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ONGC production outlook improving on BP partnership, KG ramp-up: ICICI Securities
Probal Sen, Oil and Gas Analyst at ICICI Securities believes government policy support, better realisations and production growth could strengthen ONGC’s earnings outlook over the next two years, while recent fuel price hikes have also sharply reduced losses for oil marketing companies.
NZ dollar climbs as RBNZ indicates need to increase OCR sooner and by more than envisaged
The New Zealand dollar firmed up on Wednesday after the central bank left OCR rates unchanged and signaled possibility of further rate hikes in futures. The OCR will most likely need to increase sooner and by more than envisaged in the February Monetary Policy Statement, RBNZ said in the statement. The pace of OCR increases will depend on the relative influence of persistent wage- and price-setting behaviour versus weaker economic activity on medium-term inflation pressures, it further noted. The Committee remains focused on ensuring that increased costs do not lead to elevated inflation over the medium term, while avoiding unnecessary economic volatility. The central bank also noted that New Zealands trading partners are expected to see weaker growth and higher inflation as global economic backdrop remains uncertain. Reserve Bank of New Zealand kept its official cash rate unchanged at 2.25% as expected. New Zealand dollar climbed 0.70% to around $0.587 this morning.
ICICI Bank adds most credit cards in April amid rising competition
Axis Bank added 63,446 cards in April, less than half its February tally. Kotak Mahindra Bank remained steady at 33,038 additions. "We are focused on growing the business and growing it with the right set of customers in a profitable way," said ICICI Bank Group chief financial officer Anindya Banerjee. "We have been seeing reasonably steady new customer acquisition and would hope to see better numbers in terms of growth."
ICICI Bank adds most credit cards in April amid rising competition
Axis Bank added 63,446 cards in April, less than half its February tally. Kotak Mahindra Bank remained steady at 33,038 additions. "We are focused on growing the business and growing it with the right set of customers in a profitable way," said ICICI Bank Group chief financial officer Anindya Banerjee. "We have been seeing reasonably steady new customer acquisition and would hope to see better numbers in terms of growth."
ONGC Q4 Results: Cons PAT jumps 46% YoY to Rs 10,820 crore, revenue up 4%
Oil & Natural Gas Corporation (ONGC) reported a significant 46% surge in consolidated net profit to Rs 10,820 crore for the March-ended quarter. This growth was driven by a 4% increase in revenue from operations, reaching Rs 1,73,805 crore. The company also recommended a final dividend and approved a joint venture for a liquid port in Dahej, Gujarat.
Gandhar Oil Q4 profit zooms nearly 3x on 89% EBITDA growth; revenue up 14%
The company's Q4 EBITDA rose 89.3% YoY to ₹63.6 crore from ₹33.6 crore. The EBITDA margin expanded to 5.8% from 3.5% a year ago. Shares of Gandhar Oil Refinery India Ltd ended at ₹168, down by ₹2.85, or 1.67%, on the BSE today, May 26.
When markets panic, valuations don’t: A case for staying invested
Amid heightened global uncertainty and sharp market swings, long-term investors should focus on intrinsic value rather than short-term price movements, says Gautam Sinha Roy of ICICI Prudential Life Insurance. He argues that India’s resilient macro fundamentals, stabilising earnings cycle and moderating valuations continue to support the case for staying invested through volatility.
Bayer CropScience Q4 net profit up 13% amid steady revenue growth; declares ₹60 dividend
Shares of Bayer CropScience Ltd ended at ₹4,511.95, up by ₹138.50, or 3.17%, on the BSE.
Sri Lanka jolts markets with outsized 100-bp rate hike to counter Gulf crisis
Sri Lanka's central bank enacted a significant 100 basis point policy rate hike, its largest in four years, to combat rising inflation and a weakening rupee. This move comes as the nation grapples with soaring energy prices driven by the Middle East conflict, impacting economic growth and foreign reserves.
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Tata Motors PV, BHEL shares on 25 May
Domestic benchmark indices opened higher on May 25, buoyed by Brent crude prices dropping below $100 per barrel and optimism over a potential Iran peace deal. Nifty 50 rose 0.94% and BSE Sensex gained 1.02%. Analysts recommend buying Tata Motors and BHEL shares.
Mcap of 6 most valued firms surges by ₹74,111 cr, Reliance biggest winner
The combined market valuation of 6 of the top-10 most valued firms surged by Rs 74,111.57 crore last week, with Reliance Industries emerging as the biggest gainer. Last week, the BSE benchmark climbed 177.36 points, or 0.23 per cent. "Markets ended the week with marginal gains amid a highly volatile and range-bound trading environment. Benchmark indices witnessed sharp intraday swings throughout the week, driven by persistent rupee weakness, mixed global cues, sectoral rotation, and continued uncertainty around inflation and interest rates," Ajit Mishra SVP, Research, Religare Broking Ltd, said. From the top-10 pack, Reliance Industries, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, and Life Insurance Corporation of India (LIC) were the gainers, while HDFC Bank, Bharti Airtel, State Bank of India and Hindustan Unilever faced erosion from their valuation. Reliance Industries added Rs 24,696.89 crore, taking its market valuation to Rs 18,33,117.70 ...
MIRB Stock Price | Mirae Asset BSE Select IPO ETF - Investing.com
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