BUSINESS
SBI's Q1FY22 net profit up 55% YoY
Accordingly, the bank, reported its highest quarterly net profit of Rs 6,504 crore in Q1FY22. Besides, the lender's net interest income for the quarter under review increased by 3.74 per cent YoY. "Net NPA ratio at 1.77 per cent is down 9 bps YoY. Gross NPA ratio at 5.32 per cent is down 12 bps YoY." "Provision Coverage Ratio (PCR) is at 85.93 per cent, down 39 bps YoY."
RBI cautions against offers of buying or selling old notes
In a statement, the central bank said that certain elements are fraudulently using the name and logo of the Reserve Bank of India, and seeking charges, commission and tax from public, in transactions related to buying and selling of old banknotes and coins through various online and offline platforms. The RBI has advised members of public to remain cautious.
Canada's largest auto dealer Ajay Dilawri honoured
The Dilawri Group, owned by Ajay Dilawri and his two brothers, owns 76 dealerships across five provinces in Canada. After immigrating from India, the family started the auto business in 1985. Today, the Group is Canada's top auto dealer, selling 35 brands and employing about 4,000 staff.
Global cues push equities higher; banking stocks shine
Initially, India's benchmark indices started on a positive note with the global sentiments intact towards positivity, completely ignoring the spread of Delta variant around the world. However, expensive valuations capped gains. In the process, the S&P BSE Sensex hit intra-day record level of 54,440.8 points and the Nifty50 touched a new high of 16,290.2 points.
With global crude fluctuating, OMCs to wait & watch on fuel
Global crude prices have swung in all directions in July starting with a low of $70 a barrel to quickly rise to over $77 a barrel, only to fall soon below $70 a barrel and crossing $75 a barrel later in the month. The oil prices have softened again to $72.5 a barrel. With no price increase by OMCs, in the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre.
Sensex surges 400 points, hits 54,000 for first time
Both Sensex and the Nifty50 traded at record levels. Healthy buying was witnessed in metal, finance and banking stocks. Around 9.45 a.m., Sensex was trading at 54,233.97, higher by 410.61 or 0.76 per cent from its previous close of 53,823.36. It opened at 54,071.22 and has touched an intraday high of 54,274.40 and a low of 54,034.31 points.
Pulse production on the rise in India: Govt
The NFSM-Pulses programme is being implemented in 644 districts of 28 states and Union Territories (UTs) of Jammu & Kashmir and Ladakh to increase the production of pulses, Agriculture and Farmers Welfare Minister Narendra Singh Tomar told the Lok Sabha in a written reply.
Agriculture a bright spot in economy despite Covid-19: Govt data
The percentage share of GVA of agriculture and allied sectors to total economy for the year 2019-20 was 18.4 per cent, while the same for the year 2018-19 was 17.6 per cent, as per the provisional estimates released by the NSO, Union Agriculture Minister Narendra Singh Tomar told the Lok Sabha in a written reply on Tuesday.
CBDT extends due dates for electronic filing of various forms
The Income Tax Department had mandated electronic filing of certain forms under the provisions of the Income Tax Act, 1961, read with Income Tax Rules, 1962 by taxpayers. But with the electronic system still giving trouble and making it difficult to file returns, the extension has been granted till further improvements are made in the system.
Bharti Airtel reports Q1 net profit of Rs 284 crore
The company continues to garner a strong share of the 4G net adds in the market. 4G data customers increased by 33.4 per cent YoY to 184.4 million compared to the previous year. Over the last 4 quarters, the company has added 46 million 4G customers to its network. ARPU continues to be the best in industry, with average data usage per data customer at 18.5 GBs/month, while voice usage was at 1,044 mins per customer per month.
Don't Miss
Advertisement