BUSINESS
Small finance banks' AuM seen rising 20% in FY22: ICRA
Small Finance Banks' main objective is to take basic banking activities to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries, among others. Like other commercial banks, these banks can also lend and take deposits. As per the rating agency's report, even as the growth in portfolio is expected to drive an improvement in revenue, the expected elevated credit costs are likely to keep the profitability subdued in FY22.
EV push, rising sales support Tata Motors' shares in 2021; outlook positive
The automaker's shares rose 160 per cent in the past one year period. On Monday, it settled at Rs 496.8 apiece. Notably, automobile manufacturer Tata Motors' passenger vehicles vertical sold more units than Hyundai Motor India in December, and became the second largest seller after Maruti Muzuki during the month. Tata Motors' total domestic passenger vehicle sales rose by 50 per cent to 35,299 units from 23,545 units off-take in December 2020.
India's mfg sector grows in Dec, but slower than in Nov: PMI
The headline seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) came in at 55.5 (index reading). The PMI ranges between 0 and 100, with a reading of above 50 indicating an overall increase compared to the previous month. In November 2021, the headline seasonally-adjusted index had risen to 57.6, and the latest quarterly reading was at 56.3.
Nifty is due for a pause, may even ease in early part of 2022: Report
After a stellar two years for the Nifty where it even left the S&P behind at times (even in US Dollar terms), we believe the valuation does not fully reflect upcoming headwinds, the report said.
CryptoWire introduces India's first global index of Cryptocurrencies IC15
The IC15 tracks and measures the performance of the top 15 widely traded liquid cryptocurrencies listed on leading crypto exchanges of the world, the company stated.
Equities trade positive in first trading session of 2022
At 9.30 a.m., Sensex traded at 58,589 points, up 0.6 per cent from its previous close of 58,253 points. It opened at 58,310 points.
Sri Lanka could go bankrupt this year
The meltdown faced by the government, led by the strongman president Gotabaya Rajapaksa, is in part caused by the immediate impact of the Covid crisis and the loss of tourism but is compounded by high government spending and tax cuts eroding state revenues, vast debt repayments to China and foreign exchange reserves at their lowest levels in a decade, the report said. Inflation has meanwhile been spurred by the government printing money to pay off domestic loans and foreign bonds.
Rising Covid cases likely to dampen equity market in New Year
In the past few days, due to increasing caseload several states have brought in some sort of restrictions, curfews, closure of select activities. "Now onwards the rise could be slower in the new year when all players will return to their trading desks, 17,161 points is a support in the near term while 17,405-17,534 band could provide resistance," said Deepak Jasani, Head of Retail Research at HDFC Securities.
Tata Motors' PV sales overtake Hyundai in December
Besides, PVs, Tata Motors has a major presence in the commercial vehicle segment. Tata Motors' total domestic passenger vehicle sales rose by 50 per cent to 35,299 units from 23,545 unit off-take in December 2020. "Tata Motors PV business growth journey continued and set several new milestones during the quarter despite witnessing a shortfall in production due to the ongoing semiconductor crisis," said Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors.
Divestment-bound Air India's H1FY22 net loss rises over 43%
The airline's net loss rose to Rs 5,422.6 crore during the period under review from Rs 3,779.26 crore reported for the previous corresponding period. These figures were a part of the unaudited standalone financial results for the half year ended September 30, 2021, as reviewed by IANS. Besides, the company reported a YoY rise in its revenue of 21 per cent to Rs 5,524 crore.
Don't Miss
Advertisement