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South Indian Bank shares upsurge 5% after Q2 earnings, check details
16 Oct

South Indian Bank shares upsurge 5% after Q2 earnings, check details

editorBusiness, News
South Indian Bank shares on Wednesday rose 5.42% to Rs 25.25 on BSE as against its last close of Rs 23.95.South Indian Bank shares rallied 5% in the afternoon session today, as the bank announced its second quarter earnings. Net profit rose 18% to Rs 325 crore in the quarter as against Rs 275 crore in the same quarter last fiscal. Total income rose to Rs 2,804 crore in the second quarter as against Rs 2,485 crore in the same period last year. The bank earned interest income of Rs 2,355 crore during the quarter, as against Rs 2,129 crore…
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Bajaj Auto Q2 preview: Strong volumes, rich product mix may drive revenue up 23%
14 Oct

Bajaj Auto Q2 preview: Strong volumes, rich product mix may drive revenue up 23%

editorBusiness, News
Pune-headquartered Bajaj Auto Ltd is set to release its earnings report for the second quarter of FY 2025 on October 16. Increase in volumes and diversified product mix are expected to drive the company's sales to double-digit growth rate on a year-on-year basis.According to a Moneycontrol poll of eight brokerage firms, the Triumph maker is projected to report a 23 per cent year-on-year growth in revenue to reach Rs 13,266 crore. Net profit is estimated to rise 21 per cent to Rs 2,227 crore from Rs 1,836 crore in the same quarter last fiscal.Earnings estimates of analysts surveyed by Moneycontrol…
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RBI projects 7.2% GDP growth for FY25, CPI gain expected to ease to 4.5%
09 Oct

RBI projects 7.2% GDP growth for FY25, CPI gain expected to ease to 4.5%

editorBusiness, News
The Reserve Bank of India (RBI) has projected real GDP growth of 7.2% for FY 2024-25 after the Monetary Policy Committee (MPC) meeting held on Wednesday, along with an expected moderation in Consumer Price Index (CPI) inflation to 4.5%.RBI Governor Shaktikanta Das said that GDP growth is expected to be 7% in the second quarter, which will increase to 7.4% in the third and fourth quarters. Growth is projected to be 7.3% in the first quarter of the next financial year (2025-26), with risks evenly balanced across various economic indicators.Das stressed that this growth momentum is supported by strong quarterly…
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Crude oil futures rise on spot demand
08 Oct

Crude oil futures rise on spot demand

editorBusiness, News
New Delhi, Oct 8 (PTI) Crude oil prices on Monday rose by Rs 67 to Rs 6,406 per barrel in futures trade as traders widened their bets following strong spot demand.On the Multi Commodity Exchange, crude oil for October delivery rose by Rs 67, or 1.06 percent, to Rs 6,406 per barrel in a business turnover of 14,534 lots.Analysts said crude oil prices rose in futures trade as participants increased their deals.Globally, West Texas Intermediate crude prices inflation 2.70 percent to USD 76.39 per barrel in New York, while Brent crude prices expansion 2.40 percent to USD 79.92 per barrel.
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Rama Steel reports 42% YoY grew in steel sales in Q2 
07 Oct

Rama Steel reports 42% YoY grew in steel sales in Q2 

editorBusiness, News
 Rama Steel Tubes said it recorded sales of 50,921.67 tonnes in Q2 FY25, up 42% as compared to sales of 35,780.327 tonnes in Q2 FY24.On a sequential basis, the volume is higher by 36%. Sales volume for Q1 FY25 stood at 37,365.55 tonnes in Q1 FY25.The company has recorded sales of 88,287.22 tonnes in H1 FY25 as against 84,218.01 tonnes in H1 FY24, registering a growth of 5% over the same period last year.Rama Steel Tubes is engaged in the business of manufacturing steel pipes and related products.The company reported a 10% decline in consolidated net profit in Q1 FY25…
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UCO Bank’s total advances grew 18.6% YoY in September quarter
05 Oct

UCO Bank’s total advances grew 18.6% YoY in September quarter

editorBusiness, News
PSU lender UCO Bank on October 4 said its total advances rose 18.56 percent year-on-year to Rs 1.98 lakh crore in the second quarter of the current financial year. Total advances of the bank were Rs 1.93 lakh crore in April-June quarter, and Rs 1.67 lakh crore in the year-ago period. In July-September quarter, domestic advances of the lender rose to Rs 1.74 lakh crore, as compared to Rs 1.67 lakh crore in a quarter ago period and Rs 1.43 lakh crore in the year-ago period. Domestic advances grew 21.68 percent on a yearly basis, and 4.19 percent on a quarterly basis.…
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Indusind Bank Q2 business update: Advances upsurge 13%, deposits grow 15%
04 Oct

Indusind Bank Q2 business update: Advances upsurge 13%, deposits grow 15%

editorBusiness, News
IndusInd Bank on Friday (October 4) released its business update for the quarter ended September 30, 2024. The bank reported a 13% year-on-year (YoY) growth in net advances to ₹3.57 lakh crore from ₹3.15 lakh crore in the corresponding quarter last year.On a quarter-on-quarter (QoQ) basis, net advances grew 3%, standing at ₹3.48 lakh crore in June 2024.Deposits as of September 30, 2024 grew by 15% to Rs 4.13 lakh crore as compared to Rs 3.60 lakh crore in the same period last year.The bank also reported a 4% quarterly growth in deposits, which stood at ₹3.99 lakh crore in…
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IREDA H1 Business Update: Disbursements jump 56%, loan book nears ₹65,000 crore
03 Oct

IREDA H1 Business Update: Disbursements jump 56%, loan book nears ₹65,000 crore

editorBusiness, News
State-run Indian Renewable Energy Development Agency (IREDA) Ltd. reported its business update for the April-September period in an exchange filing on Monday evening.For the first half of the current financial year, which ended on September 30, the loans sanctioned by IREDA increased by 303% from last year to ₹17,860 crore from ₹4,437 crore worth of loans that it sanctioned during the same period last year. In terms of disbursements, IREDA disbursed 56% more loans in the period that ended on September 30, compared to the same half last year. The company disbursed loans worth ₹9,787 crore, compared to ₹6,273 crore…
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Royal Enfield sales growth 11% to 86,978 units in September
02 Oct

Royal Enfield sales growth 11% to 86,978 units in September

editorBusiness, News
New Delhi: Motorcycle maker Royal Enfield on Wednesday said its total wholesales grew 11 per cent year-on-year to 86,978 units in September.The company had dispatched 78,580 units in September 2023.Sales in the domestic market grew 7 per cent to 79,326 units from 74,261 units in the same period last year, Royal Enfield said in a statement.Exports rose from 4,319 units in September last year to 7,652 units last month.B Govindarajan, CEO, Royal Enfield said, “We have registered consistent growth in the month of September owing to our recent launches. The 2024 Classic 350 continues to solidify its iconic status and…
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Adani Airports to inflation Rs 1,950 crore via NCDs
01 Oct

Adani Airports to inflation Rs 1,950 crore via NCDs

editorBusiness, News
Mumbai Adani Airport Holdings is raising Rs 1,950 crore through non-convertible debentures (NCDs) with the primary objective of providing inter-company loans to various airports, including Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati and Thiruvananthapuram.The NCDs with a coupon rate of 9.35% per annum will primarily cover payments made to the Airports Authority of India relating to prior period regulatory assets approved by the Airports Economic Regulatory Authority of India (AERA).The NCDs have received A+/Stable rating from both India Ratings and Crisil Ratings. Axis Bank and Trust Investment Advisors Pvt are the organisers of the issue which will open on September 30, 2024…
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