Analysts on average had expected a net profit of Rs 26.93 billion for ICICI Bank, which is also listed in New York.
HDFC Bank has reported a 20% rise in its Q2 profit.
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
Tata Motors' UK-based subsidiary, Jaguar Land Rover or JLR, reported a muted operational performance in the December quarter of financial year 2021-22 (Q3FY22). The luxury carmaker saw a 33 per cent year-on-year (YoY) decline in wholesale volumes to just under 70,000 units in Q3, against estimates that were 16 per cent higher. The drop in despatches to dealers was on account of shortage in semiconductors.
The Hospitality sector isn't showing any sign of recovery. The sector is nowhere near the growth it saw between 2004 and 2008.
'Markets are factoring in a good show by India Inc in Q2.'
The Reserve Bank of India on Friday raised the retail inflation target for the current financial year to 5.7 per cent on the back of rising global prices amidst the ongoing geo-political tensions, even as it expected the prices of cereals and pulses to soften on prospects of good winter crop harvest. "Global food prices along with metal prices have hardened significantly. "Economy is grappling with a sharp rise in inflation... Inflation is now projected at 5.7 per cent in 2022-23 with Q1 at 6.3 per cent; Q2 at 5 per cent; Q3 at 5.4 per cent and Q4 at 5.1 per cent," RBI Governor Shaktikanta Das said while unveiling the first monetary policy review for the current fiscal year.
The country's third largest software firm said on Thursday that it will demerge non-IT businesses like Consumer Care & Lighting into a new company, a move which will allow it to focus exclusively on information technology.
India's biggest carmaker, Maruti Udyog has posted an impressive 48 per cent rise in net profit for the second quarter this fiscal as vehicle sales drove up on the back of low interest rates.
Satyam Computer Services has reported a 32.4% in consolidated net profit at Rs 176.86 crore
RIL reported its fourth consecutive drop in quarterly net profit, hurt by weak demand and lower natural gas output, but sequentially its earnings rebounded.
Its total income during the September quarter also slipped to Rs 30,191 crore, as against Rs 32,435 crore in the year-ago period
Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year.
This flight of capital began in early August due to risk-aversion created first by rising geopolitical tensions due to North Korean aggression and second by the US Fed's decision to shrink its balance sheet
The central government is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said in its India Development Update on Tuesday. High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel. Notwithstanding an increase in spending due to expanded fertilizer subsidies and food subsidies for vulnerable households in response to the commodity price shock, the government is on track to meet its FY22/23 fiscal deficit target of 6.4 per cent of GDP and the general government deficit is projected to decline to 9.6 per cent from 10.3 per cent in FY21/22 and 13.3 per cent in FY20/21.
This is the third consecutive profitable quarter for SpiceJet.
Factors that can push growth include softer interest rates, increased banking sector liquidity, higher rural consumption, salary hikes for state government employees and greater traction in public capex
BSES Ltd has posted a 133.94 per cent rise in its net profit at Rs 88.83 crore for the quarter ended September 30, 2003 as against Rs 37.90 crore in the corresponding period of previous year.
The country's largest lender State Bank of India on Friday recorded a 99.6 per cent dip in consolidated net profit at Rs 20.7 crore for the September quarter on account of a 3-fold jump in bad loan provisioning.
Fund inflows jumped over 77 per cent in the second quarter of 2021 to $7.55 billion compared to $4.26 billion in the first quarter, according to the data collated by Refinitiv, the London Stock Exchange Group's financial markets data and insights arm. However, volume growth was a tepid 8.8 per cent in Q2 at 296 transactions up from 272 in Q1, totalling the counts in the first half to 568, against 365 transaction in the year-ago period. Total inflows in the first half of 2020 were $5.43 billion across 365 deals, while in the first quarter these were $3.92 billion across 183 deals and the second quarter at $1.51 billion across 182 deals, according to Refinitiv.
After navigating the turbulent pandemic waves, the recovering Indian economy is now sailing through unchartered waters of rising coronavirus cases, spiralling commodity prices and spiking inflation though the lighthouse of sustainable growth remains visible. As 2022 begins, a raft of developments, ranging from Budgetary announcements to continuation of stimulus measures to monetary policy, will set the tone for the domestic economy, which is projected to grow more than 9 per cent in the current fiscal ending March 2022. The country's continuing massive vaccination drive and 'precaution' doses starting for select categories of people this month will provide a firewall against any steep spike in coronavirus cases amid the emergence of the Omicron variant.
Pharma major Wockhardt Ltd has posted a 13.3 per cent increase in net profit at Rs 34.9 crore (Rs 349 million) for the second quarter ended June 30, 2003 as against Rs 30.8 crore (Rs 308 million) for the corresponding quarter last fiscal.
However, revenue was higher at Rs 81,651 crore
The IT major had reported a net profit of Rs 3,398 crore in the year-ago period, it said in a BSE filing.
Indian economy is expected to grow between 7 and 7.4 per cent in the three months up to September 2008, as against 9.3 per cent in the year-ago quarter, five top economists of the country told Business Standard. The government is slated to release the quarterly numbers on Friday.
Credit card spends jumped 57 per cent year-on-year (YoY) in September, aided by the festive season. According to the latest Reserve Bank of India (RBI) data, in September, credit card spends totalled Rs 80,477.18 crore compared to Rs 77,981 crore in August, thereby registering a 3.2 per cent growth sequentially, despite the high base. In the corresponding period last year, credit card spend was to the tune of Rs 51,356.68 crore.
Red Bull's double World champion Max Verstappen swept to pole position at the Mexico City Grand Prix on Saturday with his sights set on a record 14th victory of the season.
Nokia India on Thursday announced to roll out Android-based smart phone 'X', with a price tag of Rs 8,599.
Sales of 137 firms up 29.7%, but operating margins dip.
If economic growth does not accelerate soon, lower profits and the expectations that accompany them will further deter private investment.
IT services firm Cognizant on Wednesday posted 12.9 per cent increase in net profit to $420.1 million for the second quarter this year, revising revenue growth guidance to 20.1 per cent for the fiscal.
The company's decision may impact new projects, which are likely to get delayed, said sources in the know. Among the IT players that work with Macy's are Accenture, Cognizant, Tata Consultancy Services (TCS), and Infosys. Macy's is among the top 5-10 clients of these companies.
Pipped by Honda's Rubens Barrichello in the last corner, Force India's Giancarlo Fisichella will start 17th in the Malaysian Grand Prix after yet again coming tantalisingly close to making the cut for the second qualifying session in Sepang on Saturday. Fellow Force India driver Adrian Sutil will start 21st. Ferrari occupied the front row of the grid with Felipe Massa grabbing the pole just ahead of team mate Kimi Raikkonen.
The life insurer tinkered with its business strategy - raised the share of protection plans and reduced dependency on ULIPs in the past four years.
At home, passenger and commercial vehicle sales have suffered from an environment of high interest rates and fuel prices in an economy growing at its slowest pace in a decade.
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
The operating environment is unpredictable, but if the bank can't give a clear picture of what's in store, calling the bottoming out of its asset quality stress is nearly impossible.
Charles Leclerc put Ferrari on pole position for Formula One's season-opening Bahrain Grand Prix
Second-quarter corporate results show a significant slowdown in sales and profit growth.
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