Good morning!
Here are the top stories to start your day.
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⭐IRCTC: Chugging along nicely
IRCTC’s revenue from operations jumped by 99% on a yearly basis to ₹806 crore for the September quarter. Meanwhile its net profit rose by 42% YoY to ₹226 crore. The catering business of the company was one of the key contributors to the overall revenue. It reported a multi-fold increase in revenue to ₹334 crore from ₹71 crore in the same quarter of last year due to resumption of trains and catering services.
⭐Indiabulls Housing Finance: Asset quality slips
The home finance company has reported a 2.94% rise in gross NPAs or bad loans from last year’s 2.69%. Meanwhile, net NPA also inched up to 1.7% from last year’s 1.5%. The company’s revenue from operations also took a hit, dropping to ₹2,229 crore from ₹2,232 crore a year ago. Meanwhile, its net profit grew by 1% YoY to ₹289 crore.
⭐ Centre ready to include fuel under GST
Union Petroleum Minister Hardeep Singh Puri has said the central government is ready to bring petrol and diesel under the GST regime if state governments agree to the same. The minister pointed out that fuel prices in India had increased only 2% in the last one year. He said the centre had taken a number of steps to combat rising fuel prices, including a cut in excise duty.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.35% |
| Nikkei 225 (Japan) | ▲ 0.11% |
| Hang Seng (Hong Kong) | ▲ 2.41% |
| SSE Composite (China) | ▲ 0.52% |
| Dow Jones (US) (November 14) | ▼ 0.63% |
| NYSE (US) (November 14) | ▼ 0.68% |
| Nasdaq (US) (November 14) | ▼ 1.12% |
| S&P 500 (US) (November 14) | ▼ 0.89% |
Fact of the day
Amazon founder and billionaire Jeff Bezos has committed $10 billion to fight climate change. He plans to give away the majority of his wealth amounting to $124 billion.
Source: Times of India