Tue, Oct 22, 2024 11:04 AM
Gold Price Today: Yellow metal gains by Rs 2,000/10 gm in one week
A Flip by Shubhangi Gupta
KR Choksey's research report on Jio Financial Services. Net Interest Income (NII) for Q2FY25 stood at INR 2,050 Mn, a growth of 10.2% YoY/ 26.7% QoQ. Pre-Provision Operating Profit (PPOP) was INR 3,388 Mn, a decline of 6.0% YoY but grew by 6.9% QoQ, led by higher dividend income. The cost-to-income ratio stood at 31.4% as against 18.9% in Q1FY25 (vs. 18.3% in Q2FY24).
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Pushed by the regulatory action by the Reserve Bank of India (RBI) against 4 NBFc including Asirvad Micro Finance, the shares of its parent company, Manappuram Finance, plummeted by 21% in a week, driven by investor concerns over the company's future. The regulator directed the NBFC to cease and desist from sanction and disbursal of loans, effective October 21.
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Tata Consumer Products saw mixed Q2FY25 results, with healthy performance in India Foods, International, and non-branded segments, but weakness in India Beverages due to elevated tea prices and input cost inflation, prompting price hikes; despite this, the company's long-term outlook remains positive, maintaining an "ACCUMULATE" rating with a target price of INR 1,136.
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