Brahmos

However, the recovery rate from personal guarantors under the IBC currently remains low at 5.22 per cent.

The public sector giant has also clocked his highest ever half-yearly profit of Rs 19,052 crore. 

Earnings growth has been democratised in India with broader participation across companies, which is reflecting in SMIDs enjoying their time in the sun. Fragmented industrial sectors, with no clear leaders, reinforce the momentum, Emkay Global Financial Services said in a note.

Indian markets could see some challenges over the next two to three quarters. A busy election season should create political uncertainty until May 2024. Global macros are also less supportive – a strong commodity cycle and DXY strength are the key worries., A weak monsoon, additionally, could disrupt the recovery in rural spending, which has solid long-term potential. Positioning these factors against the strong rally in the markets since 29 March '23 (Nifty: +15.2%; Nifty Midcap: +35.6%), the case for a ‘pause for breath’ becomes stronger, the report said.

The company also said it closed the second quarter of FY24 with a net profit of Rs 3,105.75 crore.

In a regulatory filing, the company said on a standalone basis for the quarter ended September 30, it had earned a total income of Rs 78,406 crore (Q2FY23 Rs 46,181.96 crore) and a net profit of Rs15,976 crore (Rs.10,605.78 crore).

After opening with a negative note, the market slipped into further weakness soon after the opening. It later showed minor upside recovery from the lows, but was not able to sustain the recovery towards the end, he said.

The Reserve Bank of India (RBI) has projected India’s Gross Domestic Product (GDP) to grow at 6.5 per cent in Financial Year (FY) 24.

In a regulatory filing HDFC Life said it had earned a net premium of about Rs 14,755 crore (Q2FY23 Rs 13,110 crore) and a net profit of about Rs 376 crore (Rs 326 crore).