Federal Bank share price dropped 6% after reporting a 5% YoY decline in net profit for Q3 FY25, despite strong operating profit and improved asset quality. The bank's accelerated provisions and higher provisions impacted profits. Analysts JPMorgan and UBS maintained "Buy" ratings, with revised target prices, noting slower growth but strong operational performance.
Paytms shares fell 1.69% to Rs 767 on January 28, following the announcement of Nakul Jains resignation as CEO and MD of Paytm Payments Services (PPSL). The resignation is effective by March 31, 2025, as Jain pursues an entrepreneurial journey. PPSL is actively seeking a replacement, and the new appointment will be announced in due course.
Balkrishna Industries shares rose 3.4% after Nomura upgraded the stock to buy, citing strong growth prospects and attractive valuations. Nomura set a target price of Rs 3,242, expecting a 22% upside, driven by global market strength and strategic diversification. The companys strong Q3 performance, robust market share, and investments in OTR tyre capacities support this outlook.
Indian markets are influenced by both global factors, like China's economic policies and currency devaluation, and domestic concerns like subdued earnings and fiscal spending uncertainties. The upcoming budget is critical. Historically, market dips before the budget signal negative sentiment, but this could change based on government spending plans and policies.
Digvijay Gaekwad from Florida-based Danny Gaekwad Developments & Investments has made a 17% higher competing offer for Religare shareholders. He is working with a team for compliance and protocol adherence. He believes his offer is fair and will benefit the shareholders, enhancing the company's value. He has already communicated his plan through regulatory steps.
The record date determines which shareholders are eligible for benefits like dividends, splits, or bonus shares. To qualify, investors must hold shares in their demat account by the record date, which requires buying at least one day before the ex-date due to T+1 settlement.
