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The private sector lender reported a healthy performance in Q4, with 17% year-on-year (YoY) growth in profit amid contained opex and provisions. The pace of NIM contraction decelerated, down 3 bps quarter-on-quarter (QoQ) at 4.4%.
PSUs are given a status from Maharatna companies, Navratna companies, and Miniratna companies. Navratna companies can invest up to Rs 1,000 crore without prior government approval.
Shares of SBI Cards and Payment Services dropped 4% to the day’s low of Rs 718 on Monday after the company released its Q4 results on Friday wherein an 11% year-on-year (YoY) rise in profit after tax to Rs 662 crore for the quarter ended March 2024 was reported.
Bajaj Finance shares dropped on BSE as investors reacted negatively to Q4 results. Motilal Oswal downgrades the stock to neutral rating citing weak FY25 guidance. Concerns include new product segments like cars, tractors, CVs, and potentially MFI.
The company’s EBIT margin stood at 17.1% for the quarter ended March and the board has recommended a final dividend of Rs 33 per share.
European shares rose on Friday and looked set to end the week higher as investors cheered robust results from tech giants in the United States, while Thyssenkrupp was on course for its best day in 18 months on a divesture announcement.
Vodafone Idea shares tumbled 10% to Rs 11.8 in Thursday\’s NSE trading session following the listing of its follow-on public offer (FPO) shares on the bourses. However, the shares opened at a 7.2% premium compared to their FPO issue price of Rs 11.
Indian Hotels reported consolidated revenue growth of 17% year-on-year (YoY) in 4QFY24, led by 19% YoY revenue growth in the standalone business and the growth in the standalone business was driven by better occupancy (up 440 bps YoY) and ARR (up 4% YoY; LFL 8% excluding Ginger Santacruz).
The company\’s Q4 revenue stood at Rs 362 crores, with quarter-on-quarter (QoQ) growth of 12.7% and YoY growth of 30.5%.
On Tuesday, Nifty weekly contracts had the highest open interest at 23000 for Calls and 22000 for Puts while monthly contracts had the highest open interest at 23000 for Calls and 22000 for Puts. The highest new OI addition was seen at 22400 for Calls and 22100 for Puts in weekly and at 22400 for Calls and 22100 for Puts in monthly contracts.
Earlier reports had said that Airtel was in conversation with Vodafone group to potentially acquire a controlling stake in Indus Towers. Airtel has now, in a letter to the exchanges, clarified that such is not the case.
The overall Assets Under Management (AUM) stood at Rs 4.7 lakh crore as of March 2024 while annual recurring revenue (ARR) AUM at approximately Rs 2.28 lakh crore, an increase of 36.3% year-on-year (YoY) And 3.2% QoQ.