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Equitas Small Finance Bank on Friday reported a 87% year-on-year drop in net profit at Rs 26 crore, on account of a five-fold rise in provisions and contingencies.

Sebi was examining if the fund house had adequately recorded reasons for its investment decisions, among other things. Also, the market regulator looked into the reasons for the sale of three stocks viz. Hindustan Zinc, Sadbhav Engineering and Vodafone Idea, which resulted in losses worth Rs 1.61 crore, Rs 14.97 crore and Rs 25.43 crore, respectively. The total loss was recorded at Rs 42 crore.

Cholamandalam Investment and Finance Company has reported a 29.7 per cent growth in its profit after tax for the April-June 2024 quarter at Rs 942 crore. The company, which is the financial services arm of diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 726 crore in the corresponding quarter of last year.

The airline was forced to induct older planes due to grounding led by issues of Pratt & Whitney engines

The Thrissur-headquartered lender saw its total loan book growing 14.3% year-on-year to Rs 19,664 crore even as the first quarter disbursements stood at Rs 4,503 crore as against Rs 4,509 crore in the year-ago period.

The Dow Jones Industrial Average rose 205.79 points, or 0.52%, at the open to 40,140.86.

The local currency closed at 83.7275 per US dollar on Friday, versus the previous close of 83.6975/$1, LSEG data showed. The rupee has weakened for four out of five trading sessions this week. On a weekly basis, the currency weakened 0.1%

Domestic gold prices recovered on Friday gaining by over Rs 500 per 10 gram in intraday trade, taking cues from international prices. The prices were up ahead of the crucial inflation data in the US which could give more clarity on the timing of the interest rate cuts by the Federal Reserve.

Gautam Adani’s power transmission unit, Adani Energy Solutions, prepared a share sale of at least 50 billion rupees, with banks ICICI Securities, Jefferies Financial, and SBI Capital as advisers. The sale could conclude by mid-August.