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The SBI-promoted card issuance company had reported a net profit of Rs 305 crore in the April-June quarter of the previous fiscal (2021-22).Its total income during the quarter rose to Rs 3,263 crore against Rs 2,451 crore a year ago, SBI Cards said in a regulatory filing.

“I just want to emphasise that Biocon Biologics or Biocon as a business must be viewed in terms of core EBITDA and not just on EBITDA because as you know R&D is a very integral part of our business growth which needs to future proof us and therefore, we cannot afford to decrease R&D spending to sustain growth.”

The digital-payments provider is set to become India’s first internet company to hit $1 billion in annual revenue by the end of this fiscal year in March, said Vijay Shekhar Sharma, 44. The brand, known formally as One97 Communications Ltd., is also shifting its attention from growth toward profitability, Sharma said in his first extensive interview following the high-profile public debut in November.

Adani Capital’s first-time share sale will offer about a 10% stake in the shadow bank and target a valuation of around $2 billion, Managing Director and Chief Executive Officer Gaurav Gupta said.

“A lot of developers use our data to identify the benefit of the area where they are going to launch a project. PropTech companies have received good responses from the market. The fund will help us to expand our presence, especially in tier 2 cities, which has witnessed a lot of traction post covid,” said Jasuja.

“Markets will start to pay back expectations of timing and start to price in rate cuts as the dollar loses some of its upward momentum. It bodes well for eventual return of capital into India and other emerging markets. So much capital has flown out of EMs that we may start to see a bit of stabilisation in the next few months and even a return of capital as we move towards the end of this year.”

The stock traded at a P/E multiple of -118.86, while the price-to-book value ratio stood at 4.71.

The broader Topix inched up 0.16% at 1,948.85.The Nasdaq jumped more than 4% on Wednesday in its biggest daily percentage gain since April 2020, as the Federal Reserve raised interest rates as expected and comments by Fed Chairman Jerome Powell eased some worries about the pace of rate hikes.

The two companies combined are buying back $8 billion in shares in the third quarter after recording their respective highest quarterly profits while keeping their dividends steady, which might disappoint some investors.

The Fed hiked the main interest rate by 75 basis points as expected, and reiterated inflation control as priority, but dropped guidance on the size of the next rate rise and noted that "at some point" it would be appropriate to slow down.