AXY Financial News

HDFC Bank's Managing Director and Chief Executive, has emerged as the highest-paid bank chief executive in FY23, with a significant increase of more than 62% in his remuneration in fiscal year 2023, reaching ₹10.55 crore, the PTI reported. Jagdishan's colleague Kaizad Bharucha, the deputy managing director of India’s largest private sector bank by assets and world's fourth largest bank by market capitalisation as of July 2023, drew ₹10.03 crore for the fiscal year and emerged as likely to be the second-highest grossing banker in the country, according to according to the bank's annual report for FY23.

«A lot of pharma stocks have given a breakout this week. Lupin is looking very attractive. The action we have witnessed clearly indicates that further upside is likely in the coming week.

The post office time deposit is similar to bank fixed deposits. You invest money at a fixed interest rate for a definite period and earn a pre-determined return.

Vidarbha Industries Power has petitioned the Bombay High Court objecting to a decision by its lenders to auction the company's debt, court documents show. Banks led by Axis Bank have scheduled a Swiss Challenge auction to sell principal debt of ₹2,569 crore and $27.7 million in overseas currency loans of the distressed power company on August 8. Last month, lenders rejected a ₹1,260-crore one-time settlement the promoter offered and chose CFM Asset Reconstruction Company's ₹1,220 crore offer as an anchor bid for the Swiss auction.

capital market regulator’s approval for the launch of IPO in July. Read here: TVS Supply Chain Solutions gets Sebi's nod for IPO launch.

The retail portion of the IPO was subscribed 3.67 times and the NII category was booked 7.7 times. The part reserved for qualified institutional buyers (QIB) was subscribed just 52% so far. According to market sources, the company's shares are commanding a premium of 38% in the unlisted market.

Varun Beverages with a target price of Rs 920. The current market price of Varun Beverages is Rs 837.05.

Minda Corporation, incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 6990.68 Crore) operating in Auto Ancillaries sector. Minda Corporation key Products/Revenue Segments include Other Auto Components, Other Operating Revenue, Scrap, Duty Drawback, Royalty Income and Job Work for the year ending 31-Mar-2023.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1076.44 Crore, down -.05 % from last quarter Total Income of Rs 1076.94 Crore and up 6.11 % from last year same quarter Total Income of Rs 1014.46 Crore.

Bankers say the cost of funds will continue to be on the rise for a few quarters till the entire deposit repricing cost is factored in. India's largest private lender HDFC Bank has seen the cost of funds rise nearly 100 basis points as compared with last year. For the lender, the cost of funds stood at 4% at the end of the June quarter versus 3.1% in the same period last year.

NCLAT) is reviewing an order by a lower court that had dismissed a plea by the Central Bank of India to commence bankruptcy proceedings against Kolkata-based Simplex Infrastructures. The appellate tribunal has admitted that the Kolkata bench of the NCLT erred in relying on the judgment of Vidarbha Industries Power versus Axis Bank to dismiss the lender's plea against the company.

Naveen Kulkarni, CIO, Axis Securities, says “the exceptional losses in Bharti Airtel’s African business due to devaluation of the Nigerian currency was not completely unexpected as analysts were expecting something on the lines that there will be a significant impact on their transnational effect on the Africa revenues.”What is your first take on Bharti Airtel numbers? There has been an exceptional loss on the back of Nigerian currency devaluation. Were the analysts factoring in this sort of an exceptional loss and what is your first take on the numbers?The exceptional part, of course. is a difficult aspect to model but more or less I would say that we were expecting something on these lines that there will be a significant impact on their transnational effect on the Africa revenues.

Marico with a target price of Rs 610. The current market price of Marico is Rs 571.35.

Poonawalla Fincorp with a target price of Rs 450. The current market price of Poonawalla Fincorp is Rs 412.75.

India VIX was up by 9.70% from 10.25 to 11.27 levels on Wednesday. Volatility spiked during the day, that gave comfort to the bears as they made their way.

SBFC Finance raised ₹304.43 crore from anchor investors on Wednesday ahead of its initial public offering that will open for public subscription on Thursday. The company has allocated 53.4 million shares at ₹57 apiece to 37 anchor investors.

The focus is on building new alternative and lateral connectivity to the strategic Sub Sector North (SSN) besides considerable realignment works around the Durbuk-Shyok- Daulat Beg Oldie road segment, ET gathers. Most of these proposed single-lane roads will traverse into the Changthang cold desert sanctuary and require green clearances.

Bharti Airtel is projected to post strong results for the first quarter, compared with the same period a year ago. However, sequential earnings growth may be limited, impacted by foreign exchange losses and increased taxes. During the quarter, revenue from operations is expected to grow by an industry-leading 11% year-on-year, according to an average estimate from six analysts.

I am 30 years old and I have been investing into mutual funds for the past four years. I have SIPs in the following funds since the last three years. I am little unsure about Axis schemes and large cap funds after seeing their underperformance via-a-vis index fundsAxis Bluechip FundAxis Focused 25 FundDSP Midcap FundUTI Flexi cap Fund My goal is to buy a house in 10-15 years. Also, to build a retirement corpus. I am okay with market fluctuations but I am just a little worried that the selected funds aren't performing as good as the market has in the past couple of years. Also, I keep reading about rebalancing. Can you please explain how and when a person needs to decide to change the schemes. --Vivek Pandey We looked at the performance of your schemes in the last three years.

Fitch Ratings downgrade: Could a cut in US rating mean higher inflows to India, other EMs? MCX Gold for October delivery traded 0.26 per cent higher at ₹59,544 per 10 grams around 10:10 am. Gold prices may trade with gains today, taking support from the dollar's weakness after the Fitch downgrade. Ravindra V.

Day trading guide for today: Domestic equity benchmarks Sensex and Nifty ended lower during Tuesday’s session on profit-booking select heavyweights, including Reliance Industries, Power Grid, State Bank of India, and ICICI Bank amid mixed global cues. Sensex remained volatile throughout the session and closed 68 points, or 0.10 per cent, lower at 66,459.31 while Nifty closed the day with a loss of 20 points, or 0.10 per cent, at 19,733.55. The BSE Midcpap index underperformed the benchmark Sensex, falling 0.23 per cent.

I am currently drawing a net monthly salary of ₹69,000. Out of this, I am paying an equated monthly instalment of ₹10,000 for a car loan. Besides, I am investing ₹8,000 in 4 Systematic Investment Plans (SIPs), with ₹2,000 each in Axis Bluechip, Parag Parikh Flexi Cap, ICICI Hybrid Fund, and Canara Robeco Emerging Equities. I am also allocating ₹4,000 for a gold scheme. I am now planning to add another ₹2,000 SIP in Mirae Asset Large Cap and want to invest an additional ₹2,000 in SIPs. Is this fine? Also, is the National Pension System (NPS) beneficial for me? —Kumaran R.