Trade Financial News

₹3,825 crore, up from ₹3,158 crore in the same period last year. The consolidated figures encompass the operations of its subsidiaries, Bajaj Housing Finance and Bajaj Financial Securities.On an individual basis, the net interest income for Q4FY24 surged by 29% to ₹7,340 crore from ₹5,669 crore in Q4FY23. The net total income on a standalone basis for Q4FY24 increased by 25% to ₹8,904 crore from ₹7,105 crore in Q4FY23.As of March 31, 2024, the gross non-performing assets (NPA) were reported at 0.85%, a decrease from 0.94% in the same period last year.

HDFC Bank, Reliance Industries and IT stocks. The BSE Sensex was trading 87 points or 0.12% higher at 74,424. Nifty50 was trading at 22,598, up 28 points or 0.12% at around 9.23 am.

The Nifty future closed positive with gains of 0.72% at 22575 levels on Thursday. India VIX was up by 4.38% from 10.28 to 10.73 levels.

Sandip Sabharwal, asksandipsabharwal.com, says the Axis Bank stock needs to get re-rated higher. It trades at 1.8 times book while most of the other large private sector banks are more near 2.7 to 3 times. It trades at valuations which are 35% cheaper than HDFC Bank while on most parameters it is doing maybe as well or better in terms of gross NPAs, net NPAs, provision coverage, return on equity across the board. Disadvantage Kotak is turning out to be advantage with good numbers from Axis and the entire PSB bank pack is also holding out very smartly. SBI had a solid 4.25% move, the smaller ones are holding out well. What is it that you have made of the RBI move on Kotak banning addition of credit cards as well as online accounts and Axis numbers as well?

Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence across its cloud services, and the company's shares jumped more than 4% in extended trade. Executives forecast ranges for current quarter cloud revenue that were mostly above Wall Street targets.

As BlackRock’s 71-day ETF inflow streak comes to an end, the Bitcoin market faces new uncertainties.  Despite a modest increase to $64,165, Bitcoin’s trading dynamics hint at potential volatility. This update provides a Bitcoin price prediction in light of recent financial shifts.

“Investors placed more bullish bets on the monthly F&O expiry day, which saw benchmark indices rally for the fifth straight session led by gains in frontline banking and metal stocks. Even the fall in other Asian and European indices and US Dow Futures witnessing a sharp fall too didn't deter local investors," Prashanth Tapse, Senior Vice President (Research) at Mehta Equities said.

Axis Bank and other banking stocks. While the S&P BSE Sensex settled at 74,339.44, up by 486.50 points or 0.66%, the broader Nifty closed at 22,570.35, gaining 168 points or 0.75%. In today's trade, shares of Maruti Suzuki, Bajaj Finserv, HCL Technologies, Eveready Industries, SBI Cards and Payment Services, SBI Life Insurance Company, Vedanta and Bajaj Finance among others will be in focus due to various related developments or quarterly earnings.

traders appear to have scaled back their bets on the world's largest cryptocurrency as its two major tailwinds subside. The Bitcoin funding rate — the premium paid by traders to open new long positions in the token's perpetual futures market — on April 19 turned negative for the first time since October 2023, CryptoQuant data shows.

illicit trade and unmanned aerial vehicle (UAV) transfer on behalf of the Iranian military, the US Department of Treasury said in an official statement. These companies, individuals and vessels have played a key role in financing and facilitating the clandestine sale of Iranian unmanned aerial vehicles (UAVs) to Russia’s war in Ukraine, it said. According to the US Department of Treasury, Sahara Thunder is the main front company that oversees Iran's commercial activities in support of these efforts.

Shares offered in the Vodafone Idea follow on public offer (FPO) listed at ₹11.8 apiece on the NSE on Thursday, about 7.3% above the FPO price of ₹11. The shares were listed at ₹12 on BSE and closed at ₹13.8, after a gain of 5.3%. Thursday was also the day when the highest ever quantity of Vodafone Idea shares were traded. After the offer, the company's market capitalisation was at ₹91,747.17 crore on Thursday. «A lot of HNIs and retail investors had subscribed to the FPO with an arbitrage point of view,» said Jimeet Modi, founder, Samco Securities. «They have locked their gains and booked profits and moved on from the company.»

made minority equity investments into FMX Futures, valuing it at $667 million, BGC said in a statement on Thursday. FMX currently offers trading in cash U.S. Treasuries and spot currencies.

Stocks that are trading heavily or have substantial price changes on Thursday: Meta Platforms, O’Reilly Automotive fall; Chipotle, TransUnion rise

Adani Green Energy, which is looking to develop a 25 gigawatt portfolio by 2025, is in advanced talks with Rabobank, MUFG, SMBC and DBS for a $400 million loan, according to people familiar with the development. The loan is likely to be priced at a secured overnight financing rate (SOFR) plus 250 basis points with a five-year tenor, they said. A basis point is a hundredth of a percentage point. The renewable energy arm of Adani Group will use the funds for capital expenditure, said one of the persons, who did not wish to be identified.

Hilton portfolio, and the chain expects to achieve that same level of success in the India market in the coming years, Chris Silcock, president, global brands and commercial services at Hilton told ET in an interview. Silcock said the chain is 'exceptionally' bullish on the sector and that is supported by its results. «Last year was a record year for us in signings and we added more rooms to our portfolio on a global basis in Q4 than in any year in over 100 years of our history,» Silcock said. «We opened over 130 hotels in Q4 of 2023 and we now have a pipeline of over 3,000 hotels, and half a million rooms. So, on a global basis, we feel very bullish.» Hilton aims to have 75 trading and in-pipeline hotels in India by 2027. It operates 26 hotels in India and there are 20 more in the pipeline.

economic performance" continues to be backed by resilient growth, robust economic activity indicators, price stability and steady external sector performance, the finance ministry said Thursday. However, geopolitical tensions such as those roiling West Asia, remain a concern although risk perceptions over them have softened, offering a potential upside for growth, the ministry said in its monthly economic report for March. The global economic landscape is seeing a gradual resurgence, with fading fears of recession and rebounding growth in major economies, it said. But regional disparities in terms of the pace of growth still exist. India continues to exhibit a robust economic performance, despite global uncertainties, due to factors such as strong domestic demand, robust investment and sustained manufacturing momentum, the ministry said.

major railroads promised to join after last year's disastrous Norfolk Southern derailment in Ohio. “Rail workers deserve to know they’re safe when they’re on the job — and if they experience anything that compromises their safety, they should be able to report it without worrying if their job is in jeopardy," said Transportation Secretary Pete Buttigieg.

Gold prices today: The yellow metal trimmed gains on Thursday, April 25, as US Treasury yields rose after gross domestic product (GDP) data showed signs of persistent core inflation, which in turn, lowered expectations of the Federal Reserve cutting interest rates anytime soon. Spot gold firmed 0.3 per cent at $2,321.70 per ounce after rising as much as 0.8 per cent earlier in the session. Prices were down over $100 from an all-time high of $2,431.29 scaled on April 12, fueled by geopolitical turmoil.

Also read: Tata Steel CEO TV Narendran says UK job cuts ‘least bad option,’ will continue talks with unions Discussions will continue with the trade unions over the next two weeks on a potential Memorandum of Understanding on the future ambitions of the business and the impact of the restructuring on employees, the company further added. "Having looked carefully at all the options over the past seven months in consultation with union representatives, we have decided to proceed with our proposed restructuring and transition," Tata Steel managing director TV Narendran said.

regulatory clarity on cryptocurrency trading in India and proposing that the government drafts legislation for monitoring digital assets as global financial hubs such as the US, UK and Hong Kong embrace crypto assets as legitimate trading instruments. “As more than 80% of G20 members and financial hubs are offering regulatory clarity on crypto assets, there’s an urgent need for a globally coordinated, clear policy framework on digital assets to mitigate risks and foster innovation,” the Bharat Web3 Association (BWA) said in a press note on Thursday.

Digital asset technology firm Crossover Markets has released impressive performance data for Q1 2024 from its flagship digital assets platform, CROSSx.