Bank loans increased 6.7% in two weeks to April 24, Says RBI

Bank loans increased 6.7% in two weeks to April 24, Says RBI Bank loans increased: In the two weeks to April 24, Indian banks’ loans increased 6.7 percent from a year ago, while deposits grew by 9.8 percent; the weekly statistical surcharge showed on May 8th by the Reserve Bank... The post Bank loans increased 6.7% in two weeks to April 24, Says RBI appeared first on stockinvestor.in.

Bank loans increased 6.7% in two weeks to April 24, Says RBI

Bank loans increased 6.7% in two weeks to April 24, Says RBI

Bank loans increased:

In the two weeks to April 24, Indian banks’ loans increased 6.7 percent from a year ago, while deposits grew by 9.8 percent; the weekly statistical surcharge showed on May 8th by the Reserve Bank of India. 

Outstanding loans decreased to 102.69 trillion rupees in 2 weeks to April 24, from 693.40 billion rupees (9.17 billion dollars). 

In addition, Non-food loans declined by 679.10 billion rupees to 102.17 trillion rupees, while food debt declining by 14.30 billion rupees to 526.43 billion rupees. 

In the two weeks to April 24, deposits of banks declined 39.32 billion rupees to 137.11 trillion rupees.

Stock Market on May 8th:

On the fifth day of the week, the  traded with the bullish trend. The Sensex traded with a gain of 199.32 points reached 31,642.70 level with 0.63% up. Whereas, Nifty traded with a gain of 52.45 points reached 9,251.50 level with 0.57% up.

In the border market, the S&P BSE Midcap traded with a gain of 4.13 points reached 11,423.81 with 0.036% up. Whereas, S&P BSE SmallCap traded with a loss of 48.05 points reached 10,638.70 with 0.45% down. At the same time, Nifty bank traded with a loss of 138.90 points reached 19,352.90 with 0.71% down.

Top Gainers: Hindustan Unilever, Sun Pharmaceutical Industries, Dr.Reddy’s Laboratories, Tech Mahindra, and Nestle India Limited.

Top Losers: NTPC, Mahindra & Mahindra, Axis Bank, Indusind Bank, and JSW Steel Limited.

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Adani Gas Q4 results: consolidated net profit of Rs 121 crores

Adani Gas Q4 results:  a consolidated net profit of Rs 121 crores Adani Gas Q4 results: It is one of the subsidiary companies to Adani Group in India located in Ahmedabad, Gujarat.   It is a conglomerate company that provides services in energy, resources, logistics, agribusiness, real estate, financial services, etc.... The post Adani Gas Q4 results: consolidated net profit of Rs 121 crores appeared first on stockinvestor.in.

Adani Gas Q4 results: consolidated net profit of Rs 121 crores

Adani Gas Q4 results:  a consolidated net profit of Rs 121 crores

Adani Gas Q4 results: It is one of the subsidiary companies to Adani Group in India located in Ahmedabad, Gujarat.   It is a conglomerate company that provides services in energy, resources, logistics, agribusiness, real estate, financial services, etc.

Meanwhile, the shares of the company on Friday reported a bullish trend in the stock market after its Q4 results for FY20. The company reported a 60.27% increase in its consolidated net profit of Rs 121.46 crores in the quarter ended in March. The company also posted its consolidated net profit of Rs 75.75 crores in the same quarter last fiscal year. 

Besides, the total revenue of the company from operations remains almost stable at Rs 502.05 crores. The companies also posted its revenue of Rs 505.81 crores in the same quarter last financial year. Whereas, the “expenditure” of the company decreased by 23 to Rs 34.03 crores in this quarter ended on March 31st, 2020.

On Friday, Mr. Gautam Adani, Chairman, said, “the company is going to launch its city gas distribution network across India”.

Suresh Manglani, CEO, Adani Gas said, “The company continuously supplying PNG and CNG to its consumers and government authorities during these challenging times of Covid-19. The company will look forward to achieving new things in  city gas distribution (CGD) and retail fuel.”

On Friday, May 8th, the shares of Adani Gas Ltd reported a bullish trend in the stock market. The company gained 2.90 points with a 2.78% increase and reached 107.25 INR. While in BSE, the company gained 3.20 points with a 3.07% increase and reached 107.35 INR.

Stock Market on May 8th:

On Friday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last two sessions. The Sensex is trading above 31,600 level, and Nifty is trading above the 9,200 level in the stock market. The Sensex gained 199.32 points with a 0.63% increase and reached a 31,642.70 level. While Nifty gained 52.45 points with a 0.57% increase and reached 9,251.50 level.

On the other side, the number of coronavirus cases in India reached 56,342 as of Friday, May 8th, and deaths reached 1,886.

In the border market, the S&P BSE Smallcap index reported a bearish trend in the stock market on Friday. It lost 48.05 points with a 0.45% decrease and reached a 10,638.70. The S&P BSE Midcap index gained 4.13 points with a 0.036% increase and reached an 11,423.81 level. While Nifty Bank lost 138.90 with a 0.71% decrease and reached 19,352.90  level.

Top Gainers on May 8th: HUL, Nestle, Tech Mahindra, Dr. Reddy’s Labs, and Sun Pharma are the top gainers in the stock market. 

Top Losers on May 8th: Axis Bank, NTPC, M&M, Indusind Bank, and SBI are the top losers in the stock market.

The post Adani Gas Q4 results: consolidated net profit of Rs 121 crores appeared first on stockinvestor.in.

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