Finance

Care Ratings, a leading domestic credit rating agency, has reported a significant surge in its fourth-quarter net profit for the fiscal year 2024-25. The company's profit climbed by 77%, reaching Rs 43.37 crore, driven by increased income. For the full fiscal year, Care Ratings achieved a 36.5% year-on-year growth in net profit. This positive financial performance was reflected in its stock market activity, with shares closing at Rs 1,342.85, a notable 4.28% increase from the previous day.

One97 Communications Ltd (OCL), the parent company of Paytm, along with its CEO Vijay Shekhar Sharma and his brother Ajay Shekhar Sharma, have reached a settlement with the Securities and Exchange Board of India (Sebi) regarding a case involving the company’s Employee Stock Options (ESOPs). The settlement includes a total payment of Rs 2.8 crore and the cancellation of ESOPs granted to the Sharma brothers.

Indian equities tumbled on Thursday as heightened geopolitical tensions between India and Pakistan cast a shadow over investor sentiment. The benchmark Sensex fell by 412 points, while the Nifty lost over 140 points, reversing early gains in a volatile trading session. Escalating cross-border hostilities, marked by drone and missile exchanges and military strikes, triggered profit-booking in key sectors like banking, FMCG, and automobiles. Although foreign institutional investors (FIIs) maintained a net buying stance, domestic sentiment weakened.

Hyderabad-based Goldsikka is making waves in the financial and tech sectors with the introduction of its AI-powered Gold Melting ATM. This cutting-edge machine allows users to buy, sell, exchange, and digitize gold and gold jewelry without human intervention. The ATM, which integrates augmented reality (AR), provides a seamless, secure, and innovative experience for gold transactions. With the potential to revolutionize the industry, Goldsikka plans to expand its reach significantly, with ambitious goals for nationwide and international deployment.

Bajaj Finance Ltd. has announced a robust 16% growth in its standalone net profit for the March 2025 quarter, reaching Rs 3,940 crore, up from Rs 3,402 crore in the same period the previous year. The non-banking financial company (NBFC) also reported a 24% rise in total income, primarily driven by a substantial increase in interest income. The company’s assets under management (AUM) surged by 26%, reflecting strong business performance.

PNB Housing Finance, a leading player in the Indian mortgage sector, has posted an impressive 25% increase in its net profit for the fourth quarter of FY25, amounting to Rs. 550 crore. This marks a notable improvement from the Rs. 439 crore reported during the same period last year. The company's total income also rose significantly, driven by higher interest income and net interest income. PNB Housing Finance’s robust performance was accompanied by a 13% increase in assets under management (AUM) and a steady asset quality profile.

India’s equity markets have seen a notable influx of foreign investment, with Rs 17,425 crore flowing in last week alone. This surge in Foreign Portfolio Investment (FPI) comes on the back of favorable global conditions, including stable US market performance, an expected pause in US interest rate hikes, and a weaker dollar. Domestically, India's strong growth prospects, easing inflation, and positive monsoon forecasts have further attracted foreign investors.

Cholamandalam Investment and Finance Company Ltd, the financial services arm of the Murugappa Group, has posted strong financial results for the quarter and full fiscal year ending March 31, 2025. Driven by broad-based growth in disbursements and disciplined credit management, the company’s profit after tax surged to Rs. 4,262.70 crore for the year, marking a 25% rise over the previous year. Total disbursements breached the Rs. 1 lakh crore milestone, while assets under management (AUM) expanded by 30% year-on-year.

ICL Fincorp, a prominent gold loan financier, has announced plans to raise Rs 100 crore through a public issue of secured, redeemable Non-Convertible Debentures (NCDs). This latest offering, which will open on April 25, 2025, and close on May 9, 2025, marks the company's fifth series of NCD issues. The instruments, carrying a Crisil BBB-stable rating, offer attractive returns for investors with effective yields reaching up to 13.01%. The funds raised will be used for business growth, including onward lending, repayment of existing borrowings, and general corporate purposes.

BankBazaar.com, a fintech trailblazer known for its co-branded credit cards and credit score services, has entered the secured loan segment through a strategic partnership with Muthoot FinCorp. This collaboration signifies a bold expansion into India’s high-growth gold loan market, combining BankBazaar's digital prowess with Muthoot’s legacy in gold financing. With a Rs. 15 crore equity investment from Muthoot FinCorp as part of BankBazaar’s Rs. 55 crore Series D2 funding round, the partnership aims to deliver fast, transparent, and compliant lending solutions.