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Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Net interest income increased by about 60% at Rs 294 crore against Rs 185 crore in the year ago period. Total income rose 53.4% at Rs 553 crore.

Indian banks, especially those privately owned, are adding branches at the fastest pace in several years to help garner deposits, upending conventional wisdom that increasing familiarity with digital modes of transaction will obviate the need for brick-and-mortar lender facilities.

ReNew has secured a project loan of ₹2,700 crore from the State Bank of India for its 403 MW Peak Power Project, signalling that local lenders that lost money having advanced large funds to power plants a decade ago are finally beginning to extend loans to them - but to only those with a robust equity component in the capital structure.

IndiaFirst Life Insurance Company has launched a non-linked and non-participating product Guarantee of Life Dreams (G.O.L.D.) Plan, that offers policyholders regular long-term income.

The June 2023 quarter earnings season so far has been muted on account of results disappointments or slower growth in IT, cement, metals and oil & gas sectors.

They included Abu Dhabi Investment Authority, Carmignac Portfolio, Loomis Sayles, and Neuberger Berman. Domestic investors such as Axis MF Aditya Birla Sun Life MF, ICICI Prudential MF, SBI MF and HDFC MF also participated

Net interest income rose 22% YoY to 5,424 crore while net interest margin improved to 3.21% from 2.53%. Asset quality improved with gross non-performing assets (NPA) at 7.13% as against 9.13% a year ago. Net NPA fell to 1.44% from 2.43%.

Fitch cited fiscal deterioration over the next three years and a decline in governance standards as reasons for the downgrade.

Titan posted a 2% year-on-year drop in its profit at Rs 777 crore in the June quarter. Its quarterly revenue jumped 19% YoY to Rs 10,306 crore.