9:10 PM
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India continues implementing economic reforms and liberalization, urging global investors to explore the nation’s demographic dividend and skilled workforce. Finance Minister Nirmala Sitharaman, during the IMF-World Bank meetings, underlines notable FDI inflows and improving infrastructure like water and electricity supply.
7:10 PM
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ICICI Bank reported a 14.5% standalone net profit growth to Rs 11,746 crore for Q2 of the current financial year, compared to Rs 10,261 crore a year ago. Total income rose to Rs 47,714 crore, with interest income at Rs 40,537 crore. Gross NPAs improved to 1.97%, while net NPAs eased to 0.42%.
5:10 AM
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8:10 AM
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Union finance minister Nirmala Sitharaman and World Bank president Ajay Banga discussed private capital in Global Public Goods, energy security, and MDB reforms at the World Bank and IMF Annual Meetings 2024. Sitharaman pushed for implementing and monitoring IEG's recommendations from India's G20 Presidency.
7:10 AM
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6:10 PM
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The Indian equity benchmark indices, BSE Sensex and Nifty50, experienced notable declines on Tuesday, driven largely by major stocks like Reliance Industries and HDFC Bank. The Sensex fell 930.55 points, closing at 80,220.72, while the Nifty50 dropped 309 points to finish at 24,472.10. The rupee also weakened against the US dollar, hitting its lowest-ever closing level.
7:10 AM
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HDFC Bank's board has approved a Rs 12,500 crore IPO for its subsidiary, HDB Financial Services, featuring a mix of fresh issues and offers for sale. The IPO includes Rs 10,000 crore in offer for sale and Rs 2,500 crore in fresh issuance. The move aims to comply with RBI regulations requiring NBFCs to go public by Sept 2025.
4:10 AM
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Kotak Mahindra Bank's net profit increased by 4.8% YoY to Rs 3,344 crore in Q2FY25 but decreased by 5% QoQ due to a one-time gain in the previous quarter. Gross deposits increased by 15.1% YoY, while gross advances grew by 17.4% YoY. Provisions rose to Rs 660 crore from Rs 366 crore YoY.
3:10 AM
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HDFC Bank's standalone net profit for Q2FY25 increased by 5% to Rs 16,821 crore, with total deposits rising by 15.06% YoY to Rs 25,00,100 crore. The bank's total income for the quarter reached Rs 85,500 crore, up from Rs 78,406 crore a year ago. Gross NPAs slightly increased to 1.36%, while net NPAs rose to 0.41%.
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