Booking Financial News

Axis Bank share price gained over a percent on Thursday after the private sector lender reported stable performance in the fiscal first quarter ended June 2023. Axis Bank shares rose as much as to ₹apiece on the BSE. The private lender reported a 41% year-on-year (y-o-y) increase in net profit for Q1FY24, driven by higher net interest income and fee income.

By Davide Barbuscia and David Randall

Gold rate today: Despite US Fed rate hike by 25 bps in the monetary policy meeting held on Wednesday, gold price today continue to ascend. In international market, yellow metal price went up over 0.30 per cent and hit $1,977 per ounce levels in earning morning deals in Asian stock market.

₹947 per share, 89.4 percent higher than the issue price, and on the BSE, the Netweb Technologies shares were listed at ₹942.50 per share. Netweb Technologies IPO opened for subscription on Monday, July 17, and ended on Wednesday, July 19. The company has fixed the price band at ₹475 to ₹500 per equity share for the proposed initial public offer.

The federal government is requiring that more new planes have lavatories big enough for wheelchair users

A judge is weighing whether to revoke Sam Bankman-Fried’s bail

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Pankaj Murarka, Founder, Renaissance Investment, says “the rise in stock prices across smallcap indices has been pretty sharp over the last few months and it is not a bad idea to reallocate some money from smallcaps to largecaps so as to reduce the risk of the portfolio because all of us know that when markets rise, smallcaps rise much more or much higher than largecaps. But when markets correct, smallcaps also fall much more sharply than largecaps.”How do you see the outperformance of the broader markets? Do you believe that the bull run of 2020 or 2021 post Covid is back once again with the same feel and how do you spot the broader market space?Also, is this the right time to book profits or should one stay invested?There are multiple questions in your one question. So let me address them one by one.

RBL Bank. M&M said Wednesday it already owns 3.5% of the lender, a stake the conglomerate bought in secondary market transactions. The entire deal, when completed, will make M&M the biggest stakeholder in RBL Bank along with investment fund Maple.

By Nate Raymond and David Shepardson

By Luc Cohen and Jonathan Stempel

earnings that saw its order book surpass ₹4 lakh crore for the first time ever. Separately, the company announced a special dividend and a ₹10,000 crore share buyback, prompting analysts to raise their price targets on the stock. Shares of the engineering and construction conglomerate touched a record high of ₹2,673.85 before closing at ₹2,652 on the NSE, up 3.56% from the previous close.

Netweb Technologies IPO: Listing date for the initial public offering (IPO) has been fixed on 27th July 2023 i.e. today.

Bajaj Finance, India's largest non-bank consumer financier, said net profit increased 32% year-on-year to ₹3,437 crore in the quarter ended June 2023 from ₹2,596 crore a year ago due to strong loan growth. Total assets under management (AUM) increased 32% to ₹2.70 lakh crore led by the highest ever quarterly increase in AUM of ₹22,718 crore during the quarter. AUM increased on the back of strong loan growth across businesses, led by two- and three-wheeler finance (48%), commercial lending and loan against securities 50% each and SME lending which increased 36%.

MUMBAI : Mahindra and Mahindra (M&M) Ltd has evinced interest in acquiring as much as a 9.9% stake in private bank RBL Bank Ltd, after picking up a 3.53% stake in the latter a week ago. “We may consider further investment subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9%," said the Mahindra group in a regulatory filing on Wednesday evening while commenting on the stake acquisition in RBL Bank, which has recently expressed its new strategy to shift from bulk to granular deposits model to expand the bank’s margins beyond 5%.

₹3,437 crore for the three months ended June, owing to higher net interest income. Net interest income (NII) rose 26% to ₹8,398 crore in the June quarter, from ₹6,640 crore a year earlier. Bajaj Finance said it recorded highest-ever quarterly growth in assets under management of ₹ 22,718 crore last quarter and expects AUM growth to be 29-31% in FY24.

MUMBAI : The integration of the IDBI Mutual Fund schemes with those of LIC MF could push up the ranking of the latter by a notch to 22 after the transfer concludes on 29 July, said a top official of LIC MF. The ranking is by assets under management (AUM). “We should get around ₹3,700 crore of AUM from IDBI MF, which when added to our AUM of upwards of ₹18,400 crore, gives a combined AUM of around ₹22,200 crore, which is dynamic depending on the market movement," said T.

MUMBAI : Private sector lender Axis bank reported a 41% year-on-year (y-o-y) increase in net profit for the first quarter of the current fiscal, driven by higher net interest income and fee income. Net profit stood at ₹5,797 crore in the three months through June, compared to ₹4,125 crore during the corresponding period last year. The bank’s profit missed analyst estimates.

By Tatiana Bautzer and Pete Schroeder

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₹32,718 crore, aided by improved execution across segments. Further, order inflows from this segment jumped 80% y-o-y to almost ₹50,400 crore buoyed by the Mumbai Ahmedabad High Speed Rail project contract. This went a long way in driving consolidated order inflows, which also got a boost from large orders in the infrastructure and hydrocarbon segments.