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22 Jan

HDFC Bank Q3 results: Profit may rose to 3%, NII 6-8%; know what to watch out for

Business CorrespondentBusiness, News

HDFC Bank Q3 results: The largest private lender is likely to report a 0-3 percent rise in net profit for the December quarter, while net interest income (NII) will grow 6-8 percent. Provisions may rise sequentially, but decline on a year-on-year (YoY) basis. Net interest margin (NIM) may remain stable, banking analysts said, adding that management commentary on loan growth will be closely watched later today. Axis Securities expects HDFC Bank to report a 2.2 per cent year-on-year (YoY) rise in net profit at Rs 16,737 crore for the December quarter, as against Rs 16,373 crore in the same quarter…

21 Jan

Airtel and Bajaj Finance forge partnership to boost digital financial services

Business BureauBusiness

Bharti Airtel and Bajaj Finance have entered into a groundbreaking partnership to create one of India's largest digital platforms for financial services, aimed at transforming the last-mile delivery of financial products and fostering digital inclusion across the country. Airtel, with its 375 million strong customer base, will progressively offer Bajaj Finance’s retail financial offerings through the Airtel Thanks App and its extensive network of stores. The partnership combines Airtel’s robust digital platforms and distribution capabilities with Bajaj Finance’s diverse suite of 27 products and its AI-driven strategy for efficient credit underwriting. Gopal Vittal, Vice Chairman and MD of Bharti Airtel,…

21 Jan

Zomato Q3 results: Net profit decrease 57.2% to Rs 59 crore as against Rs 138 crore a year ago; shares fall

Business CorrespondentBusiness, News

Zomato Q3 results: Zomato on Monday reported a 57.24 per cent drop in its net profit to Rs 59 crore for the December 2024 quarter (Q3 FY25), according to a regulatory filing. Following this, its shares declined 7 per cent intra-day and closed at Rs 240.95 per share, down 3.14 per cent from the previous day.However, the food delivery platform's revenue grew 64 per cent to Rs 5,405 crore during October-December 2024 as against Rs 3,288 crore in the same period a year ago.Importantly, its quick commerce Blinkit, which had kept Zomato profitable in previous quarters, has reported an EBIT…

20 Jan

Havells India shares upsurge despite marginal drop in third quarter net profit

Business CorrespondentBusiness, News

Havells India Ltd shares jumped on January 20 despite the company reporting a marginal drop in net profit in the December quarter. The home appliance maker's profit fell to Rs 283 crore from Rs 288 crore a year ago in the quarter ended December 31. Havells' revenue from operations rose nearly 11% to Rs 4,883 crore, while total expenses rose 12.3% to Rs 4,564 crore. Havells India shares were trading 1.5% higher at Rs 1,598 per share at 1:35 pm on January 20. This performance reflected strong demand from its switchgear project business, but it suffered inventory de-stocking in wires…

20 Jan

Maruti Suzuki e VITARA powers India’s EV market growth

Business BureauBusiness

Maruti Suzuki India Limited (MSIL) has launched its first Battery Electric Vehicle (BEV), the e VITARA, at the Bharat Mobility Global Expo 2025, showcasing its commitment to decarbonisation and mobility for all. Built on the new HEARTECT-e platform, the e VITARA promises superior performance, an impressive range of over 500 km, and a host of premium features including Level 2 ADAS and next-gen connectivity. Mr. Toshihiro Suzuki, President of Suzuki Motor Corporation, emphasized the company's strategy to make BEVs appealing through dedicated platforms and tailored products, with India chosen as the global manufacturing hub. MSIL's Managing Director, Mr. Hisashi Takeuchi,…

18 Jan

Royal Stag BoomBox returns with electrifying third edition, set to redefine music festivals

Business BureauBusiness

Seagram’s Royal Stag BoomBox is back for its third edition, blending the soulful melodies of Bollywood with the high-energy beats of hip-hop. The immersive music festival, which has captivated audiences in its previous two editions, will tour across major youth hubs – Hyderabad, Mumbai, Gurugram, and Guwahati. This year's star-studded lineup includes Armaan Malik, Amit Trivedi, Neeti Mohan, Raftaar, Ikka, and DJ Yogii, promising an unforgettable experience for music lovers. The festival is not just about live performances but also offers interactive experiences like art installations, AR/VR technology, and AI-powered personalization. In a first, Royal Stag BoomBox will integrate gaming…

18 Jan

Havells shares upgrade, company’s Q3 revenue rises 10% to Rs 4,889 crore

Business CorrespondentBusiness, News

Havells India shares jumped 1.08% on January 17 after the company announced its Q3 results on January 16. The company's revenue from operations grew 10% to Rs 4,888.98 crore in Q3 FY25 as against Rs 4,413.86 crore in Q3 FY24. The shares opened 0.79% lower at Rs 1,544.95 and later recovered from the losses by hitting an intraday high of Rs 1,617.95 in the early morning hours of January 17. The stock later pared some gains and traded at Rs 1,574.15. Though the company reported a rise in revenue, its net profit declined to Rs 278 crore in Q3 FY25.…

17 Jan

Infosys reports 11.4% upsurge in October-December quarter

Business CorrespondentBusiness, News

The company's revenue grew 7.6 per cent to Rs 41,764 crore in the third quarter as against Rs 38,821 crore in the same quarter last year.India's second-largest IT services firm Infosys Ltd on Thursday reported an 11.4 per cent rise in net profit for the December quarter (Q3) of FY25 at Rs 6,806 crore as against Rs 6,106 crore in the same quarter last year.The company's revenue grew 7.6 per cent to Rs 41,764 crore in the third quarter as against Rs 38,821 crore in the same quarter last year.Infosys has raised its constant currency (CC) revenue growth guidance for…

17 Jan

Popular Bar Chain Closes Three More Locations Amid Financial Struggles

editorBusiness

The New World Trading Company, operator of The Botanist bars, has announced the closure of three additional sites in Coventry, Sheffield, and Chester. This decision is part of an ongoing restructuring effort due to financial challenges exacerbated by the COVID-19 pandemic, rising inflation, and the cost-of-living crisis. These closures follow three others in October 2024, including The Florist in Liverpool and Botanist locations in Knutsford and Alderley Edge. The hospitality sector continues to face significant hurdles, with major names like BrewDog and Stonegate also affected. Industry analysts predict further store closures and job losses in 2025 as businesses grapple with…

16 Jan

Wholesale inflation increase to 2.37% in December

Business CorrespondentBusiness, News

India's wholesale inflation rose in December, led by a surge in prices of various commodities. The wholesale price index rose 2.37% in December, compared to 1.89% in November, according to data released by the Ministry of Commerce and Industry on Tuesday. On a sequential basis, the index declined 0.38%, compared to a 0.5% decline in the previous month. Global commodity prices have risen slightly so far in January 2025 compared to December 2024. ICRA Chief Economist Aditi Nayar said the average price of the Indian basket of crude oil rose 5.8% month-on-month during January 1-13, 2025, especially amid tighter US…