“When we look at their growth and add it up, I believe consumer demand is still growing. Consumption patterns are shifting—some categories are mature, while others are emerging. This growth is fueled by aspirational India, and as investors, we need to identify those emerging categories and opportunities,” says Nilesh Shah, Envision Capital. ET Now: It … Read more
IDFC First Bank reported a 73% drop in its September quarter standalone net profit at Rs 201 crore versus Rs 751 crore reported by it in the year ago period. However, the Net Interest Income (NII) grew 21% to Rs 4,788 crore in Q2FY25 versus Rs 3,950 crore in the year ago period. The earnings … Read more
BSE Midcap index has produced 12 gems since last Diwali, each delivering multibagger returns with 26 others yielding double-digit returns of 50% or more. There are 19 duds as well in the pack of 192 stocks which have fallen by up to 50% during this period. The 12 multibaggers are Indian Renewable Energy Development Agency … Read more
UBS bought over 81 lakh shares in IDFC Limited on Wednesday for Rs 88 crore through UBS Principal Capital Asia Limited via a block deal. The shares were purchased at a price of Rs 107.92 apiece. IDFC Limited shares will be suspended from trading with effect from Thursday, October 10 which is the record date … Read more
After a brief swing to the deficit mode, liquidity in the banking system returned to a surplus this week, with analysts interpreting the Reserve Bank of India’s tolerance of extra cash with banks as a tilt towards easier policy ahead of the official interest rate statement next month. For seven days in September, the RBI … Read more
Markets experienced a volatile session on Wednesday but managed to extend their upward trend, with a sharp rally in the fag-end. In today’s trade, shares of SpiceJet, Puravankara, ASK Automotive, Adani Green, Vedanta among others will be in focus due to various news developments. SpiceJetSociete Generale sold shares worth Rs 47 crore in SpiceJet through … Read more
V Vaidyanathan, MD & CEO, IDFC First Bank, says massive floods in Tamil Nadu five or six months ago disturbed the joint liability group (JLG) portfolio. IDFC First has taken extra provisions on that book because people at the bottom of the pyramid suffer during a calamity as it affects their earnings and hence the … Read more
State insurer Life Insurance Corporation of India (LIC) has increased its shareholding in IDFC First Bank to 2.68% acquiring the lender’s shares at a price of Rs 80.63 apiece. The total cost of acquisition is Rs 1,500 crore. The number of shares have been raised from 1.42 crore to 20 crore on a preferential basis, … Read more
Technical charts suggest the short-term trend of Nifty is likely to be range-bound with a weak bias. A move below the immediate support of 23,250 could indicate the beginning of a shortterm downward correction, according to technical analysts. For short-term trading, analysts recommend stocks such as SBI, IDFC First Bank, Granules, Infosys, HCL Tech, M&M … Read more
The Reserve Bank of India‘s income rose 17 percent last fiscal on higher interest income from bond holdings, but it was the sharp drop in provisions transferred to the Contingency Fund that helped it pay a record Rs. 2.1 lakh crore in dividend to the central government. An amount of ₹42,819.91 crore was provided towards … Read more