Indus Financial News

Axis Bank: Axis Bank Ltd on Wednesday reported a net profit of ₹5,863 crore in the second quarter of FY24 registering a 10% growth from ₹5,329.8 crore in the corresponding quarter of last year. NII during Q2FY24 rose 18.9% to ₹12,314.56 crore from ₹10,360.26 crore YoY. NIM for Q2FY24 was 4.11%, up 1 basis point QOQ and 15 basis points YOY, according to Axis Bank's filing exchange.

IndusInd Bank announced changes in lifestyle, veiled an exciting strategic partnership with Viamericas Corporation, aimed at providing cutting-edge digital inward remittance services to non-resident Indians (NRIs) residing in the United States. Leveraging the power of IndusInd Bank’s ‘Indus Fast Remit’ platform, this collaboration opens the door for NRIs to access highly competitive exchange rates when sending digital inward remittances to India.

Also Read: Market Close: Sensex cracks over 800 points, Nifty 50 ends below 19,300; Top 10 updates to know Approximately 45 companies will release their September quarter results today. Investors are focused on major players like Tech Mahindra Ltd, Axis Bank Ltd, Jubilant Foodworks Ltd, Welspun India Ltd, Network18 Media & Investments Ltd, and Indus Towers Ltd.

Body Various widely tracked companies like Axis Bank, Tech Mahindra, Asian Paints, Punjab National Bank, Reliance Industries, Maruti Suzuki, Bajaj Finserv and NTPC would be releasing their September quarter report cards this week.

Shashi Tharoor on Friday took a swipe at those who have a problem with the term 'India' but are comfortable calling themselves 'Hindu', although both the words, India and Hindu, are derived from the same etymology, which is river Sindhu. Dwelling on the origin of the term 'Hindu' during the launch of 'Nanu Yaake Hindu', the Kannada version of his book 'Why I am a Hindu', the Thiruvananthapuram MP said both the words were given by foreigners to describe people beyond the river Sindhu or Indus. Tharoor's book has been translated from English to Kannada by Congress leader Prof K E Radhakrishna.

India's Defence Minister, Rajnath Singh, revealed a series of significant announcements that aim to bolster the nation's self-reliance in the defence sector. The primary focus of these announcements was the unveiling of the fifth Positive Indigenisation List, which contains 98 critical items essential for the country's security and sovereignty. Strengthening Self-Reliance with the Fifth Positive Indigenisation List The highlight of the 'Swavlamban 2.0' event was the release of the fifth Positive Indigenisation List by the Department of Military Affairs (DMA).

After revision, the bank offers interest rate between 3.5 percent and 7.85 percent to regular citizens and 4.25 percent to 8.25 percent to senior citizens. Also read FD interest rate up to 8.25%:These 6 banks have revised fixed deposit interest rates in October 2023

Bharti Enterprises vice chairman Akhil Gupta has said cash-strapped Vodafone Idea’s survival is vital for growth of India’s biggest telecom tower company, Indus Towers, in which Bharti Airtel is the biggest stakeholder. Gupta also expects a combination of higher data consumption and fixed wireless services to drive 5G monetisation for India’s top telcos in the near-term. “Indus’s growth will be dependent on Vi catching up on 4G investments and eventually rolling out 5G…hence survival of Vi is important for Indus’ growth prospects,” JP Morgan quoted Gupta as saying in a recent investor summit hosted by the global brokerage. Loss-making Vi has been struggling to raise funds needed to pay vendors and the government, expand its 4G coverage and invest in its pending 5G rollout to compete effectively with bigger rivals Reliance Jio and Bharti Airtel. Vi’s chief executive Akshaya Moondra though recently told the Department of Telecommunications (DoT) that the company had made significant progress in its ongoing talks with several groups of investors to raise equity and equity-linked capital, and had term sheets from some potential investors. But the telco is yet to close its fundraise. JP Morgan quoted Bharti’s Gupta saying that India “needs three fully functional private operators,” which is why the survival of Vi was important.

Matrix Partners India, an early investor in startups such as OfBusiness, Dealshare, Ola Electric and Quikr, on Monday said it has promoted three of its principals, Aakash Kumar, Pranay Desai and Sudipto Sannigrahi, to managing directors. The Bengaluru-based venture capital (VC) firm took to X, formerly Twitter, to make the announcement late evening and said, “We are thrilled to have these talented leaders on our team, and we look forward to their continued contributions to the firm.”

SMA). This technical achievement is closely watched by investors as it often signifies short-term trends. Let's explore the performance of these stocks.

The report in Bangladesh-based daily further highlighted that Chinese investments in water-based resources is leading to adverse impact on the environment, displacement of local people and huge debt to countries. The combination of territory grabbing and water resource hegemony by China is a threat that all countries in South and South East Asia face and their respective security environments Although, the planet is covered with 70 per cent water, but only 2.5 per cent of this is fresh water, which has led to many experts predicting the next theatre of war as the conflict over water. This is precisely why nations have begun to preserve fresh water and, in some cases, have gone beyond to become global water hegemons, as they grow and develop. One example in the list is China. Being a water-stressed country, Beijing made huge investments in water-based resources globally. However, apart from the geo-political implications, China's water hegemony has had an adverse impact on the environment, and well-being of local populations and pushed nations into debt traps due to resource-intensive investments in dam/hydroelectric projects. According to the Daily Asian Age report, China is said to have constructed a whopping 308 dams in 70 countries on various rivers (Tibet Policy Institute, September 23, 2016). The recent estimates of China's dam construction worldwide show that these dams generate a total of 81 GW of power.

Indus Appstore Developer Platform for free in the first year, with a nominal annual fee applying afterward. Notably, there are no platform fees or commissions for In-App Payments, allowing developers to integrate their preferred payment gateways. Akash Dongre, CPO and Co-Founder of Indus Appstore, highlighted the potential of the Indian smartphone market, with over one billion expected users by 2026.

Google and Apple, digital payments major PhonePe is opening its Indus Appstore to other Android developers. The company on Saturday announced the launch of the Indus Appstore Developer Platform, which will be free for developers for the first year, after which a nominal annual fee will apply.

ANI reported. Petal Gahlot said, “In order for there to be peace in South Asia, the actions that Pakistan needs to take are threefold first stop cross-border terrorism and shut down its infrastructure of terrorism immediately. Second, vacate Indian territories under its illegal and forcible occupation.

Noida Traffic alert! Advisory issued for 5 days for UP International Trade Show 2023, MotoGP. See alternate routes here The meeting was called together by the neutral expert, who was appointed at India's request under the framework of the Indus Waters Treaty, the MEA said.

Kotak Mahindra Bank Ltd, Zomato, Paytm and other companies with significant investments from Canada Pension Plan Investment Board (CPPIB) declined as the fresh tensions between India-Canada relationship escalated. Canada Pension Plan Investment Board is the largest pension manager in Canada and has significant holdings in some of the Indian companies. CPPIB disclosed an investment of $21 billion ( ₹1.74 lakh crore) in India about a year ago.

G20 Summit, sharing working space at the International Media Centre for the last three days made them experience the spirt of «one family». From September 8-10, scribes and camerapersons from Italy to Singapore and Turkiye to Brazil worked from the facility at the newly built Bharat Mandapam — the summit's venue. In between work, they chatted over cups of coffee and Indian meals, and also learned about cultures of different countries from each other. «The G20 theme is 'one world, one family, one future', and all of us have been working with one aim in one space, under one roof.

G20 summit. With a special session of Parliament summoned without an agenda, there is speculation: Is India about to become Bharat? Mint examines the history and likely implications. In Indian cosmology, the earth is flat and circular with a mythical Mount Meru at its centre.

India getting re-Christened as ‘Bharat’! Bollywood’s ‘Queen’ Kangana Ranaut too joined the discourse. Taking to X (formerly Twitter), she retweeted an old clip of spiritual influencer Sadhguru advocating why the country’s name should be changed to Bharat and wrote that he had predicted such a development decades ago. “My guru said it decades ago, I am nothing but mere dust of his feet, he is on Kailash yatra, he doesn’t know yet but this remarkable change of the name of this nation will bring him tears of joy, he will be returning not to India but to his beloved Bharat,” reads her post. She argued that the name India was born from the name Indus which was created as foreigners could not pronounce the name ‘Sindhu’ properly. “What is there to love in this name? First of all, they couldn’t pronounce ‘Sindhu’ toh usko bigad ke ‘ Indus’ kar diya.

Adani Logistics, Sajjan Jindal-owned JSW Jaigarh Port, TVS Group, and Welspun Group have shown interest in bidding for Renaissance Indus Infra, a warehouse and industrial park developer undergoing insolvency process, said people aware of the development. Two special-purpose vehicles floated by promoter Mayur Suchak's Renaissance Group are undergoing insolvency. These are Renaissance Indus Infra which is involved in warehousing and industrial development in or around Bhiwandi, Mumbai and Renaissance Urban Infra which is engaged in the business of infrastructure developments and creation of industrial smart cities. IIFL Facilities Services; Authum Investment and Infrastructure, which recently acquired assets of Reliance Home Finance and Reliance Commercial Finance; and JC Flowers Asset Reconstruction Company, which acquired Yes Bank's ₹48,000 crore distressed assets portfolio, also submitted expressions of interest (EoI), said one of the persons cited above. Clearwater Capital Partners Singapore Fund and Catalyst Trusteeship are the only two creditors for the Renaissance Group's SPVs admitted for corporate insolvency. Ares SSG Capital is the sole bondholder for which Catalyst is the debenture trustee. The lenders are working on group resolution although both cases were admitted separately by the National Company Law Tribunal.

Six months after becoming the chief executive officer at Shell PLC, Wael Sawan quietly ended the world’s biggest corporate plan to develop carbon offsets, the environmental projects designed to counteract the warming effects of CO2 emissions.