Page 2 - Financials

Spandana Sphoorty's net profit rises 268% to Rs 105 cr in March quarter

The overall assets under management stood at Rs 8,511 crore as of March 31, 2023, against Rs 6,581 crore in the year-ago period

Choice International plans to launch 10 new branches in North India in FY24

Financial services provider Choice International on Wednesday announced plans to expand its operations in north India by launching 10 new branches in the first half of the current financial year. The move is aimed at strengthening its presence in the region and providing financial services to its customers. To support these new locations, the group plans to hire 250 employees for broking, mutual funds and insurance, in addition to the existing 150-member team in Delhi and NCR, Choice International Ltd, which is listed on BSE and NSE, said in a statement. Of the 10 new branches, three would be in Delhi and one each in Noida, Faridabad, Gurugram, Lucknow, Chandigarh, Ambala and Panipat. In addition, Choice Group plans to open 10 more branches, including Dehradun, Kanpur, Prayagraj, Saharanpur, Ludhiana, Jalandhar, Jammu, Amritsar, Shimla and Bareilly in the coming 1-2 quarters. Overall, the company aims to have 500 employees in north India, including those in the upcoming branches f

Sensex falls 216 pts, Nifty below 18,600 on RBI's moderately hawkish policy

CLOSING BELL: The central bank increased repo rate by 35 basis points and lowered GDP growth forecast for FY23 to 6.8 per cent as it remained cautious of a sticky core inflation amid global turmoil

Time to raise high-beta bets as markets eye new highs, say Analysts

Amid moderation in inflation, markets seem to have moved past fears of interest rate hikes and investors are now anticipating strong foreign inflows into domestic equities, analysts said

Twitter bankruptcy possible if cash burn doesn't stop, Musk tells employees

Confidence in the company has eroded so rapidly that, even before Musk's bankruptcy comments, some funds were offering to buy the loans for as little as 60 cents on the dollar

Financials, IT, energy see highest FPI selloff in last fortnight of Sept

The selling dragged the BSE Financial Services index by 4.7 per cent in the last two weeks of September.

Long Covid costing Australia's economy $3.6 bn annually, says report

Australia has announced a parliamentary inquiry into long Covid, with the aim of developing a clear definition of the illness and gauging the scale of its impact on the country's 26 million people

Financials, FMCG get nearly half of FPI flows in August, says report

Despite the positive flows, the allocation in IT at 10.7 per cent dropped for the fifth consecutive month and is the lowest since March 2018

Freebie culture deteriorating states' financial health: Venkaiah Naidu

"The government should definitely support the poor and needy but at the same time should prioritise health, education and infrastructure development," he said

Economic recovery gradual, uneven amidst global headwinds: RBI report

Corporate sales and profitability increasing and gross NPA of banks is at 6-year low

Canara Robeco MF halts inflows from UAE investors after nation's scrutiny

This was done after FATF added UAE to the Grey List

A firm's financial performance and ESG score are linked: ESGRisk.ai chief

In a Q&A, Sankar Chakraborti, who is also the group CEO at Acuite Ratings & Research, explains why ESG scores matter to investors

RattanIndia Power loss widens to Rs 464 crore in September quarter

The company on Wednesday reported widening of consolidated net loss

Collection efficiency of NBFCs retail pool down by 10-35% in May vs March

The collections for SME loan pools and commercial vehicle loan pools also fell significantly by around 20 per cent from the peak achieved in March 2021: Icra

JSW Energy posts 27% decline in profit to Rs 795 cr, income slides 16%

The company attributed the slip in profit to the Covid-19 pandemic and the decline of merchant power sales

Accenture raises business outlook for CY21; Q3 revenue beats estimate

Accenture reported revenue of $13.3 billion, up 21 per cent YoY, and 9.9 per cent sequentially

Videocon Industries financial creditors to get 8% stake in merged entity

The financial creditors of the debt-ridden Videocon Industries will get 8 per cent equity in the entity created by the merger of 11 group companies with the firm as per the resolution plan

Lagging behind: Brokerage firm CLSA flags 'odd' Indian financials trend

The Nifty Financial Services index is up 8.1 per cent on a year-to-date basis. In comparison, the Nifty50 index has gained 9.7 per cent

'Markets conditions are optimal for an investor with a buy & hold approach'

There are opportunities for contrarian investing in commodity producers, corporate banks, select mid corporates and small enterprises

Financial stocks cornered over half of $3.56 billion FPI flows in Feb

Sector now has 34.8% of FPI assets, up from 33.8% in Jan; flows drove banking index to all-time high