Reliance Retail could be worth Rs 3.75 lakh crore, or half of RIL’s mcap

Reliance Retail (RR), India’s largest retailer by revenue and network, has been on an upward trajectory over the years. Going forward, this vertical, along with Jio (the cellular telecommunications arm), is expected to contribute meaningfully and substantially towards Reliance Industries’ overall growth and re-rating. In the quarter gone by, RR’s revenue growth was attributable to […]

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LIC to have 5 representatives on IDBI Bank board

Following the completion of the acquisition of 51 per cent controlling stake by the Life Insurance Corporation of India (LIC) in IDBI Bank, the life insurance behemoth will have five representatives on the bank’s board, while the government will have two. Further, to ensure continuity at the top, LIC will persist with the bank’s present […]

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HUDCO gains 10% post strong Q3 numbers

Share price of Housing & Urban Development Corporation (HUDCO) gained 10.6 percent intraday Monday after company reported strong set of numbers for the quarter ended December 2018. The company’s Q3FY19 net profit was up 27 percent at Rs 328 crore against Rs 259 crore in the same quarter last fiscal. Revenue of the company rose […]

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Kotak Mahindra Bank Q3 profit jumps 23 percent to Rs 1,291 crore; asset quality improves

Kotak Mahindra Bank, on Monday, reported a jump of 23 percent year-on-year in its net profit for December quarter at Rs 1,291 crore. The lender had posted a profit of Rs 1,053 crore during the same quarter of last year. The net interest income (NII), the difference between interest earned and expended, grew 23 percent […]

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L&T falls 3% as SEBI rejects Rs 9,000-crore buyback issue

Shares of Larsen & Toubro declined by over 3 percent in morning trade as investors reacted to Sebi denying permission for its buyback issue. The engineering major on January 19 said market regulator Sebi denied permission for its Rs 9,000 crore share buyback offer. In a regulatory filing to stock exchanges, L&T said the Securities […]

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HDFC Bank Q3 profit could rise 20%; asset quality could be stable

HDFC Bank is likely to continue to report over 20 percent growth in profit as well as net interest income year-on-year (YoY) with stable asset quality and a slight increase in provisioning due to IL&FS quarter-on-quarter (QoQ), analysts said. “Bank should continue to deliver stable 20 percent YoY earnings growth on stable margins and loan […]

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Oil Hits Two-Month High as China Truce Signals Brighter Outlook

Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy. Futures climbed 3.3 percent in New York to cap the third straight weekly increase. Bloomberg News reported China proposed a six-year shopping binge for American goods, diminishing concerns about […]

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Wipro Q3 profit beats estimates, revenue growth in line

Wipro Ltd cheered investors on Friday by announcing a bonus of one free share for every three they hold after posting fiscal third-quarter (Q3 2018-19) revenue growth that was in line with analysts’ estimates. However, a soft revenue outlook for the March quarter (Q4 2018-19), with the company expecting, at best, 2% growth in constant […]

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Adani enters petchem with ?16,000 crore project in Gujarat

BASF SE, the world’s largest chemical producer, will set up a petrochemical production hub at a cost of ?16,000 crore in Gujarat in a joint venture (JV) with Ahmedabad-based Adani Group, the two companies said after signing a memorandum of understanding on Thursday. The German company will hold the majority in the joint venture, which […]

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Sun Pharma shares slump to six-year low on report of fresh allegations by whistleblower

Shares of Sun Pharmaceutical Industries Ltd slumped over 13% today to near six-year low, after a media report of a complaint by a whistleblower raised fresh concerns on the drugmaker’s corporate governance. The complaint, sent to the capital market regulator Securities and Exchange Board of India (Sebi), is the second in over a month, according […]

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