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The brokerage said it cut its FY25 Profit after Tax (PAT) estimates by 22% due to this 6.74 billion reversal. It also slashed the FY26 and FY27 PAT estimates by 13%-17%, citing Net Interest Margin (NIM) compression and lower growth.
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Shares of Rites (Rail India Technical and Economic Service) jumped 15.7%, followed by Titagarh Rail Systems, which gained 12.8%. Shares of Rail Vikas Nigam(RVNL), BEML and Indian Railway Finance Corporation (IRFC) went up between 6% and 9% at close.
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A one-time charge of about 1,960 crore, tied to accounting discrepancies in its derivatives portfolio, is expected to dent the bottomline at the lender that has lately been consuming column inches over uncomfortable disclosures.
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News and Media
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