Reports Financial News

Bank of Maharashtra managing director Nidhu Saxena said that he would not mind compromising growth a bit to maintain high asset quality. «We have stressed upon the quality of advances. However, we are happy that the bank achieved 21% advances growth despite stricter underwriting standards.» The state-owned lender reported a 36% year-on-year rise in net profit at Rs 1406 crore for the December quarter while operating profit rose 14.5% at Rs 2303 crore.

UnitedHealth posted a better-than-expected profit in the final quarter of 2024, but revenue fell short as challenges like Medicare funding cuts and a Medicaid enrollment drop hurt

It turns out that $1.8 billion wasn’t just sitting in a bank account in South Carolina waiting to be spent

Subscribe to enjoy similar stories. Hindenburg Research which set off a firestorm in India with withering allegations against the Adani Group is being disbanded, marking the end of the American short-seller feared for successfully targeting dozens of corporations. Nathan Anderson, who founded the research firm seven years ago, announced the closure but did not specify a reason for the decision.

LTIMindtree on Thursday reported a 7.1% decline in its consolidated net profit for the quarter ended December 31, 2024, to Rs 1,085 crore versus Rs 1,169 crore posted in the year-ago period. The revenue from operations in Q3FY25 stood at Rs 9,661, witnessing a 7.1% gain over Rs 9,017 crore posted in the same period a year ago. On a sequential basis, the profit after tax (PAT) was down 13.2% versus Rs 1,251 reported in Q2FY25.

Waaree Renewable Technologies, a leading provider of EPC solutions, on Thursday reported a 16.7% year-on-year (YoY) decline in its net profit to Rs 53.50 crore for the third quarter ending December 2024. The company also declared an interim dividend of Re 1 per share for its shareholders. During the quarter, the company’s net profit attributable fell to Rs 53.50 crore, compared to a profit of Rs 64.25 crore in the previous corresponding quarter last year. Meanwhile, the total income for the quarter saw an increase of 12.4% to Rs 364.12 crore, compared with Rs 324.67 crore in the corresponding quarter of the previous year.

Subscribe to enjoy similar stories. Sundar Pichai, Google’s chief executive, recently told employees he believes the company’s Gemini AI technology has surpassed the capabilities of competitors. Google’s chief executive thinks his company has the best artificial-intelligence technology on the market.

Supreme Court on Thursday favoured a uniform policy for management of tiger reserves throughout the country.

Axis Bank on Thursday reported a consolidated net profit growth of 3.8% for the quarter ended December 31, 2024, to Rs 6,304 crore versus Rs 6,071 crore posted in the year-ago period. It was below ET Now poll estimates of Rs 6,434 crore. Axis Bank earned interest income of Rs 30,954 in Q3FY25, witnessing an 11% gain over Rs 27,961 crore posted in the year-ago period.

accident on the Mumbai-Nashik national highway claimed the lives of four people, including a six-month pregnant woman and her five-year-old daughter, early Wednesday morning. The incident also left 15 others injured, with four in critical condition. They are receiving treatment at the Ulhasnagar Central and Thane Civil hospitals, a TOI report stated.

Motilal Oswal Financial Services report estimates net household financial savings rose to 7.3% of GDP in the first half of the 2024-25 financial year (FY25). This is nearly double the 3.7% recorded during the same period the previous year (FY24). Improved savings allow the government and businesses to tap into local funds for investments, boosting the economy.

Ben Affleck is one of the celebrities who had to flee their home in Los Angeles due to the devastating Pacific Palisades fire. The “Argo” director, 52, was evacuated from the $20 million house after the intense blaze and went to his ex-wife Jennifer Garner’s nearby home, according to TMZ. A few days later, FBI agents visited Ben Affleck's home. Photos showing the FBI visiting Ben Affleck's home in the Los Angeles area over the weekend were obtained, as quoted in a report by Parade.

Hindenburg Research, the US short seller that mounted an attack on the Adani Group and Sebi chief Madhabi Puri Buch, is shutting down. Founder Nate Anderson did not specify any one reason to disband it. «There is not one specific thing — no particular threat, no health issue, and no big personal issue,» he said. «As I've shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research,» he added. He explained that the plan was to wind up operations after completing their pipeline of investigative ideas. Notably, the firm recently concluded its final projects related to Ponzi schemes, marking the end of its research activities.

Virupaksha temple in Hampi has imposed a ban on bananas within its premises, aiming to preserve cleanliness and protect its temple elephant, Laxmi, from the constant attention of tourists, reported TOI. The temple's decision comes after repeated incidents where visitors fed bananas to the elephant in large quantities, often resulting in the animal becoming visibly disturbed.

BEIJING — As promised government support is still to meaningfully kick in, China's economy hasn't yet seen the turnaround investors have been waiting for.

Subscribe to enjoy similar stories. Household Consumption Expenditure Survey (HCES) data has been making headlines for its deep dive into India’s standard of living and evolving consumption patterns. The latest HCES 2023-24 fact-sheet, released hot on the heels of the 2022-23 micro-data, offers a treasure trove of insights into shifting consumption over the past year.

Saif Ali Khan was admitted to Lilavati Hospital at 2 am with a reported history of assault by an unknown individual, said Doctor Nitin Dange, Neurosurgeon at Lilavati Hospital where the actor was admitted after being stabbed during a burglary at his residence last night.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded 0.3 per cent in Thursday's trade at 01:28PM (IST). Around 37,594 shares changed hands on the counter. The stock opened at Rs 5850.00 and touched an intraday high and low of Rs 5950.00 and Rs 5760.00, respectively, in the session so far. The stock of <a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. quoted a 52-week high of Rs 6448.75 and a 52-week low of Rs 3350.05.

Abneesh Roy, ED, Nuvama, says some benefit to boost the lower end of consumption is expected in the Union Budget. Rural consumption is doing quite well after all the stimulus programmes. So, on urban demand, the government needs to do something. Some brokerages have downgraded retail plays and even Trent to sell and there is mixed opinion out there. What would be the future of retail plays like Trent at Nuvama, which have already seen a fabulous run up? The valuations are still expensive after the current correction as well? Abneesh Roy: We are positive on Trent. We continue to have a buy and one of our top picks in the apparel space. In the near and medium term, Trent will remain in the top tier in the peer set in terms of growth. We do see a huge headroom for expansion in Zudio, in Westside, even in terms of the emerging categories like BPC, innerwear, footwear, that was around 20% of the business, and that is also growing.