Business

IndusInd Bank Q1 Net Up 26% But Higher Bad Loans Weigh On Shares

The bank’s net NPAs as a percentage of total advances ticked up sequentially to 0.38% in Q1. Private sector lender IndusInd Bank kicked off the first quarter earnings season on a strong note by reporting a 26 per cent jump in its quarterly net profit. IndusInd Bank reported a net profit of Rs 661 crore in the quarter ended June ... Read More »

Bajaj Finance To Consider Stock Split

New Delhi: Bajaj Finance will consider stock split at a board of directors’ meeting later this month. The meeting, to be held on July 26, will also consider issue of bonus shares. “At the said meeting, the board may consider sub-division of equity shares of the company of face value of Rs 10 each, and issue of fully-paid bonus equity shares ... Read More »

Sensex Ends 181 Points Higher On Buying In Banking Shares

3:432 p.m.: Sensex rose over 150 points while broader Nifty closed above its crucial psychological level of 8,500 for first time in 11 months as encouraging U.S. data and expectations of further monetary stimulus from global policymakers held out hopes for a strong global economic outlook. The Sensex ended 181 points or 0.66 per cent higher at 27,808 and Nifty ... Read More »

Gold Steady After Falling In The Previous Session

Bengaluru: Gold was steady early Tuesday after falling in the previous session, with markets assessing whether the latest U.S. jobs data boosted the prospects of an early interest rate hike by the Federal Reserve. FUNDAMENTALS Spot gold was little changed at $1,354.60 per ounce by 0039 GMT. It fell 0.8 percent on Monday, its biggest decline in nearly two weeks, ... Read More »

Oil Prices Remain Near Two-Month Lows As Investors Bet On Weaker Prices

Singapore: Oil prices remained near two-month lows from the previous trading session on Tuesday as financial traders lost confidence in a recent price rally, switching positions in anticipation of lower prices. International Brent crude oil futures were trading at $46.13 per barrel at 0027 GMT, down 12 cents from their last close and near to the $45.90 two-month lows reached ... Read More »

Hindalco Shares Hit 52-Week High On Alcoa’s Q2 Earnings

Analysts expect Hindalco to report strong numbers after Alcoa beat Q2 estimates Hindalco shares jumped over 5.5 per cent to their 52-week high of Rs. 136.20 on Tuesday, tracking strong numbers of Alcoa, which is the world’s third largest producer of aluminum. Hindalco was the top gainer in the Nifty50 index. Alcoa on Monday posted better than expected second quarter ... Read More »

Quess Corp, India’s Most Successful IPO In 9 Years, Soars 60% In Debut

Quess Corp’s IPO was oversubscribed 145 times, making it the most successful issue in 9 years Quess Corp made a stellar debut in stock markets, with shares in the staffing firm rising over 60 per cent on Tuesday. Quess Corp’s initial public offer (IPO) was oversubscribed 145 times, making it the most successful issue in the past nine years. With ... Read More »

Tata Power To Raise Rs. 3,500 Crore Via Debentures

Tata Power board approved raising up to Rs. 3,500 crore through issuance of non-convertible debentures. New Delhi: Tata Power on Monday said that its board has approved raising up to Rs. 3,500 crore through issuance of non-convertible debentures in one or more tranches on a private placement basis. “The Board of Directors of the Company at its meeting held on July ... Read More »

Shriram EPC Surges 16% On Plan to Convert Debt Into Equity

Shriram EPC approved plan to convert working capital loan into equity shares (Representational image) Shares of Shriram EPC surged as much as 16 per cent to Rs 29.60 today after the company’s board approved the conversion of Rs 1,280 crore working capital loan into equity shares as part of corporate debt restructuring package. The board of the Chennai-based firm, which ... Read More »

Coal India Slips As Buyback Offer Disappoints Market

Shares of Coal India fell as much as 2.36 per cent to hit intraday low of Rs. 313.30 after the state-run miner’s buyback offer disappointed the Street. Coal India aftermarket hours yesterday had announced that its board has approved share buyback of 1.72 per cent of shares at a price of Rs. 335 per share. The proposed buyback will cost ... Read More »