FE Bureau

Equitas, Ujjivan slump on bank units listing order

Shares of Equitas Holdings and Ujjivan Financial Services — holding companies of two south-based small finance banks (SFBs) —on Friday slumped to their lifetime lows after the Reserve Bank of India (RBI) directed both fir

Markets News

Non-interest income falls 39%, ICICI standalone net profit dives 56% to Rs 909 crore

ICICI Bank on Friday reported a 56% year-on-year (y-o-y) fall in its standalone net profit to Rs 909 crore for the September quarter owing to a 39% y-o-y decline in non-interest income to Rs 3,156 crore.

ICICI, ICICI net profit, Non interest income,  NII, Reserve Bank of India, Insolvency and Bankruptcy Code News

IOB pares net loss by 60% to Rs 487 crore in Q2

Chennai-headquartered Indian Overseas Bank (IOB) on Friday reported a net loss of Rs 487.26 crore for the July-September quarter, against a net loss of Rs 1,222.50 crore in the same quarter last fiscal, thus paring the loss b

Markets News

Analyst corner: Maintain ‘hold’ on TTK, target price Rs 6,646

Positive consumer sentiment and deeper rural penetration led TTK to report sound figures. Product launches and strong traction from rural markets augur well.

TTK, Positive consumer sentiment, Karnataka, EBITDA margin, TTK product categories, CAGR News

Manappuram Finance to diversify, cut gold loan business to 50% of portfolio

Kerala-based NBFC Manappuram Finance on Friday said it is in the process of diversifying into a slew of verticals like commercial vehicles loan, affordable housing finance and MSME sector lending, beyond its core areas of gol

Manappuram Finance, NBFC Manappuram Finance, MSME sector lending, commercial vehicles loan, affordable housing finance News

Why meeting expectations of younger customers crucial for car dealerships in India

“India’s population is expected to be among the youngest in the world by 2020,” said Kaustav Roy, Regional Director at JD Power.

Industry News

Ruias make last-ditch attempt to keep Essar Steel with Rs 54,389 crore bid

The Ruias on Thursday offered to pay lenders Rs 54,389 crore to retain Essar Steel hours after the committee of creditors (CoC) voted on the bid by Arcelor Mittal.

Industry News

Slow tax growth: Centre’s H1 fiscal deficit at 95.3% of annual target

Slower-than-projected growth in revenue, especially tax and disinvestment receipts, resulted in the Centre’s fiscal deficit in the first six months of this fiscal to be about Rs 5.95 lakh crore, or 95.3% of the full-year ta

Economy News

Slow drive: Maruti net falls 10% in Q2 on commodity costs, weaker Rupee

Maruti Suzuki India (MSIL) on Thursday reported a near 10% year-on-year decline in net profit to Rs 2,240 crore for the quarter ended September, mainly due to a flat top line, higher commodity costs and a weaker rupee.

Industry News

PMO reviews IL&FS debt crisis; board to submit revival plan to NCLT by October 31

The government-appointed board of Infrastructure Leasing & Financial Services (IL&FS) will submit a revival plan with the National Company Law Tribunal (NCLT) on October 31.

Banking & Finance News

Power plants: Supreme Court to hear Gujarat government plea on PPA amendment on October 29

The Gujarat government had approached the SC following a high-powered committee’s recommendations allowing higher tariffs and a 100% pass-through of tariffs to consumers, which would require an amendment to the existing PPA

Economy News

Farm credit flows need better monitoring: Experts

The Reserve Bank of India should release a sector-wise break-up of agricultural credit, experts said on Thursday,  stating that this would help result in a more productive use of the funds for the sector.

Economy News

Airtel beats estimates with Rs 119-crore profit, gain of Rs 1,013 crore helps in 23% rise in net

The competitive pressure on the company since the commercial launch of Reliance Jio which has led to a tariff war continues unabated and was reflected in the earnings of the India business, where it posted a net loss of Rs 1,

Industry News

BHEL shares slump as Q2 net misses estimates

The Bharat Heavy Electrical (BHEL) stock skid 7.4% on Thursday as the company missed street earnings forecasts, even as it reported a 60.5% year-on-year (y-o-y) rise in net profit to Rs 185.2 crore for the three months to Sep

Industry News

JSW Steel posts near-three times jump in Q2 netto Rs 2,087 crore

JSW Steel reported a near-three times jump in its consolidated net profit on a year-on-year basis to `2,087 crore in the three months ended September 2018, beating analyst estimates on all fronts.

Industry News

Indian Mobile Congress: Ambani outlines potential, Birla and Mittal rue financial health of telecom sector

The second edition of the India Mobile Congress, which began on Thursday, saw the heads of the country’s three biggest telecom operators share their vision for the sector which is going through a turmoil financially.

Industry News

Yes Bank Q2 net falls 4%; bank has an exposure of Rs 2,620 crore to some SPVs of IL&FS group

Private-sector lender Yes Bank on Thursday reported a net profit of Rs 964.7 crore for the quarter ended September, down 3.8% from the corresponding figure in the same quarter last year, as provisions shot up 110% year-on-yea

Industry News

Groundnut output may plunge to 37L tonne

The country's groundnut crop is likely to come down to 37.35 lakh tonne for the season 2018-19 from 53.75 lakh tonne the previous season, according to estimates released by the Solvent Extractors Association of India (SEA) on

Commodities News

After Hours: Daniel Mazon, VC and MD Philips India

A peek into the personal life of Daniel Mazon, VC and MD Philips India

Industry News

General insurers’ H1 gross direct premium rises 12.8 per cent

General insurance companies posted a 12.8% year-on-year growth in their gross direct premium underwritten at Rs 81,824.66 crore for the first six months of the current financial year, against Rs 72,546.43 crore in the year-ag

Money News

Airtel Africa to raise $1.25 billion from SoftBank, five others

Bharti Airtel’s UK subsidiary Airtel Africa on Wednesday announced that a group of six global investors led by Warburg Pincus, Temasek, Singtel and SoftBank Group International will invest $1.25 billion (around Rs 9,141 cro

Industry News

Supreme Court’s deadline stays, only BS-VI vehicles can be sold from April 2020

Emphasising on the urgent need to move to a cleaner fuel as early as possible, the Supreme Court on Wednesday directed that only Bharat Stage VI (BS-VI) vehicles shall be sold across the country from April 1, 2020.

Supreme Court, BS-VI vehicles,  BS-IV norms, BS­VI technology, non-BS-VI vehicles News

Policy flexibility to open renewable energy sector to bond market: Experts

In order to address the renewable energy sector’s anxiety stemming from low tariffs discovered in the recent auctions, seen by many as unviable, more flexibility should be introduced in market design, tariff structuring and

Economy News

Kerala floats dividend pension plan for diaspora returnees, person working overseas can deposit a specific amount

The Kerala government has floated a dividend pension scheme for its diaspora returnees, which is also counted to fetch the much-needed resources for the state’s infrastructure development.

Money News

Poor show by Wipro as the tech giant sees 9.9% drop in net profit in September quarter

Software company Wipro on Wednesday posted a 9.9% decline in its audited consolidated net profit (quarter-on-quarter) for the July-September period despite benefits for the rupee depreciation and a major big deal win.

Industry News

Bajaj Auto margins under pressure, net profit grows 3.6%

Bajaj Auto on Wednesday reported a 3.6% year-on-year (y-o-y) increase in standalone net profits at Rs 1,152.5 crore in the July-September quarter on the back of higher revenues and other income.

Industry News

IndiGo’s CEO Rahul Bhatia says open to acquiring airlines

IndiGo co-founder and interim CEO Rahul Bhatia, in an investor call, on Wednesday said that the airline will look at any opportunity that the current aviation market throws up along with its growth strategy of growing organic

IndiGo, IndiGo CE Rahul Bhatia, Jet Airways, Air India acquisition, IndiGo market share  News
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