Nikhil Kamath is India's youngest billionaire. Check out who else is on Forbes' 2024 list
Nikhil Kamath, co-founder of Zerodha, tops India's youngest billionaires list with a net worth of $3.1 billion. Mukesh Ambani remains the richest. Zerodha disrupted India's brokerage market with 10 million clients. Key Points
mintKotak Mahindra Banks Q3 Results: Should you Buy, Sell or Hold the stock post earnings?
Kotak Mahindra Bank: The Kotak Mahindra Banks Q3 stand alone net profit at ₹3005 growing 7.6% YoY missed estimates of some analysts. However the same was due to one offs . Key Points
mintUGC net Result 2023: How, where to check NTA net December results
UGC net Result 2023 will be announced shortly. Know where and how to check NTA net December results. Key Points
Hindustan TimesOption traders sound alarm bells over sizzling Indian stock market rally
Proprietary traders have boosted net short positions in index calls, while trimming their net shorts in index-based puts, according to data compiled by Bloomberg. Prop traders — who take on market exposure for themselves rather than their clients — account for the largest single share of the total derivatives volume in India, so monitoring their positioning comes with extra significance. Key Points
Economic TimesIndia's CV market to hit new peak in FY24, outlook strong: Ashok Leyland
After hitting a multi-year low in FY21 due to the pandemic, India's truck and bus market has been growing in the last couple of years. In FY23, it surpassed the FY18 peak with 962,000 vehicles. It had sold 856,000 in FY18, according to the Society of Indian Automobile Manufacturers. Key Points
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State Bank of India's net profit rises 8% in July-September
State Bank of India (SBI.NS), the country's largest lender, reported an 8% increase in net profit for the July-September quarter on Saturday, helped by healthy core lending income and robust loan growth. Key Points
ReutersBBVA's Q3 net profit rises 13% boosted by Spain and Mexico
Spain's BBVA (BBVA.MC) on Tuesday posted a 13% rise in third-quarter net profit rose 13% buoyed by higher lending income in its main markets, Spain and Mexico. Key Points
ReutersCaixabank's Q3 net profit rises 70% on higher lending income
Spain's Caixabank (CABK.MC) said on Friday its net profit rose 70% in the third quarter from the same period in 2022 as higher interest rates boosted lending income despite a decline of its loan portfolio. Key Points
ReutersIndia's ICICI Bank beats estimates with 36% jump in Q2 net profit
India's second largest private lender ICICI Bank (ICBK.NS) reported a 35.8% increase in net profit for the July-September quarter on Saturday, buoyed by strong growth in core lending income and robust loan growth. Key Points
ReutersIndia's Kotak Mahindra Bank net profit jumps 24% in Q2, meets estimates
India's Kotak Mahindra Bank (KTKM.NS) reported a 24% increase in second-quarter net profit on Saturday, buoyed by healthy core lending income and robust loan growth. Key Points
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US FCC chair proposes to restore net neutrality rules
U.S. Federal Communications Commission chair Jessica Rosenworcel on Tuesday said she would move quickly to reinstate landmark net neutrality rules rescinded under former President Donald Trump. Key Points
ReutersState Bank of India Q1 profit nearly triples to all-time high
State Bank of India (SBI.NS), the country's largest lender, on Friday reported a near three-fold jump in first-quarter profit, led by a surge in net interest income, healthy loan growth and lower provisions. Key Points
ReutersIndia's Axis Bank misses Q1 profit view as loan-loss provisions jump
India's Axis Bank Ltd (AXBK.NS) reported a smaller-than-expected 40.5% growth in first-quarter profit on Wednesday, as a sharp surge in loan-loss provisions outstripped a jump in net interest income. Key Points
ReutersIndia's ICICI Bank beats estimates with record April-June net profit
ICICI Bank (ICBK.NS) beat first-quarter expectations on Saturday as higher interest income and loan growth helped deliver a record net profit for India's second-largest private lender. Key Points
ReutersIndia Yes Bank's net profit rises 10.3% in April-June
India's Yes Bank (YESB.NS) reported a smaller-than-expected increase in quarterly net profit on Saturday as it kept aside more money for bad loans, denting the impact of higher net interest income. Key Points
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India Kotak Mahindra Bank's 67% profit jump beats expectations
India's Kotak Mahindra Bank (KTKM.NS) beat expectations on Saturday with a 67% year-on-year rise in net profit for the April-June quarter, helped by higher net interest income and robust loan growth. Key Points
ReutersCSIR UGC net Result 2023: Where, how to check scores
NTA will soon announce results of the Joint CSIR-UGC net 2023 on csirnet.nta.nic.in. Key Points
Hindustan TimesIndia's richest man: Mukesh Ambani on top; check other tycoons on the list
Mukesh Ambani remains India's richest person with a net worth of ₹7.5 lakh crore, while Gautam Adani is his closest rival with a net worth of $61.4 billion. Key Points
mintJayshree Ullal, Neerja Sethi, Neha Narkhede, Indra Nooyi: Meet Indian-origin women on 'America's Richest Self-Made Women' List
Four Indian-origin women have made it to the Forbes list of America's 100 richest self-made women, with a combined net worth of a $4.06 billion. Key Points
Business TodayHAL Board to meet on June 27 to discuss equity Share Split. HAL to pay 400% dividend for FY22-23
Hindustan Aeronautics Ltd shares rose 2.61% to an intraday high of ₹3,861.80 before closing down 3.28% to ₹3,640.20. The company announced a proposal to split its equity shares. The stock has seen significant increases in the past three years, with net sales rising by 9.37%. Key Points
mint
SGX Nifty down 10 points; here's what changed for market while you were sleeping
Foreign portfolio investors were net buyers for the second straight day at Rs 1,714 crore. DIIs net sold shares worth Rs 654 crore on Wednesday. Key Points
Economic TimesExplainSpeaking: Ultra-rich individuals are projected to keep leaving India in 2023. Why do the rich migrate from a country?
India’s likely net outflow (net of inflow and outflow) in 2023 will make it the second worst performer on losing HNWIs after China. In 2022, India saw an outflow of 7,500 such individuals. Key Points
The Indian ExpressBTR Boys are back! Check net worth of members
BTR boys Kendall Schmidt, James Maslow, Logan Henderson, and Carlos PenaVega are ready to hit the road with a summer tour. They have already rolled out an album. Key Points
Economic TimesRealty stock declares dividend, LIC held 2.85% stake in Q4: Do you own?
Swan Energy is a mid cap real estate company that recorded a market cap of ₹6,064.81 Cr during Friday's closing session. Key Points
mintnet Worth Meaning: Measure of one's Wealth
A net worth statement or balance sheet is intended to give you an idea of the financial state of your business at a certain point in time. Although they can be created at any time, net worth statements are frequently created at the start and end of the accounting period. Key Points
Times of India
Kotak Mahindra Bank Q4 Results: Profit jumps 26% YoY to Rs 3,496 crore; NII rises 35%
The bank's operating profit rose 39.14% YoY during the quarter to Rs 4,647.37 crore. Its net NPA decreased to Rs 1,193.30 crore in Q4 vs Rs 1,736.71 crore in the year-ago period. Key Points
Economic TimesQ4 results today: What to expect from Kotak Bank, IDFC First Bank and RBL Bank
Indian financial firms Kotak Mahindra Bank, IDBI Bank, IDFC First Bank and RBL Bank are among those set to report financial results on 24 April. Kotak is expected to see a rise in net interest income for the year to May 2023, while IDFC could report healthy loan growth led by retail and commercial finance. If estimates hold, IDFC will report Q1 net profit of INR640 crore ($85m), while RBL Bank could book INR220 crore, brokerage firm Motilal Oswal said. Key Points
Economic TimesAxis Bank Q4 preview: Citi integration costs may drag bottomline, margin outlook eyed
Axis Banks Q4 earnings are expected to be impacted by the one-off costs due to the integration of Citibank Indias business, leading to net losses, according to some analysts. The estimated net loss ranges from INR 54.12bn to INR 55.26bn, while others have excluded the integration costs from their calculations. The banks strong core performance is projected despite one-off costs, led by high double-digit growth in net interest income, lower bad loans, and net interest margin. Key items to watch from the management include business plans, near-term growth trends, and margin trajectory. Key Points
Economic TimesCSIR-UGC net 2023 registration ends today on csirnet.nta.nic.in
Candidates can apply for CSIR-UGC net 2023 on csirnet.nta.nic.in. The direct link is given inside. | Competitive Exams Key Points
Hindustan TimesInflation to impact profitability and growth: S&P Business Outlook Survey
The headline value of the index or the net balance declined to 21% in February compared to 28% in October, indicating a weaker degree of optimism. The global average was 32%, whereas the emerging markets averaged 33%, as per the report released on Monday. Key Points
Economic Times
UGC net Phase 1 Exam begins today, check details here
The UGC net June 2023 Phase 1 exam will be held from 13th to 17th June, and Phase 2 from 19th to 22nd June. The exam will cover 83 subjects and will be held in 310 centers across India. Key Points
mintHDFC Bank Q3 result preview: PAT likely to rise 28% YoY, margin trajectory outlook eyed
HDFC Bank is expected to report a double-digit year-on-year growth in net profit for Q3. net interest income is likely to grow 21% YoY. The bank's net profit is seen rising 28.4% YoY to Rs 15,739 crore. Sequentially, net interest income will see a moderate 6% growth while profit may drop 1.5%. Key Points
Economic TimesAxis Bank share price in focus ahead of Q2 results; check details
Axis Bank share price flat ahead of Q2 results. Axis Bank stock may face further correction. Axis Bank expected to see 12% YoY rise in net profit. Key Points
mintYES Bank Q2 Preview: Profit likely to double YoY; NII seen flat
The focus for the bank is shifting toward rebuilding the business and investors should watch out for commentary on growth and return to normalised levels of business operations. YES Bank posted 10% growth in its June quarter profit at Rs 342.52 crore. Its net interest income was up 8% from a year ago and stood at Rs 2,000 crore. Key Points
Economic TimesNearly $1 billion outflow! MSCI reduces weights of these 15 Nifty stocks
MSCI Inc has reduced the weightage of 15 Nifty50 stocks as part of its May global index review. The downgrades will cause net outflows of nearly $1bn. Weights of Tech Mahindra, Tata Consultancy Services, Infosys and Mphasis have been cut. Weights for Axis Bank, Bajaj Finance, Divis Laboratories, ICICI Bank, HDFC, Hindalco Industries, Bharat Petroleum Corp and JSW Steel have also been reduced. The weights of eight index stocks, including Kotak Mahindra Bank, NTPC and UltraTech Cement have been increased, resulting in net inflows of approximately $400m. Key Points
Economic Times
UGC net 2022 Result LIVE Updates: NTA to release score soon
UGC net 2022 Result LIVE Updates: NTA conducted UGC-NET December 2022 in 83 subjects in five phases. Candidates who appeared in the exam can check the result at the official website - ugcnet.nta.nic.in Key Points
The Indian Express20L formal jobs created in July, biggest monthly addition to EPFO. 3 lakh women entered job market
The retirement fund body added 10.52 lakh new members in July—an increase of over 2.66 percent from June. Maharashtra alone contributed 20.21 percent of the total new additions. Key Points
ThePrintStock rally brings Gautam Adani back among world's 20 richest billionaires
Adani is now at the 19th spot in the Bloomberg Billionaires Index. His total net worth has seen a $6.5 billion uptick as last reported by Bloomberg. The Ahmedabad-based businessman's total net worth is still down by $53.8 billion on the year-to-date basis. Key Points
Economic TimesBajaj Finance Q2 Preview: net profit may rise 31% YoY; fund utilisation plan eyed
Bajaj Finance Q2 preview: Bajaj Finance is seen reporting a 31% year-on-year (YoY) rise in consolidated net profit for the September quarter to Rs 3,632 crore, according to the average of estimates given by seven brokerage houses. net interest income, the difference between interest earned and interest expended, may grow a modest 5% YoY to Rs 7,340 crore. Key Points
Economic TimesDalal Street hits fresh highs driven by strong FPI buying activity
India's domestic stock benchmarks, the Sensex and the Nifty, reached new highs, driven by increased investments from foreign investors who view India as a bright spot in the global economy. The Adani Group, along with stocks in the metals, auto, and financial sectors, led the surge. However, analysts have cautioned that India's equity valuations have become rich, which may limit further upside potential. Foreign portfolio investors turned net buyers after several sessions of selling, contributing to the rally. Overall, sentiment is positive in global equities following upbeat US economic data. Key Points
Economic Times
Mark Zuckerberg is richer by $10 billion as Meta declares great quarter after layoffs, cost-cutting
Meta's CEO Mark Zuckerberg now has a fortune of $87.3 billion. A report from Bloomberg reveals that this hike has helped him reach the highest net worth ever in over a year, making up for the loss that he incurred back in 2022 Key Points
India TodayCipla, Bajaj Auto, Dalmia Bharat, Tata Consumer Products, Welspun stocks in focus
The SGX Nifty indicated a start in the red for domestic indices Nifty and Sensex. Cipla, Bajaj Auto, Dalmia Bharat are some of the stocks in focus today. Key Points
FinancialexpressRekha Jhunjhunwala to Rohiqa Cyrus Mistry: Here are India’s richest women and their net worth as per Forbes’ latest list of billionaires
Forbes has reported that India's billionaire list for 2023 now includes 16 newcomers, out of which three are women. Among these women, two have inherited their fortunes. Let’s take a look at the country’s richest women. Key Points
FinancialexpressGIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Foreign portfolio investors net sold shares worth Rs 1,879 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 872 crore. Key Points
Economic TimesQ3 Results Today: Bajaj Auto, Tata Steel, Tech Mahindra, DLF among 78 companies to announce earnings
The BSE will see seventy eight companies announcing their December quarter earnings, including Bajaj Auto, Tata Steel, and Tech Mahindra. Axis Bank reported a 4% YoY increase in net profit for the October-December quarter. Bajaj Auto is expected to have a 33.3% YoY rise in net profit, while Tech Mahindra may see a decline in revenue but a rise in net profit. Other companies announcing their Q3 results include Ujjivan Small Finance Bank, UCO Bank, TVS Motor Company, Railtel, and PNB Housing. Key Points
Economic Times
Pepsico logs double-digit beverage growth in India in July-Sept
PepsiCo's Indian business saw a double-digit growth in beverage unit volumes in Q3 2023, while its convenient foods business experienced a decline in unit volume. The company's net revenue in the Africa, Middle East, South Asia division also decreased, primarily due to the weakening of the Egyptian pound and a net organic volume decline. Key Points
Economic TimesFPI buying nosedives 94% week-on-week; are dollars taking a “U” turn on Dalal Street?
Foreign portfolio investors' (FPIs) buying spree in Indian equities appears to be losing steam, with net investments of just Rs 468 crore in domestic markets last week, compared to Rs 7,804 crore in the preceding week. The benchmarks Sensex and Nifty 50 witnessed their first weekly loss in five weeks as investors took partial profits. However, inflows from FPIs were positive for the fourth consecutive month, with over $4bn invested in July, lower than June's over $6bn inflows. Key Points
Economic TimesBank of Baroda shares rise on strong Q4 earnings. What should you do now?
Bank of Baroda's shares increased after reporting strong Q4 earnings, with CLSA, Kotak Institutional Equities, and Motilal Oswal rating the lender as a 'Buy'. Meanwhile, Macquarie stood neutral after the Q4 report. The net interest income for the quarter rose by 33.8% to Rs 11,525 crore, with a YoY growth of 26.8% at Rs 41,355 crore for FY23. However, analysts have warned that RoEs are reliant on credit costs, and MOSL has cautioned that further ECL provisioning is required. Key Points
Economic TimesBritannia Q4: net profit up 47.5% to ₹557 cr, revenue up 13%
The consolidated revenue from operation rose by 13 per cent to ₹4,023.18 crore in the quarter under review from ₹3,550.45 crore. Key Points
mintTMB Q4 PAT grows 11.45% to ₹253.05 cr.
Tamilnad Mercantile Bank Ltd. (TMB) reported fourth-quarter net profit grew 11.45% to ₹253.05 crore from the year-earlier period following improvement performance. Key Points
The Hindu
Q3 results today: ICICI Bank, Kotak Bank, IDBI among 40 companies to announce earnings
40 companies announcing their quarterly earnings. ICICI Bank and Kotak Mahindra Bank are among the most tracked after results. Other important results include IDBI Bank, IDFC First Bank, IREDA, J&K Bank, JK Cement, Persistent Systems, and Union Bank. Key Points
Economic TimesEFG shares jump 3% following record profitability
EFG International (EFGN.S) shares were up 3% early on Thursday after the Swiss private bank reported net profit of more than 240 million Swiss francs ($270.09 million) for the first 10 months of the year and expanded its share buyback program. Key Points
ReutersMaruti Suzuki Q2 profit jumps 80% to Rs 3,717 cr
Maruti Suzuki India has recorded its highest-ever quarterly sales volume and net profit in the second quarter of the current fiscal. The reported a whopping 80.3% increase in net profit at Rs 3,716.5 crore in July-September quarter driven by better sales, softening commodity prices, cost-reduction e Key Points
The Tribune IndiaIndia cenbank sold net $3.86 bln in spot forex market in August – bulletin
The Reserve Bank of India (RBI) sold a net $3.86 billion in the spot foreign exchange market in August, according to data released on Thursday as part of the central bank's monthly bulletin. Key Points
ReutersLIC Q1 results: net profit surges fourteen-fold to Rs 9,544 cr
LIC's solvency ratio improved marginally to 1.89 compared with 1.88 last year and its net premium income was mostly flat at Rs 98,363 crore Key Points
Business Today