KIMS Hospital Q3 net profit down 6.4% to Rs 76.5 crore
Sun, Feb 4, 2024 12:48 PM

KIMS Hospital Q3 net profit down 6.4% to Rs 76.5 crore

KIMS Hospitals reported a 6.4% decrease in net profit for the quarter ended December 31, 2023, with revenue increasing by 7.1%. Consolidated EBITDA declined by 4.6% on a YoY basis and 16.5% QoQ. Patient footfalls were lower due to festivals, a cyclone, and elections, but clinical outcomes remained excellent. A new unit is expected to open in Q1FY25.

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Pre-election rally to take Nifty to 23400 levels by June this year: ICICI
Sun, Feb 4, 2024 12:48 PM

Pre-election rally to take Nifty to 23400 levels by June this year: ICICI

According to an ICICI Direct report, the Nifty may reach 23400 levels by June 2024 due to the general election rally. The market has consistently given positive returns in the past 8 years and is expected to continue this trend due to strong macroeconomic indicators and increased demand in India. The report also highlights that historical data shows Nifty tends to rise before election results.

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Reliance wins IFR Asia's 'Issuer of the Year' award for a record 4th time
Sun, Feb 4, 2024 12:43 PM

Reliance wins IFR Asia's 'Issuer of the Year' award for a record 4th time

Reliance Industries Ltd has won the prestigious 'Issuer of the Year' Award from IFR Asia for their successful fundraising efforts amid challenging market conditions in 2023. This is the fourth time that Reliance has received this award, showcasing their strength in balancing onshore and offshore funding to achieve optimal pricing results.

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Kronox Lab Sciences refiles IPO papers with only OFS component
Sun, Feb 4, 2024 12:38 PM

Kronox Lab Sciences refiles IPO papers with only OFS component

Gujarat-based Kronox Lab Sciences has filed draft papers with the capital markets regulator SEBI for fund raising via initial public offering for second time in around two months after the first filing. As per the latest draft prospectus dated January 25, 2024, the public issue comprises only an offer-for-sale (OFS) of 96 lakh equity shares by promoters.

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Focus to be on concluding ongoing strategic sales in FY'25: DIPAM secretary
Sun, Feb 4, 2024 12:33 PM

Focus to be on concluding ongoing strategic sales in FY'25: DIPAM secretary

DIPAM will prioritize concluding ongoing privatization transactions, such as IDBI Bank and BEML, and will not focus on new strategic sales for CPSEs next fiscal year. DIPAM Secretary Tuhin Kanta Pandey reported that there has been a significant increase in the market capitalization and government equity holding in public sector enterprises due to strong performance and disinvestment strategies.

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FPIs investment in debt market over 6-year high at Rs 19,800 cr in January
Sun, Feb 4, 2024 12:31 PM

FPIs investment in debt market over 6-year high at Rs 19,800 cr in January

In January, FPIs made record-high investments of over Rs 19,800 cr in India's debt markets due to the inclusion of government bonds in a benchmark index. However, they withdrew Rs 25,743 cr from equities due to rising US bond yields. This inflow is expected to benefit the economy and strengthen the rupee. The government's aim to reduce fiscal deficit has also positively impacted the debt market.

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Indian bourses cut Paytm daily trading limits to 10% after rout
Sun, Feb 4, 2024 11:50 AM

Indian bourses cut Paytm daily trading limits to 10% after rout

Indian exchanges have reduced trading limits for Paytm by 10% due to a decline in market value after regulatory actions on its banking unit. The new limits will be effective from Monday and deny Paytm access to fresh deposits, threatening the company's operations as India's top digital payments app. The stock experienced a $2 bn loss on Mumbai's bourses this week, with a total decline of 20%.

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Mcap of eight of top-10 most valued firms climb Rs 2.90 lakh crore
Sun, Feb 4, 2024 11:44 AM

Mcap of eight of top-10 most valued firms climb Rs 2.90 lakh crore

Last week, the combined market valuation of eight of the top-10 most valued firms rose by Rs 2.90 lakh crore, led by Reliance Industries. BSE benchmark Sensex saw a jump of 1,384.96 points or 1.95%. Among the gainers were Reliance Industries, TCS, HDFC Bank, ICICI Bank, Infosys, LIC, SBI, and HUL while Bharti Airtel and ITC saw a decline.

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Mark Zuckerberg surpasses Bill Gates, is now richer by $28 billion
Sun, Feb 4, 2024 11:38 AM

Mark Zuckerberg surpasses Bill Gates, is now richer by $28 billion

Meta CEO and co-founder Mark Zuckerberg has become the 4th richest person in the world with a net worth of $165 bn, surpassing Bill Gates. He will also receive $174 mn in cash from Meta's first-ever dividend and stands to earn over $690 million annually. Zuckerberg has also joined the criticism against Apple's App Store policies, stating that they are too strict and at odds with EU regulations.

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Top stocks that could give 10-20% return!
Sun, Feb 4, 2024 11:34 AM

Top stocks that could give 10-20% return!

The Nifty50 remained volatile during the budget week, closing at 21854 with a weekly gain of 501 points. The weekly chart shows a bullish candle with an upper shadow, indicating profit booking near the all-time high. Here are 4 trading ideas for 10-20% returns in the next 3-4 weeks: Can Fin Homes, Engineers India Ltd, Hindustan Copper Ltd, and Oriental Hotels.

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Airtel Q3 results: PAT seen rising 13% QoQ
Sun, Feb 4, 2024 11:30 AM

Airtel Q3 results: PAT seen rising 13% QoQ

Telecom major Bharti Airtel is expected to report a 6.3% year-on-year jump in consolidated net profit for the October-December quarter, driven by strong subscriber additions and higher average revenue per user (ARPU). The company's consolidated revenue is expected to rise by 2.7% sequentially, aided by an increase in ARPU and growth in its India and Africa wireless segments.

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Northern Arc Capital files IPO papers again
Sun, Feb 4, 2024 11:17 AM

Northern Arc Capital files IPO papers again

Chennai-based company Northern Arc Capital has filed for an IPO with SEBI, comprising Rs 500 crore worth of fresh shares and an OFS by several investors. The NBFC may also raise up to Rs 100 crore through pre-IPO placement. The firm aims to use the funds for onward lending and meet RBI's capital adequacy norms. It recorded a net profit of Rs 242.2 crore for FY23 and has a gross NPA of 0.42%.

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SBI MF garners over Rs 900 crore from Nifty50 index fund NFO
Sun, Feb 4, 2024 11:16 AM

SBI MF garners over Rs 900 crore from Nifty50 index fund NFO

SBI Mutual Fund has raised over Rs 900 crore through its new fund offer, which closed on January 29. The Nifty50 equal weight index fund received more than 40,000 applications and saw strong interest from all distribution channels and the direct channel. The low-cost open-ended scheme tracks the Nifty50 equal weight index and aims to provide returns corresponding to the underlying securities.

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Paytm customers more than welcome to SBI, says Chairman Khara
Sun, Feb 4, 2024 10:33 AM

Paytm customers more than welcome to SBI, says Chairman Khara

SBI is willing to assist Paytm customers affected by RBI's order to halt activities from March 1. SBI Chairman Khara said they have no plans to rescue Paytm but will be there if directed by RBI. SBI reported a 35% drop in profits. The central bank asked Paytm to stop primary activities due to non-compliance. SBI subsidiary is ready to help Paytm merchants with payment needs.

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The EU is providing Ukraine with $54 billion
Sun, Feb 4, 2024 10:31 AM

The EU is providing Ukraine with $54 billion

EU leaders have approved a deal to give Ukraine 50 bn euros for economic recovery, with most of the funds going towards stabilizing the economy and rebuilding infrastructure. The aid will also support state salaries, public services, and foreign investments. This aid is seen as crucial for sustaining its long-term economic stability, in addition to military assistance and sanctions against Russia.

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