Shriram Transport Finance Q2 web revenue down 11% to Rs 685 cr
Shriram Transport Finance Co Ltd (STFC) on Thursday reported a ten.5 % decline in web revenue at Rs 684.56 crore in July-September quarter of 2020-21. The non-banking finance firm had posted a web revenue of Rs 765.05 crore in the identical quarter of 2019-20. Complete revenue rose 4.68 % to Rs 4,351.26 crore throughout the quarter below assessment from Rs 4,156.92 crore in the identical interval a yr in the past, STFC mentioned in a regulatory submitting. Nonetheless, web curiosity revenue fell 1.67 % to Rs 2,021.86 crore from Rs 2,056.11 crore within the year-ago quarter. More here
Canara Financial institution posts Q2 web revenue of Rs 444 crore
State-run Canara Financial institution on Thursday reported a 28 % dip in revenue after tax at Rs 444 crore for the quarter ended September on greater provisions. The financial institution amalgamated Syndicate Financial institution with itself efficient April 1, 2020. The amalgamated entity had posted a standalone revenue after tax of Rs 616 crore in the identical quarter of the earlier fiscal. The pre-amalgamation standalone revenue in September 2019 quarter stood at Rs 364.92 crore. Canara Financial institution’s Managing Director and CEO L V Prabhakar mentioned the financial institution made superior provision for Dewan Housing Finance (DHFL), which it has declared as fraud, and in addition Rs 125 crore floating provision throughout the quarter. More here
Opening Bell: Sensex opens flat, Nifty holds 11,650; HDFC prime loser
Indian indices opened on a flat notice on Friday as losses in index heavyweights Infosys, HDFC, ICICI Financial institution, HDFC Financial institution and HUL have been capped by features in RIL, TCS and L&T. At 9:18 am, the Sensex was buying and selling 26 factors decrease at 39,723 whereas the Nifty fell 3 factors at 11,668. Broader markets outperformed benchmarks with Nifty Midcap and Nifty Smallcap up 0.6 % and 0.7 %, respectively. Amongst sectors, Nifty Realty rose over 1 % and Nifty IT, Nifty Metallic and Nifty Pharma have been additionally within the inexperienced whereas Nifty Financial institution and Nifty Fin Providers dragged.
Asian shares falter once more, poised for first weekly loss since late-September
A gauge of Asian shares fell for a 3rd straight session on Friday as jitters over upcoming US presidential elections and fears that the worldwide financial downturn will persist enveloped markets, although the index was nonetheless set to finish the month greater. MSCI’s broadest index of Asia-Pacific shares outdoors of Japan was final down 0.3 %, on monitor to the tip the week 1.3 % decrease after 4 straight weeks of features. The index is up 3.7 % in October up to now. Analysts count on this broader outperformance to increase additional. Australia’s ASX 200 fell 0.2 % and New Zealand’s benchmark index faltered 0.6 %. Japan’s Nikkei slipped 0.8 % as did South Korea’s KOSPI index. Chinese language shares have been marginally greater, with the blue-chip index up 0.07 %.
Vodafone Thought Q2 loss narrows to Rs 7,218 crore, to monetise its 11.15%
Debt-ridden telecom agency Vodafone Thought on Thursday reported a consolidated lack of Rs 7,218.2 crore within the second quarter of FY21. The corporate had posted a lack of Rs 50,897.9 crore in the identical quarter of the earlier fiscal on account of constructing provisions for statutory due funds. Complete revenue declined by about 3 % to Rs 10,830.5 crore throughout the reported quarter, from Rs 11,146.4 crore within the corresponding interval of 2019-20. Vodafone Thought MD and CEO Ravinder Takkar mentioned whereas challenges associated to COVID-19 proceed, the second quarter has proven indicators of restoration with a gradual enchancment in financial actions. More here
Submit pandemic, Infosys will begin to come again to pre-Covid degree development of 9.8%
Extra focus by giant enterprises on automation will see digital revenues contribute over half of Infosys’ revenues within the coming quarters and can assist push the corporate again to pre-COVID degree development past the pandemic, its chief govt officer Salil Parekh instructed CNBC-TV18. The IT bellwether had clocked a development of 9.8 % in FY20, whereas the corporate has guided for 2-3 % development in FY21 as a result of COVID-19 pandemic. The corporate had upped its steerage for the present monetary yr submit its robust Q2 efficiency from the sooner steerage of 0-2 %. More here
RIL to announce Q2 earnings at present; here is what to anticipate
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) is scheduled to announce its September quarter earnings of FY21 (Q2FY21) on Friday (October 30). All segments besides refining are anticipated to do nicely. Goldman Sachs expects petchem enterprise to meaningfully get better from Q1 trough. It expects the petchem EBITDA to rise 28 % on a QoQ foundation. Nonetheless, the massive revival is anticipated to be within the shopper companies on a sequential foundation. Nomura expects a 29 % QoQ development in Reliance Retail revenues and a 55 % development in EBITDA. More here
First up, right here is fast catchup of what occurred within the markets on Thursday
Home inventory markets settled on a purple notice on Thursday. The Sensex completed 173 factors decrease at 39,749.85, whereas the Nifty50 index closed at 11,670.80, down 59 factors. Barring IT index, all sectors closed within the purple. Broader markets underperformed the benchmarks, by closing as much as 1 % decrease. L&T and Titan have been the index prime losers, down as much as 5 %. Asian Paints, UltraTech Cement, Shree Cements, HCL Tech and Kotak Mahindra Financial institution have been amongst main gainers on the Nifty, whereas losers have been L&T, Titan Firm, ONGC, Adani Ports and Tata Motors.
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