Trade Financial News

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.

Reliance Industries Ltd (RIL) reported an 11.9% rise in consolidated net profit in December quarter, driven by its energy, retail and digital services units, beating analyst estimates. Consolidated profit after tax rose to ₹21,804 crore from ₹19,488 crore in the year earlier. Net profit attributable to owners of the company was up 7% to ₹18,540 crore from ₹17,265 crore a year earlier. A Bloomberg survey of analysts had pegged profit at about ₹18,326 crore. Revenue from operations increased 7% to ₹2.43 lakh crore from ₹2.27 lakh crore in the year earlier. Consolidated ebitda increased by 7.8% to ₹48,003 crore. «It gives me great pleasure to see Reliance grow exponentially over the years and set new benchmarks that demonstrate the inherent strength and resilience we have across all our businesses,» said Mukesh Ambani, chairman and MD of RIL. «The delivery of record ebitda and profit after tax at a consolidated level for this quarter is a testament to this.»

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GTRI) said Thursday.

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.

In a heated Senate confirmation hearing for Pete Hegseth, Sen. Tammy Duckworth grilled the proposed defense secretary over the Association of Southeast Asian Nations, asking him if he could name one member and how many countries were in the bloc

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.

RBI) has allowed overseas branches of banks to open rupee accounts for people residing outside India in the latest move towards the internationalisation of the rupee.

The association's letter to the regulator focused on two main areas: the role of platforms under Consumer Duty as well as the importance of board independence for investment trusts. Proxy voting advisers side with Herald board to vote against Saba Capital AIC chief executive Richard Stone said the trade body is «concerned» that current regulations «do not protect the interests of retail shareholders». Retail investors, who hold a high percentage of shares in the investment trusts targeted by Saba, have to rely on investment platforms to receive information about the proposed change...

U_S_ Treasury nominee Scott Bessent plans to say at his confirmation hearing that President-elect Donald Trump has an opportunity to unleash “a new economic golden age.”

LONDON — Freetrade, a British rival to popular stock trading app Robinhood, said Thursday that it's been acquired by online investing platform IG Group.

Subscribe to enjoy similar stories. Srinagar: The first-ever rail service connecting Srinagar with the rest of the country is set to launch this month, connecting India’s northernmost region like never before. The much-anticipated Udhampur-Srinagar-Baramulla Railway Project (USBRL) promises to transform the Kashmir Valley by seamlessly integrating Kashmir with the rest of India.

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.

Tasty Bite Eatables Ltd.(up 4.16%), Gopal Snacks Ltd.(up 4.03%), Sheetal Cool Products Ltd.(up 3.27%), JHS Svendgaard Laboratories Ltd.(up 2.91%), Euro India Fresh Foods Ltd.(up 2.89%), Varun Beverages Ltd.(up 2.54%), Parag Milk Foods Ltd.(up 2.25%), Godrej Consumer Products Ltd.(up 1.85%), Dangee Dums Ltd.(up 1.75%) and Honasa Consumer Ltd.(up 1.61%) stood among the top gainers.

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.

stocks rallied as much as 15% in Mumbai trading on Thursday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, 52 Weeks Entertainment(20.00%), Aeroflex Industries(20.00%), Mahindra EPC(20.00%), Brand Concepts(19.99%), DHP India(19.99%), Silverpoint Infratech(19.94%), G G Automotive Gears(19.78%), Bhartia Bachat(19.52%), Active Clothing Co(16.78%) and Ircon Intl.(16.03%).

The NSE Nifty index ended the session 98.6 points up at 23311.8, while BSE Sensex 318.74 points to 77042.82.

Shares of Brigade Enterprises Ltd.(up 3.09 per cent), Godrej Properties Ltd.(up 2.47 per cent), Mahindra Lifespace Developers Ltd.(up 1.56 per cent), DLF Ltd.(up 0.83 per cent) and Prestige Estates Projects Ltd.(up 0.73 per cent) ended the day as top gainers in the pack.

Indian Oil Corp (IOC) is seeking high-sulphur oil from the spot market in its first sour crude import tender since March 2022, expecting the latest U.S. sanctions to hit supplies from Moscow, trade sources said on Thursday.

Former Congressional Budget Office director Doug Holtz Eakin explains the impact that tariffs would have on the Canadian economy and shares his thoughts on President-elect Trumps agenda and the House speakership vote.

Shares of Biocon Ltd.(up 2.91 per cent), Natco Pharma Ltd.(up 2.01 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 1.1 per cent), Granules India Ltd.(up 1.1 per cent) and Aurobindo Pharma Ltd.(up 0.77 per cent) ended the day as top gainers in the pack.