Friday, September 18
ET Intelligence Group: Chemical companies are expected to post 5-10% year-on-year revenue growth for the June 2025 quarter driven by order intake ahead of potential US tariffs and a weaker rupee that boosts export realisations. Decline in the prices of raw materials will help in shielding margins."While the chemicals sector fundamentals remain soft, some companies should benefit from front-loading of orders by customers ahead of the threat of US tariffs, ramp-up in specific growth projects, and firm prices of HFC (Hydrofluorocarbon) refrigerants," noted Kotak Securities in a preview report.Lower input costs will help profitability of companies. Crude oil price averaged at $67 per barrel in the June quarter, reflecting a drop of nearly 20% year-on-year and 11% quarter-on-quarter. Prices of
Prime Minister Narendra Modi on Friday announced that India has signed a pact to extend a Rs 4,850 crore line of credit to the Maldives, after bilateral meetings between the two countries.Additionally, PM Modi announced that discussions for the free trade agreement have also started between the two nations. "We have decided to promote renewable energy. India will share its experience in this sector with Maldives. I would like to congratulate you all on this historic event and thank you for the warm welcome," said PM Modi. PM Modi is visiting Maldives at the invitation of President Muizzu and will attend the country's 60th Independence Day celebrations as the Guest of Honour.The two leaders met at Republic Square following the ceremonial welcome, which included a 21-gun salute, Guard of Hon
Mumbai: Bajaj Auto could have a "zero month" in August for its electric scooter Chetak and electric three-wheeler GoGo because of the shortage of rare earth magnets, managing director Rajiv Bajaj said in an interview. That would make it the first automaker to halt output on account of export curbs imposed by China on the key component.The scarcity due to China's move forced India's second-largest electric scooter maker by volume to halve EV numbers this month though it managed to report full production in June thanks to existing inventory, Bajaj said.China is the world's dominant supplier of rare earth magnets, vital for EV manufacturing as well as others such as internal combustion engine (ICE) powered models, renewable energy, consumer electronics, defence and aerospace, and other indust
India's forex reserves dipped by $1.18 billion to $695.49 billion for the week ending July 18, data by the Reserve Bank of India showed on Friday.Previously, India's forex reserves dipped by $3.06 bn to $696.67 billion for the week ending July 11, data by the Reserve Bank of India showed on Friday.Typically, the RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee. The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.
State-lender Bank of Baroda (BoB) on Friday reported a 2% growth in its Q1 standalone net profit to Rs 4,541 crore versus Rs 4,458 crore in the year-ago period. The company's net interest income (NII) stood at Rs 11,435 crore which was down 1.4% from Rs 11,600 crore reported in the corresponding quarter of the last financial year.The NII includes the impact of reclassification of interest on income tax refund, a company filing to the exchanges said.DepositsBoB's domestic deposits were reported at Rs 12.04 lakh crore, witnessing an 8% uptick over Rs 11.14 lakh crore in the year ago period. International Deposits were up from Rs 2.01 lakh crore in Q1FY25 to Rs 2.31 lakh crore in Q1FY26, recording a 15% growth.Total deposits stood at Rs 14.35 lakh crore, a 9% YoY uptick.AdvancesRetail Advance
