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Here are the top stories to start your day.
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⭐ Bajaj Finance Q4: robust growth in net profit
The private non-banking lender posted a consolidated net profit of ₹3,158 crore, a rise of 30% YoY for the quarter ended 31 March 2023. Meanwhile, its net interest income surged 28% to ₹7,771 crore. In Q4, its new loan book was up 20%. In addition, the company also declared a dividend of ₹30 per share.
⭐ HDFC Life reports subdued Q4 numbers
Private life insurer reported a consolidated net profit of ₹361 crore during the March quarter. The profit declined by over 28% compared to last year. However, its net premium income grew by 24% YoY to ₹19,468 crore. Along with the result, the company announced a dividend of ₹1.9 per share.
⭐ Voltas ends JV
Air conditioner maker Voltas has terminated its joint venture with China-based Highly International (Hong Kong) to manufacture compressors in India. This comes after it could not obtain the necessary approvals from the government. In Q4, the company reported an 11% YoY rise in its net profit to ₹ 3,003 crore, while its net profit fell by 21% YoY to ₹143 crore.
Global markets (at 7:25 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.19% |
| Nikkei 225 (Japan) | ▼ 0.23% |
| Hang Seng (Hong Kong) | ▲ 0.07% |
| SSE Composite (China) | ▲ 0.42% |
| Dow Jones (US) (April 26) | ▼ 0.68% |
| NYSE (US) (April 26) | ▼ 0.88% |
| Nasdaq (US) (April 26) | ▲ 0.47% |
| S&P 500 (US) (April 26) | ▼ 0.38% |
Fact of the day
The government has released ₹2,874 crore to the beneficiaries of the production-linked incentive (PLI) scheme till 31 March 2023.
Source: Economic Times
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