State-owned Bank of India on Friday reported a 176% jump in net profit for the June quarter at Rs 1,551 crore as compared with Rs 561 crore in the year ago period, backed by both core and non-core business growth, and a fall in bad loan provisions. The bank’s net interest margin for the quarter … Read more
State-owned Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent. Currently, Government of India holds 81.41 per cent stake in the Mumbai-based bank. “We are exploring options to meet Sebi’s minimum public holding requirement. However, the … Read more
The Rs 300-crore India Microfinance Equity Fund (IMEF), which the Small Industries Development Bank of India (Sidbi) re-launched in November last year, does not seem to have many takers yet even as the small and medium sized microfinance lenders are longing for institutional funding support. Several NBFC-MFIs found the clauses attached for taking the funding … Read more
“As far as our net profits are concerned, we had a net profit of Rs 4023 crores to be exact. This is for the first time in the history of Bank of India, the annualised profit has touched Rs 4023 crores as against the backdrop of Rs 3405 crores as on March 2022,” says Rajneesh … Read more
Total 877 foreign companies have ceased their ‘place of business’ in India between 2014 to November 2021. The Ministry of Corporate Affairs in a written reply in Rajya Sabha on Tuesday said that Ford and Harley Davidson have not closed their place of business in India. “Information about ‘ceasing of operations’ is not maintained by … Read more
The Indian market opened higher on Wednesday. The Nifty 50 index rose 103 points or 0.60% to 17,407, while the S&P BSE Sensex surged 346 points or 0.59% to 59,308, as of 9.22 am. The markets closed in the red for the eighth consecutive day in a row on Tuesday and the global setup suggests … Read more
“It has been a difficult market. We have raised more cash. We are sitting at about probably 7% cash. And so what we have done is basically lowered down some of the cyclical sectors, global sectors that is metals,” says Chakri Lokapriya, CIO & MD, TCG AMC.It is a market which is giving everybody a … Read more
“The foremost headwind is going to emerge from the asset allocation decision of the global money managers. With fixed income offering lucrative yields we anticipate movement of funds from Equities to Fixed Income,” says Niraj Kumar, Chief Investment Officer, Future Generali India Life Insurance Company Ltd. In an interview with ETMarkets, Kumar said: “While we … Read more
Ahead of the Reserve ‘s monetary policy decision tomorrow and commentary from Federal Reserve Chair Jerome Powell tonight, Indian equity indices apparently struggled for direction before closing in the red for a second straight day on Tuesday, dragged by IT, auto and metal stocks. The BSE Sensex index ended 215 points or 0.36% lower at … Read more
Chennai: With the retail inflation down, if the Reserve Bank of India‘s (RBI) Monetary Policy Committee (MPC) pause on the policy rate hike or increase it by 25 basis points to 6.50 per cent will be known on February 8. The RBI’s MPC will be meeting on February 6-8 to decide on the rates. “Inflation … Read more