#1 Annual premium equivalent (APE) drops 3.1% to Rs 3,502 crore Vs Rs 3,615 crore, YoY
#2 Value of new business grows 2.4% to Rs 795 crore Vs Rs 776 crore, YoY
#3 VNB margin expands to 22.7% Vs 21.5%, YoY
#4 Profit surges 122.3% to Rs 386.3 crore Vs Rs 173.8 crore, YoY
#5 Net premium income grows 10.7% to Rs 16,369.2 crore Vs Rs 14,788.5 crore, YoY
#6 Net commission rises 0.6% to Rs 1,575.2 crore Vs Rs 1,565.9 crore
#7 Company declares final dividend of Rs 0.85 per share
FY25
#1 APE grows 15.04% to Rs 10,407 crore Vs Rs 9,046 crore, YoY
#2 Value of new business rises 6.4% to Rs 2,370 crore Vs Rs 2,227 crore, YoY
#3 VNB Margin drops to 22.8% Vs 24.6%, YoY
#4 Profit zooms 39.5% to Rs 1,189 crore Vs Rs 852.4 crore, YoY
#1 Profit zooms 48.7% to Rs 501.6 crore Vs Rs 337.4 crore, YoY
#2 Net interest income surges 47.3% to Rs 801.3 crore Vs Rs 544 crore, YoY
Consolidated FY25
#1 Profit jumps 35.6% to Rs 1,698.3 crore Vs Rs 1,252.2 crore, YoY
#2 Net interest income spikes 44.6% to Rs 2,602.3 crore Vs Rs 1,799.8 crore, YoY
The bank has received a report from an external agency identifying discrepancies related to derivative deals. The report has quantified the negative impact of these derivative deals, as of June 2024, at Rs 1,979 crore.
The agency has assessed an adverse impact (on a post-tax basis) of 2.27% on the bank’s net worth as of December 2024 due to these discrepancies.
The bank will appropriately reflect the resultant impact in the financial statements for FY25 and will continue to take suitable steps to strengthen internal controls related to derivative accounting operations.
The Securities and Exchange Board of India (SEBI) has barred promoter brothers Anmol Singh Jaggi and Puneet Singh Jaggi from holding any directorship or key position in Gensol Engineering (GEL) or any other entity.
Both GEL and the Jaggi brothers have been prohibited from accessing the securities market.
In an interim order, SEBI Whole Time Member Ashwani Bhatia also directed GEL to put its planned stock split on hold.
SEBI will appoint a forensic auditor to examine the books of accounts of GEL and its related parties. The forensic auditor must submit the report within six months of appointment.
Amid negative global cues, the Indian indices opened flat on April 16.
The Sensex was down 119.60 points or 0.16 percent at 76,615.29, and the Nifty was down 36.35 points or 0.16 percent at 23,292.20. About 809 shares advanced, 431 shares declined, and 97 shares unchanged.
Shriram Finance, IndusInd Bank, Apollo Hospitals, Kotak Mahindra Bank, Axis Bank were among major gainers on the Nifty, while losers were Infosys, Maruti Suzuki, Tech Mahindra, Tata Consumer, Cipla.
The market responded positively to the recent adjustment in tariffs, with Nifty50 closing higher at 23,329. If this upward momentum persists, resistance may be experienced in the 23,440-23,500 range, while 23,050 is anticipated to serve as a strong support. BankNifty also closed above its key resistance zone of 51,350-51,890, which is now expected to act as a robust support level. However, the formation of a hanging man candlestick pattern signals a possible pause in the ongoing trend. On the upside, 52,800 will likely act as the immediate resistance for BankNifty.
In the auto sector, tyre stocks are performing well, with some already broken out, while stocks like Escorts and Exide Industries are on the verge of a breakout. In the Realty segment, Lodha is poised to break out from a symmetrical triangle pattern, and Prestige Estate is showing strong momentum as well. From the broader market, several stocks, such as CDSL, Engineers India, IEX, LIC Housing, PFC, and Torrent Power, have either already broken out or are on the verge of doing so.
Stocks to Watch, 16 Apr: Stocks like ICICI Lombard General Insurance Company, Swiggy, Tata Consultancy Services, Gensol Engineering, Max India, NHPC, Dabur India, Lemon Tree Hotels, and AGS Transact Technologies will be in focus on April 16….Read More
Markets could see a gap down opening amid fall in other Asian gauges following sluggish close of US indices in overnight trades. The street continues to remain focused on escalating tensions between the U.S. and China, as the US Commerce Department opened an investigation into semiconductor and pharmaceutical imports—raising the prospect of further tariffs.
However, positive factors such as inflation falling to 5-year low, hopes of above normal monsoon, and FIIs turning net buyers of local equities on Tuesday could provide some solace to investors already hit by the tariff uncertainty. For long-term traders, any move above Nifty’s 200-day average of 24054 will be a more reliable positive reference point.
Indian rupee opened 16 paise higher at 85.61 per dollar on Wednesday against Tuesday’s close of 85.77.
Benchmark indices are trading firm in the pre-opening session.
The Sensex was up 88.27 points or 0.12 percent at 76,823.16, and the Nifty was up 91.80 points or 0.39 percent at 23,420.35.