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₹16,372.5 crore in the December quarter as net interest income showed a healthy increase. This figure handsomely beat estimates by 19 analysts polled by Bloomberg, who expected it to post a net profit of ₹15,762 crore in the quarter. The bank’s net interest income–the difference between interest earned and interest expended–grew 23.9% y-o-y to ₹28,471.3 crore.

Reliance Power, Unitech and Reliance Capital (2008). You will note that these are often very popular stocks that rally purely based on narrative. Their valuations are completely out of whack with reality, and yet, money continues to chase such stocks.

Also Read: Government cuts windfall tax on crude petroleum to ₹1,700/tonne effective tomorrow Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a January 19 expiry, was last trading 0.72 per cent higher at ₹6,051 per bbl, having swung between ₹5,969 and ₹6,109 per bbl during the session, against a previous close of ₹6,008 per barrel. -Analysts say that oil prices may find a ceiling unless production is shut in. Oil markets are still sensitive to tensions in the Middle East, but the base case remains that we'll see no significant disruption to flows, according to OANDA analysts.

OpenAI's CEO Sam Altman on Tuesday said an energy breakthrough is necessary for future artificial intelligence, which will consume vastly more power than people have expected. Speaking at a Bloomberg event on the sidelines of the World Economic Forum's annual meeting in Davos, Altman said the silver lining is that more climate-friendly sources of energy, particularly nuclear fusion or cheaper solar power and storage, are the way forward for AI.

Hutchinson dropped his long-shot bid for the Republican presidential nomination on Tuesday, ending a candidacy that served as a throwback to an earlier era of the GOP but ultimately failed to resonate in a party now dominated by Donald Trump. Hutchinson's exit came a day after he finished sixth in Iowa's leadoff caucuses, well behind Trump and other top rivals but also behind Ryan Binkley, a pastor who failed to qualify for any of the debates. Hutchinson was the last GOP candidate remaining in the race who was willing to directly take on Trump. «I congratulate Donald J Trump for his win last night in Iowa and to the other candidates who competed and garnered delegate support,» Hutchinson said in a statement. «Today, I am suspending my campaign for President and driving back to Arkansas. My message of being a principled Republican with experience and telling the truth about the current front runner did not sell in Iowa.»

CCI on Tuesday cleared the proposed combination involving the merger of various entities of the Shriram Group. The proposed combination relates to the amalgamation of Shriram GI Holdings Pvt Ltd with Shriram General Insurance Company Ltd. Shriram General Insurance Company is a joint venture between Shriram Capital and Sanlam Ltd (South Africa). It is an Irdai-licensed company, offering a wide range of general insurance solutions.

US Navy SEALs seized Iranian-made missile parts and other weaponry from a ship bound for Yemen's Houthi rebels in a raid last week that saw two of its commandos go missing, the US military said Tuesday. The raid marks the latest seizure by the US Navy and its allies of weapon shipments bound for the rebels, who have launched a series of attacks now threatening global trade in the Red Sea and Gulf of Aden over Israel's war on Hamas in the Gaza Strip. The seized missile components included types likely used in those attacks.

NEW DELHI : Brokerage house ICICI Securities on Tuesday reported a 66 per cent year-on-year jump in Profit After Tax (PAT) to ₹465.7 crore in three months ended December 2023. In comparison, the company had posted a PAT of ₹280.9 crore in the October-December quarter of the preceding fiscal (FY23), ICICI Securities, a part of ICICI Group, said in a regulatory filing.

Goldman Sachs’ profits jumped 51% from a year earlier, the investment banks said Tuesday, helped by the strong returns in the overall market in the last three months of the year

The company registered a revenue of Rs 1,323.3 crore in the quarter under review, marking a 50% year-on-year (YoY) surge from Rs 879.9 crore in the three months ended December 31, 2022. The increase in revenue was led by growth in broking income in the cash segment along with the investment banking segment. «We continue to grow with our focus on the acquisition of quality clients, gaining market share in revenue-generating segments, growing our distribution business, enhancing customer experience and continued investment in enhancing franchise as well as technology.

interim budget on February 1. This means less likelihood of any major announcement or showering of freebies on the poor. The government is also likely to slow the pace of capital expenditure to rein in fiscal deficit. The fiscal deficit target of 5.3% will be set by the government in FY25, keeping in view the fiscal consolidation path till FY26, as it normalises capital spending and refrains from any major announcements in the interim budget before the general elections, Icra and Barclays economists have said. ICRA expects the fiscal deficit target for FY25 to be set at 5.3% of GDP, midway through the expected print of 6.0% for FY2024 and the medium-term target of sub-4.5% by FY26. India has set a target of a 5.9% fiscal deficit for FY24. The interim budget is expected to follow the tradition and just seek a vote on account, Parliament’s nod for a grant in advance to meet the Centre’s essential expenditure for the first four months of FY2024-25. But the government may not totally ignore pressing issues that demand action especially just months before elctions. One such issue of economic as well as electoral importance is sluggish rural demand as the poor in India's rural areas are hit more by rising prices. The government may not wait till the full budget to address the issue and might declare welfare schemes for the rural poor in the interim budget.

mandis, the company informed in a media release. «Aimed at facilitating farmers, traders, FPOs as well as corporate entities involved in quality check of the food grains. a total of 31 centreshave been opened in the initial phase across Delhi and Madhya Pradesh.

The use of messaging apps has become a major talking point in the financial services industry following the eye-watering fines given to some big names in the industry, totaling more than $2.5 billion.  

This will be another year of transition at the four wirehouses – Merrill Lynch, Morgan Stanley, Wells Fargo Advisors, and UBS – as each seeks to find stability after last year’s significant changes.  

In the increasingly competitive world of wealth management and investment advisory services, having a strong brand is key.

OTTAWA (Reuters) — Canada's annual inflation rate rose to 3.4% in December from 3.1% in November, data showed on Tuesday, a sign of stubborn inflation ahead of next week's interest rate decision.

Investing.com — U.S. futures retreated Tuesday, as risk appetite fell while investors digested earnings from more senior banks.

Mint. "Wedding professionals have reported a 15-22% increase in their business year-on-year from 2022 to 2023, coming off the back of the rise in destination weddings. The customer base is also evolving which is paying more and more attention to detail," Shahani added.

₹ 3,605.7, hit on Monday. On Tuesday, L&T said that its construction arm has bagged a “mega" order, valued between ₹ 10,000 crore and ₹ 15,000 crore for constructing a high-speed electrification system for the Mumbai-Ahmedabad bullet train project. This significant domestic contract is expected to bolster L&T’s order book and revenue stream.

₹1,694.35 in the previous session, on January 15. With that, it has now rallied over 71 percent from its 52-week low of ₹990.25, hit on February 1, 2023. The private sector lender reported a 22 percent year-on-year (YoY) rise in the September quarter standalone net profit to ₹2,181.5 crore on the back of higher income and lower provisions.

Emerging-market stocks have dropped in the first half of January, something that hasn’t happened since 2016. Sentiment has taken a knock from growing uncertainty about when the Federal Reserve will begin to loosen monetary policy, with traders keenly awaiting a speech by Fed Governor Christopher Waller later Tuesday for insights. Meanwhile, investors are scrambling to price a host of geopolitical events from the Middle East to the US, where markets are weighing a potential return of Donald Trump to the White House. MSCI Inc.’s index of developing-nation stocks slumped 1.2% on Tuesday, the most in almost two weeks, to trade at its lowest since Dec. 14 and extending its January declines to 4%. The currency index was led lower by South Korea’s won and the rand as a gauge for dollar strength rose to a one-month high. The last two comparable bad starts to a year have preceded major emerging-market rallies. In 2016, the January slump followed the first Fed rate hike in almost a decade. Higher US rates sparked a brief capital flight from riskier assets, leading to an 11% plunge by mid-January of 2016. However, things soon turned around as investors chased cheaper valuations, and EM stocks began a two-year, $8.3 trillion rally. Something similar happened in 2009. The Fed dropped benchmark interest rates to near zero in December 2008, but investors fretted over the lingering effects of the global financial crisis and continued to dump emerging-market stocks well into January. Months later, as the US began a bull market, sentiment toward EM improved too, driving the MSCI gauge 75% higher over 2009. Easing Volatility Underpins Case for Emerging-Market Rebound