IDFC First Bank Q3 Results: PAT falls 53% YoY on account of higher provisions
Provisions for the quarter stood at Rs 1,338 crore as compared with Rs 655 crore in the year-ago quarter, driven by the higher slippages in the microfinance book. The bank said provisions were stable for the non-microfinance portfolio.
Macrotech Developers Q3 profit rises 88% to Rs 944 cr on higher income
Macrotech Developers, operating under the Lodha brand, posted an 88% rise in net profit for Q3 FY25, hitting Rs 944.4 crore due to a surge in housing demand. Their total income increased to Rs 4,146.6 crore. The firm achieved its highest pre-sales of Rs 4,510 crore and recorded robust collections of Rs 4,290 crore.
FIIs maintain aggressive selling spree in Indian market, sell equities worth Rs 66,600 cr in Jan so far
Foreign Institutional Investors (FIIs) have been consistently selling in the Indian equity markets in January, with sales in the cash market reaching Rs 66,602 crore. The primary reasons behind this trend are the strengthening of the dollar and rising US bond yields. The financial sector has been significantly impacted, while the IT sector shows signs […]
Strong fee income, reducing PSL gap helps Yes Bank post growth in profit
Yes Bank’s net profit surged to Rs 612 crore in the December 2024 quarter, driven by a robust growth in fee income, reduced RIDF deposits, and lower provisions due to improved asset quality. The bank’s non-interest income grew by 27%, and its gross NPA ratio dropped to 1.6%. Additionally, SME and mid-large corporate advances increased […]
IPO funds would be used for payment of debts, towards corporate purposes: Dr Agarwals
Dr Agarwals Eye Hospital aims to utilize its IPO proceeds of Rs 3,027.26 crore for debt repayment and general corporate purposes. The company plans a fresh issue worth Rs 300 crore and an Offer for Sale amounting to Rs 2,727.26 crore, targeting to reduce its current debt of Rs 373 crore.
IDFC First Bank Q3 results: PAT declines 53% YoY; NII grows 14%
IDFC First Bank reported a 15% decline in net profit for Q3FY25, while its net interest income rose by 14%. The bank’s gross NPA ratio improved to 1.94%, and customer deposits increased by 28.8% YoY. CASA deposits surged by 32.3%, and the CASA ratio stood at 47.7%.
Dalal Street Week Ahead: Technical indicators signal caution as Nifty faces resistance at 23,700
The markets remained in a very defined trading range and stayed decisively below key levels. The trading range widened a bit; the Nifty oscillated in 449.45 points before closing towards its lower end of the range. The volatility increased; the India VIX inched higher by 6.33% to 16.75 and stayed at elevated levels.
F&O Talk| Nifty on 3-week losing streak, bearish momentum intensifies ahead of Budget: Sudeep Shah of SBI Securities
The market experienced a downturn driven by a sell-on-rally trend, with realty stocks significantly impacted. Analyst Sudeep Shah from SBI Securities shared insights, highlighting concerns due to sustained bearish pressure on the Nifty index and significant FII selling. Despite this, the IT sector shows promise, and large-caps offer some stability amidst market volatility.
ICICI Bank Q3 Results: PAT up 15% YoY to Rs 11,792 crore; NII grows 9%
ICICI Bank on Saturday reported that its standalone Q3 profit after tax grew by 14.8% year-on-year (YoY) to Rs 11,792 crore while net interest income (NII) increased 9.1% YoY to Rs 20,371 crore during the December quarter.
Nifty may break 23-year record with 4 straight months of decline: Rupak De
Rupak De, Senior Technical Analyst at LKP Securities, anticipates Nifty may end January with a loss, marking a fourth consecutive month of correction, a rare event in 23 years. With major events like the budget ahead, non-directional strategies are recommended. He suggests buying Britannia, Macrotech, and InfoEdge in the budget week.