Monday, October 26
State-owned Bank of India (BoI) on Friday said it has posted a credit growth of 15.3 per cent at Rs 6.51 lakh crore for the December quarter. Total advances were Rs 5.65 lakh crore at the end of December 31, 2023, BoI said in a regulatory filing. The lender reported a 12.3 per cent rise in total deposits to Rs 7.94 lakh crore as against Rs 7.07 lakh crore at the end of the third quarter of the previous financial year. Total business of the bank rose 13.6 per cent to Rs 14.46 lakh crore as compared to Rs 12.72 lakh crore at the end of December 31, 2023.
Ace investor Dolly Khanna added smallcap stock Indian Metals & Ferro Alloys (IMFA) to her portfolio in the quarter ended December 31, 2024. She picked up a 1.16% stake representing 6,23,464 shares in the company. Shares of Indian Metals & Ferro Alloys have rallied nearly 80% in the past 12 months, outperforming the Nifty whose returns in this period is around 12%.Indian Metals & Ferro Alloys on Friday ended at Rs 901.30 on the BSE, down by Rs 9.20 or 1.01% over Thursday’s closing price.The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 821 and Rs 729, respectively. However, the stock has been quite volatile with a 1-year beta of 1.5 according to Trendlyne data.It has a market capitalisation of Rs 4,862.88 crore.It hit its 52-week h
China's central bank said it was likely it would cut interest rates from the current level of 1.5% "at an appropriate time" in 2025, the Financial Times reported on Friday citing comments the bank made to the newspaper. The People's Bank of China said that it would prioritise "the role of interest rate adjustments" and move away from "quantitative objectives" for loan growth, as it embarks on a programme of interest rate reform that government advisors have called "an arduous task." China's main rate is its seven-day reverse repo rate, which it last cut from 1.7% to 1.5% in late September. During a high-level economic agenda-setting meeting in December, China's top leaders vowed to cut interest rates "in a timely manner" and reduce the amount of capital banks must hold in reserve, as part
