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Kotak Mahindra Bank on Saturday reported a nearly 8% year-on-year (YoY) growth in net profit for the quarter ended December to Rs 3,005 crore, but the figure was lower than the estimated Rs 3,250 crore. Net interest income, the difference between interest earned and interest expended, rose nearly 16% YoY to Rs 6,553 crore. Provisions and contingencies surged to Rs 579 crore from Rs 149 crore a year ago. Pre-provision operating profit increased 19% YoY to Rs 4,566.21 crore but declined nearly 1% sequentially. On the asset quality front, the gross non-performing assets as a percentage of total loans was 1.73% as of December end compared to 1.90% a year ago, and 1.72% a quarter ago. The net non-performing assets ratio was 0.34% as of December end, compared to 0.43% a year ago, and 0.37% a quarter ago. During the quarter, Kotak Bank also made a provision of Rs 143 crore for investments into the Alternate Investment Fund (AIF).

Ayodhya, using it as a ploy to deceive unsuspecting individuals, according to a ToI report. If you receive a message offering 'prasad' from the sacred event and it includes a link for payment, refrain from clicking. Modus Operandi Police said that the scammers send messages to random numbers, assuring the delivery of 'prasad' from Ayodhya. Upon clicking the link provided in these messages, users are prompted to input their details. Almost immediately after entering their phone numbers, the fraudsters obtain access to the linked bank accounts. The entire process of siphoning off the funds takes mere seconds. Some deceitful groups are even enticing people with offers like phone recharge, using a similar modus operandi to gain unauthorised access to bank accounts. A city police officer cautioned, «There is hardly any religious organization or institution that delivers prasad like this. If anyone comes across such messages, please ignore them and don’t click on any links.»

Apple may go back to THIS iPhone 12 design with upcoming iPhone 16 Notably, the Apple iPhone 15 series, which was launched in September last year, came with a new Action button, replacing the mute button found on the previous generation. The Action button was a key part of the marketing campaign for the iPhone 15 series.

Apple has reached an agreement to settle a US class action lawsuit, in which the company will be paying $35 million to iPhone 7 and iPhone 7 Plus users, who were prone to audio issues due to a defective chip in the devices. The company has now started notifying eligible customers by email, MacRumors reported.

railway stocks as they continue to move on the fast track ahead of the 2024 Budget. Ircon International was the leader in the pack on Saturday, gaining 15% while hitting a fresh 52-week high.

Ashok Singhal, the former Vishwa Hindu Parishad president, the one responsible for taking up the matter with the chief of Larsen & Toubro, AM Naik, at that time. «L&T is a reputed firm. The plan to build the temple was discussed 15 years ago or so.

As the risk of sizable losses on commercial real estate loans grows, Canadian banks’ earnings are poised to take a hit, according to the head of Canada’s financial-system regulator.

ICICI Bank will announce its December quarter earnings, later today where it is expected to report a 20% year-on-year (YoY) growth in net profit at Rs 9,984 crore, and net interest income (NII) of Rs 18,474.30 crore which is sa 12% uptick as per the average of estimates given by 12 brokerages. ICICI Bank’s October-December quarter earnings is likely to be aided by a higher than industry growth in the loan book, lower credit costs, and steady asset quality. India’s second largest private sector lender is expected to report a 20% year-on-year (YoY) growth in net profit for the December quarter to Rs 9,984 crore, and net interest income (NII) is seen growing by 12% to Rs 18,474.30 crore, the average of estimates given by 12 brokerage firms showed.

Paytm jumped over 3% to the day's high of Rs 798 on the NSE in Saturday's trading session after the company reported a jump in its December quarter revenue while narrowing its losses. With today's gains, the stock has remained unbeaten in three sessions and gained over 8%. The digital payments major narrowed its losses to Rs 220 crore for the quarter ended December 2023, compared to Rs 290 crore in the September quarter and Rs 392 crore in the year-ago quarter. Revenue from operations in the third quarter jumped 38% to Rs 2,850 crore as against Rs 2,062 crore in the corresponding quarter of the previous year. Read more | Paytm Q3 Results: Losses narrow to Rs 220 crore; revenue jumps 38% YoY Reacting to Paytm's quarterly show, analyst Sanjiv Bhasin said that he has been recommending the stock at levels of Rs 600, 620 and the stock has now surpassed Rs 780.

Hindustan Unilever (HUL) fell over 3% to the day's low of Rs 2,487 on Saturday following its December quarter earnings where the fast-moving consumer goods (FMCG) sector bellwether reported disappointing earnings on Friday. The commentary by a couple of brokerages was uninspiring for investors with CITI reiterating an 'Equal Weight' rating, while Nuvama trimmed EPS estimates even as it retained a buy stance. The company posted a net profit growth of a mere 0.6% year-on-year (YoY) to Rs 2,519 crore while missing the ETNow poll estimate of Rs 2,724 crore. Revenue from operations fell 0.3% YoY to Rs 15,188 crore and also trailed estimates of Rs 15,533 crore. Read More: HUL Q3 Results: PAT rises just 0.6% YoY to Rs 2,519 crore, trails estimate Here's what brokerages recommended:

Voltas Ltd. with a target price of Rs 1150.

Houthi attacks on ships in the southern Red Sea or Gulf of Aden, which continue to occur almost daily. The Houthi rebels, supported by Iran, claim their actions in the Red Sea corridor are in response to Israel's offensive against Hamas in the Gaza Strip. The Gaza conflict, now in its fourth month, stands as one of the deadliest and most destructive military campaigns in recent history.

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.

Bar and Bench reported. Moti Mahal owners sued the proprietors of Daryaganj restaurant after it used the tagline "Inventors of Butter Chicken and Dal Makhani". “Daryaganj restaurant is misleading people into believing that it is associated with Moti Mahal, which first opened its doors in the Delhi neighborhood of Daryaganj," Moti Mahal claimed.

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.

Stock in focus: After the announcement of Reliance results for Q3FY24 on Friday, market observers and stock investors are expected to remain vigilant about the movement of Reliance shares on Saturday. The Sensex heavyweight on Friday reported an 11 per cent YoY rise in net profit during the October to December 2023 quarter. The energy-to-telecom conglomerate's gross revenue in the third quarter of the current fiscal rose 3.2 per cent YoY to ₹2,48,160 crore.

Paytm share price rose over 3 per cent in early deals on the BSE on Saturday, January 20, a day after the company reported its December quarter scorecard. Paytm share price opened 2 per cent higher at ₹789.50 against the previous close of ₹773.90 and soon rose about 3 per cent to the level of ₹797.70. Around 9:20 am, the stock was 1.42 per cent up at ₹784.90 on the BSE.

Hindustan Zinc share price rose by about 1% during the Saturday trading session as analysts reported that the Vedanta Group company's Q3 earnings were in line with street projections. On Friday's session post the Q3 results, Hindustan Zinc shares jumped over 4%.

X-59 supersonic aircraft which is capable of flying faster than the speed of sound. The 100-foot-long and 30-foot-wide plane was rolled out by NASA and Lockheed Martin on Friday in Palmdale, California. After launching in 1976 and experiencing expensive maintenance as well as a deadly crash in 2000, the Concorde, which had a top speed of 1,350 miles per hour, was retired almost twenty years ago.

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.

Read more here Reliance Industries Limited reported a 10.9% increase in its net profit to ₹19,641 crore in the third quarter of FY 23-24. The company's total revenue from operations stood at ₹2,27,970 crore during the quarter under review. The robust performance of the oil and gas segments was one of the major highlights of the quarterly results of Mukesh Ambani's firm.