News Overview

Banking system credit growth offtake has shown a significant pick-up in the early part of FY23 with credit growth of 11.2% yoy as on 8 April 2022, compared to 5.3% yoy in same period in April 2021, and highest since July 2019.

Strengthening the financing architecture for project exports through innovative financing instruments and relooking regulations such as prudential norms for export credit agencies should be a priority,

Also, DCB Bank announced the revision to its EBLR.

On a sequential basis, the companys net profit rose 6.52% to Rs 52.11 crore while net sales gained 5.86% to Rs 300.57 crore in Q4 FY22 as compared to Q3 FY22.

India Services PMI Improves In April Indias service Purchasing Managers Index rose to 57.9 in April from 53.6 in March, survey results from S&P Global showed on Wednesday. Any score above 50.0 indicates expansion in the sector. New business inflows and output increased at the strongest pace since November last year due to higher bookings after the easing of Covid-19 pandemic-related restrictions and favorable demand […]

All major CV OEMs reported double digit growth in March’22 aided by pick up in infra projects, growth in logistics and e-commerce sector coupled with easing of finance option

Ceat declined 4.19% to Rs 1,044.55 after the company reported an 83.5% decline in consolidated net profit to Rs 25.25 crore despite a 13.2% rise in net sales to Rs 2592 crore in Q4 FY22 over Q4 FY21.

Voltas fell 7.22% to Rs 1074.65 after the companys consolidated net profit declined 23.15% to Rs 182.70 crore on 0.22% rise in net sales to Rs 2633.72 crore in Q4 March 2022 over Q4 March 2021.

The benchmarks indices extended losses in morning trade, tracking negative global cues. The Nifty was trading a tad above 16,350 mark. Banks stocks extended their downfall for the third consecutive session. At 10:25 IST, the barometer index, S&P BSE Sensex was down 1059.95 points or 1.90% to 54,642.28. The Nifty 50 index lost 327.65 points or 1.96% to 16,355. Investor sentiment were dented on concerns […]

On 13 May 2022