Reports Financial News

Axis Bank on Thursday reported a tepid rise in its December quarter profits on the back of weak business growth, increased slippages and higher credit costs. The bank's profit rose 4% on year to ₹6,304 crore, largely in line with expectations. An analyst poll by Bloomberg had estimated profit after tax at ₹6,297 crore. Net profit was ₹6,071 crore in the same quarter last year.

Hindenburg Research, the controversial short-selling firm, winds down, the impact of its stinging report on the share prices of Adani Group, one of its most notable targets, still lingers. The group's total market value is still 34% below the levels when the Hindenburg report was released on January 24, 2023, accusing the conglomerate of 'stock price manipulation' and 'accounting fraud'. The silver lining is that the conglomerate's financial parameters are pointing to better health. Out of the 11 Adani stocks listed then, seven are yet to recover to the pre-Hindenburg levels though the Nifty index has rallied 29% since then. Three stocks, such as Adani Total Gas, Adani Energy Solutions, and Adani Wilmar, are trading 50-83% lower; while NDTV, Adani Green and Adani Enterprise are down by 30-50%. Adani Power has doubled since the Hindenburg report while Adani Port gained 48%.

Pacheli Industrial Finance (PIFL) and six other entities from accessing the securities market for indulging in a 'pump and dump' operation. The regulator said the company was taken up for examination because the share price movement of PIFL did not appear consistent with the reported financials.

quick commerce app. So will some other regular packs of consumer goods firms, which are reworking their channel strategies to protect neighbourhood stores, while also aligning them with changing shopping habits.

Reserve Bank of India helped contain excess losses. «Most foreign banks were buying dollars, while the RBI sold dollars to cap depreciation near 86.50/$1 levels, after which some more depreciation was seen up to 86.55/$1,» said Anil Bhansali, head of treasury at Finrex Treasury Advisors.

Meta CEO Mark Zuckerberg is all set to co-host a black tie reception on the date of January 20 of the year 2025 just following US President- elect Donald Trump's inauguration, reported The Hill.

AI stocks are currently the trend of the US stock market, and the hype is just not looking like ending anytime soon. However, market experts are claiming that a majority of AI stocks that have witnessed some massive growth in 2024, may see a major plummet in 2025 for certain reasons, a phenomenon that could also affect stock indexes like the S&P 500 and the Nasdaq Composite.

U.S. stock indexes drifted lower following a mixed set of earnings reports from Morgan Stanley, UnitedHealth Group and other big companies

Americans stepped up their spending at retail stores and restaurants last month in a clear sign that consumers are still able and willing to shop

The number of Americans applying for unemployment benefits rose last week, but layoffs remain historically low and the job market broadly healthy

U.K.-based oil company is cutting 4,700 jobs worldwide and a further 3,000 contractor roles as part of a cost-saving drive

pharmacy benefit managers (PBMs) in the US namely OptumRx of UnitedHealth, Express Scripts and CVS Caremark collectively profited by approximately $7.3 billion through significant price markups on essential medications between the year 2017 and the year 2022, reported Fortune.

return-to-office mandate of JPMorgan Chase, several employees are reportedly engaging in numerous discussions about forming a labor union while being inspired by successful efforts at Wells Fargo, reported Fortune.

Michelle Obama is reportedly shying away from major political events in recent while, and the Presidential inauguration ceremony is going to be the next on her list. Although the reason for the same could be because she is away for some time from Washington DC, many who are close to the former First Lady are claiming that she is not attending the prestigious event so that 'she does not have to pretend'.

inaugural lunch will not be attended by former Presidents Obama, Clinton, or Bush. Obama was invited but chose not to go. Bush's office stated it was not tracking an invitation to the lunch, while a second source with knowledge of the situation said Clinton is also invited but did not intend to attend, as quoted in a report by NBC News.

Trade has dominated the conversation in Canada since Donald Trump won the U.S. election and threatened to slap a 25 per cent tariff on all imported goods.

Last month, former Bank of Canada governorMark Carney appeared poised to become the country’s next finance minister. Now, he has an even bigger post in his sights.

PayPal co-founder Peter Thiel.

Reliance Industries’ telecom and digital properties, posted a 25.95% on-year rise in net profit in the fiscal third quarter, on the back of the tariff hikes of July 2024, subscriber additions and strong data usage growth. The rate hikes helped Jio grow average revenue per user(ARPU) 4.2% on-quarter to Rs 203.3. But the full beneficial impact of the price hikes will be staggered, and likely to come through Q4FY25 and Q1FY26, since Jio has a higher share of subscribers on longer-validity plans compared to Bharti Airtel or Vodafone Idea.