These private banks offer up to 6.50% interest on 1-year FDs
Thu, Feb 1, 2024 10:40 AM

These private banks offer up to 6.50% interest on 1-year FDs

To create an emergency fund, save some money in easily accessible assets. Despite low interest rates, consider investing a portion of your portfolio in fixed deposits (FDs) for higher returns. Research and evaluate the risks before choosing a bank, as smaller banks offer up to 6.50% interest on one-year FDs. Suryoday Small Finance Bank tops the list with a 6.50% interest rate.

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IIFL Finance's NCD offer opens today: Should you invest in it?
Thu, Feb 1, 2024 10:38 AM

IIFL Finance's NCD offer opens today: Should you invest in it?

IIFL Finance is launching secured NCDs to raise Rs 1000 crore for lending purposes. The NCDs have a face value of Rs 1000 and come in seven series with varying tenures and payout options. The company has a diversified loan portfolio with a relatively low NPA ratio, but the rating agencies have raised concerns about the young age of the loan book and the impact of the pandemic on borrowers.

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Indian Metals Standalone December 2023 Net Sales at Rs 685.27 crore
Thu, Feb 1, 2024 10:37 AM

Indian Metals Standalone December 2023 Net Sales at Rs 685.27 crore

Indian Metals & Ferro Alloys reported a strong standalone performance in the December 2023 quarter, with a 9.89% increase in net sales to Rs. 685.27 crore and a whopping 934.23% increase in net profit to Rs. 107.87 crore. EBITDA also saw a significant jump of 150.48%, leading to an increase in EPS from Rs. 1.93 to Rs. 19.99 in the same period.

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SHAH METACORP Standalone December 2023 Net Sales at Rs 12.91 crore
Thu, Feb 1, 2024 10:32 AM

SHAH METACORP Standalone December 2023 Net Sales at Rs 12.91 crore

SHAH METACORP reported a decrease in standalone quarterly numbers for December 2023. Net sales were down by 16.16% to Rs.12.91 crore, while net profit decreased by 65.09% to Rs.0.77 crore. EBITDA also saw a decline of 40.85%. The company's EPS decreased from Rs. 0.14 to Rs. 0.02. SHAH METACORP shares closed at 4.10 on January 31, 2024 (NSE).

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Punjab & Sind Bank Q3 net profit drops 69 pc to Rs 114 crore
Thu, Feb 1, 2024 10:31 AM

Punjab & Sind Bank Q3 net profit drops 69 pc to Rs 114 crore

Punjab & Sind Bank reported a 69% decline in net profit to Rs 114 crore for the third quarter of 2023. However, total income increased to Rs 2,853 crore and interest income rose to Rs 2,491 crore. Gross NPAs reduced to 5.70% and net NPAs decreased to 1.80%. Capital Adequacy Ratio improved to 16.13%, and total business crossed Rs 2 lakh crore.

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Dixon Tech shares jump 6% as revenue doubles in Q3
Thu, Feb 1, 2024 10:30 AM

Dixon Tech shares jump 6% as revenue doubles in Q3

Dixon Technologies Limited's stock rose by 6% to Rs 6,348 in morning trade on February 1 after reporting a doubling of its revenue from operations during the October-December quarter. The company's net profit also saw an 85% increase to Rs 97 crore. HSBC has given a 'buy' rating with a target price of Rs 6,550 and Morgan Stanley has an underweight call citing management's lack of revenue guidance.

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Equitas-Google Pay deal reflects confluence of banking and fintech
Thu, Feb 1, 2024 10:29 AM

Equitas-Google Pay deal reflects confluence of banking and fintech

Equitas SFB and Google Pay have partnered to offer a fixed deposit investment scheme where individuals can invest their savings without opening a bank account. This is the first of its kind deal between a traditional bank and technology player, raising concerns from the Reserve Bank of India about the entry of Big Tech into financial markets.

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What Interim Budget 2024 holds in store for the agriculture sector?
Thu, Feb 1, 2024 10:27 AM

What Interim Budget 2024 holds in store for the agriculture sector?

The agriculture sector is expected to receive increased institutional credit in the upcoming interim Budget, with a potential focus on marginal farmers. Experts also predict a 50 percent increase in direct transfers to farmers through the PM Kisan Samman Nidhi scheme. There is a decline in percentage allocation to the agriculture sector in recent budgets.

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Budget to budget: Mcap of BSE-listed companies jumps 41%
Thu, Feb 1, 2024 10:27 AM

Budget to budget: Mcap of BSE-listed companies jumps 41%

The Indian stock market has seen a significant increase in market capitalization of BSE-listed firms, with a 41% surge since the last budget. This growth can be attributed to a strong domestic economy amidst a global slowdown. Sectors like real estate and automobiles have performed well due to the resilient economy, but there was a recent correction in January 2024.

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Hot Stocks: Brokerages view on them!
Thu, Feb 1, 2024 10:25 AM

Hot Stocks: Brokerages view on them!

ETNow collected ratings and target prices from top brokerage firms for Paytm, Sun Pharma, KEC International, and M&M Financial Services. Macquarie maintained a neutral rating on Paytm with a target of Rs 650 amid concerns with RBI implications. BofA Securities recommended a neutral rating on Sun Pharma but raised the target price to Rs 1440 following positive growth in US and India.

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Nominal GDP growth of 10.5% may be assumed in FY25 Budget
Thu, Feb 1, 2024 10:24 AM

Nominal GDP growth of 10.5% may be assumed in FY25 Budget

The upcoming interim Budget for 2024-25 is estimated to rely on a 10.5% nominal GDP growth, higher than the predicted 8.9% for the same period. This has a significant impact on fiscal calculations and deficit-to-GDP ratio, with higher growth resulting in a lower deficit. However, economists suggest that a lower-than-budgeted growth of 8.9% this year could lead to minor fiscal slippage.

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Yellow metal falls after Fed dashes hopes of rate cut in March
Thu, Feb 1, 2024 10:22 AM

Yellow metal falls after Fed dashes hopes of rate cut in March

Gold prices dropped on Thursday after the US Fed announced that it would not be cutting interest rates in March, reaffirming its goal of 2% inflation. This news strengthened the US dollar and lowered demand for the precious metal. Gold futures on MCX and Comex both saw a decline, while the dollar index rose. Despite the reduced chances of an imminent rate cut, gold is still set for a weekly gain.

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Shree Cement jumps 6% to 52-week high as Q3 net doubles
Thu, Feb 1, 2024 10:21 AM

Shree Cement jumps 6% to 52-week high as Q3 net doubles

Shree Cement's shares soar 6% to a new high after impressive Q3 earnings, with net profit doubling and revenue growing. Analysts recommend buying the stock due to its efficient operations, ambitious capex plans, and potential for growth in premium products. Central government spending and upcoming elections expected to boost cement demand.

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Godrej Consumer shares surge to 52-week high on healthy Q3 earnings
Thu, Feb 1, 2024 10:20 AM

Godrej Consumer shares surge to 52-week high on healthy Q3 earnings

Godrej Consumer Products saw a 12% surge in their shares after posting solid earnings for Q3. Net profit rose by 6.4%, exceeding expectations, and revenue grew by nearly 2%. Despite challenges in international markets, the company's EBITDA margin expanded to 23%, a significant improvement from the previous year.

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Budget for world's fastest growing economy: Key numbers to be watched
Thu, Feb 1, 2024 10:19 AM

Budget for world's fastest growing economy: Key numbers to be watched

Finance Minister Nirmala Sitharaman will present the pre-election budget that highlights achievements of the Modi government in the past 10 years and outlines plans to make India a developed nation by 2047. All eyes are on whether the budget will be populist or focused on fiscal reform, with key numbers like fiscal deficit, disinvestment, and capital expenditure being closely watched.

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