Patchy rains may hit rural lending, banks stay cautious
Bankers are closely watching monsoon rains and their impact on rural credit. Uneven rainfall poses inflation risks for summer crops and rural incomes. A strong winter harvest offers some financial cushion for lenders. Early stress is visible in personal and micro-enterprise loan segments. Lenders may slow small-ticket loan delivery due to risk aversion.
FCNR(B) deposit drive could pressure banks’ profitability
Banks’ leverage on FCNR(B) deposits could pressure profit margins. Overseas interest rates are lower, and lending spreads remain thin. This impacts banks with lower funding costs, like ICICI Bank and HDFC Bank. The FCNR(B) scheme has mobilized over $32 billion by mid-July. Deployment of these funds profitably is key for banks’ success.
Indian IT stocks buck global tech slump, climb on earnings beat and AI optimism
Indian information technology stocks rallied Tuesday after global AI pressure eased. Coforge reported significant revenue and profit increases, boosting the sector. Other major IT firms also saw substantial gains during the trading session. This positive movement follows a period of underperformance for the IT sector this year. Analysts suggest resilient demand and attractive valuations are […]
Sebi proposes simplified rules, lower investment floor for mutual fund PMS
Sebi has proposed lowering the minimum investment for mutual fund-only portfolio management services. The regulator suggests reducing this threshold from Rs 50 lakh down to Rs 25 lakh. This move aims to make these services more accessible to a wider investor base. Additionally, Sebi is simplifying other requirements for these portfolio managers. These proposed changes […]
ET Exclusive: Adani eyes controlling stake in UK’s Associated British Ports
Adani Ports is weighing a bid for Associated British Ports in the UK. This acquisition would expand Gautam Adani’s port empire significantly. Two Canadian pension funds are selling their controlling stake in Associated British Ports. Associated British Ports owns and operates twenty-one key ports across the United Kingdom. The company is also a partner for […]
HUL upside maybe limited as margins face cost pressure
Hindustan Unilever shares fell sharply, reaching a 52-week low despite strong revenue growth. Input cost pressures caused a contraction in the company’s Ebitda margin. Home care and beauty segments showed robust underlying sales growth during the quarter. Personal care faced challenges from palm oil inflation, while foods division saw steady expansion. Management anticipates improved performance […]
Apple briefly tops $5 trillion in market value, second after Nvidia; unveils iPhone leasing scheme
Apple briefly surpassed $5 trillion in market value, becoming only the second company after Nvidia to reach the historic milestone.
US stocks: S&P 500 ends higher as investors await tech earnings
The S&P 500 index closed higher on Tuesday, boosted by gains in Boeing and Coca-Cola. Chip stocks experienced a significant decline as investors awaited quarterly reports from major tech firms. Microsoft and Amazon saw movement ahead of their upcoming earnings announcements this week. Apple’s stock value surpassed five trillion dollars for the first time as […]
Boeing shares rise 5% despite higher than expected Q2 loss on Air Force One costs
Boeing posted a wider-than-expected Q2 loss after a $280 million Air Force One charge, but shares rose 5% as positive free cash flow and higher aircraft production signaled progress in the planemaker’s turnaround.
Tata Capital Q1 Results: Net profit jumps 56% YoY to Rs 1,547 crore, revenue up 15%
Tata Capital announced a substantial net profit increase of over 56 percent. Revenue from operations also saw a healthy rise of more than 15 percent. Assets under management grew by 22 percent, reaching Rs 2.91 lakh crore. Net interest income and the net loan book experienced strong year-on-year growth. The company’s net worth jumped approximately […]