3 lakh crore in usd

The average estimate of a poll of five brokerages by Moneycontrol had put Bajaj Finance’s net profit at Rs 2,928 crore Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Bajaj Finance Ltd reported on January 27 a consolidated net profit of Rs 2,973 crore, a jump of 40 percent year-on-year (YoY) for the December quarter, largely in line with analysts’ expectations. The average estimate of a poll of five brokerages by Moneycontrol had put the lender’s net profit at Rs 2,928 crore for the quarter compared with Rs 2,125 crore reported in the corresponding quarter a year ago. On a standalone basis, the non-bank finance company's net profit grew by 36 percent to Rs 2,624 crore. The net profit surge comes on the back of a healthy growth in disbursements that lifted net interest income by 24 percent to Rs 7,435 crore for the December … [Read more...] about Bajaj Finance Q3 net profit surges 40% to Rs 2,973 crore, meets estimates

Under the scheme, Hinduja Global will buy back 60 lakh shares from eligible shareholders (Representative image) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Hinduja Global Solutions on January 27 informed the exchanges that its board has fixed March 6 as the record date for the planned share buyback worth up to Rs 1,020 crore. The buyback price has been fixed at Rs 1,700 per share, the outsourcing solutions provider said in a regulatory filing, adding that the the buyback size does not include the transaction costs incurred. Hinduja Global added that these terms of buyback are within the maximum limits approved by the board in its meeting on December 19, 2022 , and as approved by shareholders as a special resolution voted through postal ballot, the company said. Results of the postal ballot were announced on January 27. … [Read more...] about Hinduja Global Solutions fixes March 6 as record date for Rs 1,020 crore buyback

Representative Image Lending firm Avanse Financial Services (Avan) has raised a primary capital of Rs 800 crore from Kedaara Capital, the firm said a January 19. The funds would be deployed to expand presence and outreach by lending to Indian students and towards the development of the Indian education ecosystem. Warburg Pincus continues to be the majority shareholder in the company, the statement said. “The growth capital will enable us to strengthen our brand proposition, integrate digital solutions and innovate to build more depth into our product range as we work towards delivering greater stakeholder value,” founder Amit Gainda said in the statement. Founded in 2013, Avanse is a tech and education-focused non-banking financial company that aims to provide financing to students.  It offers student loans, professional loans like skill enhancement as well as institution loans. As the world recovers from the coronavirus pandemic, the company was seeing a significant … [Read more...] about NBFC Avanse Financial Services raises Rs 800 crore from Kedaara Capital

Hariom Pipe Industries | CMP: Rs 317.90 | The stock price surged over 11 percent after the company completed the setting up of its 15 tonne electric melting furnace and the commercial production from the same will commence from November 25, 2022. This will increase the company's production of MS billets from the current 95,832 MTPA to 1.04 lakh MTPA. Hi-Tech Pipes on Saturday reported over 28 per cent jump in its consolidated net profit to Rs 13.02 crore for the December 2022 quarter on account of higher income. The company had clocked Rs 10.16 crore during the same period of the preceding fiscal, the steel pipes maker said in a regulatory filing. … [Read more...] about Hi-Tech Pipes Q3 net profit grows 28% to 13 crore

The average estimate of a poll of five brokerages by Moneycontrol had put Bajaj Finance’s net profit at Rs 2,928 crore Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Bajaj Finance on January 27 reported healthy standalone third-quarter earnings with double-digit growth in the bottom line on strong growth in assets under management (AUM) and net interest income. Here are the top five takeaways from the lender's Q3FY23 earnings: Strong net profit The non-banking finance company’s standalone profit after tax (PAT) rose 36 percent on-year to Rs 2,624 crore in the December quarter. While, the consolidated PAT for Q3 FY23 increased by 40 percent to Rs 2,973 crore from Rs 2,125 crore in Q3 FY22. Read More The net profit is largely in line with analysts’ estimates. The average estimate of a poll of five … [Read more...] about Bajaj Finance Q3 results: Here are five key highlights

Bandhan Bank's advances for the quarter rose 11.1 percent YoY to Rs 97,787 crore Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Bandhan Bank on January 20 posted a 66 percent drop in its net profit for the December quarter (Q3FY23) at Rs 290.57 crore amid a sharp jump in provisions and total cost. The lender had logged Rs 858.97 crore profit in the year-ago period. Its total expenditure rose 34.65 percent from the year-ago period to Rs 2,918.77 crore. Provisions and contingencies jumped 91.32 percent to Rs 1,541.49 crore versus Rs 805.71 crore year-on-year (YoY). Meanwhile, net interest income (NII) or the income a bank earns by giving loans, fell marginally by 2.1 percent YoY to Rs 2,080.43 crore. Other income increased nearly 45.74 percent YoY to Rs 1,033.30 crore. The lender's non-performing assets improved. Gross … [Read more...] about Bandhan Bank Q3: Net profit falls 66% YoY on higher provisions, total cost

Everyone has the perpetual desire to earn and save money and has the expectancy to grow their money multifold. It’s a perennial search for options and one can equate the financial market to the ocean. The German linguist Heinrich Zimmer once described the ocean as “limitless and immortal, the beginning and end of all the things on earth”. Equivalently the financial market has never been run short of investment options or investment possibilities. Hence, the plethora of options for making money grows for future purposes, and people are caught in the middle of what options might be the better choice to get a Fixed return for a shorter or longer duration. As the ocean has the biggest fish, the finance market has the FD (Fixed Deposit) which has been predominantly trusted by investors. There are other better yield instrument options available, yet those instruments lack adequate trust among investors. Lately, equity, mutual funds, PPF, crypto, and Government bonds have become the … [Read more...] about Why are NCD IPOs important to invest in?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on HDFC AMC HDFC AMC is among the largest and profitable mutual funds with an QAAUM of ~Rs 4.4 lakh crore as on December 2022. Market share as on Q3FY23 was at 11.2% • Strong distribution network with 228 branches and over 75,000 empanelled distribution partners. Outlook We maintain our BUY rating on the stock. However, growth in AUM amid gain in market share to compensate for pressure on yield & drive earnings growth. Thus, we value the business at ~27x FY25E EPS and revise our target from Rs 2600 to Rs 2250. For all recommendations report, click here Read More Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website … [Read more...] about Buy HDFC AMC; target of Rs 2250: ICICI Direct

Representative image Hospitality and travel-tech firm OYO estimates its revenue in 2022-23 to be USD 751 million on the back of which it expects to post its first operating profit in a full year, company Founder and Group CEO Ritesh Agarwal has told its employees. At an employees townhall held this week, Agarwal is understood to have shared how the company has been able to gradually strengthen its financials after overcoming the challenges of the pandemic. The company expects its revenue in FY23 to be USD 751 million, up 19 per cent from USD 629 million in FY22, he told the employees through a presentation during the townhall. In the first half of the fiscal year, OYO posted an adjusted EBITDA of USD 8.3 million. It had registered an adjusted EBITDA loss of USD 37 million in the same period of FY22. For the second half of the fiscal, continued momentum on topline coupled with margin expansion and healthy operating leverage are expected to result in USD 24 million adjusted … [Read more...] about OYO estimates its revenue to be $751 million in 2022-23: Ritesh Agarwal

Honasa Consumer, parent of Mamaearth, is looking to raise Rs 400 crore through a fresh issue of shares, apart from an offer for sale of around 4.7 crore shares. “Valuation discovery is a process which will take place over time as we get into deeper conversations with investor community”. That was Mamaearth co-founder Ghazal Alagh’s response after the company faced #FinTwit’s ire for demanding a ‘sky-high, disastrous’ valuation for its public offering. Keeping Alagh’s comment aside, it is certain that Bollywood actor Shilpa Shetty will be laughing all the way to the bank as her Rs 6.8 crore investment in the company will grow multi-fold. The question is by how much? Let’s assume that Mamaearth lists at Nykaa’s current market capitalisation-to-sales (or price-to-sales) valuation, given both are direct-to-consumer (D2C) companies in the beauty and personal care (BPC) space. Nykaa trades at 7.4 times P/S based on FY23 annualised sales. Honasa Consumer, parent of Mamaearth, … [Read more...] about Shilpa Shetty could make a killing from Mamaearth IPO. Here’s how