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"The rise of alternative credit has become a crucial factor in enabling growth for Indian startups, and BlackSoil intends to remain a preferred lender to support their expansion," the company said.

SMP Chairman P L Haranadh attributed the net surplus growth to higher cargo handling, cost-cut measures and reduction in the requirement for contribution to the pension shortfall fund.

It achieved 9,212 MU overall volume in March 2023, including green market trade of 391 MU, 8.69 lac RECs (equivalent to 869 MU) and 22,881 ESCerts (equivalent to 23 MU), a statement said.

It expects HCL to negatively surprise analyst expectations, while also seeing downside risks to demand

The current banking crisis will be felt for years to come, and the industry is not yet out of the woods, according to JP Morgan Chase CEO, Jamie Dimon. He highlighted that recent bank failures have caused a drop in the stock market, increased the possibility of a recession, and have significantly changed market expectations. The possibility of the Federal Reserve needing to keep interest rates high for longer than expected is a concern, and risks posing “storm clouds” include “higher inflation for longer” and “growing political risks,” he said.

The company’s core assets under management or AUM as of March 31 stood at Rs 2.47 lakh crore, 29% higher from the year-ago period. In the quarter ended March, the AUM grew by approximately Rs 16,500 crore.

This got aggravated by the financial instability in the regions following the collapse of Silicon Valley Bank and the crisis in Credit Suisse.

Pakistan’s rupee hit a record low against the US dollar on Tuesday, with the interbank market closing at 287.29 against the greenback. The figure is down 0.78% on Monday’s close of 285.04. The country has missed deadlines to receive IMF funding, with the lending institution asking Pakistan to secure new loans from Saudi Arabia and the United Arab Emirates before any bailout can be paid. Additionally, contracting forex reserves have caused investors to worry about the country’s economic state. The foreign exchange reserves held by Pakistan’s central bank have fallen to just $4.24bn.

The dividend payment by Britannia today could be to share the one-time profit it made in the December quarter from the sale of stake in French dairy subsidiary Bel SA.

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