News Overview

Aggarwal also restated the company's goal of reaching an annual Group EBITDA of $7.5 billion within two years

U.S. oil futures were trading 2 cents higher at $82.71 a barrel, while Brent futures were up 10 cents, or 0.11%, at $87.39 a barrel.

Sequential revenues to remain broadly flat.

Loretta Mester, president of the Cleveland Federal Reserve Bank, stated that she anticipates price pressures to lessen further this year, enabling the Fed to lower borrowing costs

This move comes after receiving approval from the National Payment Corporation of India (NPCI), indicating a strategic shift in Paytm's operational framework.

A string of solid U.S. economic data and ongoing inflation have dampened expectations of rate decreases in the foreseeable future

System deposit growth has picked up to 3.5% QoQ/13.5% YoY (12.9% ex. HDFC merger), thereby narrowing the gap vs loan growth to 340bps from 540bps YoY. Based on prequarterly updates, deposit growth is strong at 3-16% QoQ and 7-42% YoY, driving LDR improvement of 25-600 bps across banks. CASA ratio also improved 40-255bps QoQ on seasonality, but is still down 1-10ppt YoY. While some of the seasonal gains will reverse in Q1, with improving cyclical factors analysts of IIFL Capital Services expect 13-14% system deposit growth in FY25. HDFC, SBI and ICICI rank high on our ‘liability franchise scorecard’, Axis is improving and Kotak is deteriorating

The initiation of new positions in the F&O contracts of these stocks is strictly prohibited under the current circumstances.

In India, petrol and diesel pricing is influenced by factors such as freight charges, value-added tax (VAT), and local taxes.

On the nifty index, Eicher Motors, Hindustan Unilever, ONGC, Titan, and Divis Lab closed as the top gainers on Wednesday.