9:31 AM
Vodafone Idea off highs; Board to meet on April 6 for fund raise
>> VIL, post market hours on Wednesday, said that the telecom services provider will hold a board meet on Saturday, April 6, to consider issuing equity or convertible securities worth Rs 2,075 crore on a preferential basis to one or more promoter group entities.
9:29 AM
KEC International advances nearly 9% on order win worth Rs 816 crore
>> KEC International has secured new orders of Rs 816 crore across its various businesses, including Civil, Mining, Transmission and Distribution, and Cables.
9:28 AM
Avenue Supermarts surges 4% as revenue grows 20% YoY in Q4
>> The company’s standalone revenue from operations stood at Rs 12,393.5 crore, up 19.9 per cent Y-o-Y in Q4FY24.
9:26 AM
Buzzing stock :: Suryoday SFB zooms 13% on solid Q4 growth
>> At the end of March 2024, the bank’s gross advances stood at Rs 8,650 crore, up 41 per cent Y-o-Y. Total deposits, on the other hand, were up 50 pec cent Y-o-Y to Rs 7,775 crore. Loan disbursements in the reporting quarter were up 39 per cent Y-o-Y at Rs 2,340 crore.
9:24 AM
RBL Bank off highs, still up 2% post Q4 update
>> The lender’s deposits increased 22 per cent year-over-year (Y-o-Y) to Rs 1.03 trillion in Q4FY24. Its loan advances, meanwhile, jumped 19 per cent Y-o-Y to Rs 85,640 crore.
9:02 AM
Brokerages expect a gradual recovery in advertising revenues for Sun TV
The stock of Sun TV Network is down 17 per cent from its January highs on weaker-than-expected December quarter performance, delays in the pickup of advertising revenues, and a cut in earnings expectations. Brokerages are positive on the stock given its attractive valuations and expect a re-rating if there is value unlocking for its IPL franchise. READ MORE
8:58 AM
Blackstone to invest $2 bn annually in India with primary focus on infra
US-based private equity (PE) giant Blackstone Group, which has already invested $50 billion in India, plans to inject an additional $25 billion into the country’s economy in the years ahead, with primary focus on infrastructure, data centres, and logistics. READ MORE
8:55 AM
Govt hikes windfall tax on crude to Rs 6,800 for 5th time since Feb
The Indian government has raised its windfall tax on petroleum crude for the fifth time since February to Rs 6,800 ($81.43) a metric tonne from Rs 4,900 with effect from April 4, the government said in a notification on Wednesday. READ MORE
8:52 AM
ALERT :: HDFC Bank posts Q4 business update
>> The Bank’s gross advances aggregated to approximately Rs 25,080 billion as of March 31, 2024 — up 55.4% Y-o-Y/1.6% Q-o-Q
>> Domestic retail loans grew by around 108.9% Y-o-Y/around 3.7% Q-o-
>> Corporate & other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by around 4.1% Y-o-Y/down around 2.2% Q-o-Q
>> The Bank’s deposits aggregated to approximately Rs 23,800 billion as of March 31, 2024 — 26.4% Y-o-Y/7.5% Q-o-Q
>> Retail deposits grew by around 27.8% Y-o-Y/ 6.9% Q-o-Q
>> The Bank’s CASA deposits aggregated to approximately Rs 9,090 billion as of March 31, 2024 — up 8.7% Y-o-Y/around 8.8% Q-o-Q
