LIC Housing Finance saw a 9% decline in its stock in August after a weaker-than-expected June quarter. The company’s net interest income dropped by 10% year-on-year, and net profit decreased by 2%. Analysts have downgraded the FY25/26 earnings per share by 2-4%, indicating challenges ahead.
Rupee rises for a 3rd day as crude falls
The Indian rupee strengthened for the third consecutive day, closing at 94.56 against the dollar. This rise was driven by retreating oil prices following a