BPCL says Russia oil intake share falls to 34% in September quarter
Mon, Oct 28, 2024 4:57 PM

BPCL says Russia oil intake share falls to 34% in September quarter

BPCL's use of Russian oil fell to 34 percent of the total intake for crude processing in the July-September quarter due to a maintenance shutdown of units at its Bina and Kochi refineries, its finance head said on Monday. BPCL mainly processes Russian oil at its 156,000-bpd Bina refinery in central India and the 310,000-bpd Kochi refinery in southern Kerala state.

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Buy ICICI Bank; target of Rs 1450: Emkay Global Financial
Mon, Oct 28, 2024 4:56 PM

Buy ICICI Bank; target of Rs 1450: Emkay Global Financial

Emkay Global Financial's research report on ICICI Bank: ICICI Bank posted a 3% beat on PAT at Rs117bn and a superior RoA of 2.4% among peers, primarily due to healthy NII and better fees/treasury gains. Defying industry and peer trends, the bank clocked healthy credit growth at 15% YoY/4% QoQ, driven by some pick-up in corporate, business banking, and non-PL retail book.

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Rupee inches to all-time low amid rising US yields
Mon, Oct 28, 2024 4:55 PM

Rupee inches to all-time low amid rising US yields

The Indian rupee dipped to a lifetime low versus the U.S. dollar on Monday, pressured by the 10-year U.S. yield climbing to its highest since late July. The rupee dropped to an all-time low of 84.0850 to the dollar, slipping past the 84.0825 low it hit last week. Most Asian currencies were weaker on the day in the wake of a further rise in U.S. yields.

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India fares better than EM peers in attracting FII funds this year
Mon, Oct 28, 2024 4:53 PM

India fares better than EM peers in attracting FII funds this year

Foreign institutional investors (FIIs) displayed a mixed outlook on emerging markets (EMs) in 2024, with notable capital outflows from major players like China and Brazil. In stark contrast, India managed to attract modest positive inflows, highlighting its resilience and appeal as a stable investment destination amidst global uncertainties.

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Top Gainers and Losers today on 28 October, 2024
Mon, Oct 28, 2024 4:52 PM

Top Gainers and Losers today on 28 October, 2024

📌The leading gainers in the Nifty index included Shriram Finance (up 5.39%), Adani Enterprises (up 3.91%), ICICI Bank (up 2.98%), Eicher Motors (up 2.81%), and Wipro (up 2.79%). 📌Conversely, the top losers were Coal India (down 4.22%), Bajaj Auto (down 1.91%), Axis Bank (down 1.49%), Kotak Mahindra Bank (down 1.07%), and Hero Motocorp (down 0.91%).

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BHEL shares zoom 10% on posting Rs 106 crore profit
Mon, Oct 28, 2024 4:49 PM

BHEL shares zoom 10% on posting Rs 106 crore profit

Shares of BHEL zoomed 10% to hit upper circuit at Rs 238.60 on the BSE after the PSU reported its September quarter consolidated net profit at Rs 106 crore against a loss of Rs 63 crore in the year-ago period. The company's revenue from operations during the quarter stood at Rs 6,584 crore which was up 28% over Rs 5125.29 crore reported in the corresponding quarter of the previous financial year.

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Oil prices plunge 6% on targeted Israeli strike
Mon, Oct 28, 2024 4:48 PM

Oil prices plunge 6% on targeted Israeli strike

Crude prices fell significantly on Monday following Israel’s targeted retaliation against Iran. Fears of a full-scale conflict in the Middle East were allayed as Israel’s military action avoided striking Iran’s critical oil and nuclear sites, with Iran reporting its oil production remained unaffected. Brent crude dropped 5.83% to $71.62, and WTI fell 6.07% to $67.42.

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Adani Power Q2 results: Net profit falls 50% to Rs 3,298 crore
Mon, Oct 28, 2024 4:46 PM

Adani Power Q2 results: Net profit falls 50% to Rs 3,298 crore

Adani Power Ltd on October 28 reported 50% decline in net profit at Rs 3,298 crore for the quarter ended September 30, 2024. It reported net profit of Rs 6,594 crore in the year-ago period. On October 28, Adani Power's shares on BSE closed trading 0.62% higher at Rs 596 apiece. The Adani Group's firm's revenue from operations rose nearly 3% higher to Rs 13,339 crore in Q2FY25.

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IOCL reports net loss of Rs 449 crore in Q2 amid weak GRMs
Mon, Oct 28, 2024 4:45 PM

IOCL reports net loss of Rs 449 crore in Q2 amid weak GRMs

Indian Oil Corporation Ltd (IOCL) reported a consolidated net loss of Rs 449 crore for the second quarter of the current financial year due to weak refining margins and lower product cracks. The state-run oil retailer posted a profit of Rs 13,713 crore in the same period last year. Indian Oil’s net profit was Rs 3,772 crore in the June quarter. Revenue declined marginally to Rs 1.98 lakh crore.

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Sudarshan Chemical Q2 Results | Net profit jumps 67% to ₹30 crore
Mon, Oct 28, 2024 4:43 PM

Sudarshan Chemical Q2 Results | Net profit jumps 67% to ₹30 crore

Sudarshan Chemical Industries Ltd on Monday (October 28) reported a 67% year-on-year (YoY) jump in net profit at ₹29.9 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Sudarshan Chemical Industries posted a net profit of ₹17.9 crore, the company said in a regulatory filing.

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Softbank-backed ElasticRun trims loss
Mon, Oct 28, 2024 4:41 PM

Softbank-backed ElasticRun trims loss

Business-to-business e-commerce platform ElasticRun cut its losses by about half in the financial year ended March 2024, as a shift in focus to regional brands improved margins. The Pune-based startup, which counts Softbank, Goldman Sachs, Prosus Ventures, Norwest Venture Partners, Kalaari Capital among its backers, Monday said its losses narrowed to Rs 350 crore in FY24.

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Bharti Hexacom swings to profit at Rs 253 crore
Mon, Oct 28, 2024 4:40 PM

Bharti Hexacom swings to profit at Rs 253 crore

Bharti Hexacom reported a net profit of Rs 253 crore for the September quarter, up 237.5 percent from the year-ago period, against a loss of Rs 184 crore in the same period last year. This growth was led by tariff repair which led to ARPU increase and smartphone additions. The profit, however, declined 50.5 percent sequentially in the quarter. Revenues for the quarter were Rs 2,098 crore.

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Inflation well-contained: FinMin
Mon, Oct 28, 2024 4:39 PM

Inflation well-contained: FinMin

India's inflation is largely under control, influenced by price fluctuations in a few food items, with favorable factors sustaining the trend; economic performance in FY25 has been satisfactory, with strengthened rural demand and a stable external sector, but risks from global geopolitical conflicts and economic fragmentation remain.

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Bharti Airtel Q2 net profit zooms to ₹3,593 crore on ARPU lift
Mon, Oct 28, 2024 4:36 PM

Bharti Airtel Q2 net profit zooms to ₹3,593 crore on ARPU lift

Bharti Airtel Q2 Results | Telecom operator Bharti Airtel Ltd on Monday (October 28) reported a 168% year-on-year (YoY) jump in net profit at ₹3,593.2 crore for the second quarter that ended on September 30, 2024. In the corresponding quarter of the previous fiscal, Bharti Airtel posted a net profit of ₹1,341 crore, the company said in a regulatory filing.

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CMS Info System Consolidated September 2024 Net Sales at Rs 624.54 crore
Mon, Oct 28, 2024 4:35 PM

CMS Info System Consolidated September 2024 Net Sales at Rs 624.54 crore

Reported Consolidated quarterly numbers for CMS Info Systems are: Net Sales at Rs 624.54 crore in September 2024 up 14.86% from Rs. 543.73 crore in September 2023. Quarterly Net Profit at Rs. 90.92 crore in September 2024 up 7.78% from Rs. 84.36 crore in September 2023. EBITDA stands at Rs. 166.64 crore in September 2024 up 8.23% from Rs. 153.97 crore in September 2023.

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