News Archives - Page 3 of 14 -

19 Oct

L&T Finance Q2 net profit expansion 16.8% to Rs 695 crore, total revenue up 25%

Priyanka Roy0 CommentsBusiness, News

L&T Finance Limited reported its financial results for the quarter ended September 30, 2024, with total revenue from operations growing 25% year-on-year to ₹4,019.34 crore from ₹3,213.84 crore in Q2 FY24. The growth was driven by higher interest income, fee and commission income across its key business segmentsThe company's net profit grew 16.8% to ₹695.58 crore compared to ₹595.11 crore in the same period last year, while its profit before tax stood at ₹939.57 crore, up 17.8% from ₹797.39 crore in Q2 FY24.Total comprehensive income also witnessed a significant growth, rising 19.1% year-on-year to ₹700.79 crore.Earnings per share (EPS) witnessed…

18 Oct

Hindustan Zinc Q2 results preview: Profit may expansion 30-36%; higher zinc, silver prices to drive sales growth

Priyanka Roy0 CommentsBusiness, News

Hindustan Zinc Ltd (HZL) is set to announce its results for the September 2024 quarter (Q2FY25) and first half of current fiscal year (H1FY25) on Friday, October 18.Hindustan Zinc Ltd (HZL) is set to announce its results for the September 2024 quarter (Q2FY25) on Friday, October 18 as the analysts tracking the stock believe that the metal player is likely to report a strong set of numbers on a year-on-year (YoY) comparison, while the numbers may remain flattish or muted on quarter-on-quarter (QoQ) basis.Brokerages are expecting net profit, Ebitda and revenue to rise sharply on yearly comparison but mild pressure can…

17 Oct

RIL Q2 net profit plunge 5% due to weak performance in O2C business

Priyanka Roy0 Commentsbusiness, News

Reliance Industries Ltd reported consolidated net profit in the second quarter declined by 4.77% to ₹ 16,563 crore from ₹ 17,394 crore in the same period last year, due to weak contribution from the oil-to-chemicals (O2C) business.Gross revenue for the quarter ended September 30, 2024 grew 0.8% year-on-year (YoY) to ₹258,027 crore.While O2C business revenue grew 5.1% on the back of higher volumes and increased home placement of products, EBITDA declined 23.7% to Rs 12,413 crore due to a sharp drop in product margins. Fuel cracks declined by nearly 50%, the company said in a filing."Downstream chemicals also declined due…

16 Oct

Hathway Cable shares expansion 3% after Q2 profit, revenue rise

Priyanka Roy0 Commentsbusiness, News

Shares of Hathway Cable & Datacom rallied over 3 per cent on October 14 after the cable television distribution company reported strong earnings for the quarter ended September 30, 2024 (Q2FY25).Hathway Cable & Datacom is one of the largest multiple-system operator (MSO) and cable broadband service providers in India. It provides cable television services through its wholly-owned subsidiary - Hathway Digital Pvt.Hathway Cable has an all-India ISP license and was the first cable television service provider to offer high-speed cable broadband services.The company said its net profit grew 28.4 per cent to Rs 25.8 crore in the same quarter last…

15 Oct

Thalassemia, TB, asthma medicines prices likely to upgrade

Priyanka Roy0 CommentsBusiness, News

New Delhi: Prices of several essential medicines used in the treatment of ailments such as asthma, glaucoma, thalassemia, tuberculosis and mental health disorders are expected to rise with the government approving a 50% increase in their maximum price.About the reason behind this decision, the government said in a statement on Monday, “The National Pharmaceutical Pricing Authority (NPPA) had been receiving applications for price increase from manufacturers citing various reasons such as rising cost of active pharmaceutical ingredients, increase in production cost, change in exchange rates, and more, resulting in the unviability of continued production and marketing of medicines.Companies have also…

14 Oct

HDFC Bank shares rise 2% ahead of Q2 results. What should investors do?

Priyanka Roy0 CommentsBusiness, News

Shares of HDFC Bank, the country's largest private lender, jumped over 2% in early trade as it prepares to announce its Q2 results on October 16. The stock was trading 2.11% higher at Rs 1,685 on the Bombay Stock Exchange (BSE), contributing significantly to the early inflation on Dalal Street. Investors are showing more interest in HDFC Bank shares, expecting a positive performance in the upcoming quarterly results.Brokerage firm Arihant Capital, which maintains a buy rating on the stock, said it is trading sideways after six days of decline. The firm predicted a "pullback rally" and highlighted that the momentum…

09 Oct

Rupee rose 2 paise to 83.97 in early trade

Priyanka Roy0 CommentsBusiness, News

Foreign institutional investors (FIIs) were net sellers in the capital market on Friday, selling shares worth Rs 9,896.95 crore on a net basis in the cash segment, according to exchange data.The rupee rose by 2 paise to 83.97 against the US dollar in early trade on Monday due to weakening of the dollar in the international market and fall in crude oil prices.According to forex traders, the domestic currency got further boost as the country's foreign exchange reserves hit a new all-time high of USD 704.88 billion on Friday.However, he said escalation of conflict in the Middle East and FII…

08 Oct

Natco Pharma shares inflation 4% on settlement order in US patent case on generic Ozempic

Priyanka Roy0 Commentsbusiness, News

Natco Pharma rallied 4 percent in morning trade on October 7 following the issuance of a settlement order in the United States patent case on generic Ozempic products. The stock price witnessed a strong rally and touched an intraday high of Rs 1,408.70 per share on the NSE.Mylan Pharmaceuticals Inc. and Novo Nordisk have reached a settlement of US patent litigation relating to generic Ozempic (semaglutide), the company announced in an exchange filing.NATCO and Mylan have partnered on the development of generic Ozempic products.The stock has registered a rise after falling for three consecutive days.As per data available on the…

07 Oct

Bandhan Bank Q2 business growth: 24.6% inflation

Priyanka Roy0 CommentsBusiness, News

Kolkata, Oct 06 (PTI) Private sector Bandhan Bank's total business grew 24.6 per cent in the second quarter of the current financial year. The bank gave this information in a regulatory filing to the stock exchanges.Total turnover reached Rs 2,73,163 crore by the end of September 30, 2024, as against Rs 2,19,712 crore in the previous corresponding period, registering a growth of 24.6 per cent.The bank's loans and advances stood at Rs 1,30,652 crore at the end of the current second quarter, while deposits reached Rs 1,42,511 crore, the bank said.The collection efficiency ratio across all business lines of the…

05 Oct

Vedanta shares upsurge as company records highest ever aluminium production in second quarter

Priyanka Roy0 CommentsBusiness, News

Vedanta said it recorded aluminium production of 1,205 kilotonnes in the first half of FY25, while its alumina production grew 21 per cent during the same period.Shares of Vedanta Ltd rose marginally in Friday's trade after the Anil Aggarwal-led company said it recorded its highest ever quarterly and half-yearly aluminium production for the period ended September 30. Zinc India recorded its highest ever mined and refined metal production in the second quarter, the metals and mining major said.Following the development, the stock was trading 0.05 per cent higher at Rs 512.05 in early deals. At its meeting on Tuesday, October…