Tuesday, September 15
The Reserve Bank of India (RBI) is expected to announce a 25 basis points (bps) repo rate cut in the upcoming Monetary Policy Committee (MPC) meeting scheduled from August 5 to 7, according to a report by the State Bank of India (SBI).The report said a frontloaded rate cut in August could bring an "early Diwali" by boosting credit growth, especially as the festive season in FY26 is also frontloaded. It added that past data show a clear trend, any repo rate cut ahead of Diwali results in higher credit growth during the festive period.It stated, "We expect RBI to continue frontloading with a 25 bps cut in August policy."Citing an example, the report noted that a 25 bps repo rate cut in August 2017 led to an incremental credit growth of Rs 1,956 billion by the end of Diwali, with almost 30 pe
New-age third party logistics firm Delhivery on Friday reported a 68.5% year-on-year jump in its net profit for the first quarter ended June to ₹91 crore, driven by tighter operations and stable revenue. The company reported a 5.6% growth in its operating revenue at ₹2,294 crore. The firm's biggest segment of express parcel shipments saw a 14% volume growth to 208 million. In the post-earnings analysts call, Delhivery CEO Sahil Barua said the impact of volume growth from Ecom Express acquisition will be visible from the July-September quarter. The deal was closed on July 18.Delhivery will incur integration costs of around ₹300 crore over a six-month period. Barua said the acquisition would increase Delhivery's market share in the third-party logistics (3PL) segment by around 25% - co
Adani Power on Friday said its board of directors has approved a stock split, dividing each existing equity share of face value '10 into five equity shares of face value '2 each. "The subdivision of shares is intended to encourage wider retail participation by making the stock more affordable," it said in a regulatory filing.The company on Friday also reported a 15.5% fall in its consolidated net profit for the first quarter ended June to '3,305 crore from '3,913 crore a year earlier. Revenue from operations declined 5.9% to '14,167 crore from '15,052 crore.Its consolidated earnings before interest, taxes, depreciation and amortisation (Ebitda) from continuing operations stood at '5,744 crore in the first quarter, down from '6,290 crore a year ago, primarily due to lower revenue and added
