Corporate & Markets
Shree Cement rating: ‘Buy’; Market share up without margin being hit
FY21-22e EPS up 22-32% due to lower depreciation and higher other income; TP raised to Rs 25,800 from Rs 22,400; ‘Buy’ retained
Hindalco posts highest quarterly loss at Rs 709 crore for June quarter
The revenue from operations declined 15.64% year-on-year to Rs 25,283 crore due to lower India aluminium prices and lower volumes and realisations, both of copper and byproducts.
New India Assurance Q1 net up 3% on better loss ratio, less motor insurance claims
Gross premiums for the country’s largest non-life insurer stood at Rs 8,368 crore during the quarter, a growth of 6.5% compared to the same quarter last year.
Indian Bank’s Q1 net profit rises to Rs 369 crore
Accordingly, the combined financial as on June 30, 2019 has been arrived at by aggregation of audited numbers of combined figures of two banks, Indian Bank said.
Negative global cues: Sensex tumbles 433 points as banks, financials bleed
The losses in the banking index were led by Bank of Baroda, RBL Bank, IDFC First Bank, Punjab National Bank and Axis Bank.
City Union Bank net profit slips 17% in Q1
Total deposits increased 5%, from Rs 39,100 crore to Rs 41,000 crore while advances registered a growth of 7%, from Rs 32,200 crore to Rs 34,500 crore.
Lemon Tree rating: Maintain ‘buy’ with target price of Rs 26
From the liquidity perspective, LT has sufficient cash to meet its total expenses including debt obligations for the next four quarters assuming the worst-case scenario.
DoT proposal on self KYC through end-to-end online process cumbersome: Telcos
“The CAF shall not be modified after fixing of signature of authorised representative of licensee,” said the DoT draft, a copy of which has been seen by FE.
‘Clear dues immediately’: Centre raps UP for ‘discriminatory’ behaviour towards independent power producers
According to reliable sources, Central officials also said that while the Centre’s Atmanirbhar Bharat scheme is all about rebuilding investor sentiment, the state’s move is diametrically opposite
OYO reaches 30% of pre-Covid occupancy on bookings by millennials, SMEs
In October, OYO had announced a fresh $1.5-billion financing round with participation from founder Ritesh Agarwal-led RA Hospitality Holdings and other investors.
Amazon overtakes Flipkart as top online smartphone marketplace: Report
Amazon grew aggressively in the Rs 15,000-20,000 price band, which contributed the most to online sales during the period, the report added.
UP hands over probe into power blackout to STF
The UP power sector is infamous for its AT&C losses. They stand at a whopping 30% in 2019-20. The state government has drawn up a plan bring down the AT&C losses to 15% by March 2024.
Why it’s too early to be enthused about market rally
With respect to the recovery to 90% and the shape of the balance sheet of corporate India and banks, the jury is out on whether these are sustainable numbers.
States’ auto fuel tax receipts seen rising 9% to Rs 1.96 lakh crore in FY21
The states will also gain from the rise in auto fuel taxes through increased excise duties which will raise the taxable value of petrol and diesel for the levy of state sales tax.
After retiring as Thermax MD, Unnikrishnan to play bigger role in start-up ecosystem
The outgoing Thermax MD has already been advising start-ups. Mentees have rated him 5/5 for his mentorship, Thermax chairperson Meher Pudumjee said about Unnikrishnan.
Credit cost to more than double for NBFCs, says Acuite Ratings
Kailash Baheti, group chief financial officer (CFO), Magma Fincorp, said that liquidity flow for NBFCs should be continuous.
RBI tightens corporate governance norms for core investment firms
Among the parameters a CIC will be expected to disclose are details of its investment in other CICs, its off-balance sheet exposures and the maturity pattern of its assets and liabilities.
Equity markets end marginally lower, index heavyweights pull down Nifty and Sensex
The markets started the day strong with a gap-up opening, but witnessed selling throughout the session.
Anti-China wave can be game changer; reforms urgently needed: L&T chairman
Subrahmanyan said that 85%-90% of sites have now mobilised and if there are no major incidents that affect physical progress the company will be able to catch up on what has been lost in terms of sale
US firm Fiserv to support Federal Bank to launch credit card
With a strong retail and remittance business in India, Federal Bank was looking for a flexible and scalable technology and business process outsourcing solution to support the launch and subsequent gr
Under-construction renewable energy projects get five-month extension for meeting deadlines for completion
The government had said in March that delays in construction activities for renewable energy plants on account of disruption of the supply chains due to coronavirus would be seen as a force majeure ev
Amazon gets Indian patent for auto authentication of mobile transactions
Amazon had filed the application for the patent in 2012 at the Delhi patent office which granted it to the e-commerce major by its order of August 11, 2020.
IPCA Lab rating: Retain ‘hold’ with revised target price of Rs 1,950
According to management, raw material cost pressures have waned and some part of cost savings are here to stay, which will drive margin.
One-time loan recast scheme difficult to implement: Srei Infrastructure Finance V-C
The government and the RBI have been trying their best to cushion the impact of Covid-19 on the economy and businesses.
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Budget 2020
- Torrent: Cut to ‘reduce’, revise fair value to Rs 2,350 a share
- Budget 2020 hasn't violated fiscal discipline: FM Sitharaman
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- Budget 2020: FM Sitharaman takes on P Chidambaram over defence budget allocation
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- Budget 2020: Chidambaram slams Modi govt; says economy close to collapse, unemployment making India poorer
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