CSB Bank has over 45% of its assets in gold loans
Mon, Jan 30, 2023 8:16 PM

CSB Bank has over 45% of its assets in gold loans

Kerala-based mid-sized lender CSB Bank has over 45 per cent of its assets in gold loans. In Q3FY23, its gold loan book rose 51 per cent to Rs 8,780.30 crore from Rs 5,825.50 crore a year ago. The high gold loan exposure provided CSB Bank with an industry high 5.8 per cent net interest margin (up marginally on-year). The lender's Q3 net profit grew by 5% to Rs 156 crore.

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CSB Bank Q3 net profit grows by 5% to Rs 156 crore
Mon, Jan 30, 2023 8:10 PM

CSB Bank Q3 net profit grows by 5% to Rs 156 crore

CSB Bank (formerly Catholic Syrian Bank) logged a tepid 5 per cent growth in Q3FY23 net profit to Rs 156 crore despite record margins and a 26 per cent rise in advances. However, the Kerala-based mid-sized lender recorded a hefty 51 per cent jump in gold loans. Its core net interest income also improved by 15 per cent to Rs 350 crore from Rs 303 crore a year ago.

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Only buyers were seen in these stocks on January 30
Mon, Jan 30, 2023 8:05 PM

Only buyers were seen in these stocks on January 30

List of low-priced stocks that were locked in the upper circuit on January 30: πŸ“Œ Shri Krishna Devcon Ltd πŸ“Œ Enterprise International Ltd πŸ“Œ Sc Agrotech Ltd πŸ“Œ Suryo Foods Industries Ltd πŸ“Œ Libord Securities Ltd πŸ“Œ Jayabharat Credit Ltd πŸ“Œ HCKK Ventures Ltd πŸ“Œ Classic Filaments Ltd πŸ“Œ Alchemist Corporation Ltd πŸ“Œ Trimurthi Ltd.

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Build Long Term Wealth With Crypto The Right (&The Simplest) Way
Mon, Jan 30, 2023 8:00 PM

Build Long Term Wealth With Crypto The Right (&The Simplest) Way

Diversifying your portfolio into multiple asset classes is one of the best & trusted ways to build long-term wealth. Often highly rewarding investments come with associated market risks. Mudrex thus enters the picture & lets you minimize risks to further grow your wealth with its expert-managed crypto baskets called Coin Sets.

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REC's Q3 net profit zooms  5% to Rs 2,915.33 crore
Mon, Jan 30, 2023 7:58 PM

REC's Q3 net profit zooms 5% to Rs 2,915.33 crore

REC logged more than 5% growth in its Q3FY23 consolidated net profit at Rs 2,915.33 crore driven by lower expenses. The state-owned non-banking finance firm's consolidated net profit stood at Rs 2,773.44 crore in the year-ago period. Its total expenses, however, declined to Rs 6,185.24 crore in the quarter from Rs 6,617.51 crore in the same period a year ago.

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These small-cap stocks will be in focus on Tuesday
Mon, Jan 30, 2023 7:50 PM

These small-cap stocks will be in focus on Tuesday

On Monday, the Sensex rose by 169.51 points to close at 59,500.41, while the Nifty 50 gained by 44.60 points to close at 17,648.95. List of small-cap stocks are likely to be in focus on Tuesday, January 31, 2023: πŸ“Œ RRIL Ltd πŸ“Œ Siyaram Silk Mills πŸ“Œ Krsnaa Diagnostics πŸ“Œ Aegis Logistics πŸ“Œ Jupiter Wagons πŸ“Œ Raj Rayon Industries πŸ“Œ Sun Pharma πŸ“Œ Upsurge Seeds

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Gold becoming a speculative asset: Manoj Trivedi
Mon, Jan 30, 2023 7:42 PM

Gold becoming a speculative asset: Manoj Trivedi

Manoj Trivedi, Co-founder of Jama Wealth, stated that gold has now become a speculative asset. Academically, gold is an alternative currency. However, the precious metal is no more functioning as a safe haven during economic crises (as it should have during the Ukraine-Russia War, but did not). Neither is gold serving as an effective inflation hedge. This is because of trading in gold.

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This stock announced bonus shares and stock split
Mon, Jan 30, 2023 7:33 PM

This stock announced bonus shares and stock split

Shares of Captain Pipes Ltd surged 10% upper circuit to Rs 726 per share from its previous closing of Rs 660. BSE has approved the issue of 2 bonus shares for 1 equity share held by the company's equity shareholders as of the record date, as well as a stock split of 1 equity share of the company with a face value of Rs 10 into 10 equity shares of the company with a face value of Rs 1 each.

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Digital gold shines bright! Investors looking for online gold purchases
Mon, Jan 30, 2023 7:30 PM

Digital gold shines bright! Investors looking for online gold purchases

Digital gold is quickly becoming the preferred choice among investors thanks to its convenience and affordability. Moreover, the government’s drive for transactions via digital mode, improvement in digitalisation, ease of buying gold online and, lately, inflation have motivated gold buyers to opt for investing in modern forms of wealth such as digital gold.

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Manu Jain resigns from Xiaomi!
Mon, Jan 30, 2023 7:23 PM

Manu Jain resigns from Xiaomi!

Xiaomi India's senior executive and former India head, Manu Jain, has decided to exit from the role.Β He stated, β€œAfter nine years, I am moving on from the Xiaomi Group. I feel confident that now is the right time, as we have strong leadership teams across the world. I wish the Xiaomi teams globally all the best and hope they achieve even greater success.”

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Morgan Stanley's Kayello to exit as MENA head
Mon, Jan 30, 2023 7:09 PM

Morgan Stanley's Kayello to exit as MENA head

Morgan Stanley announced that the Middle East and North Africa (MENA) head Sammy Kayello is stepping down from his role. However, he will continue to function as a senior adviser for Morgan Stanley. The company's chief executive for Saudi Arabia Abdulaziz Alajaji and the bank's head of investment banking for MENA Patrick Delivanis will succeed Kayello.

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Dow futures fall 200 points as traders brace for a busy week of earnings
Mon, Jan 30, 2023 7:00 PM

Dow futures fall 200 points as traders brace for a busy week of earnings

On Monday, stock futures traded lower amid a January rally as investors braced for the busiest week of earnings season and a possible interest rate hike from the Federal Reserve. Futures tied to the Dow Jones Industrial Average slipped 206 points or about 0.6%. S&P 500 futures fell 0.9%, and Nasdaq 100 futures plunged by 1.1%.

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PNB is exposed to the Adani Group to the tune of β‚Ή7000 Cr
Mon, Jan 30, 2023 6:52 PM

PNB is exposed to the Adani Group to the tune of β‚Ή7000 Cr

Punjab National Bank has a total exposure to Adani Group of β‚Ή7000 Cr, but there is currently no cause for concern, the state-run lender's MD and chief executive said. Hindenburg Research raised worries about Adani Group's debt levels and use of tax havens last week. Adani Group has said that it is in compliance with all local laws and has made all required regulatory disclosures.

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Premier league signs NFT deal with this Ethereum-based game
Mon, Jan 30, 2023 6:45 PM

Premier league signs NFT deal with this Ethereum-based game

The Premier League and Sorare, a $4.3 billion fantasy soccer game, have decided to a multi-year agreement under which the Premier League will license official player cards. According to the exclusive multi-year arrangement, players of the game will be able to buy and use NFTs that the prestigious football league officially licenses.

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Premier League signed NFT agreement with SoftBank-backed Sorare
Mon, Jan 30, 2023 6:43 PM

Premier League signed NFT agreement with SoftBank-backed Sorare

The Premier League is teaming up with French fantasy sports platform Sorare to sell NFTs, indicating that the athletic world is still embracing digital assets despite market volatility. Sorare said that the agreement grants it a four-year licence to sell digital sports cards of players from all 20 Premier League clubs. The arrangement might be worth 30 million pounds ($37.13 million) every year.

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