Reliance Retail on Friday reported net revenues of Rs 33,018 crore on a consolidated basis in the Q3. the company witnessed a decline of nearly 19% compared to the year-ago period. The numbers are not comparable due to the transfer out of the fuel retailing business to the RIL-BP JV. Net revenues stood at Rs 40,660 crore in Q3FY20, the company said in a presentation.
Open FlipThe RBI proposed a four-layered framework for the regulation NBFCs. The framework is forecasted as a pyramid-like structure, where regulated entities will be classified into each layer based on parameters like asset size, type of liabilities, and their relative systemic importance. The base layer will consist of NBFCs currently classified as non-systemically important NBFCs.
Open FlipBad loans of Yes Bank would have touched 20% of its total advances without the Supreme Court order in September to halt classification of certain loans as bad, chief executive Prashant Kumar said. The bank’s bad loans were at 15.36% of its advances as on 31 December, but the SC order masks another ₹8,322 crore NPAs from a mix of retail, corporate and small businesses.
Open FlipPrivate life insurer SBI Life on Friday reported a steep decline of 40.2% in net income to ₹232.85 crore in the December quarter, mainly due to a massive rise in coronavirus related provisions. Net premium income rose to ₹13,766.49 crore in Q3 from ₹11,694.51 crore a year ago. However, Gross written premium increased 21% to ₹34,610 crore mainly due to strong growth in renewals.
Open FlipNTPC on Friday said it will raise ₹2,500 crore through issuance of non-convertible bonds via private placement on January 27. "NTPC has decided to issue unsecured non-convertible bonds in the nature of debentures of ₹2,500 crore on January 27, 2021, through a private placement at a coupon of 6.43 per cent per annum with a door to door maturity of 10 years on January 27, 2031", a BSE filing said.
Open FlipUBS Principal Capital Asia Ltd on Friday sold nearly 40 lakh shares of IndusInd Bank Ltd worth over ₹366 crore through an open market transaction. As per the data available on the BSE, UBS Principal Capital Asia offloaded 39.50 lakh shares of the bank at an average price of ₹928 apiece, valuing the transaction at ₹366.56 crore.
Open FlipPrime Minister Narendra Modi will visit Kolkata to address the ‘Parakram Diwas’ celebrations at Victoria Memorial Kolkata today (23rd January, 2021) to commemorate the 125th birth anniversary year of Netaji Subhas Chandra Bose. Prime Minister will also visit Jerenga Pathar in Sivasagar, Assam to distribute 1.06 lakh land pattas/allotment certificates.
Open FlipState-owned power giant Power Finance Corporation (PFC) on Friday said it has raised USD 500 million (Rs 3,651 crore) through issuance of notes (bonds) under its USD 5 billion Global Medium Term Note Programme. "PFC launched issuance of USD 500,000,000 3.35 per cent notes due 2031 under the USD 5,000,000,000 Global Medium Term Note Programme," the company said in a regulatory filing.
Open FlipReliance Industries’s digital venture Jio Platforms has reported a net profit of INR 3,489 Cr in the third quarter (Q3) of the financial year 2021. This has represented a 15% hike compared to INR 3,020 Cr reported in the second quarter. During the same time period, the average revenue per user (ARPU) also increased to INR 151 per subscriber per month versus INR 145 in Q2.
Open FlipThe online gaming industry is expected to grow at a compound annual growth rate (CAGR) of 40% to $2.8 billion by 2022, up from $1.1 billion in 2019, according to a Deloitte India report released on Tuesday. Largely driven by smartphones, affordable data and increasing disposable income, the rapid growth is expected to strengthen the sector’s share of total media and entertainment industry by 4−5%.
Open FlipGold prices dropped considerably by Rs 519 to Rs 49,140 per 10 gram in the Mumbai retail market on rupee appreciation and weak global cues. The yellow metal declined primarily due to the rise in US treasury yields and a decrease in US weekly jobless claims. The precious metal prices had declined Rs 187, or 0.38 per cent, for the week in the domestic market.
Open FlipVivo unveiled X60 Pro+ under its X60 series which is powered by the recently introduced Qualcomm Snapdragon 888 SoC. The smartphone introduced in China features a quad rear camera setup and has a single selfie shooter placed inside a hole-punch cutout. The mobile company rolled out a teaser for this latest edition last year in December when it launched Vivo X60 and Vivo X60 Pro smartphones.
Open FlipOil-to-telecom conglomerate Reliance Industries on Friday reported 12.5% rise in consolidated net profit at ₹13,101 crore for the quarter ending 31 December, 2020. It was ₹11,640 crore in the year-ago period. Consolidated revenue from operations declined 22% to ₹1.23 lakh crore as against ₹1.57 lakh crore in year-ago period.
Open Flip39 IPOs were listed in 2020. Many of these IPOs have “doubled the wealth of investors,” 5paisa notes. However, some of these offerings have led to investors' loss. "Going forward, 2021 could be a strong year for IPOs again. The spectacular performance of recent IPOs in the year 2020 in the secondary market augurs well for the pipeline in the coming months..", a 5Paisa blog notes.
Open FlipOberoi Realty reported 57.1% growth YoY in Dec-20 quarter consolidated revenues at Rs828.41cr. There was a sharp surge in demand for higher-end apartments in Mumbai, which is where Oberoi Realty predominantly deals in. Consolidated Profit after tax (PAT) for the Dec-20 quarter was up 93.37% at Rs286.65cr on better operational performance.
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