CapitalHeight Provide 2
Days Free Trial For Stocmarket Equity or Commodity Segment. IndusInd Bank on
Thursday reported a net profit of Rs 953.09 crore for the March quarter, around
27 percent higher than in the same quarter last year, as it made fewer
provisions for bad loans. The bank's net profit was largely in line with market
expectations. A Reuter’s poll had pegged its net profit at Rs 961.5 crore for
the quarter under review. This was the 40th quarter for which the lender was
reporting quarterly earnings. Its net profit for the fiscal year ended March
stood at Rs 3,605.99 crore, nearly 26 percent higher than its profit figure
last fiscal. The bank’s net interest income, which is the difference between
interest earned and interest expended, came in at Rs 2,007.59 crore, 20.4
percent higher than in the corresponding quarter a year ago.
Shares of metal companies were buzzing in
trade on Thursday as investors cheered uptick in global metal prices. The Nifty
Metal index was up over 4 percent, while stocks such as Hindustan Copper,
National Aluminum, Hindalco, Vedanta, JSW Steel and Jindal Steel, among others,
gained 2-12 percent.Overnight, global miner Rio Tinto flagged possible downward
adjustments to its 2018 aluminum output following sanctions on its Russian
partner Russel.The metal also surged on the back of US Company Alcoa foreseeing
deficit for aluminum and alumina this year.
In a first-of-its-kind effort by the
central government in the field of defenses strategy, a Defenses Planning
Committee (DPC) is set to be formed under National Security Advisor Ajit
Doval.The DPC will be a permanent body that will prepare military doctrines
defining Indian military objectives for the future. It will drive the country’s
military and security strategy, draft capability development plans as well as
guide and accelerate defenses equipment acquisitions. The defence ministry has
stated the creation of DPC and related details in a notification seen by
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