Private sector banks that announced their earnings for the October-December quarter (Q3) of 2024-25 (FY25) reported a rise in credit costs due to higher provisions, mainly for unsecured retail loans.
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
Moody's Investors Service on Wednesday said the outlook for global banks for 2024 is negative as central banks' tighter monetary policies have resulted in lower GDP growth. It said Indian banks' profitability will increase further on lower provisioning expenses and robust growth in higher-yielding retail segments. "Our outlook for global banks for 2024 is negative as central banks' tighter monetary policies have resulted in lower GDP growth.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
'Investment by insurers in the Bima Sugam India Federation is illegal as it is a private limited company.'
Life insurance companies reported a 13.16 per cent year-on-year (Y-o-Y) growth in new business premium (NBP), totting up Rs 30,347 crore in October, even as the number of policies sold saw a sharp decline. The growth was largely driven by strong performance from private sector life insurers.
'We may see even more restrictive policies during 2.0.'
'Obesity, especially central obesity and increased visceral fat due to physical inactivity, along with the consumption of high-calorie, high-fat, and high-sugar diets, are major contributing factors.'
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
Why try to time the market when time in the market works better? History shows that patient investors who stay the course often walk away with the real rewards, says Ramalingam Kalirajan.
The Income Tax Department has notified ITR forms 1 and 4, which are filed by individuals and entities with annual total income of up to Rs 50 lakh for FY 2023-24 (AY 2024-25). Individuals, besides Hindu Undivided Families (HUFs), firms having income up to Rs 50 lakh and those having earnings from business and profession in the current fiscal (April 2023-March 2024) can start filing returns for the income earned this financial year.
rediffGURU Komal Jethmani can answer your health, fitness and diabetes-related questions.
Uttam Ghosh on how rail passengers will benefit from the Railway Budget.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Major credit issuers, including the largest - HDFC Bank - have integrated their systems with the Bharat Bill Payment Systems (BBPS) for receiving credit card repayments via third-party applications.
Credit card spending in September recorded strong growth of 25 per cent year-on-year (Y-o-Y), marking the highest increase in six months. Even as many banks saw higher slippages during the July-September quarter of 2024-25, spending growth exceeded 20 per cent for the first time since February. According to the latest data released by the Reserve Bank of India (RBI), September spending reached Rs 1.76 trillion, compared to Rs 1.42 trillion in the same period a year ago. In August 2024, credit card spending was Rs 1.68 trillion.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
When we saw her on the runway with Aditya Roy Kapoor for Tom Tailor, we couldn't stop ourselves from wolf-whistling!
Reserve Bank Governor Shaktikanta Das on Friday said there is no plan to loosen interest rates as inflation continues to be the top priority for the central bank. Speaking to reporters at the central bank headquarters here, Das clarified that the inclusion of "over tightening" in his statement while announcing the fifth consecutive status quo in rates, should not be construed as anything else. A "loosening" in rates is not on the table, Das added.
rediffGURU T S Khurana answers readers' personal income tax queries.
The ongoing fourth quarter earnings season, global factors and macroeconomic data would guide the trends in the equity markets this week, analysts said. Markets would also take cues from trading activity of foreign investors, rupee-dollar trend and movement of global oil benchmark Brent crude. "Domestically, the next batch of Q4 earnings reports will drive stock-specific movements, Hero MotoCorp, Larsen & Toubro, BPCL, State Bank of India, Eicher Motors and Tata Motors are some of the big names in the list and the next phase of voting," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd.
The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore in the next month, merchant bankers said. Education-focused NBFC Avanse Financial Services, TPG Capital-backed Sai Life Sciences, hospital chain operator Paras Healthcare, and investment bank DAM Capital Advisors are also among the companies planning to launch their IPOs in December, they added. The companies aim to raise a total of Rs 20,000 crore through their public offerings.
As per the Interim Budget 2024-25 document tabled in the Lok Sabha, the government is not expected to receive any money from monetisation of public assets in the current fiscal.
'How many jobs will be created when you complete your course?' 'How many people will compete with you?' 'What is the minimum and maximum salary you can expect?' 'Which are the companies that will offer you a job?' 'What skills do you have to develop?' 'How long will it sustain?'
Corporate India's struggle with subdued revenue and earnings growth persisted in the October-December quarter of 2024-25 (Q3FY25). The combined net sales (gross interest earnings for lenders) of listed companies grew in single digits for the seventh consecutive quarter, while their combined net profit rose by a single digit for the third straight quarter.
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets may consolidate after the record rally last week, experts added. "On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively.
Towards the end of February, the Reserve Bank of India (RBI) restored the risk weighting on banks loans to non-banking financial companies (NBFCs; including to microfinance institutions, or MFIs) to 100 - back to its November 2023 position - from 125. It is only a partial relief though. "Higher risk weighting on unsecured lending continues to be in place while the same on bank funding to NBFCs has been done away with. "This is a positive step by RBI," says Rajiv Sabharwal, managing director (MD) and chief executive officer (CEO), Tata Capital.
Net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent year-on-year to $15.41 billion in the first 10 months of this financial year due to an increase in the repatriation of capital. According to the Reserve Bank of India's data in the March 2024 bulletin, FDI in India was $25.53 billion and outflows were $10.11 billion in April 2023-January 2024. In the same period last year, FDI inflows stood at $36.75 billion and outflows at $11.75 billion.
Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
The Income Tax department has enabled online filing of income tax returns (ITRs) 1 and 4, filed by individuals, professionals and small businesses, for 2022-23 fiscal. In a tweet, the income tax department said, the software/utilities for preparing other ITRs/ Forms will be enabled shortly.
Release of key macroeconomic numbers, monthly derivatives expiry, and global cues are likely to drive stock market movement this week, according to analysts. Markets will also be reacting to remarks made by the US Federal Reserve Chair Jerome Powell, they said. "This week, we expect the market to witness a gradual up-move with stock-specific action.
The rupee remains overvalued against the currencies of India's trading partners, even as it hit record lows against the dollar in August and September. According to the Reserve Bank of India's (RBI) real effective exchange rate (REER) index, the rupee stood at 5.5 per cent above its fair value in August, down from 7.7 per cent in July. This slight easing followed fears of a US recession and the unwinding of yen carry trades, which exerted pressure on the Indian currency.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
Commissions paid to mutual fund distributors (MFDs) increased by over 20 per cent for most large fund houses in 2023-24 (FY24), driven by a sharp market rally and strong inflows. The largest fund house, SBI Mutual Fund (MF), which now manages nearly Rs 10 trillion in assets, paid Rs 2,025 crore to its major distributors - 21 per cent higher than the Rs 1,675 crore payout in 2022-23 (FY23).
'Health and motor insurance will continue to be our two most important segments'
Certain foreign portfolio investors (FPIs), which operate as pooled investment vehicles (PIVs), may not be exempt from the additional disclosure mandates by the Securities and Exchange Board of India (Sebi) following an update in the standard operating procedures (SOPs) for custodians. An updated version of the SOPs has specified several conditions to be met for PIVs to benefit from the exemptions granted. These include no segregated portfolios, independent investment manager, and investors having pari-passu (equal) rights in the entity.
Price of international crude oil - the raw material for making petrol and diesel - dropped to a three-year low before marginally recovering but a revision in domestic petrol and diesel rates is likely only if lower rates are sustained, industry sources and officials said. Global oil benchmark Brent crude futures fell below $70 per barrel on Tuesday - the first time since December 2021 - but gained thereafter after Hurricane Francine hit crude supply in the Gulf of Mexico. Brent rose above $71 a barrel on Thursday while West Texas Intermediate advanced to trade near $68.
After two months of net outflow, foreign investors turned buyers in June, infusing Rs 26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets. Looking ahead, attention will gradually shift towards the budget and Q1 FY25 earnings, which could determine the sustainability of FPI flows, Vipul Bhowar, Director, Listed Investments, Waterfield Advisors, said.
rediffGURU Ulhas Joshi answers your mutual fund queries.
