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Axis Bank on Thursday reported a tepid rise in its December quarter profits on the back of weak business growth, increased slippages and higher credit costs. The bank's profit rose 4% on year to 6,304 crore, largely in line with expectations.
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Out of the 11 Adani stocks listed then, seven are yet to recover to the pre-Hindenburg levels though the Nifty index has rallied 29% since then. Three stocks, such as Adani Total Gas, Adani Energy Solutions, and Adani Wilmar, are trading 50-83% lower; while NDTV, Adani Green and Adani Enterprise are down by 30-50%. Adani Power has doubled since the Hindenburg report while Adani Port gained 48%.
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Revenue from operations increased 7% to 2.43 lakh crore from 2.27 lakh crore in the year earlier. Consolidated ebitda increased by 7.8% to 48,003 crore.
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The Reserve Bank of India injected over 40,000 crore into the banking system through two operations, addressing a liquidity deficit that breached 2 lakh crore. The RBI accepted 30,760 crore from overnight VRR auction and 9,892 crore from government securities buyback. Another VRR auction of 50,000 crore is announced for Friday, to be reversed on Monday.
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Infosys reported better-than-expected revenue and net profit growth for Q4 2024, increased its FY25 revenue guidance, and plans to hire more freshers. The steady recovery in discretionary spending, rising deal flow, and AI platform development are expected to drive sustained business momentum.
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