Reliance Industries Ltd (RIL) has reported 5.45 percent decline in net profit at Rs 15,138 crore during the quarter ended June 2024 compared to Rs 16,011 crore during the same period a year ago due to weak O2C business and higher depreciation. Was. On a sequential basis, net profit declined 20.12 percent to Rs 18,951…
Indel Money, a prominent Non-Banking Finance Company (NBFC) specializing in gold loans, has launched its operations in the Andaman Islands with the inauguration of six new branches. These branches, strategically located at Garacharama, Junglighat, Wimberligunj, Haddo, Aberdeen Bazaar, and Protharapur, aim to cater to the growing demand for financial services in the region.Mr. Mohanan Gopalakrishnan,…
The rupee on Thursday weakened by 6 paise to close at 83.64 (provisional) against the US dollar as the strength of the US currency in the overseas market and overnight rise in crude oil prices weighed on investor sentiments.Forex traders expect the rupee to trade with a slight negative bias due to the strong US…
Emkay Global Financial’s research report on Bajaj AutoBJAUT reported stable Q1 (revenue/EBITDA growth of 16%/24% YoY; 20.2% EBITDA margin, aided by 50bps of PLI gain). Domestic 2W prospects are good, although BJAUT’s position has now fallen (even in 125cc motorcycles); The reaction to the newly-launched CNG motorcycle needs to be monitored. MGMT is guided to…
Dealers’ body FADA on Monday said that automobile retail sales grew by 9 percent year-on-year in the June quarter of FY25, with all segments except tractors registering increment. Total retail sales increased to 61,91,225 units in the April-June period from 56,59,060 units in the same quarter of FY24. Passenger vehicle retail sales rose 2.53 percent…
State Bank of India (SBI) has increased its marginal cost of lending rates (MCLR) by 5 to 10 basis points (bps) for most tenures from today, July 15. Shares of State Bank of India, India’s largest public sector bank (PSB), are trading at ₹868.00, up 0.97 percent from its previous close. SBI MCLR increase MCLR…
Personal income tax collections are overtaking corporate tax collections, with cumulative net direct tax collections rising by nearly 20 percent to Rs 5.74 lakh crore during the period April 1 to July 11 of the current financial year (2024-25), Income Tax Department said in a statement late Friday night. Personal income tax collections continue to…
Shipping stocks continued their impressive rally for the second consecutive session on Friday, with Shipping Corporation of India (SCI) rising 16.40% to hit a record high of ₹384.20 per share. In the previous trading day, the stock had touched the upper circuit limit of 20% due to positive developments. This recent rally in the stock…
State Bank of India (SBI) on Wednesday said it has raised Rs 10,000 Crore through its sixth infrastructure bond issue offering a coupon of 7.36 percent. The bank said the issue received bids worth over Rs 18,145 Crore and was oversubscribed by about 3.6 times against the base issue size of Rs 5,000 Crore. The…
According to Reserve Bank of India data, the country’s employment rate grew by 6 percent in the financial year ending March 31, 2024, up from 3.2 percent in 2022-23.Employment in the country improved by 4.67 crore to 64.33 crore (provisional) in the fiscal year 2023-24, from 59.67 crore in 2022-23, the RBI’s Measuring Productivity at…
