Rajiv Jain‘s GQG Partners has raised its stake in Adani Group-owned Ambuja Cements by 70 bps to 2.05% in the September quarter. In the three-month period that ended on June 30, 2024, Jain’s GQG Partners Emerging Markets Equity Fund held 1.35% stake in the cement manufacturer. The 2.05% stake in Ambuja represents over 50 lakh … Read more
NEW DELHI: ICICI Bank on Saturday reported a six-fold jump in its net profit at Rs 4,251 crore for the September quarter. The private lender had reported a profit of Rs 655 crore in the year ago quarter. Net interest income (NII), which is the difference between the interest income a bank earns from its … Read more
NEW DELHI: ICICI Bank is expected to report a multi-fold rise in net profit for the September quarter, even as net interest income (NII) for the private lender may see a marginal dip on year-on-year basis. Updates on incremental Covid-related provisions, collection efficiency, BB and below-rated book and restructuring would be keenly followed, analysts said. … Read more
Mumbai: Telecom major Vodafone Idea is likely to narrow its losses in the September quarter from the record loss it reported in the year ago period. Revenues may, however, not see material upside as the company has been losing subscribers rapidly. Even though it has lost the subscriber base, it may still see some improvement … Read more
NEW DELHI: EPC major Larsen & Toubro on Wednesday said its consolidated net profit fell 44.73 per cent year-on-year (YoY) to Rs 1,410.29 crore for the September quarter compared with Rs 2,551.67 crore in the same quarter last year. Analysts in an ET NOW poll has projected a net profit of Rs 1,344 crore for … Read more
The management has said that performance in the coming quarter and demand for the festival will continue to depend on the pandemic situation. Synopsis While a robust liquidity situation and resilient business model will keep the stock’s downside, the upside, too, seems to be capped in the near term given the slow business momentum. ET … Read more
NEW DELHI: HDFC Bank‘s asset quality was strong at the end of September quarter. The private lender made lesser provisions for the quarter compared with June quarter and beat Street estimates on the bottom line front. A pre-provision profit growth of 18 per cent was healthy; so were growth in deposits and advances. Here are … Read more