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The brokerage expects profitability to register a 46% CAGR over FY22-24 despite a rise in the operating costs.

The markets are keenly watching for fiscal balance that the government is able to achieve between the need to spend more and to reduce deficit

A total of 65,676 shares changed hands on the counter till 03:07PM (IST)

The total income remained flat at Rs 3,926.75 crore during the third quarter, as against Rs 3,934.90 crore a year ago, Federal Bank said in a regulatory filing.

As of 31-Dec-2021, promoters held 46.74 per cent stake in the company, while FIIs held 18.88 per cent and domestic institutional investors had 13.61 per cent.

Shriram Transport Finance reported a 6.47 per cent decline in standalone profit after tax at Rs 680.62 crore in the quarter ended December 2021, while net interest income increased by 11.16 per cent. The company had reported a profit after tax of Rs 727.72 crore in the same period of the previous year.

The second largest telco’s decision has flummoxed the market watchers. According to brokerage firm Jefferies, it has “come as a surprise as there is no immediate need for capital”.

The wish list so far includes the government bringing down licence fees from 3 per cent to 1 per cent and reducing spectrum usage charge (SUC) rate by 3 per cent on spectrum acquired in past auctions

The revenue from operations came in at Rs 887.75 crore, up 14.73 per cent from Rs 773.73 crore in the corresponding quarter last year.

As of 31-Dec-2021, promoters held 74.36 per cent stake in the company, while FIIs held 16.46 per cent and domestic institutional investors had 2.63 per cent.