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Business

Profit booking in IT, FMCG stocks amid subdued trend

New Delhi, Jan 20 (IANS) Domestic markets exhibited a subdued trend influenced by extended holidays, low volumes, and weekly option expiration, says Vinod Nair, Head of Research, Geojit Financial Services. Profit booking was noted in IT and FMCG, while private banks witnessed selective buying post the recent sharp correction and stable Q3…
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Business

Kotak Mahindra logs Rs 3,005 crore PAT for Q3

Chennai, Jan 20 (IANS) Kotak Mahindra Bank Ltd on Saturday said it closed the third quarter of FY24 with an after tax profit of Rs 3,005 crore. In a regulatory filing, the bank said the net profit for the quarter ended December 31, 2023…
Business

IREDA net profit surges 67% in Oct-Dec quarter

Mumbai, Jan 20 (IANS) Indian Renewable Energy Development Agency Ltd (IREDA) on Saturday reported an of 67.15 per cent year-on-year increase in its net profit at Rs 335.54 crore for the October-December of the current financial year. The…
Business

Bharti Hexacom files DRHP for IPO

New Delhi, Jan 20 (IANS) Bharti Hexacom has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for proposed Initial Public Offering (IPO) for the offer by Telecommunications Consultants India…
Business

IDBI Bank logs higher Q3 PAT at Rs 1,458.18 crore

Chennai, Jan 19 (IANS) Mortgage lender IDBI Bank closed the third quarter of FY24 with higher net profit of Rs 1,458.18 crore.In a regulatory filing on Saturday, IDBI Bank said for the quarter ended 31.12.2023 it had earned a total interest…
Business

PSU stocks at new 52-week highs, post strong gains

New Delhi, Jan 20 (IANS) PSU stocks notched the top gains on Saturday, with the PSU index gaining more than 2 per cent in a flat market. Among PSU stocks, Railway stocks rose the most led by IRCON gaining more than 17 per cent, RITES…
Business

RIL trades cheap relative to Nifty: Jefferies

New Delhi, Jan 20 (IANS) RIL trades cheap relative to Nifty. We forecast 12 per cent Ebitda growth in FY25E with Jio contributing lion's share on the back of a tariff hike. Maintain Buy with Rs 3,140 PT, foreign brokerage, Jefferies said in…
Business

Wayfair to slash 1,650 jobs from its global workforce

San Francisco, Jan 20 (IANS) E-commerce company Wayfair has announced to lay off 1,650 employees, or 13 per cent of its workforce globally, to reduce costs. The latest job cuts are expected to provide the company more than $280 million in…