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Bajaj Finance Q2 Results: Net profit jumps 29% YoY to Rs 6,367 crore, NII up 24%

Bajaj Finance reported a 29% year-on-year increase in net profit to Rs 6,367 crore in the September quarter, compared with Rs 4,948 crore a year earlier.Net interest income rose 24% to Rs 13,335 crore from Rs 10,785 crore in the year-ago quarter. Net total income increased 23% to Rs 15,974 crore from Rs 12,982 crore.Assets under management grew 26% year-on-year to Rs 5.85 lakh croreas of September 30, 2026, from Rs 4.62 lakh crore a year earlier. AUM increased by Rs 37,680 crore during the quarter.The non-banking financial company booked 13.45 million new loans in the quarter, up 11% from 12.17 million in the corresponding period last year. Its customer franchise grew 16% year-on-year to 128.85 million as of September 30, adding 4.42 million customers during the quarter.Profit before tax rose 29% to Rs 8,537 crore from Rs 6,608 crore in the year-ago quarter. Excluding a prudent management and macroeconomic provision of Rs 337 crore, profit before tax grew 34% to Rs 8,874 crore. Net pro...
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Engie plans to invest €3 billion in India by 2030

from Economic Times https://ift.tt/OlYejck
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Ahmedabad to get a major Vande Bharat repair hub

from Economic Times https://ift.tt/y8fulQc
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Vehicle barrels into Kansas soccer field, kills 2

Wichita: A person drove a vehicle through a soccer field during a game in Kansas, killing two people and sending multiple other victims to the hospital, authorities said.One child and one adult were killed on Saturday, Wichita police reported, without disclosing their ages.Police said the driver was in custody but did not give further details about the person or say whether they believe it was intentional. Two minors were also in the vehicle.Police, fire and EMS officials responded, and authorities said there was no further public threat.Mayor Lily Wu advised people to avoid the area during the investigation and said the news was heartbreaking."My thoughts and prayers are with everyone affected, especially the children and families involved," she said via Facebook. from Economic Times https://ift.tt/VCW8nGR
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Family offices bet Rs 2,000 cr on temple hotels

Mumbai: Family offices are investing in hospitality assets around major pilgrimage centres across India, from Deoghar and Mathura to Saurashtra and Udupi, opening a new frontier for the domestic hotel industry. From a Mumbai family office acquiring a nearly completed upscale hotel in Udupi to RR Kabel's investment in Salasar Balaji, family capital is flowing into branded hotels around India's biggest pilgrimage centres.Nearly Rs 2,000 crore has been committed across key religious destinations over the past 12-18 months, according to Noesis Hotel Advisors, as some of India's wealthiest business families turn their conviction in these destinations into a hospitality investment play.Also Read: Lemon Tree Hotels announces signing of MoU with Omaxe for operating 4,000 keysThe Udupi acquisition involves a nearly completed 137-room upscale hotel that will operate under a premium brand of Indian Hotels Company (IHCL). In Salasar Balaji, a family office is developing a 108-room prop...
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Reliance and Blinkit executives face FIR

from Economic Times https://ift.tt/cSLWozs
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Big US bank stocks head for longest weekly losing streak since 2008

Shares of major US banks headed for their longest weekly losing streak since the 2008 global financial crisis after mixed quarterly earnings failed to improve sentiment toward the struggling sector, Bloomberg News reported.The 24-member KBW Bank Index fell about 1.3% during the week and remained in correction territory, having declined roughly 13% from its August record. Although the group had suffered steeper selloffs—including a nearly 17% decline earlier in the year—it was on course for a sixth consecutive weekly loss, its longest such run since 2008.Bank stocks had already come under pressure amid concerns about how artificial intelligence could disrupt financial services. A hotter-than-expected inflation reading added to uncertainty over how aggressively the Federal Reserve would act to rein in persistent price pressures.Also Read | Chip selloff deepens Wall Street losses as doubts grew over AI returnsAccording to Bloomberg Intelligence analyst Herman Chan, large banks faced sever...
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