Tata Communications stock gains on Q4 earnings report, rises 56% in one year
Tata Communications has re-appointed A.S. Lakshminarayanan as Managing Director and CEO of the company for the second term, subject to approval of the shareholders.
Infosys shares up 1% ahead of Q4 results announcement later today
After falling about 17.5% from the top, the stock is now at an important support level but the underlying trend is bearish. 'The stock has an important support at Rs 1,350 and resistance at Rs 1,500. Heavy short positioning ahead of results, with OI up 16% and stock down 2% this expiry,' Emkay Global said.
Sanjiv Bhasin on 3 bets that’ll make you money in near and medium term
Sanjiv Bhasin says the 'Nifty now looks poised to regain 22,500, 22600. So, largecaps should be the biggest beneficiaries as we plough back and metals and commodities are leading. But Elon Musk's visit is not just symbolic, it is a showcase of the potential of what our economy holds for investing after China plus one will be even bigger icing on the cake.'
GQG bought additional shares worth Rs 8,300 crore in Adani Group companies in March quarter
As of the March 2023 quarter, GQG Partners' stakes in the six Adani Group firms were valued at around Rs 54,300 crore, after surging 33 percent from Rs 40,480 crore in the previous quarter. The companies are Adani Enterprises Ltd, Adani Energy Solutions Ltd, Adani Green Energy Ltd, Adani Ports and SEZ, Adani Power Ltd and Ambuja Cement Ltd.
Angel One net profit rises 30.6% in Q4 to Rs 340 crore
Consolidated revenue from operations jumped 28.15% to 1,357.2 crore from the December quarter. Net profit in January-March was up 27.3% and revenue from operations was up 64.3% from last year
ICICI Lombard Q4 PAT rises 18.9% to Rs 520 crore
During the same period in the previous year, the company had reported a net profit of ₹437 crore. The company declared a final dividend of ₹6 for FY24, taking the total dividend payout to ₹11 a share.
Credit demand, low liquidity boost deposit rates at banks
Despite RBI's unchanged rates, lenders raised deposit rates by 96 bps in FY24 due to rising credit demand. Liquidity tightened with incremental cash reserve ratio, leading to a multi-year high liquidity deficit.
India's power consumption rises nearly 10% to 70.66 billion units in first half of April
The ministry has projected a peak power demand of 260 GW during the summer season (April to June) in view of longer heat wave duration
IIFL Finance To Raise Rs 1,272 Crore Via Rights Issue
IIFL Finance on Wednesday said its board has approved raising up to Rs 1,271.83 crore from a rights issue at a price of Rs 300 per share
Paytm Receives Nod On User Migration to PSP Banks Handles
One 97 Communications has received go ahead from the National Payment Corporation of India (NPCI) to start the user migration to new Payment System Provider (PSP) bank handles immediately.