Banks have expanded their loan book by 9.3% with an additional Rs 15.3 lakh crore in the first 11 months of the financial year. Personal loans accounted for the largest share, with housing loans contributing significantly. Agriculture and vehicle loans also saw notable growth.
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Wipro's consolidated net profit for the December quarter rose by 24.4% to Rs 3,354 crore, with operational revenue reaching Rs 22,319 crore. The IT firm announced an interim dividend of Rs 6 per share and raised its capital allocation policy payout ratio to 70%.
RBI's decision to infuse ₹1.5 lakh crore liquidity boosted banking stocks, leading to a sensex rise of 530 points. Despite a late sell-off, major banks led gains, while foreign funds continued selling. Mid- and small-cap sectors saw declines. Upcoming events, such as the US FOMC meeting and Union Budget, are expected to contribute to market volatility.
Stock market crash: It's mayhem in the Indian stock markets for the last few months with Sensex and Nifty correction entering double-digits. What should investors do? Where can you put your money, if not in equity markets? We take a look:
Gold prices soared to a record Rs 91,250 per 10 grams in Delhi, driven by strong buying from stockists and retailers, and heightened international market trends. Growing fears of a US recession and geopolitical tensions have boosted gold's appeal as a safe-haven asset. Meanwhile, silver held steady at Rs 1,02,500 per kg, reaching historic highs.
March is historically the best time for Indian stock market returns, and a similar trend is expected this month. Nifty and other indices have shown positive average returns in March over the last decade, barring 2020. Analysts suggest that current market dynamics and financial stock performance support a potential rebound in the stock market.
DeepSeek, a Chinese AI app, has achieved the top spot in Apple's App Store productivity category, surpassing ChatGPT. Founded by Liang Wenfeng, DeepSeek’s R1 AI model is noted for its efficiency and low cost. It’s gaining global attention for its strong performance and has been praised by industry leaders, though some remain skeptical about its development costs.
US stocks opened higher, signaling market stabilization amidst trade tension volatility. Bond yields slightly decreased, and the dollar steadied after a recent slide. Bank stocks led gains, with Bank of America and Citigroup exceeding earnings expectations. However, Boeing shares dropped following reports of China halting aircraft deliveries, reflecting ongoing trade war concerns.
Godavari Biorefineries is investing Rs 130 crore in a new 200 KLPD corn/grain-based distillery to boost ethanol production. The facility, expected to be operational by March 2026, will provide dual-feedstock capability, enhancing flexibility and resilience against climate-related disruptions. This investment will help meet the increasing demand under India's ethanol blending program.
Emami's MD, Harsha Vardhan Agarwal, new Ficci president, states that consumption slowdown, impacted by inflation, will take a few quarters to normalize. He suggests controlling inflation and boosting government spending to revive demand, noting a mixed bag for FMCG with rural uptick and urban slowdown.
The Indian stock market closed higher, led by gains in financial and energy stocks following the RBI's $21 billion liquidity infusion and lower crude prices. The BSE Sensex and Nifty 50 both rose significantly. Positive global cues, particularly from a temporary tariff reprieve in the US, also bolstered investor sentiment.