Latest Stock Market News

Ujjivan Small Finance Bank plans to apply to the RBI for transitioning to a universal bank, aiming for lower capital adequacy requirements and decreased priority sector lending targets. Third-quarter net profit dropped 64% due to higher provisions amid microfinance stress. Deposits grew 16.3% year-on-year.

Bank lending outpaces deposit growth in early Q4, pressuring resources and raising deposit rates. Lending is up 11.5% year-on-year as of January 2025, with a slowdown attributed to RBI measures and market concerns. Banks focus on reducing their credit-to-deposit ratio to manage fund costs and profit margins.

Coforge and Persistent Systems soared 11.5% and 10.3%, respectively, on Thursday. KPIT Technologies and Mphasis gained over 3% each, while LTI Mindtree and L&T Technologies rose 2.4% and 1.06%, respectively. Cyient moved up 2%.

The Reserve Bank of India (RBI) has requested commercial banks to report the impact of the proposed stringent liquidity coverage ratio (LCR) norms, which require banks to hold more high-quality liquid assets (HQLAs). The norms are intended to mitigate withdrawal risk but may constrain lending capacity.

Angel One, the third-largest broker by client base, posted a 17% quarter-on-quarter (QoQ) decline in revenues for the December quarter. Its net profit plunged 34%, falling from ₹423 crore in September to ₹281 crore in December.

On Thursday, RBI injected more than ₹1.45 lakh crore via two overnight variable rate repo (VRR) auctions and a buyback operation of ₹9,666 crore. The RBI will conduct a similar VRR auction on Friday for ₹2 lakh crore, along with a 14- day auction for ₹1.75 lakh crore, maturing on February 7.

The RBI allowed the currency to move both ways, with minimal intervention. There were also flows into the Indian bond market in anticipation of a rate cut on February 7, but dollar demand from foreign banks offset the gains," said a bond dealer at a private bank.

United Spirits Ltd on Thursday reported a 4.3 per cent decline in consolidated net profit at Rs 335 crore in the December quarter, impacted by higher expenses and severance costs related to a closed unit.

Indus Towers reported a 160% on-year jump in net profits at Rs 4,003 crore in the fiscal third quarter, on the back of strong tower additions, and significant collections of overdues from Vodafone Idea, which is one of its major customers.

Associated Alcohols and Breweries (AABL) outperformed market volatility, gaining 27% in three months. The company’s focus on premium products, expanded proprietary brands, and new markets supports analysts’ forecast of 26% revenue and 40% profit growth by FY27.