Finance news

Bajaj Finance Ltd (BFL) has reported another strong quarter with its highest ever quarterly profit after tax, which grew 57% y-o-y to Rs 1,176 crore during Q4FY19 despite challenging conditions faced by NBFCs.

The bottom line was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The state-run lender witnessed a 57.72% y-o-y rise in net interest income (NII) to Rs 4,044 crore.

High finance: Mr Nice 'cannabis lifestyle' shop opens in London  The GuardianHoward Marks made his name in the illicit drugs trade but the late drugs baron is making a posthumous comeback to cash in on a booming legal trade in ...

Non-banking finance company Manappuram Finance on Thursday announced that it had got approval to take over the promoter-led entity Manappuram Asset Finance Ltd (MAFIN).

Maharashtra State Cooperative Bank (MSC) has entered retail operations and plans to scale up this business through a merger with a couple of urban cooperative banks based in Mumbai and Pune.

Bajaj Finance puts up a strong show, but consumption slowdown emerges  LivemintInvestors have nothing but adulation for Bajaj Finance Ltd, which is visible in the outperformance of the stock compared to the broader market since last ...

PNB terminates agreements to sell stake in housing finance arm  Economic TimesMumbai: State-run Punjab National Bank Thursday said it has terminated the agreements with General Atlantic Group and Varde Partners to sell its stake in PNB ...

GDP numbers suggest high growth in medium term, says 15th Finance Commission  The HinduThe 15th Finance Commission on Thursday said that India's GDP numbers suggest a continued high growth trend in the medium term even though they have ...

The lender had reported a net loss of Rs 3,969 crore in the same quarter of last year. Its net losses in the third and second quarters of FY19 stood at Rs 4,738 crore and Rs 1,156 crore, respectively.

State-run Punjab National bank will remain the sole promoter of PNB Housing Finance Ltd after its share purchase agreement (SPA) with General Atlantic Group and Varde Holdings fell through.

Bajaj Finances mastery of volume game visible in Q4 performance  Business StandardIn an industry where volumes matter the most, Bajaj Finance seems to have perfected the art. Its March quarter (Q4) performance, which exceeded expectations, ...

OpenFin raises $17 million for its OS for finance  TechCrunchOpenFin, the company looking to provide the operating system for the financial services industry, has raised $17 million in funding through a Series C round led ...

People-Powered Finance to the Rescue?  ResilienceAt the heart of this new Nesta/Co-ops UK report is a profound question — can people-power finance a new wave of community-owned apps and online ...

Sensex surges 279 pts; IT, finance stocks shine  Deccan HeraldThe BSE Sensex rebounded 279 points while the NSE Nifty reclaimed the 11250 level Thursday, propelled by gains in IT and financial stocks amid mixed global ...

Sensex Surges 279 Points; IT, Finance Stocks Shine  BW BusinessworldBoth the key indices rallied in the last hour of trade after trading on a tepid note through most part of the day., , sensex, stockmarket.

The non-bank lenders, which have been hit by high borrowing costs and largely shut out from the bond market after the crisis at shadow lender IL&FS Group broke out last year, are facing the risk that more borrowers will be unable to repay their debt as the cash crunch drags on.

Manappuram Finance share price: Buy Manappuram Finance, target Rs 148: Yes Securities  Economic TimesAttractive return ratios would be likely maintained through FY19-21.

Buy Manappuram Finance, target Rs 148: Yes Securities  Economic TimesYes Securities has given a buy recommendation on Manappuram Finance with a target price of Rs 148. Shares of Manappuram Finance traded at Rs 121.65 on ...

Finance Commission holds talks with Finance Ministry on economy  Business StandardMembers of the Finance Commission have held consultations with senior officials of the Ministry of Finance on the overall economic situation in the country and ...

Finance Comm discusses fiscal management with FinMin  Business StandardFinance Commission held discussions with the finance ministry on fiscal and economic management as well as rationalisation of expenditure related to centrally ...

It’s no secret that India’s banking regulator hates having its officials sit on the boards of state-run lenders.

Manappuram Finance Q4 net profit up 43% at Rs 255 cr  BusinessLineThe consolidated net profit of Manappuram Finance Ltd in Q4 of FY19 has recorded 43 per cent growth at Rs 255.59 crore against Rs 179.05 crore in the ...

Bajaj Finance & Bajaj Finserv Q4 results today: Key things to watch out for  CNBCTV18Bajaj Finance and Bajaj Finserv will be reporting their fourth-quarter earnings on Thursday. Here are the key expectations:Get latest Earnings online at ...

Bajaj Finance, Union Bank, Adani Ports, Tata Global top stocks to watch  Business StandardAt 08:28 am, Nifty futures on the Singapore Exchange (SGX) were trading 28 points or 0.25 per cent higher at 11,190, indicating a positive start for the Nifty50 ...