Asian Paints flags weak urban demand as Q3 earnings fade
Raw material costs stood at 57.7% of the consolidated revenues-higher than the year-ago level of 56.5%. Other expenses, too, climbed to make up 16.2% of the revenues-much higher than the y-o-y level of 14.8%. These increased expenses, and a less favourable product mix, dented profitability.
Spandana Sphoorty Financial downgraded by CareEdge, ICRA after Q3 results
CareEgde Ratings: CareEdge and ICRA downgraded Spandana Sphoorty Financial’s debt ratings after weak Q3 results. The microfinance firm faced covenant breaches, early redemptions, and rising NPAs, posting ₹601 crore losses in FY25. Loan write-offs reached ₹971 crore, increasing credit costs.
Arbitrator may take key call on future of Tata’s fortune
Tata stakeholders may seek an arbitrator, likely a retired Supreme Court chief justice, to determine the appointment of trustees for the Ratan Tata Endowment Foundation (RTEF) amidst unclear instructions left by Ratan Tata. The foundation, focused on philanthropy and research, will be independent of Tata Trusts. The arbitration could set a precedent for legacy foundation […]
Rupee recovers from all-time low amid dollar index correction
The dollar index was at 108.52, versus 109.8 on Monday. The appreciation in the local currency comes after the rupee closed a record low of 87.18 per dollar on Monday. The rupee was in a tight range throughout the day on Tuesday. It traded between 87/$1 and 87.13/$1. Most Asian currencies also appreciated in response […]
Algo trades to open for retail investors
Under the framework, the facility of algo trading would be provided by the stockbroker to retail investors only after obtaining permission of the stock exchange for each algo.
D-Street bulls salute tariff truce in West
The advance helped the benchmarks cut all their losses in 2025, though analysts are guarded about concluding that the recovery is here to stay. The outcome of the Reserve Bank of India’s monetary policy meeting on Friday will be the next trigger for the market.
RBI adds 72 tonnes gold in 2024 amid volatility
In 2024, the Reserve Bank of India expanded its gold reserves by 72.6 tonnes, reaching a total of 876.18 tonnes valued at $66.2 billion. This increase is the highest since 2021 and the second highest since 2017. The central bank’s gold purchases help protect against currency volatility and enhance valuation gains on reserves.
Over 50% of Nifty stocks still expensive despite fall in index
According to a Motilal Oswal Financial Services study, 27 out of 47 companies on the Nifty were trading above their 10-year average valuations. The valuations were measured based on the Price to Earnings (PE) Ratio and Price to Book (P/B).
Citibank’s Ashu Khullar to be global co-head of GAM; K Balasubramanian to be India CEO
Ashu Khullar, Citi’s India chief, is appointed as the global co-head of GAM, based in London, and will oversee EMEA and Asia. K Balasubramanian will succeed him as India’s CEO, pending RBI approval. During Khullar’s tenure, Citi’s revenue grew significantly, reflecting his effective leadership.