Trade Financial News

Bandhan Bank has reported a 30% rise in net profit for the second quarter at Rs 937 crore against Rs 721 crore in the year ago period, on account of year-on-year improvement in asset quality and higher earnings. The loan-loss provision was at Rs 606 crore compared with Rs 636 crore in the corresponding period last year. Operating profit was Rs 1,855 crore, up 17% year-on-year, backed by 21% higher net interest income at Rs 2948 crore.

JSW Steel, the country’s largest producer of steel, saw its profit plunge 85% on year in the September quarter weighed down by weaker realisations, and a one-time loss. The steel-maker clocked in a consolidated net profit of Rs 404 crore in the Jul-Sep period as against Rs 2,773 crore a year ago. Revenue from operations were down by more than 11% on year at Rs 39,684 crore.

Nifty formed a long bearish candle on the weekly chart on Friday. Technically, this suggests that the markets are likely to remain under pressure in the near term. However, there is a possibility of a minor pull-back rally or sideways consolidation in the next 1 or 2 days after a sharp fall, which was witnessed in Friday’s trading session.

Asset Management Ltd, its CEO Radhika Gupta and fund manager Trideep Bhattacharya for violating mutual fund rules. Individually, penalty of Rs 8 lakh was levied on Edelweiss Asset Management and Rs 4 lakh each on Gupta and Bhattacharya, according to an order passed by Sebi. Also, they have been directed to pay the amount within 45 days.

Bank of Baroda (BOB) on Friday reported a 23.2% jump in its standalone net profit to Rs 5,238 crore for the quarter ended September 2024 as against a profit of Rs 4,253 crore in Q2FY24. The net interest income (NII) grew by 7.3% YoY to Rs 11,622 crore in Q2FY25.

Cryptocurrency prices showed a mixed performance on October 25, mirroring trends from the previous day. Major tokens such as Bitcoin, Ethereum, BNB, Dogecoin, Tron, Shiba Inu, and Chainlink experienced gains of up to 4.7%. In contrast, Solana, XRP, Toncoin, Avalanche, Polkadot, and Uniswap recorded losses of up to 3%. The global cryptocurrency market capitalization rose by 0.74%, reaching approximately $2.31 trillion over the past 24 hours. As of 3:08 p.m. IST, Bitcoin was trading at $67,492, reflecting a 0.97% increase, while Ethereum saw a slight rise of 0.1%, trading at $2,522.

Raamdeo Agrawal, Chairman & Co-Founder, Motilal Oswal Financial Services, says there are forces far bigger than the political circles playing into the market. The biggest force is the retail revolution, the inclusive development of the market where we are getting anywhere between 4-4.5 million customers. Last month, it was 4.35 million. The sustained flow of SIPs and even the block flows are providing a lot of resilience to the market and that is why this huge event of political upset has just gone by. Agrawal further says the real thing to watch out for the next 12 months is the earnings profile and how exactly the industries do and what are the factors which are impacting. Quarterly results might show just about 5-6% growth. All cylinders should fire in the second half. Q3 and Q4 should be better than the first half of the earnings. It has been a good Samvat here, whichever way you look at it. Raamdeo Agrawal: You cannot ask for more, in the sense that the index itself has done about 25-26% and on top of it, everybody's portfolio has done 5-6% better.

NMDC Ltd.(up 0.92%) stood among the top gainers.

Revenue from operations, meanwhile, jumped 14% year-on-year ( YoY) to Rs 16,970 crore in the reporting quarter.

Benchmark NSE Nifty closed 218.61 points down at 24180.8 amid selling in frontline bluechip counters.

fashion lovers are switching to secondhand to assuage worries about the industry's environmental impact. It is a tiny drop in a massive ocean, but hipster shoppers in the capital New Delhi say their example is slowly shifting the throwaway attitudes rampant among India's middle class. New Delhi is dotted with markets offering secondhand clothes, a thrifty alternative for those on low wages — or making an ethical choice.

Yes Bank is expected to report a robust set of numbers in the September ended quarter aided by a growth in the lender's loan book. The net interest income could grow between 11% and 23% in the range of Rs Rs 2,129 crore and Rs 2,359 crore. Meanwhile, the net profit may rise by up to 115% to Rs 4,843 crore. The estimates have been given by JM Financial, Nomura and Kotak Institutional Equities.

IDBI Bank reported a 39% jump in net profit for the second quarter of the fiscal at Rs 1836.5 crore against Rs 1323.3 crore in the year ago period, riding on steady business expansion and improvement in asset quality. Its net interest margin for the quarter improved by 54 basis points to 4.87% as compared with 4.33% in the corresponding period last year.

BPCL on Friday reported a standalone net profit of Rs 2,397 crore for the second quarter ended September 2024. This is a fall of 72% from Rs 8501 crore reported in the previous year quarter. Revenue from operations rose by marginal 1% to Rs 1.17 lakh crore in the reporting period as against Rs 1.16 lakh crore in the corresponding period of the previous year.

Indian rupee ended nearly unchanged on Friday, managing to hold its ground in the face of weakness in Asian peers and a fall in local stocks, on account of likely dollar sales by the Reserve Bank of India. The rupee closed at 84.08 against the U.S. dollar, close to its record low and nearly unchanged from its close of 84.0775 in the previous session. The currency was little changed week-on-week.

Market veteran Madhusudan Kela says that within one market, a severe bear market and a severe bull market are going on simultaneously. The question is, do we have the ability to identify and spot real good sectors and real good companies? Also we have to recognise that in all of this allocation, expectation has to be moderate. From my perspective, return of capital is the first priority. Return on capital is the second priority. If you are intoxicated believing the bull market is going on and you can do anything, that phase is over. It is good to see you laughing and everybody in the last 12 months has been laughing. If you bought real estate, you have made money. If you had gold and silver, you would have been happy. And if you were in the equity market, you have every reason to smile. It has been a year of full all-round prosperity. Madhusudan Kela: It is not only one year. I would say from the COVID bottom, the last three-four years have been very good. If you look at the CAGR compounding of a small cap index or mid cap index, it is above 40%. Even Nifty from the low has compounded reasonably well. And stock pickers have had a phenomenal run in the last three-four years. It is in this context we are chatting today.

«So, it is a mix of both large as well as mid and smallcap stocks where we see that the valuation are reasonable or the growth should pick up,» says Abhijeet Bora, JM Financial Services Ltd. This Diwali has become a bit sombre with the kind of cuts we have seen in the market. It looks like 6% at the index level in this month but if you look at the smallcap, midcap and portfolio level, the cuts are much larger. Given all of that and given we have got a healthy correction, do you have a shopping list ready of some of the stocks that people can look at buying? Abhijeet Bora: Yes, we have recently released our Diwali picks where we have around 10 stocks. It is a mix of both large and midcap and across various sectors. So, starting with largecap space, we like Reliance Industries, we like Power Grid, we like Jindal Steel, we like Bajaj Finance in the largecap space. And there are a few midcap companies like Gravita is there, Ashoka Buildcon is there. So, it is a mix of both large as well as mid and smallcap stocks where we see that the valuation are reasonable or the growth should pick up.

JSW Steel Ltd on Friday reported 84% decline in its consolidated net profit at Rs 439 crore in the second quarter, compared with Rs 2,760 crore in the last year quarter. Revenue from operations in the reporting period fell 11% year-on-year to Rs 39,684 crore.

Subscribe to enjoy similar stories. Mumbai: The exuberance in derivatives trading is finally showing signs of waning after several warnings and a phased crackdown by India’s markets regulator. Trading in equity index options moderated in September, just before the Securities and Exchange Board of India on 1 October finalised proposals to curb frenzied trading by individual or retail investors.

Colgate-Palmolive (India) Ltd. fell 3.88 per cent to Rs 3090.9 in Friday's session as of 01:44PM (IST) even as the equity benchmark Sensex traded 787.68 points lower at 79277.48. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3893.0 and a 52-week low of Rs 2003.65 on NSE. Around 18766 shares changed hands on the counter till 01:44PM (IST).

Vedanta Ltd. dropped 3.0 per cent to Rs 454.65 at 01:49PM (IST) in Friday's trade. The scrip has hit a high of Rs 472.1 and low of Rs 449.3 so far during the session. The stock had closed at Rs 468.75 in the previous session. The counter has had a total traded volume of 294719 shares so far with a value of Rs 13.48 crore on the NSE. It traded at a price-to-earnings multiple of 34.21 and a price-to-book ratio of 3.29.