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Avenue Supermarts Ltd. 0.47 per cent to Rs 3868.00 in Tuesday's trade as of 01:02PM (IST) even as the benchmark Nifty ruled at 24024.35, 116.96 points. The scrip had closed at Rs 3886.35 in the previous session. The stock quoted a 52-week low of Rs 3645.65 and a high of Rs 5484.00. The company quoted a market-cap of Rs 251862.98 crore on the BSE.

«NIM has come down to 2.80%. However, I clarify again, our domestic NIM is at a healthy number of 3.14%. So, definitely there has been some impact with the rising cost of deposit. The NIM has been impacted and also yield on advances are flat, that is one of the basic reasons. And as regards the RBI circular on penal interest, so now we have to book under the penal charges,» says Rajneesh Karnatak, MD & CEO, Bank of India. Let us start off with your net interest margins here. Now, we saw 25 basis points fall when it comes to the NIMs in this quarter, but going forward your cost of deposits has been rising while the yield on advances has been declining. So, what is your outlook when it comes to the net interest margin considering these factors? Rajneesh Karnatak: As regards the NIM is concerned, our NIM we have shown at around 2.80%. However, this is the global NIM. The domestic NIM is at 3.14%. And the reason for this coming down of the NIM is one of the factors is that 15% of our global book is the international book, where the NIMs are on the lower side.

Sampath Reddy, Founder & CIO, Azurean Investment Managers, says generally speaking the domestic institutions are a lot more bottom-up in terms of investing style and they do have a lot of exposure to the mid and smallcap segment. A continuous positive inflows into the domestic institutions is helping the valuations of mid and smallcap companies. That is why the mid and smallcaps are still relatively expensive. Reddy also says he would not be very optimistic about the way things will pan out when the new US president takes over. He will probably wait and see whether the order books or the new large orders are coming through for the IT services companies. We have seen an uptick in sentiment in IT stocks since the US election. Is it likely to convert into earnings as well? Sampath Reddy: At this moment, most of the analysts are of the opinion that with the expectation of the tax cuts by the new president, there is a possibility that corporates might spend more on the IT side, I think that is what is leading to that optimism. But with the way the commentary has been, I am not sure where the earnings have come for the Q2 numbers. The momentum is mostly waning away. The growth rates are below the expectations for Q2. At this juncture, I would not be very optimistic about the way things will pan out when the new president takes over.

personal loan, credit card and microfinance (MFI) portfolios, Indian banks are slashing credit card limits and restricting pre-approved personal loans. Some of the lenders have also reduced loan-to-value (LTV) ratios on mortgage loans, bankers told ET. «We have identified stress segments in our unsecured portfolio based on customer segment, geographies, credit scores and sectors that are showing signs of trouble,» said the retail head of a private sector lender. «We have reduced risks in these segments by lowering credit card additions, reducing credit card limits, lowering LTV and keeping away from segments which have thrown up high risk.» Several lenders said that they now prefer offering loans to customers with credit scores of more than 750 from a cap of 720 seen prior to the onset of stress. Banks are also keeping a very close watch on days past due (DPD), where collection machinery gets triggered at day zero DPD.

Bandhan Bank and a host of small finance banks that have transitioned from microfinance business to their current avatar have faced higher slippages during the second quarter from their legacy business. Their desperate efforts to slow down micro-ticket lending to the bottom of the pyramid customers and instead raising the share of the secured portfolio did not prevent the rising credit cost. Microfinance loans are unsecured as these are not backed by collateral.

Andra Day has joined the cast of Percy Jackson and the Olympians, Disney+'s adaptation of Rick Riordan's popular book series. The acclaimed actor will play the role of Athena, the Greek Goddess of Wisdom and mother of Annabeth Chase.

Subscribe to enjoy similar stories. Mumbai: When Swiggy Ltd lists on the stock exchanges on Wednesday, it will mark the culmination of a short journey for Sriharsha Majety, the company’s co-founder. Majety, who began his startup journey a little over a decade ago by launching a logistics platform, quickly grew bored and shut that business.

BEML on Monday reported a marginal decline of 0.75% in its profit after tax (PAT) on a year-on-year (YoY) basis at Rs 51.03 crore for the second quarter ended September 30, 2024. The same stood at Rs 51.78 crore in the year-ago period.

Today, November 11, Vistara will take its last flight before merging into Air India. Vistara-Air India merger: Will airport lounge access booked on Vistara be valid when flying Air India after November 12?

Subscribe to enjoy similar stories. Amid much anticipation, China on Friday unveiled a $1.4 trillion economic support package, but left many disappointed, given the absence of any direct measures to address overall demand.

online travel agencies (OTAs) and scheduled airlines, as business travel soars in lockstep with the resumption of normal office routines. «Return to office remains a key driver of increased corporate travel, as companies balance remote, in-office and hybrid work,» said Praveen Iyer, cofounder of Akasa Air. «With hybrid work models, employees are traveling frequently for meetings, collaboration and industry events like conferences and trade shows.» MakeMyTrip's corporate travel platforms, myBiz and Quest2Travel, crossed a gross booking value of $200 million for the first time in the quarter ended June, underlining growth prospects. Yatra's billing from the corporate segment crossed about $24 million (₹200 crore) for April-June, 77% higher than the previous three-month period. «We have to focus on really doubling down on the corporate side,» said Dhruv Shringi, chief executive of Yatra Online. The OTA derives 55% of its revenue from the B2B segment.

content licensing deals with Gen AI companies gain traction, academic book publishers find themselves in a dilemma: ‘Are we be making a deal with the devil?’ While licensing might seem like fair compensation for using authored material to train AI models, experts suggest, this may not be a permanent solution. Once trained, these models can generate new content autonomously, thereby making it difficult to establish the rights of authorship. The Indian Reprographic Rights Organization (IRRO) which represents 113 global and Indian publishing houses like Pearson, Oxford, S. Chand etc. said, it is cautious of these factors as AI companies are approaching the body for content outsourcing rights.

Realty firm Godrej Properties' net debt rose 2% during the September quarter to ₹7,572 crore with the company focusing on land acquisition for future growth. Its net debt stood at ₹7,432 crore at the end of the June quarter, according to an investors' presentation. Godrej Properties is one of the leading developers in the country. It has a major presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. Godrej Properties plans to raise up to ₹6,000 crore through the issue of securities. The board had last month approved the proposal. The funds would be raised through the issuance of securities, including equity shares, debentures, preference shares, and/or any other eligible securities. The fundraising could be in one or more tranches through public and/or private offerings, including qualified institutions placement, rights issue, further public offer or any other mode as may be permitted under applicable laws.

Subscribe to enjoy similar stories. That pile of books and other ‘stuff’ on the table now resembles a person. You’d put on a pot of water for boiling, but it has long evaporated and the pot has turned to a neat shade of rust.

India Infrastructure Finance Company Ltd (IIFCL) is planning to set up a subsidiary to issue asset-backed securities (ABS) or covered bonds, as it aims to securitise its assets and conserve capital for further business growth. «We are almost reaching the threshold of asset size and loan book that we should have, and we may not really look at the quantum jump in asset size or loan book size. We may have a separate vertical to securitise our own assets,» IIFCL MD PR Jaishankar told PTI. «We will try to grow our assets and generate more assets with the help of the existing assets instead of taking more liabilities...the idea is that assets should beget assets incrementally. That will save the capital that will help our cost of funds go down, our profitability going up, and that will help improve our viability and quality of assets.» The idea is to hive off part of our assets, he said, adding, «We will maintain a threshold, and we will focus on increasing the sanctions and disbursements more as compared to growing the asset size or loan book size».

Narendra Modi and the BJP for equating a «red book» of the Constitution with "urban Naxalism" and said the PM gave a similar copy in 2017 to then President Ram Nath Kovind. Addressing a press conference here after launching the opposition Maha Vikas Aghadi 's (MVA) manifesto for the November 20 Maharashtra assembly elections, Kharge also said his party's demand for a caste census is not to divide people, but to understand how various communities are placed at present so that they can get more benefits. Notably, Maharashtra Deputy Chief Minister Devendra Fadnavis recently alleged that Congress leader Rahul Gandhi was trying to seek support from «urban Naxals and anarchists» by holding a «red book» in his hand. Gandhi, the leader of opposition in the Lok Sabha, has been displaying an abridged version of the Constitution in a red cover during his rallies.

Subscribe to enjoy similar stories. Retelling myths and epics for contemporary readers is one of the easiest and, if you are lucky, most lucrative route to a writing career. The stories remain omnipotent, thousands of years after their origins, always ready to be adapted into new-age fantasies or revisited from fresh perspectives.

Subscribe to enjoy similar stories. If anything has lived, we will eat it," my father once boasted. He certainly did, trying beetles in Mizoram and rats in Nagaland and, along with my mother, encouraging us to enjoy the blood curries and sundry offal specialities of north Karnataka.

Prince Harry, Donald Trump's victory in the 2024 presidential election may not be good. When the president-elect returns to the White House in January 2025, he will likely face a number of challenges, but it appears that he still harbors resentment toward the member of the royal family from the United States, as quoted in a report by SheKnows.