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SBFC raises Rs 304 crore from 37 anchor investors

Updated at : 2023-08-03 07:25:01

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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

IOB net profit up 28% on written-off recoveries

Updated at : 2023-08-03 07:25:01

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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%.

Indices tank 1% after Fitch spoils mood on Street

Updated at : 2023-08-03 07:25:01

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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.

According to bulk deals data available with the exchanges, Madhuri Kela has bought 50.2 lakh shares or 5.3% stake in the company. The transaction was done at a weighted average price of Rs 61.65.

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Early moves in U.S. financial markets on Wednesday indicated some aversion to riskier assets as investors assessed the impact of the surprise downgrade.

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The company’s bookings during the quarter declined 11% to Rs 2,254 crore with 2.25 million sq ft sales. The developer added four projects with a total estimated saleable area of 3.7 million sq ft and potential booking value of Rs 6,450 crore between April and July.

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The Delhi-headquartered drugmaker posted Rs 298 crore in the corresponding quarter of the previous year. Revenue rose 18% YoY to Rs 2579 crore in Q1FY24.

The profit was over 92% higher than Rs 3,222.62 crore net profit in the preceding quarter. Last year, HPCL and other government-owned fuel retailers -- Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL) -- froze retail petrol and diesel prices to cushion domestic consumers from rising international oil rates.

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Private payrolls rose by 324,000 jobs last month, the ADP National Employment report showed, more than an increase of 189,000 that economists polled by Reuters had forecast.

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