COST Financial News

Stock market today: Shares of the Indian Renewable Energy Dev Agency (IREDA) witnessed strong buying interest during early morning deals on Saturday. IREDA share price today opened upside at ₹141.40 on the BSE and went on to touch an intraday high of ₹145.80 per share within a few minutes of the stock market's opening bell. While climbing to this intraday high, IREDA share price touched a new lifetime high during the historic Saturday session.

Stock market today: After hitting below ₹1,000 apiece levels during the recent selloff in the Indian stock market, ICICI Bank share price regained the psychological ₹1,000 level during morning deals on Saturday. While regaining this, ICICI Bank's market cap also came above ₹7 lakh crore. ICICI Bank share price today opened upside at ₹1,005.95 per share level on the NSE and went on to touch an intraday high of ₹1,007.90 per share within a few minutes of the opening bell.

Kotak Mahindra Bank Q3FY24 performance to be announced on Saturday. The market nervousness was visible and share price of Kotak Mahindra Bank ended 0.66% lower on Friday on the BSE. The caution on Banks prevails as market participants are not being kind to any disappointments in Q3 performance and even slight miss in the results on any parameters is leading to sharp correction in stock prices as had been the case with HDFC Bank.

Meta Platforms Inc. shares closed at their first record high in more than two years on Friday, as the Facebook parent fully recovers from a selloff that at one point had erased more than three-fourths of its value. The stock rose about 2% to $383.45, surpassing an all-time high that has stood since September 2021. The record is the latest milestone in a lengthy recovery for the stock.

₹10,000 crore from ₹8,312 in the same quarter of last fiscal year, as per average brokerage estimates. Healthy fee income and stable cost ratios is likely to support Pre-provisions operating profit (PPOP) growth.ICICI Bank Q3 Results Live: ICICI Bank’s Q3 loan loan growth is expected to remain healthy, led by Retail and SME segments.

Banks are likely to make representations to the Reserve Bank of India (RBI) on sustained liquidity drainage that has pushed up funding costs for lenders despite unchanged policy rates for nearly a year. Liquidity has steadily declined with the central bank repeatedly stressing the primacy of maintaining price stability as Indian voters get ready to elect their next government this summer. «Banks and other participants in bond and interest rate markets will send a representation on the issues on Liquidity Coverage Ratio (LCR) buffers and high cost of funds to the RBI,» a source told ET. «This will be done next week, ahead of the policy statement on February 8,» the source said. LCR refers to a post-global financial crisis norm that requires banks to maintain high quality liquid assets (HQLA) to meet 30 days of net fund outflows under conditions of stress.

NEW DELHI : With the Union Budget 2024-25 on the anvil, the Indian aviation industry hopes for a range of measures to reduce cost burden with respect to aviation turbine fuel (ATF), lower duty structure on import of private aircraft, categorization of airports under priority sector lending and more initiatives to improve regional connectivity in India. “The import duty has to be done away with. It comes to 3% when you import either by purchasing of aircraft or induct it on lease.

₹5,208 crore, was also up 3% sequentially from Q2FY24; and revenues, at ₹25,368 crore, were up 2.5% over the previous quarter. Brokerages such as BofA, ICICI Securities and JM Financial had estimated revenue increase to be around 2.3-3% sequentially and about 10% on-year, while net profit was estimated to grow around 2.7-3.8% and 12%, respectively. The telecom carrier’s average revenue per user (APRU) remained flat at ₹181.7 sequentially, missing estimates of a rise to ₹183.

MUMBAI : Infrastructure conglomerate Adani Group has released pledged shares worth ₹2,878 crore ($346.2 million) related to four of its companies during the December quarter, BSE data analyzed by Mint showed. The group released a total 28.67 million pledged promoter shares across Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Energy Solutions Ltd. Notably, the group has reduced its pledge positions related to ACC Ltd and Ambuja Cements Ltd to zero, from 11.72% and 100%, respectively.

Canadians are contributing less to a tax-free savings account (TFSA) while basic monthly living expenses have increased, according to a new survey by BMO.

FOX Business real estate contributor Katrina Campins discusses whether the housing market is on the verge of a boom after the Fed signaled lower interest rates on 'Making Money.'

Valve's upcoming handheld console, the Steam Deck 2, set to allegedly release in 2026. Despite Valve's silence, speculations on its specifications, price and benchmarks have started circulating.

worst single-day drops in months. The crash was led by HDFC Bank, who has the most weightage in both indices. He also wrote about the bearish stance taken by foreign portfolio investors (FPIs) — a move that is certain to cause more volatility this month.

Stagflation could rear its head in Canada as geopolitical events coupled with a downbeat business outlook threaten to play havoc with the Bank of Canada‘s best-laid plans for getting inflation under control and cutting interest rates, suggests one economist.

Wayfair is laying off 13% of its employees, weeks after the company’s chief executive sent a memo asking them to work harder. On Friday the online retailer said it would lay off around 1,650 employees. Wayfair, which primarily sells furniture and other home goods, has done several rounds of large layoffs in recent years as pandemic furniture buying has cooled.

reporting entities (REs) under Prevention of Money Laundering Act (PMLA) 2002 to include practising chartered accountants, cost accountants and company secretaries. This is a welcome step, as many were found involved in money laundering activities, sometimes unknowingly. Auditors and legal professionals had been left out of the scope of this notification. The scope of activities for such reporting leaves out traditional practices like:

(Reuters) — Societe Generale (OTC:SCGLY) is preparing to cut hundreds of jobs in its home market as part of Chief Executive Officer Slawomir Krupa's effort to rein in costs, Bloomberg News reported on Friday.

Amidst the ongoing fourth-quarter earnings season, S&P 500 companies are delivering subdued results and cautious forward guidance, as per insights from JPMorgan equity strategists.

U.S. power companies raced to get in on the offshore wind boom a few years ago. Now some are rushing to get out.

Stifel analysts upgraded shares of DraftKings (NASDAQ:DKNG) to Buy from Hold, raising the price target to $45 from $40 per share in a note Friday, saying the company has a compelling 2024 set-up.

Investing.com -- Shares in Wayfair (NYSE:W) jumped in premarket U.S. trading on Friday after the online furniture and home goods seller announced it will cut about 13% of its workforce as part of an effort to revamp the business.