InterGlobe Aviation, the parent company of IndiGo, saw a sharp increase in its stock price by 4.45% after reporting a 15-fold increase in profit and 30.1% increase in revenue in the December quarter. On the other hand, India's largest public lender, State Bank of India, saw a drop in its stock price by 0.35% despite a 4.6% increase in NII. In the NBFC sector, LIC Housing Finance's stock price rose by 31.3% after reporting a jump in NII but a slight decline in NIM. The parent company of Paytm, One 97 Communications, has been facing a huge downfall since RBI's order to stop accepting fresh deposits, leading Zee Business's Managing Editor to suggest selling the stock.
IndiGo's Remarkable Performance: InterGlobe Aviation, the parent company of IndiGo, witnessed a remarkable surge in its stock price, driven by impressive financial results. The company's profit soared by 15-fold, while revenue increased by 30.1% in the December quarter. This positive performance contributed to the 4.45% stock price increase.
State Bank of India's Mixed Results: State Bank of India, India's largest public lender, experienced a contrasting performance. Despite a 4.6% growth in net interest income (NII), the stock price dropped by 0.35%. Investors seemed cautious as the bank faces challenges in managing its asset quality.
LIC Housing Finance's Strong Showing: LIC Housing Finance recorded a significant 31.3% gain in its stock price. This rise was fueled by a jump in NII, although the net interest margin (NIM) witnessed a slight decline. The company's solid performance resonated with investors, leading to the stock's positive movement.
Paytm's Troubles Continue: One 97 Communications, the parent company of Paytm, faced a steep decline in its stock price following the Reserve Bank of India's (RBI) directive to stop accepting fresh deposits. The stock's downward trajectory prompted Zee Business's Managing Editor to recommend selling the stock, highlighting the challenges Paytm faces in navigating the regulatory landscape.
Additional Information and Links:
FAQs:
Why did IndiGo's stock price increase?
What caused the drop in SBI's stock price?
What drove LIC Housing Finance's stock price surge?
What is impacting Paytm's stock price?
Where can I find more information on these companies?
The Goods and Services Tax (GST) has revolutionized indirect taxation systems in many countries. The Forward Charge Mechanism (FCM) and Reverse Charge Mechanism (RCM) are the two key mechanisms behind its functioning that aim to simplify and streamline taxation. While FCM is the standard approach for most transactions, RCM is applied in specific circumstances to ensure compliance and tax collection from certain categories of suppliers. Understanding these mechanisms is crucial for businesses to efficiently fulfill their GST obligations.
The initial public offering of NTPC Green Energy IPO has been highly anticipated, but market observers are reporting a lack of interest from investors. The company's grey market premium has remained low at only 0.93% over the IPO's upper price band, signaling a lack of enthusiasm, especially from non-institutional investors. This is a stark contrast to the high GMP observed in the past, showcasing how steep pricing can impact investor interest. However, shareholders of NTPC Ltd have an advantage, with a 10% quota reserved for them in the IPO.
Union Minister of Textiles Giriraj Singh highlighted the significance of carbon fibres in the textile industry and India's focus on amplifying technical textiles at the India International Trade Fair. With a budget allocation of Rs1,500 crore for research and development in the sector, the government aims to enhance the textile value chain and promote sustainable products. Singh also stressed on the important role of the handloom industry, which has zero carbon and water footprint, in the transition towards sustainability.
Despite initial signs of recovery, the Indian stock market faced a decline in early trade on Monday due to persistent foreign fund outflows, IT stock sell-offs, and weak cues from US markets. The downward trend was reflected in both the Sensex and Nifty, with major companies like Infosys, Tech Mahindra, and Tata Consultancy Services among the major losers. The rupee also saw a slight recovery against the US dollar, but foreign investors continued to pull out funds from the Indian equity market, adding to the ongoing sell-off.
In a blow to the profitability of gas companies, GAIL has slashed the allocated APM gas supply to IGL, MGL, and Adani Total Gas by up to 20%. With a trend of declining production, the supply cut to city gas distributors is a worrying development. This has led to a steep decline in the share prices of IGL and MGL, with domestic brokerages predicting a higher supply from expensive fields. International brokerage firms, however, foresee higher costs and a decline in margins for these gas companies.
The highly anticipated Initial Public Offering (IPO) of NTPC Green Energy Ltd (NGEL) is opening on November 19, with analysts recommending investors to subscribe at the cut-off price for long-term gains. While the company shows potential for robust growth, there are also risks to consider, such as its dependence on imported components without long-term contracts and its concentration of projects in Rajasthan. With NTPC Ltd's ambitious plans to increase its renewable energy capacity, NGEL's geographically diversified operations make it a key player in achieving this goal.
In a recent survey of UK contact centre industry readers, it was discovered that voice still plays a significant role in customer engagement. To keep up with evolving customer expectations and advances in technology, Business Systems and Teneo.ai are teaming up to host a webinar on embracing a digital-first approach in contact centres. In addition, Intradiem has announced a partnership with Five9 to improve real-time contact centre performance, while "The UK Contact Centre Decision-Makers’ Guide" offers valuable insights and data on industry trends. Meanwhile, H&M's decision to close their contact centre in Edinburgh highlights the importance of adapting to changing customer needs. With new AI-powered capabilities integrated into contact centre solutions, companies like Mitel and Talkative are empowering businesses to scale their investments in automation and AI to better serve their customers.
Infosys co-founder and business leader N.R. Narayana Murthy stirred up controversy with his recent statement at the CNBC Global Leadership Summit, stating that he does not believe in work-life balance and praising Prime Minister Narendra Modi's 100-hour work week. This statement received widespread criticism, with many arguing for the importance of maintaining work-life balance. However, Murthy remains unapologetic, citing the hard work of government officials as an indication of appreciation. In light of this debate, the idea of a 70-hour work week is put into perspective, raising questions about the expectations and pressures on working professionals in India.
Mumbai's popular Metro Line 3 faced a temporary shutdown today as the BKC Metro Station was temporarily closed for operations. According to officials, the rest of the metro line remains fully functional and the temporary closure was for maintenance purposes. The unexpected shutdown caused some inconvenience to commuters, but authorities assure that the issue will be resolved soon.
Meme stocks have become a hot topic in the stock market, with investors flocking to these highly volatile and speculative stocks. These stocks refer to those that skyrocket in price and trading volume due to social media buzz. However, investing in these stocks can be risky, as they are often overvalued and not based on strong fundamentals. While some investors have seen success with meme stocks, others caution against putting too much of one's portfolio into these highly unpredictable investments. It's a trend that may not last, and predicting when it will reverse can be a costly guessing game.