Most companies reporting an improvement in operating margins in Q1 as they cut ad spends and other expenses.
The mutual fund (MF) industry added a record Rs 10 trillion to its total assets under management (AUM) in 2023, taking the cumulative tally past the Rs 50 trillion mark for the first time, in December. This 20 per cent growth in AUM last year was fuelled by a robust rally in the equity markets and a record Rs 1.62 trillion net inflows into active equity schemes. In another first, the AUM linked to systematic investment plans, too, hit Rs 10 trillion by the end of 2023.
HDFC Bank's shares fell by 3.46 per cent to close the day at Rs 659 on the BSE. In intra-day session, the scrip lost 4 per cent to Rs 655.10.
Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders. Also, the company's founder and chief executive officer (CEO) Vijay Shekhar Sharma has decided to oversee the day-to-day operations with all the major verticals reporting directly to him now. "The thing on top of everyone's agenda is getting the core businesses back on track," a person in the know said.
Most investors should have a 5% to 10% allocation to gold for diversification. They should stagger their investments to mitigate timing risk.
The top 10 fund houses are slowly losing ground to their smaller peers, even as they continue to hold the lion's share in the total assets under management (AUM) of the mutual fund (MF) industry, according to an analysis of the quarterly AUM for the past six years. These fund houses had an average AUM of Rs 38.8 trillion in the third quarter (Q3) of 2023-24, which is 79 per cent of the total industry AUM of Rs 49.2 trillion. The share has come down steadily since Q3 of 2019-2020, when the share stood at 84 per cent.
Movement in the equity market this week will largely be dictated by quarterly earnings of blue-chip firms HDFC Bank and Hindustan Unilever, along with the announcement of WPI inflation data and global trends, analysts said. Trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also guide the movement.
Total income increased to Rs 4,942.31 crore (Rs 49.42 billion) from Rs 3,821.6 crore during the year ago quarter," HDFC chairman Deepak S Parekh told the shareholders at the annual general meeting in Mumbai on Wednesday afternoon.
Among the Sensex firms, Wipro jumped over 6 per cent, the most among the frontline companies. HCL Technologies, Tata Motors, Maruti, Tata Steel, Infosys, Tech Mahindra, Larsen & Toubro and JSW Steel were the other major winners. State Bank of India, Bajaj Finance, ICICI Bank, HDFC Bank, Axis Bank and IndusInd Bank were among the laggards.
From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.
Reliance Industries was the biggest gainer in the Sensex pack, rising 2.69 per cent, followed by HCL Tech, ICICI Bank, Tata Motors, Wipro, IndusInd Bank, JSW Steel, Wipro, Tata Consultancy Services and Titan. In contrast, NTPC, Power Grid, UltraTech Cement, Axis Bank, Infosys and Nestle were the major laggards.
Within days of announcing mega investments for building in Hyderabad its second data centre cluster in India, Amazon Web Services (AWS) on Monday said it is excited about the India market, where cloud adoption offers massive headroom for growth. Pledging its long-term commitment to the India market, AWS, Amazon's cloud computing unit, said it expects global uncertainties to accelerate the decisions by companies to opt for flexible, on-demand cloud infrastructure to pare costs, gain efficiencies and drive business innovation. "Cloud reacts well to uncertainty," Puneet Chandok, president - commercial business, AWS India and South Asia, Amazon Internet Services Pvt Ltd (AISPL) told PTI.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
Cracking down on repeated non-compliance of IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found "serious deficiencies" in the lender's IT risk management. These actions, the RBI said, are necessitated based on significant concerns arising out of Reserve Bank's IT examination of the bank for the years 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Profit before tax jumped 24 per cent to Rs 1,291.66 crore, against Rs 1,043.34 crore in the year-ago period.
The benchmark National Stock Exchange Nifty has rallied 4 per cent, or 750 points, from this month's low to end at 19,732 on week ending November 17. Technical analysts say the market could consolidate around the current levels as it is nearing the resistance zone. "The near-term uptrend status of the market remains intact, but there is a possibility of some more consolidation or minor weakness for the Nifty in the next one to two sessions.
Home prices firm up in 2015 in India.
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent. The 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
HDFC bank has national distribution network of 3,119 branches across the country as on June 30, 2013.
Lender had 5.12 mn cards - almost a third of the total number of credit cards in the industry - at the end of November, 2013.
Total income of the bank rose to Rs 8,622.64 crore (Rs 86.22 billion) during the October-December quarter, from Rs 6,357.78 crore (Rs 63.57 billion) in the same period a year ago, HDFC Bank said in a filing to the Bombay Stock Exchange.
Private sector lender HDFC Bank on Friday reported a 31.64 per cent jump in its net profit at Rs 818.50 crore (Rs 8.18 billion) for the third quarter ended December 2009, over the corresponding period a year earlier.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
HDFC Bank on Friday ruled out acquisitions or mergers at present but said it hopes to grow by 25-30 per cent in the next two-three years.
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
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The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Despite the uncertainties created by rising bond yields and oil prices, fund managers have been proactively deploying fresh flows into the equity market. The cash available with equity fund managers, which has remained lower at around 5 per cent in the past few months, hit a 16-month low of 4.8 per cent in September, shows a Motilal Oswal Financial Services report. Cash holdings in equity schemes had topped 6 per cent in February amid subdued equity market sentiment.
Investors' wealth soared by Rs 10.58 lakh crore in three days of the market rally, where the BSE benchmark jumped over 2 per cent, and hit an all-time high on Monday. Extending its winning momentum to the third day running, the 30-share BSE Sensex jumped 363.20 points or 0.49 per cent to settle at 74,014.55. During the day, it zoomed 603.27 points or 0.81 per cent to hit its record high of 74,254.62.
Investors' wealth grew by Rs 3.24 lakh crore on Thursday as the BSE Sensex jumped nearly 1 per cent after a two-day slide. The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79.
Total income for the quarter ended March 31, 2019, stood at Rs 31,204.5 crore, up by 22.1 per cent from Rs 25,549.7 crore for the quarter ended on March 31, 2018,
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
