Kotak Mahindra Bank’s standalone profit rose 5% to Rs 3,344 crore in the second quarter of current fiscal from Rs 3,191 crore in the same quarter previous year, helped by healthy growth in net interest income and improvement in asset quality. The net profit was below expectations as Bloomberg analysts expected the lender to post
Tech Mahindra reported a higher-than-expected earnings in the September quarter on the back of improved revenue growth in communications, hi-tech and media, and banking, financial services and insurance verticals. The consolidated revenue rose over 2% sequentially to Rs 13,313.2 crore in July-September against Rs 13,005.5 crore reported in the June quarter. The topline also beat
Indian business leaders have launched a promising round of discussions in Mexico, aiming to unlock fresh trade and investment opportunities. The high-profile meeting, organized by the India México Business Chamber under the leadership of Amparo Kushelevich, signals a deeper alignment between the two nations as they explore ways to boost economic ties across sectors such
Finance Minister of India, Nirmala Sitharaman, kicked off her official visit to Mexico in the vibrant city of Guadalajara, a renowned IT hub in Latin America. Her choice of Guadalajara as her starting point underscores India’s commitment to fostering strong technological partnerships with Mexico and strengthening the region’s high-tech ecosystem. During her visit, she participated
The top four Indian IT services firms —TCS, Infosys, Wipro, and HCLTech — saw year-on-year decline in their total contract value (TCV) during the July-September period, due to the absence of mega deals and continued lumpiness in large deals. Further, geographically, revenue contribution from North America continued to decline for most them. Despite this, they
Nestle India’s growth may continue to be under pressure if the raw material prices remain elevated and urban demand is muted, analysts said. However, in the long run, its “RUrban” strategy may prove beneficial. Under it, Nestle India, which counts urban India as its majority consumer, aims to increase the company’s reach in rural and
JSW Steel has entered into a share purchase agreement to acquire 100% equity shares of thyssenkrupp Electrical Steel (tkES) through a 50:50 joint venture with Tokyo-headquartered JFE Steel for Rs 4,051.4 crore, the Sajjan Jindal-led steel company announced to the exchanges on Friday evening. The acquisition will be executed through Jsquare Electrical Steel Nashik, a
Tata Consumer on Friday beat Street estimates, reporting an almost 8% increase in net profit for the quarter ended September 2024 (Q2FY25) to Rs 364 crore, compared to Rs 338 crore in the same period last year. Analysts polled by Bloomberg had projected a net profit of Rs 343 crore for the quarter under review.
The benchmark equity indices opened Wednesday’s trading session gap-up. The NSE Nifty 50 opened 77.85 points or 0.34% higher at 23,253.90, while the BSE Sensex jumped 324.81 points or 0.42% to open at 76,824.44. “FIIs’ ongoing sell-off, amounting to Rs. 34,382.60 crore in January, is capping bullish expectations. Rising oil prices, WPI spike, and caution
By Ravi Singh In the previous week, the Nifty reached a high of 24,089 but experienced a sharp decline, closing the week with a loss of approximately 2.5%. This week the bearish sentiment is likely to persist, with ‘sell on rise’ being the preferred strategy. Traders can maintain a bearish stance, anticipating further downside. Currently
Gold prices have risen over 1% compared to ten days back while Silver prices have fallen 0.4% during the same time frame. The precious metals saw a price hike as the local currency, the rupee, depreciated to a new all-time low along with a surge in crude oil prices. On Tuesday, “gold traded within a
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a higher start on Wednesday following Asian markets opening on a mixed note in early trade hours. Previously, on Tuesday, the NSE Nifty 50 closed the session 90 points or 0.39% higher at 23,176.05, while the BSE Sensex closed 169.62
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Wednesday. Here’s a look at the key stocks to watch in trade. Stocks in Focus: GIFT Nifty was trading 40 points or 0.17% higher at 23,304 indicating a higher start for domestic indices NSE Nifty 50
