ICICI Bank Q3 profit rises 15% to Rs 11,792 cr

ICICI Bank reported a 15% rise in standalone net profit to Rs 11,792 crore for Q3 of FY2024, compared to Rs 10,272 crore in the same period last year. Total income rose to Rs 48,368 crore, with improved asset quality as gross NPAs dropped to 1.96%. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WKDsr...

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Budget 2025 expectations: Need to prioritise healthcare and insurance sectors, says SBI

The finance ministry is preparing for Union budget 2025 with potential reforms in healthcare, insurance, and taxation. A State Bank of India report recommends increasing healthcare spending to 5% of GDP, exempting GST and taxes on insurance premiums, and rationalizing GST on medical devices. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TFP57...

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Large Indian NBFIs poised to outperform amid economic and regulatory challenges: Fitch Ratings

While softer economic conditions, tighter bank funding, and asset quality concerns are expected to affect the sector's credit growth and profitability in the near term, larger NBFIs with robust operations and diversified funding channels are expected to maintain steadier performance. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0mTRS...

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Donald Trump forms internal committee in a bid to 'make America the world capital'

US President Donald Trump announced the formation of a committee to develop a regulatory framework for digital assets, led by David Sacks. The executive order aims to advance America's crypto position, remove unnecessary regulations, and prohibit central bank digital currencies. The initiative seeks to foster innovation while ensuring clear regulatory guidelines and protecting economic liberty. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News ...

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Stocks to buy: Top stock recommendations for January 23, 2025

Stock market recommendations: Aakash K Hindocha of Nuvama highlights top stock picks Bajaj Finserv, Muthoot Finance, and ABDL, which show promising trends for investment. Nifty has found support near 23,000 while Bank Nifty indicates a potential upside. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6msCu...

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HDFC Bank’s profit rises 2% to Rs 16, 300 crore

HDFC Bank reports a standalone net profit of Rs 16,735 crore for the quarter ended Dec 2024, up 2.2% from the previous year, despite a slight decline from the preceding quarter. Margins remain stable, and asset quality is robust. The bank accrues significant loan sales and maintains substantial growth capital. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ypwWl...

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Sensex sinks over 1,200 pts as Trump spooks Dalal Street bulls

Sensex closed 1,235 points lower at 75,838 due to market volatility. Investors were concerned about US President Trump's trade policies and a potential Bank of Japan rate hike. Foreign funds sold stocks worth Rs 5,920 crore, and BSE's market capitalization fell by Rs 7.3 lakh crore. Markets are expected to remain under pressure. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KoSdi...

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UCO bank announces 27% increase in net profit for Q3

UCO Bank reported a 27.1% rise in Q3 net profit to Rs 638.83 crore, along with a 15.5% increase in total income at Rs 7,405.89 crore. For the nine months ending December 2024, net profit surged 58.9%, while gross NPA ratio improved to 2.91%. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jg463...

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Shift to equities may raise cost of funds for banks: RBI

RBI deputy governor Rajeshwar Rao highlights the shift in household savings from traditional bank deposits to mutual funds and capital markets, affecting banks' funding costs and margins. Rao warns against over-reliance on wholesale funding and urges banks to develop sophisticated stress-testing methodologies and maintain adequate liquidity buffers. He also emphasizes the need for NBFCs to diversify their funding sources. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business...

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NCLT orders liquidation of Go First

NCLT has ordered the liquidation of GoAir after lenders' request as the airline, grounded since May 2023, failed to revive under insolvency laws. GoAir owes over Rs 6,521 crore to creditors like Central Bank of India and Deutsche Bank. Starting operations in 2005, it joins the list of defunct Indian airlines including Air Deccan and Kingfisher. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/oeKO4...

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IDBI Bank Q3 profit surges 31% to Rs 1,908 crore

IDBI Bank reported a 31% year-on-year increase in net profit to ₹1,908 crore for Q3 FY25 due to reduced provisioning and higher interest income. The gross NPA ratio improved to 3.57%, and net NPA ratio fell to 0.18%. Total income rose to ₹8,565 crore. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/i8LCy...

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Inauguration of Trump, Q3 results to weigh on stock markets

Key drivers for equity markets this week include corporate earnings from blue-chip companies like HDFC Bank, ICICI Bank, and others. Additionally, Donald Trump’s swearing-in for a second term as US President and trading activities of foreign investors will impact the market. Investors' focus will also be on the upcoming Budget. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gtWih...

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RBI sold $20 billion forex in November, ‘room to sell $138 billion more’

In November, the RBI sold $20 billion from its forex reserves to stabilize the rupee. Nomura observes that the central bank has sold $89.4 billion since October 2024, yet India's forex reserves remain adequate with a 236% adequacy ratio as of January 3, 2025. Despite a dip from a peak of 266%, the reserves remain robust. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/f8UYH...

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Mcap of 6 of 10 most valued firms erodes by Rs 1.71 lakh crore; Infosys, TCS major laggards

The market valuation of six of the top 10 valued domestic firms, including Infosys and TCS, decreased by Rs 1.71 lakh crore last week. Meanwhile, Reliance Industries, Bharti Airtel, State Bank of India, and LIC saw gains, with Reliance Industries being the most valued firm. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Fv3Lq...

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Punjab & Sind Bank to raise Rs 2,000 crore via QIP this quarter: MD & CEO Swarup Kumar Saha

Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement this quarter, reducing government holding by 3-4%. The government currently holds a 98.25% stake. This fundraising will boost the capital adequacy ratio by March 2025. The bank's net profit surged to Rs 282 crore in Q3, 2024, as bad loans declined. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ob5EI...

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Kotak, RBL feel pain of microfinance defaults

Private banks like Kotak Bank and RBL Bank are experiencing higher defaults in the microfinance sector. Kotak Bank reported a 10% rise in net profit, but its microfinance arm saw significant losses. Similarly, RBL Bank saw an 86% drop in net profit due to increased provisions for microfinance loans. Industry-wide challenges are anticipated to stabilize in the coming quarters. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Drh4...

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