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Muthoot Finance reported a 25% year-on-year rise in standalone net profit to Rs 2,550 crore for the June quarter, driven by robust growth in its gold loan business. The company also announced a leadership transition, with Alexander George Muthoot set to take over as managing director from October 1, subject to shareholder approval.
Utkarsh Small Finance Bank reported a net loss of Rs 34 crore for the June quarter, marking its fifth consecutive quarterly loss, as elevated asset quality stress continued to weigh on its performance. While the loss narrowed significantly on lower provisions, the lender’s gross non-performing assets remained high at 6.1%.
Assetz Ltd, a prominent Bengaluru-based real estate developer, has embarked on its journey towards an initial public offering by submitting its preliminary documentation. The firm aims to secure around Rs 1,200 crore as it ventures into public markets. With ambitious plans for land acquisition and a keen interest in expanding to the Mumbai Metropolitan Region,…
Investors are becoming more selective about AI-linked stocks, rewarding companies such as Microsoft and Amazon for showing clear returns from their investments while penalising Meta and Alphabet for rising spending and weaker cash flows. Despite strong earnings growth across the US and Europe, European equities have outperformed as gains broaden beyond technology into financials, energy…
This week, 573 companies will announce their June quarter results, featuring prominent firms. Bharti Airtel and Nykaa are among those reporting earnings on Tuesday. Trent and Hero MotoCorp will release their quarterly figures on Thursday. State Bank of India and Titan Company are scheduled for Friday announcements. The earnings cycle concludes Saturday with Anant Raj’s…
AI may disrupt traditional revenue streams in India’s $280-billion IT services industry, but Rohan Korde of Baroda BNP Paribas Mutual Fund believes it could also drive the sector’s next growth phase. He sees opportunities in enterprise AI deployment, data engineering, cybersecurity, cloud integration and specialised chip infrastructure, while favouring financial services, healthcare and consumer services…
In a surprising turn of events, nine out of the top ten firms reported a significant boost in market valuation. Leading the charge was Bajaj Finance, which added an impressive Rs 80,000 crore to its overall worth. Following closely were Bharti Airtel and TCS, both witnessing notable rises in their market capitalization. Altogether, these companies…
In July, foreign investors reversed their selling trend, becoming net buyers of Indian equities for the first time in four months by investing Rs 20,200 crore. This surge is attributed to appealing valuations and stronger corporate earnings. Additionally, foreign capital flowed into the debt market, signaling a shift in interest. The future of these investments…
Trendlyne’s consensus estimates identify 10 BSE large-cap stocks with potential upside of 25% to 37% over the next 12 months. HDFC Bank and HDFC Life lead the list, followed by ICICI Prudential, Axis Bank, Reliance Industries, Swiggy and other prominent names.
Eleven penny stocks delivered multibagger returns of up to 198% over the past six months. Screened using a market capitalisation below Rs 1,000 crore, a share price under Rs 20, and a minimum latest trading volume of 5 lakh shares, these low-priced stocks stood out for their strong price momentum despite the high risks typically…