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Credit delivery by PSU banks likely to rise
Kolkata: A stage is now set for a jump in credit delivery by state-owned banks, which collectively control two-thirds of India’s financing market.

Banks have recovered about Rs 3 lakh crore of their sticky assets from defaulting promoters in recent years and the government has ended the `phone banking’ culture to make the system clean, finance m

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With tax cuts, Modi giving back to you what he took unjustly: Tharoor
NEW DELHI: Shashi Tharoor, Congress MP and former Union Minister, on Friday called Modi Government’s Interim Budget a pack of lies.

There are several figures that Finance Minister Piyush Goyal cites during his Budget speech, which were blatant inaccuracies or exaggerations. “I am not so sure you should be granting them a certificate of good h

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DHFL shares crack 24%, touch 52-week low
NEW DELHI: Shares of Dewan Housing Finance Corporation (DHFL) cracked 24 per cent to touch its 52-week low of Rs 103.35 on BSE in Friday's session.

With this, shares of the company extended their losing run into the fifth straight session.

The company has appointed an independent auditor to investigate allegations of financial mismanagement

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AirtelArpu likely to improve from Q4 onwards, says Vittal
Kolkata: Bharti Airtel expects its average revenue per user (ARPU) -- a key performance metric – to improve from the fiscal fourth quarter onwards, as the full impact of its minimum recharge plans kick in and more 2G and 3G users upgrade to 4G.

Chief executive Gopal Vittal said Friday the biggest ARPU growth drivers for Airtel would be higher

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F O: Falling Vix offers comfort to bulls; Nifty needs to hold 10,820
By Chandan TapariaThe Nifty50 had a volatile Budget day on Friday but finally managed to hold its gains for the second consecutive session. It witnessed strong momentum in midway through the session but remained volatile as it failed to cross the crucial hurdle at 10,985 level.

The index formed a High Wave candle with a wide range of 170

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Govt to meet Rs 80,000 crore FY19 disinvestment target: Piyush Goyal
NEW DELHI: Finance Minister Piyush Goyal on Friday said the government was confident of achieving FY19 disinvestment target of Rs 80,000 crore.

In his Budget speech, Goyal said that the government has pursued the public enterprises asset management agenda to make these enterprises accountable to the people.

As many as 57 CPSEs are now listed with

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Xelpmoc Design shares to list on bourses on Monday
Shares of Xelpmoc Design and Tech, a professional and technical consulting services company, will list on the bourses on February 4, Monday. This will be the first main-board IPO for the year.

The public offer, which was opened for subscription from January 23 to January 25, was oversubscribed 3.25 times.

The company had fixed a price band of Rs

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Airtel board to meet on Feb 28 to consider panel recos on fund raising
NEW DELHI: Bharti Airtel’s board will meet on February 28 to consider the recommendations of a special panel which had been set up to explore options for raising funds, which the mobile phone operator will use to pare debt and free up cash for 4G expansion to take on Reliance Jio.

“…we wish to update you that the Board in its meeting held today, no

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PCA stocks rally as FM sees more banks out of framework
NEW DELHI: Most banks under the PCA framework rallied after the Finance Minister in his budget speech said that he expected more banks to come out of PCA soon.

Shares of Corporation Bank (up 0.76 per cent) Allahabad Bank (up 1.22 per cent), UCO Bank (up 1.84 per cent) Central Bank of India (up 1.61 per cent), Indian Overseas Bank (up 0.73 per

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New launches boost Titan's Q3 profit; key takeaways
Tata Group's Titan Company on Friday posted 35 per cent year-on-year rise in net profit at Rs 416 crore for the quarter ended December 2018.

It had posted a net profit of Rs 308 crore in the year-ago quarter.

Total income too jumped 35 per cent to Rs 5,733 crore in Q3 FY19 over Rs 4,243.21 crore in Q3 FY18.

Here are the top highlights from

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Titan Q3 profit jumps 35% YoY to Rs 416 crore, beats Street estimates
NEW DELHI: Titan Company on Friday said consolidated profit for December quarter jumped 35 per cent to Rs 416 crore, beating Rs 391 crore net estimated by analysts in an ET Now poll.

The company had reported Rs 308.21 crore in the year ago period.

Sales for the quarter rose to Rs 5,632 crore compared with Rs 4,174 crore in the same quarter last

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Budget 2019: FM woos farmers, herewhat experts say
Interim Finance Minister Piyush Goyal on Friday unveiled a modest farm support scheme, under which the government plans to offer income support for marginal farmers at Rs 6,000 per year under a scheme called Kisan Samman Nish.

The scheme will benefit some 12 crore farmers. The FM set aside Rs 75,000 crore under the scheme.

Commenting on the same,

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RCom to go for insolvency as it fails to repay debt
Reliance Communications has decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders, the Anil Ambani-led telecom firm said Friday.

RCom even failed to sell spectrum to Mukesh Ambani's Reliance Jio, a deal that was expected to bring some relief to the cash-strapped company.

"RCom board of directors

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EMs, India drive DRL Q3 show: Big takeaways
Pharma major Dr Reddy’s Laboratories on Friday posted a 45 per cent year-on-year increase in net profit at Rs 485 crore for the December quarter of 2018-19.

Net profit in the same quarter a year ago came in at Rs 334.40 crore. Analysts in an ET Now poll had projected a profit of Rs 381 crore.

Let's check out five takeaways from Dr Reddy’s third q

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DHFL falls for fifth straight day on mismanagement claims
Shares of Indian home loan provider Dewan Housing Finance Corp Ltd fell for the fifth straight session on Friday, a day after it appointed an "independent" auditor to investigate allegations of financial mismanagement against the company.

Investigative media outlet Cobrapost alleged in a report published Tuesday that a large amount secured from

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Emerging markets, low US tax rate help Dr Reddypost higher sales, profit
Better contributions from the emerging markets and India, favourable foreign exchange and reduced federal income tax rates in the US have helped Hyderabad headquartered Dr Reddy’s Laboratories improve December quarter sales marginally by 1% and the net profit by 45%.

The pharma company on Friday reported Rs 3,850 crore of sales and Rs 485.2 crore

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Govt pegs market borrowing at Rs 4.48 lakh crore for FY20
The government will borrow Rs 4.48 lakh crore from the market in 2019-20, marginally higher than the Rs 4.47 lakh crore estimated for the current financial year ending March 2019. According to the Revised Estimate, the net borrowing for the current fiscal was raised to Rs 4.47 lakh crore as against the Budget Estimate of Rs 4.07 lakh crore.

Budget

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FM pegs FY19 fiscal deficit at 3.4%, rolls out farm income scheme in interim Budget
NEW DELHI: Stock indices climbed on Friday as investors judged populists measures announced by Finance Minister Piyush Goyal were not overly populists. Goyal has proposed an assured income support scheme for farmers that will cost Rs 75,000 crore per year. The first installment of Rs 2,000 crore will soon be given to the farmers , Goyal said. He
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After Market: SBI slips despite good Q3; auto, realty shine on Budget boost
NEW DELHI: The stock market showed confidence in the government’s rural focus and PSU capex plan proposed in Interim Budget 2019 as the equity benchmarks closed Friday’s session with healthy gains.

Analysts assessed the fiscal deficit target as within comfortable limits and interpreted that the sops for farmers and lower middle class would boost

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By Abhijit Roy Chowdhury, Bibhudatta Pradhan, Shruti Srivastava and Siddhartha Singh

Indian Prime Minister Narendra Modi made a populist push in his final budget before elections, cutting taxes for middle-class voters and giving cash handouts to farmers.

The government will allocate 750 billion-rupee ($10.6 billion) a year for the cash plan for

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Share market update: Realty shares advance; Phoenix Mills jumps 4%
NEW DELHI: Realty shares were trading higher in Friday's morning session ahead of Budget.

Shares of Phoenix Mills (up 4.03 per cent), DLF (up 2.18 per cent), Sunteck Realty (up 2.06 per cent) and Sobha (up 2.01 per cent) were the top gainers in the index.

Prestige Estates Projects (up 1.95 per cent), Indiabulls Real Estate (up 1.15 per cent) and

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Cement demand to benefit from higher allocation for rural roads
The government's decision to increase allocation to Pradhan Mantri Gram Sadak Yojana (PMGSY) by 22% augurs well for cement manufacturers amid weak demand for more than three years. The government raised the allocation to PMGSY to Rs 19,000 crore from Rs 15,500 crore according to the revised estimates for the current fiscal.

Among cement players, Ul

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Trending on et - budget 2019 full coverage »

ETMarkets.com|

Updated: Feb 01, 2019, 03.26 PM IST

The public lender reported 7.40 per cent YoY jump in operating profit at Rs 12,625 crore in Q3 FY19, led by healthy growth in net interest income and lower growth in overhead expenses.
NEW DELHI: India's largest lender SBI on Friday reported
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Porinju's bet: Interim Budget will take care of hopelessness in market
NEW DELHI: Porinju Veliyath, founder and the CEO of Equity Intelligence, expects the Interim Budget to provide some trigger and take care of the ‘hopelessness’ or extreme fear prevailing in the domestic stock market.

Veliyath said investors used to celebrate Budget. But after a huge drawdown in the midcaps and smallcaps, he thinks there is a big fe

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Budget gives market reasons to cheer, Sensex up 213 points
NEW DELHI: A farm friendly Budget with a push for consumption cheered equity markets on Friday as key benchmark indices rose half a per cent.

However, this rally did not turn out to be a smooth one. At one point, both Sensex and Nifty ruled firm by more than 1 per cent, with the BSE index swelling more than 500 points during the day.

As the fine

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Dr Reddy's Q3 profit jumps 45% YoY to Rs 485 crore, beats Street estimates
NEW DELHI: Top drug maker Dr Reddy's Laboratories on Friday reported 45 per cent year-on-year rise in profit at Rs 485.20 crore for the December quarter.

Analysts in an ET Now poll had projected a profit of Rs 381 crore.

Revenue for the quarter rose 1 per cent YoY to Rs 3,850 crore, the company said in a regulatory filing.

“We continued to improve

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Bharti Airtel shares rally 3% post Q3 results; should you buy
Bharti Airtel share rallied over 3 per cent in morning trade on Friday after the telecom major reported a surprise net profit of Rs 86 crore for the quarter ended December 2018.

Analysts in an ET Now poll had projected a loss of Rs 905 crore. The company had reported a net profit of Rs 306 crore during the corresponding period last year.

The

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Budget 2019 to give a boost to consumption
ET Intelligence Group: With focus on farmers and middle class, the Budget 2019 provides a boost to consumption in the economy, which augurs well for fast moving consumer goods (FMCG) stocks. Most of the FMCG stocks have gained following income support to farmers and income tax rebate to middle-class tax payers with income up to Rs 5 lakhs.

A

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Share market update: Telecom shares mixed; Sterlite Tech slumps 9%
NEW DELHI: Telecom shares were trading on a mixed note in Friday's afternoon session.

Shares of Vodafone Idea (up 2.66 per cent), Bharti Airtel (up 1.48 per cent), Bharti Infratel (up 1.11 per cent) and GTPL Hathway (up 0.62 per cent) were the top performers in the index.

Sterlite Technologies (down 9.51 per cent), GTL Infrastructure (down 4.85

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Share market update: IT shares gain ahead of Budget; HCL Tech up 2%
NEW DELHI: IT shares were trading in the green in Friday's morning session.

Shares of HCL Technologies (up 2.32 per cent), NIIT Technologies (up 1.33 per cent), Infibeam Avenues (up 1.17 per cent) and Tata Elxsi (up 1.16 per cent) were the top performers in the index.

Tech Mahindra (up 0.95 per cent), MindTree (up 0.67 per cent) and Infosys (up

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