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Virus continues to spread at a rapid pace across 8 states as R-value inches up

An R value of more than one denotes a faster pace at which the virus is spreading. According to the health ministry, eight states in the country have reported R value of more than one.

Banking & Finance

Bank of India Q1 net profit falls 15% on lower NII, higher provisions

Deposits increased 6.7% y-o-y to Rs 5.52 lakh crore at the end of June 2020. The current account savings account (CASA) ratio stood at 43.22% at the end of Q1FY22, higher than 40.61% a year ago.

Industry
STL partners Facebook Connectivity to develop 4G, 5G radio products
Banking & Finance
IOB net profit jumps 170% to Rs 327 cr in Q1 on rise in other income, robust recovery

RBI’s current accounts circular faces scrutiny in Kerala HC

Earlier, in interim orders dated July 26 and July 27, the Kerala HC had said status quo must be maintained on the current accounts held by GEO VPL Finance and Muthoot Fincorp, respectively.

Maintain ‘neutral’ on Bandhan Bank with revised TP of ₹330

On the asset quality front, slippage stood elevated at ₹16.8b (annualised slippage ratio of ~9%).

Upgrade Sun Pharma to ‘buy’ with TP of ₹950

We raise FY23E EPS by 27% due to core business improvement, gRevlimid and Winlevi. Raise multiple to 28x on consolidated EPS to account for near-term specialty losses that yields revised SOTP-based TP of ₹950.

Top News

Cotton sowing picks up after July's dry spell

Over 14% of land-owning farmers benefit from MSP purchases: Minister

Indian Immunologicals likely to start Covaxin production in a month

Sugar co-ops meet Shah, seek higher MSP

Over 16,000 students still waiting for CBSE class 10 results

IT deptt extends deadline for various tax compliances

Over 48 crore Covid vaccine doses administered in India so far: Govt

Chhattisgarh govt issues fresh guidelines for air travellers arriving in state

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eBikeGo launches EBG-Matics for advanced fleet management: Key benefits explained

Ather sees record demand in Indiranagar: Rs 10 crore worth electric scooters sold in July 2021

Maharasta EV policy to push for higher levels of electrification

Mahindra Scorpio, Bolero Power Plus warranty increased: Here's what is covered

Omega Seiki to set up new EV plant in UP: To produce customised EVs for rural needs

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