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Muthoot Microfin reported a sharp Q3 turnaround, with net profit jumping over sixteenfold to Rs 62.4 crore as provisions and credit costs fell. Asset quality improved, margins inched up, while loan growth remained steady amid sector recovery in India markets.
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News and Media
Consumer goods company Marico is expanding its international presence. It has acquired a 75% stake in Vietnamese direct-to-consumer beauty firm Skinetiq. This move strengthens Marico's premium beauty portfolio and D2C strategy abroad. Vietnam is a key market for Marico due to its economic growth and evolving beauty sector. The company also recently acquired Indian plant-based protein brand Cosmix.
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News and Media
Indian stock markets climbed on Monday, mirroring a global market rebound. The Nifty and broader indices traded higher, showing improved global sentiment and steady domestic participation. Experts suggest buying on dips, with Nifty support seen at 25,700 and targets around 26,000 to 26,100. The market shows a positive bias, though short-term volatility is expected due to overbought conditions.
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News and Media
Pankaj Pandey, Head Research, finds PSU banks attractive, with Bank of Baroda as his top pick, targeting 340. He anticipates a stronger second half of the financial year and sees potential for M&A and policy support. Pandey also remains constructive on Kotak Mahindra Bank due to improving growth visibility and easing IDBI Bank acquisition concerns.
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News and Media
IDBI Bank shares fell amid updates on its strategic disinvestment, with Fairfax Financial and Emirates NBD emerging as bidders. The government and LIC plan to sell a combined 60.7% stake in the lender as part of the privatisation programme.
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News and Media
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