CATEGORIES

Bajaj Finance Q2 profit jumps 13% on rising NII

Non-banking financial company Bajaj Finance reported 13 per cent year-on-year (Y-o-Y) growth in its consolidated net profit to ₹4,014 crore in the July-September quarter (Q2FY25), helped by healthy growth in net interest income (NII). NII for consolidated books expanded by 23 per cent (Y-o-Y) to ₹8,838 crore, up from ₹7,196 crore in the same period of the previous year (Q2FY24).

Irdai nudging more firms to list: Chairman

The Insurance Regulatory and Development Authority of India (Irdai) is engaging with select insurers it believes should pursue public listing, Chairman Debasish Panda said on Tuesday. Irdai is also encouraging others that have reached a certain size and maturity to do the same, as public listing enhances transparency and creates more value for policyholders and investors.

Allianz looks to exit Bajaj's insurance JVs

Its stake in both firms is estimated at ₹30K cr

StanC to double down on SME, affluent segments

Retail banking is \"core\" to UK-based Standard Chartered Bank's strategy in India as it is looking to double down on small and medium enterprises (SMEs), affluent, and wealth banking segments, according to the bank's senior management. This comes after the bank, last week, sold its personal loan portfolio of over ₹4,100 crore to Kotak Mahindra Bank.

RBI to meet pvt banks next mth on governance

This will be 2nd meeting of its kind

Skilling gap a challenge for India: FM

India faces a significant challenge skilling its vast young workforce to meet the requirements of the job market, Finance Minister Nirmala Sitharaman said at an event hosted by The Economic Club of New York on Monday.

IMF retains India's FY25 growth forecast at 7%

Highlights stable global growth amid shifting economic dynamics

‘Before announcing a big programme, govt should test it’

IQBAL DHALIWAL is global executive director of J-PAL (Abdul Latif Jameel Poverty Action Lab), the anti-poverty centre at the economics department of Massachusetts Institute of Technology that was founded in 2003 by Nobel laureates Abhijit Banerjee and Esther Duflo. Banerjee and Duflo pioneered Randomised Controlled Trials (RCTs) used to test the effectiveness of a particular intervention to determine whether a change causes a specific effect. During his recent visit to attend the Kautilya Economic Conclave in New Delhi, Dhaliwal told Asit Ranjan Mishra in an interview about evidence-based policymaking in India, and universal basic income, among other things. Edited excerpts:

India's exports to 8 of top 10 mkts grow in H1

Netherlands, US, UK see positive growth despite muted global demand

Qcom firms get CCPA notices

The Central Consumer Protection Authority (CCPA) has issued notices to several quick commerce (qcom) companies for failing to comply with mandatory product disclosure requirements, a top official said on Tuesday.

Adani Energy net rises 2x to ₹674.9 crore

Adani Energy Solutions (AESL) on Tuesday reported 145 per cent year-on-year jump in its consolidated net profit to ₹674.96 crore (attributable to the owners of the company) for the second quarter of financial year 2025 (Q2FY25), on the back of higher revenue generation, and deferred tax reversals.

Nestlé India CMD sees mega cities as pressure points

Nestlé India on Tuesday joined other FMCG majors in declaring that food inflation was hitting urban areas the worst while the demand was recovering in rural swathes, as it reported a one per cent year-on-year dip in its consolidated net profit for the second quarter of financial year 2024-25.

Adani Green profit up 38%

Adani Green Energy Ltd reported a 38 per cent increase in second-quarter profit, following rising power sales and an installation expansion.

‘Paytm will solve concentration risk’

One97 Communications, which operates fintech firm Paytm, on Tuesday announced a consolidated profit of ₹928.3 crore in Q2FY25, compared to a loss of ₹290.5 crore a year ago, on the back of selling its movie ticketing and events business.

Varun Beverages net up 22% to ₹629 crore

Varun Beverages Ltd (VBL), PepsiCo's largest franchise bottler, on Tuesday reported 22.33 per cent rise in consolidated net profit at ₹628.82 crore for September quarter driven by volume growth and improved margins.

Royal Enfield announces 1st assembly unit in Bangladesh

Indian motorcycle maker Royal Enfield on Tuesday announced starting a manufacturing unit and a showroom in Bangladesh, marking a major industrial development in the neighbouring country where the former prime minister Sheikh Hasina fled in August after weeks-long protests against her.

Zomato PAT soars 5x; to raise ₹8.5K crore

Board of directors gives nod to raise funds via QIP

Ambuja to buy Orient Cement in ₹8.1K cr deal

In its 3rd major acquisition in FY25, Adani firm to purchase 46.8% stake

Microfinance SRO makes a pitch for 4% cap on RoA

Following a regulatory crackdown on four non-banking financial companies (NBFCs), including two microfinance institutions, for charging \"usurious\" interest rates, a self-regulatory organisation (SRO) has asked its members to limit their return on assets (RoA) to 4 per cent.

Mega project builders in J&K assess risks, but no immediate alarm

Terrorist attacks in Jammu and Kashmir (J&K) over the past 35 years have been non-discriminatory, but of late targeting vital infrastructure projects has evolved into a pattern. However, contractors of major ongoing projects in J&K don't see cause for alarm just yet.

OF SHIPS AND TANKERS

Contrary to reports, India and Indian refiners are not breaking any international sanction laws

PhonePe cuts FY24 losses to ₹1,996 cr

Fintech major PhonePe trimmed its losses to ₹1,996 crore in 2023-24 (FY24), a substantial decrease from a loss of ₹2,792 crore it posted in FY23.

CoinSwitch: WazirX moved $73 mn crypto after data breach

Embattled crypto exchange WazirX cumulatively moved over $73 million worth of crypto to exchanges such as Bybit and Kucoin following a security breach on the platform, which led to a theft of $230 million, a senior executive from CoinSwitch, a rival crypto company, alleged on Monday.

Nifty Microcap 250 stocks shine amid October volatility

October has so far been volatile for the Indian stock market amid the ongoing geopolitical crises in West Asia and the European region.

Lower production cost may support HZL margins

During the September quarter (Q2FY25), Hindustan Zinc's (HZL's) revenue was reported at ₹8,300 crore (up 22 per cent year-on-year or Y-o-Y, and 2 per cent quarter-on-quarter or Q-o-Q), marginally above consensus.

Samvat 2081: Gold's glitter, silver's sparkle may remain undimmed

Geopolitical tensions likely to support bullion; analysts recommend investors hedge portfolios with precious metals

Mkts fall on unabated foreign fund outflow

Erasing initial gains, benchmark indices Sensex and Nifty closed lower on Monday due to a sharp fall in Kotak Mahindra Bank and relentless foreign fund outflows.

India, China reach pact on border patrolling

India's top diplomat, Foreign Secretary Vikram Misri, revealed on Monday that India and China had reached an arrangement for patrolling by both sides along the Line of Actual Control (LAC) in Eastern Ladakh.

In the making: A Ratan Tata Building by Tata group and Oxford University

The Tata group and Somerville College, University of Oxford, are partnering to build the Ratan Tata Building to honour late Ratan Tata. The construction is set to commence in Spring 2025.

A dealmaker's odyssey

In 1983, while pursuing a bachelor's degree in Mathematics from St. Stephens College, Delhi, the author of The Money Trap receives career advice from a friend of his father who taught statistics at Wharton. The latter suggests he should do an MBA in Finance. \"Americans are scared of maths, we (Indians) are good at it,\" is his pitch. Alok Sama, whose ambition then is to solve Fermat's last theorem, accepts his counsel and flees the India of Licence Permit Raj and shortages.