Sunday, October 25
Mumbai: India's monthly demat account additions in December grew at the slowest pace in 10 months as the recent declines in the stock market and regulatory restrictions on equity derivatives discouraged investors and traders from opening new accounts.The total number of demat accounts rose by 1.65% to 185 million in December from 182 million in November - the slowest growth in percentage terms since February 2024."Since the beginning of October, markets have been in a correcting phase, marking a reversal in trend," said Jimeet Modi, CEO of Samco Securities. "Given these corrections, the fall in the new addition of demat accounts is expected as investor sentiment has turned negative."Since October 1, the Nifty fell about 8.2% while the Sensex declined 7.3%, led by foreign investor selloff a
Cement producers are likely to record net profit declines in the December quarter, spurring another round of earnings downgrades, offsetting the recent momentum in sales volume and prices.Cement makers' revenues are expected to remain flat from a year earlier in the December quarter despite a 7-8% increase in sales volumes, according to analyst estimates. While earnings before interest, tax, depreciation and amortisation (Ebitda) for these companies are seen falling 20-30% year-on-year, profit is likely to decline by as much as 30-60% for some, the estimates showed."While soft power/fuel prices are positive, an earnings downgrade for FY25E-26E is likely on the cards considering the volatile pricing environment and lower-than-expected volume growth in 9mFY25," said Nuvama Institutional Equi
New Delhi: Indian Renewable Energy Development Agency (IREDA) Ltd’s net profit for the quarter ended December rose by over a fourth year-on-year to Rs 425.4 crore led by an increase in interest income.Revenue from operations of the non-banking financial company for the reporting quarter rose 36% on year to Rs 1,698 crore.Net non-performing assets ratio improved marginally to 1.50% as against 1.52% in the corresponding period a year back.Net interest margin grew to 3.33% against 3.20% in the corresponding period a year back. Cost of borrowing fell to 7.68% compared with 7.82% in the same period last year.Loan sanctions during the quarter was Rs 13,227 crore, up 45% year-on-year.Disbursements were up by a fourth on year to Rs 7,449 crore, while the loan book of the green financing company
Demand for super luxury homes, each prices above Rs 40 crore, hit an all time high in 2024 with sales of 59 units for Rs 4,754 crore across top seven primary and secondary housing markets, according to Anarock. Real estate consultant Anarock data showed that ultra-luxury homes (priced above Rs 40 crore each) continued to sell briskly in 2024, despite rising prices. Anarock tracks seven major cities -- Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, Hyderabad, Pune, Chennai and Kolkata. The number of sales as well as the sales value of such assets hit new peaks, it added. Anarock Chairman Anuj Puri said, "Overall, 59 ultra-luxury homes were sold across the top 7 cities in 2024, for a collective sales value of approx. Rs 4,754 crore." Out of the total 59 units sold, there were 53 apart
