The HDFC Bank Group has been granted approval by the Reserve Bank of India (RBI) to acquire an aggregate holding of up to 9.5% in six banks. This approval follows the group’s submission of applications to the RBI, seeking to acquire paid-up share capital or voting rights of up to 9.5% in each bank. The … Read more
India is poised to sign a significant $78 billion deal to extend its liquefied natural gas (LNG) imports from Qatar until 2048, at rates lower than the current prices, according to sources familiar with the matter. The deal, to be inked by Petronet LNG Ltd, India’s largest LNG importer, and QatarEnergy, aims to extend the … Read more
In the third quarter of the fiscal year 2023-24, Bharti Airtel Ltd disclosed a remarkable 54% increase in consolidated net profit, reaching Rs 2,442 crore compared to Rs 1,588 crore in the corresponding period of the previous year. The company’s consolidated revenue witnessed a 6% rise, reaching Rs 37,900 crore in Q3FY24, although it faced … Read more
Tata Motors reported a substantial increase in its consolidated net profit, reaching Rs 7,025 crore in the October-December quarter, marking a two-fold rise from Rs 2,957.71 crore in the same period the previous year. This surge was attributed to strong demand for both passenger and commercial vehicles in India, sustained growth in Jaguar Land Rover … Read more
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Cement manufacturer ACC Ltd, a part of the Adani Group, has announced impressive financial results for the third quarter ending December 2023. The consolidated net profit witnessed a substantial increase of 375.10 percent, soaring to Rs 537.63 crore. This remarkable performance was attributed to the company’s revenue reaching Rs 4,914.36 crore, reflecting an 8.31 percent … Read more
Tata Steel Ltd has rebounded in the third quarter, reporting a consolidated net profit of Rs 522.14 crore, a significant turnaround from the net loss of Rs 2,501.95 crore in the same quarter last year. Robust domestic demand played a pivotal role in offsetting European weaknesses. The second quarter had seen a net loss of … Read more
In the third quarter of the fiscal year 2023-24, Axis Bank reported a net profit of Rs 6,071 crore, reflecting a 4% growth compared to the same period last year. However, this figure slightly falls short of the market estimate of Rs 6,114 crore. The net interest income (NII), standing at Rs 12,532 crore, aligns … Read more
Asian Paints recorded consolidated net sales of Rs 9,103.09 crore in December 2023, marking a 5.4% year-on-year increase. The quarterly figures for Asian Paints are as follows: As of January 17, 2024, Asian Paints shares closed at 3,242.30 on NSE, reflecting a -6.30% return over the last 6 months and a 10.25% return over the … Read more
HDFC Bank, a leading player in the Indian banking sector, has announced its impressive financial results for the third quarter of the fiscal year 2023-24, showcasing a substantial growth trajectory. Here’s a comprehensive overview of the key highlights from the Q3 report: 1. Stellar Net Profit Growth: 2. Net Interest Income (NII) Surge: 3. Asset … Read more