Autos, RIL set-off losses in banks; Sensex dips 20 pts, Nifty holds 15,100

The broader markets, however, bucked the trend and ended higher today. The S&P BSE MidCap and SmallCap indices added 0.7 per cent and 0.4 per cent, respectively at close

3:20 PM

ALERT :: Sensex back in the green

3:14 PM

Profits, credit quality of firms in India recovering 6 months faster: S&P

The report discusses the pace at which corporate sector in these countries is likely to recover from Covid-19 pandemic. It also includes a list of credit trends on the radar of S & P Global Ratings analysts in 2021, including demand recovery, funding conditions and financial discipline. READ MORE

3:04 PM

MARKET UPDATE:: Sensex off day's low

2:58 PM

Page Industries rallies 7%, hits fresh 52-week high on robust Q3 results

The company reported a 77 per cent year-on-year (YoY) growth in profit after tax (PAT) of Rs 153.7 crore on the back of healthy operational performance. The stock has risen 12 per cent in the past two trading days. Jockey is the company’s flagship brand and a market leader in the premium innerwear and leisurewear category. READ MORE

2:56 PM

Eicher Motors Q3 results :: PAT at Rs 533 crore

• PAT at Rs 533 crore against Rs 499 crore YoY
• Revenue up 19% YoY at Rs 2,828 crore vs Rs 2,371 crore in Q3FY20
• EBITDA up 13% YoY at Rs 672 crore vs 592 crore in Q3FY20
• Shares tank post Q3 results, wipe off gains, slip into the red

2:47 PM

Five-fold spike in BoI's Q3 net at Rs 541 cr as NPA provisions dip

Its net interest income (NII) for reporting quarter, fell by 9.19 per cent to Rs 3,740 crore in Q3FY21 from Rs 4,118 crore in Q3FY20. The net interest margin (NIM) for domestic operations also contracted sharply from 3.45 per cent in Q3FY20 to 2.81 per cent in Q3FY21.

 

The non-interest income also declined from Rs 2,068 crores in Q3FY20 from Rs 2,503 crore in Q3FY21, Bank said in a statement. READ MORE
 

2:38 PM

NEWS FLASH :: BEML declares interim dividend of Rs 4.80 per equity share of Rs 10 each

The company has fixed record date on February 19 for payment of said interim dividend 

2:31 PM

Oil price rally falters despite unexpected drop in US inventories

Oil prices slipped on Wednesday, threatening to end the longest rally in two years as investors shrugged off industry data showing a fall in U.S. crude oil stocks that added to optimism about an expected rise in global fuel demand. Brent crude was down by 1 cent at $61.08 by 0752 GMT after rising nearly 1% on Tuesday, when it touched a 13-month high. U.S. crude dropped 8 cents to $58.28.

 

(Soure: Reuters)

2:25 PM

Dec Quarter Result :: Page Industries posts 77% YoY growth in PAT at Rs 153.7 crore

>> Revenue up 16.8% YoY at Rs 927.1 crore

>> Ebitda up 63% YoY at Rs 226.1 crore

>> Ebitda maegin expands 640 bps to 24.4%

2:20 PM

Yes Bank CEO says foreign firms keen to invest in proposed ARC

Yes Bank is seeing interest from foreign firms keen to invest in the asset reconstruction company (ARC) it plans to launch to hive off soured loans worth 500 billion rupees ($6.86 billion), according to the bank's top executive. "There has been lot of interest from foreign investors for our ARC business. We are likely to put in initial capital of 10 billion rupees while the foreign investor will put in nearly 25 billion rupees," Prashant Kumar, CEO of Yes Bank, told Reuters in an interview late on Tuesday.

 

(Source: Reuters)

2:10 PM

Magma Fincorp soars 45% in 3 days on improved collection efficiency in Q3

Shares of Magma Fincorp were locked in the 10 per cent upper circuit band at Rs 84.95, surging 45 per cent in three days, after the company said disbursements in December quarter (Q3FY21) grew by 45 per cent year on year (YoY) driven by pick-up in used assets and affordable housing. The company registered improvement in collections, with collection efficiency of 90 per cent in October and November, and 94 per cent in December 2020. The bounce back in vehicle sales has been stronger than anticipated and demand for mobility and own housing will drive lending in 2021, it said. READ MORE

2:04 PM

European indices tick up in early deals

(Source: Reuters)

1:53 PM

SBI Life, HDFC Life: Insurance cos eyeing reforms, stay invested: Analysts

The insurance sector clocked a muted growth in business premiums in of January with gross premium underwritten by non-life insurers growing 6.7 per cent year on year (YoY) to Rs 18,488 crore and life insurers recording growth of 3.7 per cent YoY in new business premium to Rs 21,389.7 crore. While the life insurance sector reported positive premium growth in January 2021, the year-to-date (YTD) growth in FY21, in first year premium collection, remains negative. "The sector reported a dip of 1.2 per cent in first year premium to Rs 2.12 trillion in YTD from Rs 2.14 trillion in YTD FY20,” noted a report by CARE Ratings dated February 8. READ MORE

1:42 PM

MARKET UPDATE:: Sensex at day's low

1:34 PM

Just profit booking? Why investors are staying away from equity MFs

Mutual funds are steadily falling out of favour among investors if the recent data is anything to go by. Despite a strong rally in the market, investors have pulled out money from mutual funds for the seventh straight month in January. According to the recent data by Association of Mutual Funds in India (Amfi), equity mutual funds have witnessed net outflows of Rs 9,253 crore last month, taking the total outflows to Rs 42,200 crore since July. READ MORE