Around six weeks ago, Sun Pharmaceutical Industries, India's largest drugmaker, suffered a setback, which led to a selloff in the share. The US District Court of New Jersey granted Incyte's request for a preliminary injunction against Sun Pharma's launch of Leqselvi, a drug that treats alopecia.
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
The reduction in value of Chandra's assets comes close on the heels of the group's debt burgeoning to over Rs 12,000 crore, much of which he had raised by pledging his shares to banks and mutual funds in his flagship company ZEEL after many of the groups infrastructure bets did not take off.
Indian companies are generating more cash than ever. The net cash flow from listed firms' operations hit a new high of Rs 11.1 trillion in financial year 2023-24 (FY24), crossing the Rs 10-trillion mark for the first time, according to the Centre for Monitoring Indian Economy (CMIE) data going back to 1990-91. The FY24 figure represents a 19.3 per cent jump over the previous year, even as quite a few companies are yet to release their numbers.
RBI said the improvement in asset quality was driven by state-run lenders which saw a drop both in both GNPA and in the net NPA ratios.
Any speculation suggesting otherwise, or any rumours around sale of our business in India are incorrect and simply that -- rumours, says head of the US-based asset manager.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
Your net worth is simply the value of what you own less what you owe. Here's a step-by-step guide to calculate your net worth.
Crisis-hit Go First has sought various interim directions from the National Company Law Tribunal, including restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the airline. The Wadia group-owned airline, which has liabilities worth Rs 11,463 crore, has sought voluntary insolvency resolution proceedings and the plea is set to be heard by the Delhi bench of the NCLT on Thursday. Go First has cancelled all its flights for three days starting from May 3.
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
Follow this 15 x 15 x 15 rule to become a crorepati without taking big risks. Ramalingam Kalirajan explains how
The stocks of Mumbai-based real estate companies have been hitting lifetime highs on expectations that launches, steady demand, and price increases in the largest real estate market in the country would boost their financials. Macrotech Developers (Lodha) and Oberoi Realty hit their all-time highs last week, while Godrej Properties came close to its 52-week high last month before witnessing a sharp correction.
Nineteen per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. Two hundred and nine participants with $568 billion AUM responded to the global FMS questions, while 145 participants with $331 billion in AUM responded to the regional fund manager survey (FMS) questions, BofA said.
Investors keen on mid and smallcap stocks but wary of volatility should consider multicap equity schemes over standalone midcap or smallcap schemes.
'If the majority falls short of expectations, it may prompt initial adjustments in investor sentiment.'
'...you evaluate three key factors before committing your money.'
Road awards were muted in Q1FY25. But the pace will accelerate with a bidding pipeline of Rs 1.1 trillion (September 2024), mostly dominated by HAM (Hybrid Annuity Model) projects, which contribute 47 per cent and engineering procurement and construction or EPC projects, which have about 36 per cent share. Hence, infrastructure companies mostly reported revenue decline on a year-on-year (Y-o-Y) basis in Q1FY25.
Reliance Industries on Friday reported a 41.5 per cent jump in its third quarter net profit as oil, retail and telecom businesses fired on all cylinders. Net profit of Rs 18,549 crore in October-December compared with Rs 13,101 crore a year back, the company said in a stock exchange filing. Income from operations rose to Rs 1.91 lakh crore from Rs 1.28 lakh crore.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
Riding the wave of the equity market, the mutual fund (MF) industry experienced double-digit growth in Samvat 2079, concluding the Hindu calendar year close to the Rs 50 trillion assets under management milestone. After a subdued 6 per cent growth in Samvat 2078, the industry's assets surged over 18 per cent last year to Rs 46.7 trillion. Industry players anticipate that Samvat 2080 will also be a fruitful year for the asset management industry, given the strong inflows from retail investors, particularly through the systematic investment plan route.
'There is not any negative connotation associated with it.'
Given gains in equity prices, it is not surprising that the earnings of asset management companies (AMCs) are growing quicker. The earnings momentum looks set to continue. Good fund performances have thus led to AMC earnings upgrades although valuations are high. Recent market performance and net flow trends have led to earnings upgrades by between 3-8 per cent for FY25-27.
The revenue growth of early birds or companies that have declared their Q4FY24 (March quarter) numbers is the highest in the last four quarters. The 178 companies (excluding their listed subsidiaries) that declared their results have reported a sales growth rate of 13.2 per cent year-on-year (Y-o-Y), taking aggregate revenue to Rs 9.1 trillion. Including other income, growth is at 16 per cent, the highest in the last four quarters.
The US banking behemoth Citigroup has got risky assets worth $306 billion -- a figure equivalent to over half the total assets, nearly six times of market value as well as annual revenue, or about 50-times of full-year net profit of all Indian banks together!
Housing finance major HDFC on Monday reported a 16 per cent growth in standalone net profit to Rs 3,700 crore for the January-March quarter, helped by record loan sales on the back of benign interest rates and the resultant fall in cost of funds along with the near-total repayments that culled provisions and credit costs. For the full year, the company, which is working on a reverse merger with its banking subsidiary, has booked a net profit of Rs 13,742 crore, up from Rs 12,027 crore in FY21, vice-chairman and chief executive Keki Mistry said on Monday in an earnings call with analysts. On a consolidated basis, net profit for the quarter surged 21.6 per cent to Rs 6,892 crore on-year and for the full year it jumped 21 per cent to Rs 22,595 crore, Mistry said and guided towards better days.
Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said recently, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24). The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges. According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
Operational and compliance challenges foreseen for fund houses in deducting tax at source, resulting in possible TDS mismatches and disputes with investors.
The fund house says it is doing this to protect the interests of existing investors.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Mutual fund houses hold Rs 3,400 crore of Yes Bank's 'riskier' bonds. Reliance MF, Franklin Templeton MF and UTI MF account for bulk of these exposures.
HDFC Bank met forecasts with a 30 per cent rise in quarterly profit led by higher loan growth, fee income and stable asset quality.
Liberty Media president and CEO Greg Maffei told analysts on a conference call that the move was the most efficient way of putting cash into the business, with Formula One getting a net cash payment of $1.4 billion.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
A growth scheme not only leads to lower tax payments than the dividend option. but also allows any income that is not withdrawn to compound, explains Harsh Roongta.
Investors who decide to enter medium to long-duration funds should be cognisant of the risk.
Regardless of market levels, invest in stocks and equity mutual funds in a staggered manner.
