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Bajaj Finance reported a 28% year-on-year net profit increase for the June quarter. Assets under management climbed 24% to ₹5.47 lakh crore as of June-end. The company added 5.1 million new customers during the quarter. Net interest income rose 23% and net total income increased 22%. Bajaj Finance expects to disburse 60-62 million new loans…
South Korea and Taiwan market caps declined significantly after initial gains. This fall was driven by concerns over artificial intelligence capital expenditure sustainability. Taiwan slipped to seventh and South Korea to tenth in global stock market rankings. Indian equities showed resilience, with the Sensex posting a modest gain. India now holds the sixth spot with…
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would erase effective returns. Where spreads are thin and final yield is generated through higher leverage, the tax can result in negative return.
“Our Casa was only 10% initially. For the first three or four years of taking over management of this bank, we slowed down the loan book and focused on building the Casa ratio to 50%,” V Vaidyanathan, MD and CEO, IDFC First Bank, told ET in an interview. “If we had kept growing the loan…
Nuclear Power Corp of India (NPCIL) had budgeted Rs 30.13 crore, including taxes, for insuring Tarapur units 3 and 4 under a one-year property damage programme, said sources. The reverse auction for covering the risk, however, saw bids fall dramatically, with Oriental Insurance quoting Rs 10 crore, United India Insurance Rs 10.98 crore, and New…
Indian markets traded in a narrow range, settling marginally higher with mixed cues. Maruti Suzuki, ITC, and Vedanta shares are in focus due to various news developments. Sun Pharma and Bajaj Finserv will announce their first quarter results today. Tata Steel reported a fifteen percent rise in its net profit for the June quarter. Reliance…
Brokerages increased price targets for Asian Paints after strong June quarter earnings. Most analysts maintained their existing recommendations for the paint company. Rich valuations and rising raw material costs limit the stock’s upside potential. Intense competition also continues to affect the company’s performance. Analysts’ consensus price target suggests a ten percent upside from Thursday’s close.
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Microsoft shares experienced a significant surge on Thursday. The company anticipates continued cash generation through its new fiscal year. Cloud growth is projected to exceed Wall Street’s expectations.
Wall Street surged on Thursday, led by chip stocks and Microsoft’s strong forecast. Microsoft’s forecast eased investor concerns about massive artificial intelligence infrastructure spending. Other tech giants like Alphabet and Meta faced pressure from significant AI investment costs. The PHLX chip index saw substantial gains, with several companies reporting increases. Economic data showed slower growth…