IndusInd Bank Q4 Results: PAT jumps 50% YoY to Rs 2,040 cr; dividend declared at Rs 14/share

 

IndusInd Bank's standalone net profit rose 50% to Rs 2,040 crore for the fourth quarter ended March. It was Rs 1,361 crore in the same period last year. The profit beat the estimate of ET Now Poll, which expected the figure to be around Rs 2,000 crore

The board has also recommended a payment of dividend at Rs 14 per equity share for the financial year 2022-23.

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The net interest income (NII) of the lender came in at Rs 4,669 crore for the quarter under review, which is up 17%, compared with Rs 3,985 crore in the corresponding quarter of last year.

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Following the announcement of the results, the stock is trading flat in afternoon trade on Monday at Rs 1,117 on NSE.

The Mumbai-based lender's provisions (other than tax and contingencies) fell as much as 29% during the March quarter to Rs 1,030 crore. The same stood at Rs 1,461 crore in the year-ago period.

The bank reported a strong quarter on the asset quality front with both gross non-performing assets (NPAs) and net NPAs on the d ..

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Gold buying Akshaya Tritiya 2023: Is it mandatory to buy hallmarked gold coins?

Hallmarking on gold has been mandatory on select gold items in India from April 1, 2023. However, the same is not applicable to gold bullion/coins of 999/995 fineness. The mandatory order is applicable for gold jewellery and artefacts only. Note that even white gold alloy is covered under mandatory hallmarking.

According to the Bureau Standard of India (BSI) website, “the order is applicable for gold jewellery and artefacts only. Gold bullion/coins of 999/995 fineness are permitted to be  ..

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https://economictimes.indiatimes.com/wealth/spend/gold-buying-akshaya-tritiya-2023-is-it-mandatory-to-buy-hallmarked-gold-coins/articleshow/99579980.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Also read: Gold hallmarking is not mandatory for these commonly bought articles

According to Bureau of Indian Standard (BIS) Director General Pramod Kumar Tiwari, the government intends to make gold bullion hallmarking mandatory after gold jewellery and is prepared with draft rules.
Hallmarked gold bullion will help in ensuring the desired purity of gold jewellery being manufactured in the country, he added.

What is hallmark ..

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https://economictimes.indiatimes.com/wealth/spend/gold-buying-akshaya-tritiya-2023-is-it-mandatory-to-buy-hallmarked-gold-coins/articleshow/99579980.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Stock Market holiday on 4 April: BSE, NSE shut for Mahavir Jayanti, check dates markets will be closed in 2023

 

The MCX will be closed for the first session of trade, but will open for traders at 5 pm.

BSE and NSE are closed today on 4 April on account of Mahavir Jayanti celebrations. The country’s leading commodity exchange, the MCX will also remain shuttered for the first session of trade and will open for the evening session at 5 pm. The equity segment, the SLB segment, the equity derivative segment, interest rate derivatives segment and the currency derivatives segment will also be closed for trading. Additionally, the markets will also be closed on 7 April and the MCX will be closed for both the sessions. Including the weekends, the share markets will be closed for 13 days in April.

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During the upcoming month of April in 2023, the BSE website has announced that the stock market will observe a three-day closure apart from the weekends. Specifically, on 4 April, trading will be suspended in observance of Mahavir Jayanti, on 7 April for Good Friday, and on 14 April for Dr. Baba Saheb Ambedkar Jayanti. Here’s a look at the other holidays the stock markets will be closed on in 2023.

On Monday, markets extended their gaining streak, as Nifty rose 0.22% to 17,398, while Sensex added 114 points to settle at 59,106. “Investors were of the view that the easing price pressure would provide the central bank with leeway to pause the rate hike. However, the surprise production cut by OPEC+ has fuelled concerns about inflationary pressure, which may prompt central banks to remain hawkish. The downside pressure in the market was mitigated as auto stocks rallied in response to the latest sales data, indicating a surge in demand. Additionally, India’s manufacturing PMI exceeded expectations, demonstrating its swiftest growth rate in three months due to increased output and new orders,” said Vinod Nair, Head of Research, Geojit Financial Services.