Booking Financial News

₹530.93 crore for the first quarter of FY24, from ₹262 crore a year ago, on the back of steady growth in net interest margins. The company’s revenue from operations increased 7.86% to ₹3,223.3 crore in the June quarter of FY24, from ₹2,988.4 crore in Q1 FY23. “We have achieved retailization of 82% in Q1 FY24 itself, much ahead of the Lakshya 2026 goal of greater than 80% retailization.

Investing.com — Goldman Sachs (NYSE:GS) has reported worse-than-expected second quarter earnings per share, as the banking giant was hit by one-off charges related to its home improvement lending group GreenSky and losses on its consumer and real estate loan portfolios.

₹6,000-6,200 in this fiscal and the occupancy is expected to be at decadal highs. The RevPAR is expected to remain at a 20-25% discount to the FY08 peak. Consistent improvement in consumer sentiments despite the inflationary environment, stable corporate performance, and domestic air passenger traffic inching above pre-covid levels augur well for travel and hotel demand.

L&T Finance Holdings Ltd. reported a significant increase in its Profit After Tax (PAT) for Q1FY24, reaching Rs.

Oscar winner Jamie Lee Curtis also has a busy career as a children’s author

Netflix has officially renewed the series for an eighth season. Since its debut in October 2018, «Elite» has captivated audiences worldwide with its compelling storyline centered around the students of the prestigious Las Encinas. With production scheduled to begin in the Summer, viewers can expect the eighth season to hit Netflix screens sometime in 2024.

₹304.5 lakh crore from about ₹303 lakh crore in the previous session, making investors richer by about ₹1.5 lakh crore in a single session. In the last five sessions of gains, investors have gained about ₹2.9 lakh crore.

Ice Make Refrigeration Limited, a manufacturer of refrigeration equipment has bagged a contract worth Rs 65.48 crore from the West Bengal Livestock Development Corporation Limited (WBLDCL), a government-owned corporation focused on the development and promotion of livestock in West Bengal. Under this contract, Ice Make will be responsible for the Dairy Project, which includes the design, supply, installation, and commissioning of civil, mechanical, and electrical work for 1.0 LLPD (expected to expand to 1.5 LLPD) on a turnkey basis at Haringhata in West Bengal.Chandrakant Patel, CMD of Ice Make Refrigeration Limited, said in a statement, «Given the strong long-term growth opportunities, the outlook for our business moving forward is promising.

  Leslie D'Monte The Generative AI race just got hotter with Meta releasing the second version of its free open-source large language model, Llama 2, for research and commercial use, thus providing an alternative to the pricy proprietary LLMs sold by OpenAI like ChatGPT Plus and Google Bard while giving a boost to open source LLMs. Developers began flocking to LLaMA--Meta’s open-source LLM that was released in February (https://ai.meta.com/blog/large-language-model-llama-meta-ai/). Researchers made more than 100,000 requests for for Llama 1, according to Meta.

HDFC Securities underscored the Indian markets are doing well mainly driven by flows from FPIs and locals. Sectoral and stock rotation based on developments and relative comparisons, with profit booking postponed, has led to the broadening of the rally. However, Jasani believes Indian markets are not cheap in terms of valuations.

Jubilant Pharmova Ltd on Wednesday reported an 86.4% year-on-year fall in its consolidated net profit (attributable to owners of the company) for the fiscal's first quarter ended June (Q1FY24) to ₹6.4 crore. The company had reported a profit of ₹47.1 crore in the year-ago period. The company in Q4FY23 posted a net loss of ₹97.9 crore.  For the quarter ended June 30 (Q1FY24), consolidated revenue jumped 9.3% year-on-year to ₹1,587 crore from ₹1,451.7 crore in Q1FY23.

«It is pretty much normal because we are in the pre-expiry week when a lot of the stock options go into margin. From Friday onwards the margins start to apply. So, typically, there is a case for some profit booking that comes in, especially related to the option segment,» says Rohit Srivastava, Indiacharts.com.What is your sense, at one point of time it looked like we are going to race towards that 20,000 mark, but now a bit of a tempered move, a bit of a consolidation?It is pretty much normal because we are in the pre-expiry week when a lot of the stock options go into margin.

IPO Subscription Status: The initial public offering (IPO) of Netweb Technologies Ltd was subscribed 27.36 times on Day 3 so far. The public issue that opened for subscription on Monday, July 17, and will end on Wednesday, July 19. Non Institutional Investors(NIIS), employees, and qualified institutional buyers (QIBs) enthusiastically responded to the issue on the final day of subscription, followed by retail investors.

LLaMA -- Meta’s open-source LLM that was released in February. Researchers made more than 100,000 requests for for Llama 1, according to Meta. LLaMA requires “far less computing power and resources to test new approaches, validate others’ work, and explore new use cases", according to Meta.

₹1,443.35 apiece in the early trade Wednesday after the private sector lender posted decent earnings for the first quarter of FY24, with strong loan book growth and improvement in asset quality, leading to bullish views from analysts. IndusInd Bank reported a standalone net profit of ₹2,123.6 crore in Q1FY24, witnessing a growth of 32.5% from ₹1,603.29 crore in the same quarter last year. Net interest income (NII) increased 18% to ₹5,862.5 crore from ₹4,125.3 crore, YoY.

«One needs to watch out how Reliance integrates the financial service arm with the retail and telecom business to procure supply chain discounting or merchant vendor discounting or consumer financing,» says Sushil Choksey, Director, Indus Equity Advisors.How much value unlocking do you see with this demerger for Reliance and its shareholders? There is going to be a significant amount of unlocking, would not you agree?Yes, it is certainly a very positive event for Reliance shareholders because not only 6.1% Reliance treasury shares are being transferred here and that in today's market value at closing price is Rs 1,14,000 crores approximately plus Rs 28,000 crores of net worth which is currently owned and all the related financial service or insurance and all the license and maybe the payment bank is part of this entity. So, one needs to watch out how Reliance integrates the financial service arm with the retail and telecom business to procure supply chain discounting or merchant vendor discounting or consumer financing.

FPIs as of now. “It is high time for India to get its due recognition among the global investor community, especially when it has the strongest outlook for growth among major economies, a stable currency, and a strong government and fiscal balance sheet, unlike many other EMs,” said Sheetal Malpani, Chief Investment Officer and Head of Equity at Tamohara Investment Advisors.Edited excerpts from an interview with ETMarkets:Although markets have hit record highs, India has still underperformed its EM and DM peers on a year-to-date (YTD) basis. Do you see scope for a trend reversal?India has covered a lot of underperformances versus the US market in the past 3 months.

Reliance Industries, HCL Technologies, and Asian Paints,  continued to contribute to the gains in the Sensex and Nifty index. Sensex had some volatility during the session as profit booking occurred occasionally at higher levels. In the medium to long term, experts are optimistic about the market, although they anticipate some consolidation in the near future due to the market's high valuation.

Tata Motors-owned Jaguar Land Rover (JLR) is set to announce its plans to build a flagship electric car battery plant in the UK, a source familiar with the matter said as reported by Reuters.  Tata had been choosing between a site in Somerset, southwest England, and one in Spain to supply a new range of electric Jaguar and Land Rover vehicles. Bloomberg was first to report on Tuesday that the factory was set to be announced this week.

IndusInd Bank, India's fifth-biggest private lender by value, on Tuesday reported a 30% rise in its June-quarter net profit at ₹2,124 crore on the back of strong business momentum.Analysts polled by Bloomberg had estimated net profit at ₹2,094.6 crore. For the corresponding period last year, the lender had posted profits of ₹1,631 crore. «The bank has begun executing its next 3-year plan starting Q1 focused on growth, granularity and governance.

Wipro and putting it back on the growth path “is still work in progress”, said chief executive Thierry Delaporte. In an interview with ET’s Sai Ishwarbharath and Surabhi Agarwal, he said Wipro is betting big on artificial intelligence. Edited excerpts:Q: While most IT companies have spoken about a tough demand situation, what explains Wipro guiding for a revenue decline in the current quarter as well? A: The current economy has driven a slowdown across industries–more pronounced in some industries like BFSI (banking and financial services), which is a third of our business, and in technology, which is another 12% or 13% of our business.