Tag: shares

Muthoot Finance shares jump over 7% on strong Q3 results; NIM at 17.1% highest in 12 quarters

Loknath Das

Shares of Muthoot Finance ltd jumped over 7 percent on Monday, buoyed by a strong third quarter performance. The gold finance company’s shares quoted at Rs 792.35 apiece, up 6.3 percent on BSE at 9.36 am. The stock opened at Rs 774, up over 3.5 percent from its Friday’s close of Rs 746.60. The stock surged to a new 52-week high of Rs 801.70 per share. So far this year, the stock has gained nearly 3 percent, while the one year return on the stock is more than 50 percent…

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NBFC risk-weight move sends gold finance companies’ shares soaring

Loknath Das

Mumbai: Gold finance companies Manappuram FinanceNSE 0.72 % and Muthoot FinanceNSE 0.39 % rallied on Thursday after the RBI in its sixth bi-monthly monetary policy said that it will assign risk weights for rated exposure of banks to all NBFCs. While Muthoot Finance ended up 6.5 per cent to Rs 515.60 and Manappuram Finance gained 7.7 per cent to Rs 104.05 on Thursday. Earlier, claims on exposure of corporates, asset financing companies and infrastructure NBFCs were risk-weighted as per their ratings. But for NBFCs, which are systemically important non-deposit taking NBFCs there was a blanket 100 per cent…

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Finance ministry’s own division shares EC’s concerns on electoral bonds & transparency

Loknath Das

Amendments proposed that contributions received through electoral bonds be excluded from political donations act | Wikipedia The Financial Sector Reforms and Legislation Division has agreed with the EC’s view, which is that the new laws are ‘retrograde’ and need to be withdrawn. New Delhi: The Election Commission’s concerns over the transparency of electoral bonds, introduced via the Finance Act, 2017, have been supported by the Financial Sector Reforms and Legislation Division of the finance ministry. According to an RTI filed by activist Commodore Lokesh Batra (retd), an official email from the…

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India by train — with dogs? One couple shares their story

Loknath Das

(CNN) — It’s a cool November morning, and my husband and I are waiting at a crowded railway station in New Delhi, India, about to set off on yet another journey with our furry travel companions, Marco-polo and Tigress. Now accustomed to train travel, the dogs are eager to board the first car they see. A sea of people stares at us, some asking why we are traveling with them, laughing at us. Others question us about the dogs’ breeds — a mixed coonhound and an Indie. More people come over to join the…

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HSBC’s $2.5 billion buy-back boosts shares as bank postpones profit goal

subhadip

HSBC (HSBA.L) announced a $2.5 billion share buy-back and pared ambitions to grow dividend payouts and returns as it took pragmatic steps to soothe investors amid slowing growth in its home markets of Britain and Hong Kong. The lender’s London-listed shares were trading 3.6 percent higher at 0808 GMT (4:08 a.m. ET) after the buy-back took the sting out of a 29 percent drop in January-June pretax profits, which matched analysts’ expectations. As Britain’s vote to leave the European Union clouds economic prospects and Hong Kong absorbs slower growth in…

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Energy shares drag FTSE lower after Doha deal disintegrates

subhadip

Britain’s top share index came under pressure on Monday after major oil producers failed to reach an agreement to freeze output over the weekend, sending shares in energy stocks lower. Oil & gas companies were the top sectoral fallers after a deal to freeze oil output by OPEC and non-OPEC producers broke down on Sunday, sending oil prices tumbling. OPEC’s de facto leader Saudi Arabia demanded that Iran, which was absent from the talks, join the global deal despite calls on Riyadh to save the agreement and help prop up…

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