of the scheduled term has come as a somewhat negative surprise. Important to note is that Kotak would still remain associated with the bank as a non-executive director (thereby ensuring continuity). The key […]
HCL Tech’s share surges over 3% following Q2 results; Should you buy, sell or hold the stock?HCL Tech’s share surges over 3% following Q2 results; Should you buy, sell or hold the stock?
HCL Technologies’ share price surged 3.49% to Rs 1,266.50 during the intra-day trade on Friday, a day after the IT firm reported a 9.8% growth in consolidated net profit, amounting to Rs 3,832 crore, in the second quarter of the current fiscal year. The company’s consolidated revenue from operations surged by over 8% to reach […]
Stock market today: Top global cues to watch out forStock market today: Top global cues to watch out for
Mixed global cues are coming in for the Indian markets. Asian markets have been trading broadly negative during the early trade on Monday. The GIFT Nifty indicated that the markets may witness a flat opening. The GIFT Nifty futures stood at 19,222 points. A Reuters report suggests that investors are seeking signals about the Federal […]
Sebi submits report to Supreme Court, says probe doneSebi submits report to Supreme Court, says probe done
The Securities and Exchange Board of India (Sebi) in a fresh affidavit to the Supreme Court (SC) on Friday said that it has completed its investigation into the Adani Group. Sebi “shall take appropriate action based on outcome of the investigations,” it added. The market regulator said that it has investigated 24 transactions involving the […]