Tuesday, October 20
Shares of RBL Bank fell as much as 5.9% on Monday to Rs 146 on the BSE after the lender reported an 86% year-on-year (YoY) decline in net profit to Rs 33 crore for the December quarter, down from Rs 233 crore in the same period last year, mainly due to issues in its microloan portfolio.The private sector bank, which has faced challenging quarters because of higher credit costs, reported a net profit of Rs 231 crore in the September quarter.The bank’s core net interest income increased by 3% YoY to Rs 1,585 crore, while other income rose by 38% to Rs 1,073 crore, boosted by the sale of its stake in NBFC DAM Capital.CEO and Managing Director R. Subramaniakumar explained that the net interest margin (NIM) fell to 4.90% from 5.52% a year ago, with 0.40% of this decline attributed to microfin
Shares of Indian Renewable Energy Development Agency (IREDA) climbed as much as 1.1% on Monday to Rs 209.50 on the BSE following the company’s announcement of the date for its board meeting to approve a fund-raising proposal through a Qualified Institutional Placement (QIP).The IREDA board is scheduled to meet on Thursday, 23 January 2025, to consider and approve the fund-raising plan via the QIP route.“This is to inform you that the meeting of the board of directors of IREDA is scheduled to be held on Thursday, 23 January 2025, inter alia to consider and approve raising of funds through the issuance of equity shares by way of a QIP,” IREDA said in an exchange filing.Last year, IREDA's board had approved raising a sum of Rs 4,500 crore by selling shares to eligible institutions.Also
