COST Financial News

14.08 / 08:29

COST UPS Booking Aware CEO Muthoot Finance cost of funds may go up by 10-15 basis points; to come down after 1-2 quarters: George Alexander Muthoot

George Alexander Muthoot, MD, Muthoot Finance, says: “If there is pressure on the borrowing cost, we will be passing it on to the borrowers because our borrowers are not that much interest sensitive and if all over the place the interest rates are going up for all sorts of loans, then the customers would understand that gold loans are also becoming more pricey. For that, we would be able to maintain our spread and margin at 10% and 11%.”There has been a sharp spike in your cost of funds that have put margins under pressure. Was this on expected lines and can you walk us through the outlook or the reasons for your margin compression?The margin has not really compressed.

14.08 / 08:15

COST India, Sri Lanka to begin talks on petroleum pipeline project | Mint Primer | Mint

New Delhi And Colombo Are Set To Begin Technical D... moreNew Delhi And Colombo Are Set To Begin Technical Discussions That Could Pave The Way For A Multi-Product Petroleum Pipeline Between The Two South Asian Nations, Mint Has Learnt.

14.08 / 07:37

COST UPS Puzzle Yellow Quordle #567: Clues, solutions to crack the wordy puzzle for August 14

Freddie Meyer taking an inspiration from globally famous game Wordle and Dordle. Quordle is basically a Wordle- Dordle inspired game. It was launched in January 2022. Quordle is four-times more challenging than Wordle as it has multi-fold challenge. Quordle is globally accessible and is available at its official website. The game is completely ad free and comes without log in formalities. Quordle also has a dashboard of old daily word puzzle challenges which are already played to help those who are new to play the game. These practice games don't hinder with your winning streaks.

14.08 / 06:55

COST Booking performer Muthoot Finance stock slips 5%. What is taking the sheen off its performance?

₹66,040 crore in the June quarter (Q1FY24). Loan growth in this mainstay business segment got a boost from rising gold prices. For FY24, the management reiterated a 15% growth in gold AUM aided by a pick-up in demand and easing competitive pressure by banks.

14.08 / 06:47

COST UPS Lowe's Target Muthoot Finance tanks 8% post Q1 earnings. Should you buy the stock?

Muthoot Finance shares fell over 8% to the day's low of Rs 1,236.55 on the NSE on Monday following a downgrade by domestic brokerage Nuvama, which recommended a 'Reduce' on the stock, citing expensive valuations, while Motilal Oswal took a 'Neutral' stance estimating limited upside catalysts to push the prices further up. The views came post the June quarter earnings, where the gold financing company registered a 27% year-on-year (YoY) growth in its consolidated net profit at Rs 1,045 crore. The standalone profit after tax (PAT) was reported at Rs 975 crore, up 22% YoY.

14.08 / 06:47

COST Target show performer Patanjali Foods shares tank 5% after Q1 profit slumps 64% YoY

Patanjali Foods shares tanked nearly 5% to Rs 1,232 in Monday's trade on BSE after the company reported a nearly 64% year-on-year (YoY) drop in net profit for the quarter ended June 2023 to Rs 878 crore. However, revenue from operations rose nearly 8% YoY to Rs 7,767 crore. The sharp fall in the net profit was due to muted sales growth and a sharp deterioration in operational performance.

14.08 / 06:45

COST UPS Platform Strategy India's big startups burn through cash at alarming rate

India's startup space, innovation and aspiration have found fertile ground to succeed. In the past decade, we saw a record rise in entrepreneurial accomplishments, sustained by a blend of factors. Factors such as heightened technological accessibility, an expanding consumer market, and an increasing appetite for venturing into the unknown.

14.08 / 06:45

COST UPS Target Digital Metro Apollo Hospitals' focus on healthcare segment fuels positive outlook

₹57,760, up 11% year-on-year, and segment's profits at ₹264 crore, up 19% year-on-year. Overall occupancy was 62% and the company plans to achieve more than 70% over the next two years, Group CFO Akhileswaran Krishnan said. Analysts at Motilal Oswal Financial Services said that., “We remain positive on Apollo Hospitals due to its sustained healthy growth/ profitability in healthcare services.

14.08 / 06:31

COST Provident Digital Extreme CEO Borrowing Your Money: Borrowing online? Vet the lender first, avoid easy loans from entities operating through phone apps

India has had a payments revolution with UPI. Now, thanks to India’s digital public goods, another financial revolution is underway. This time, it’s in lending. Aadhaar led the Gen 1 public goods. Gen 2 has DigiLocker, Account Aggregator, and Video KYC. Together, these are enabling lending with speed, cost savings, and convenience.

14.08 / 06:31

COST UPS Provident performer reports Samvardhana Motherson reports Rs 601 crore profit for Q1 FY2024

Tier 1 supplier Samvardhana Motherson International (formerly Motherson Sumi Systems) has announced its financial results for Q1 FY2024.

14.08 / 06:31

COST Citi FIVE Remark stage market dynamics Gurugram Real Estate: Unprecedented demand surge, supply shortage reshape market dynamics

Gurgaon’s real estate market has witnessed the highest growth in demand among India’s top cities during the second quarter of 2023. The growing demand for housing, coupled with a significant drop in supply, has set the stage for an intriguing market landscape, prompting an increase in average rates and reshaping the region’s real estate dynamics.

14.08 / 06:31

COST Provident Citizens CEO Strategy Parke Time Repo Rate Unchanged: Is this the right time to invest and prepay your loan?

The Reserve Bank of India has kept the repo rate unchanged for the third time in a row to ensure borrowing costs do not go overboard and economic growth also continues without any disruptions. However, there is no guarantee how long the rate will remain unchanged. Borrowers and investors seem to be cautious about it.

14.08 / 06:31

COST UPS Gap Strategy Dreams Time Money tips for first-time homebuyers: Tax saving to finding the right lender – Explained

Buying a home for oneself is a dream for many in the working-class population. That feeling you get when you save up enough and zero in on the house; that feeling when you see the happiness on your mother’s face on the day of housewarming; that feeling of creating a safe place for yourself — words aren’t enough to portray that.

14.08 / 06:31

COST Provident Booking CEO Align Costs How can co-branded credit cards help you save costs?

Credit card usage and spends have significantly increased as per the latest data by the RBI. These trends are leading to a competitive market landscape where new cards are being launched with more and more features to grab consumers. Old cards are getting outdated with new cards offering better services and features such as complimentary golf classes, access to airport lounges, reward points and cashback on every transaction, etc.

14.08 / 06:31

COST UPS Provident Citizens stage cover Factors to consider while buying Life Insurance in your youth

Many people in their early to mid-20s hesitate to buy life insurance as they believe that they do not need insurance at this stage of life. They feel that they can defer this investment to a later date, when they get married or have additional responsibilities like kids or retired parents.

14.08 / 06:31

COST UPS Provident Merit performer cover Real Estate vs Stock Market: Where to invest your hard-earned money?

When it comes to investing, two popular options that often come to mind are real estate and the stock market. Both avenues offer unique advantages and disadvantages, and understanding these can help investors make informed decisions. While both have their own advantages and disadvantages, it is crucial to understand their relative merits and demerits before taking the plunge.

14.08 / 06:05

COST Provident Lowe's Barrett cover Bowen won’t fund BHP’s early coal closure

Energy Minister Chris Bowen has rejected BHP’s request for taxpayers to help fund the early closure of one of Australia’s biggest thermal coal mines, signalling he wants a $1.9 billion fund to reduce pollution rather than the nation’s productive output.

14.08 / 05:53

COST UPS Lowe's Fitch government debt Analysis-US loss of AAA badge a reminder of 'regime shift' for government debt

By Yoruk Bahceli

14.08 / 05:51

COST UPS Citi Gap Intuit country cover Medtech companies still in talks with insurers to get their treatments covered

medtech companies say they still face some obstacles in getting their technology covered under a few companies’ plans. Insurance consultants, who are helping facilitate the dialogue between medtech and insurance companies, told ET that this may be because of ambiguity in the wording of the directive from Insurance Regulatory and Development Authority of India (IRDAI). “The directive says the treatments will be covered whenever medically indicated, which can be interpreted as ‘only covered if necessary,’ and not by the patients’ choice,” they said.

14.08 / 05:15

COST Action UBS CHF Takeover UBS faces legal challenge over Credit Suisse takeover, investors to lodge claim in Zurich court today

Credit Suisse, as hundreds of individual shareholders, including former employees of Credit Suisse, are planning to lodge a claim in Zurich’s commercial court today, Financial Times reported. The Swiss Investor Protection Association (SASV), representing retail investors, intends to file the claim on behalf of around 500 Credit Suisse equity investors who experienced significant losses when UBS took over the bank in March. The takeover, orchestrated by Swiss authorities, didn't allow shareholders in both banks to vote on the deal.

14.08 / 05:13

COST Action Entertainment stage penalty SkyCity puts aside $45m for potential AUSTRAC penalty

SkyCity Entertainment set aside $45 million for a penalty if it is convicted of breaches of anti-money laundering and counterterrorism laws.

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