Latest news with #053
Time of India
05-07-2025
- Business
- Time of India
Nagpur-Bhandara Six-Lane Work To Begin In 4 Months: Gadkari
1 2 Nagpur: The much-delayed widening of the Nagpur-Bhandara road into a six-lane highway is expected to commence within the next three to four months, Union Minister Nitin Gadkari announced on Saturday. The project had been held up due to issues with a BOT (build-operate-transfer) operator, whose contract has now been terminated. Addressing an event in Bhandara, Gadkari said the road had witnessed 54 fatalities and over 225 injuries due to delays in improvement work. "The detailed project report (DPR) is ready, and as land acquisition requirements are minimal, the work should begin soon," he said. The minister was in Bhandara to inaugurate and lay foundation stones for various road infrastructure projects worth Rs1,053 crore under the National Highways Authority of India (NHAI) and the state Public Works Department (PWD). He underlined that infrastructure growth is the foundation of comprehensive regional development. Gadkari also inaugurated the 14.8-km six-lane Bhandara Bypass—part of NH-53—built at a cost of Rs735 crore. The bypass includes three major bridges, one across the Wainganga River, and two animal underpasses at Bhilewada. Officials said the bypass will help reduce traffic congestion and improve connectivity for local commuters and long-distance travellers alike. Recalling his student days, Gadkari said the earlier bridge over Wainganga would routinely submerge, disrupting travel. "After becoming a minister, I ensured construction of a new bridge, which is now part of the upgraded bypass," he said. He also emphasized Bhandara's potential as a hub for tourism, agriculture, and industry, citing natural assets like Nagzira forests and Navegaon Dam. Gadkari revealed that a Rs20 crore watercraft is being procured from Russia to facilitate water transport from Bhandara to Ambhora via the Wainganga River. He added that the region's mineral wealth and forest resources hold immense promise for generating local employment and boosting economic activity.
Economic Times
26-06-2025
- Business
- Economic Times
Indostar banks on improving asset quality, branch expansion for growth
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The stock of Indostar Capital has gained 21% since its March quarter result declared on April 29 compared with nearly 4.5% increase in the ET NBFC index. The mid-tier nonbanking financial company (NBFC) reported strong growth in net interest income and improved asset quality amid tightened lending policies. The company sold stressed loans in a transaction with an asset reconstruction company (ARC) during the quarter which is expected to keep asset quality high in FY26 as cost-income ratio has historically been higher in the vicinity of 70%. It has undertaken a cost optimisation drive to rationalise operating costs. The company aims to bring the cost-income ratio down to around 50% in the coming the past two years, the company has been focusing on expanding its reach. It added over 150 branches during the period to take the total count to 587 at the end of March 2025. It also augmented the workforce significantly by 1764 to 5,763. The management expects these initiatives will help in achieving 12-15% growth in assets under management (AUM). In FY25, its AUM grew by 26.1% to Rs11,053 retail share in the AUM reached 99% in FY25 from 26% in FY18. It undertakes commercial vehicle financing, small and medium enterprises (SME) lending, and loan against property (LAP).The company plans to replace high cost debt worth Rs 800 crore attracting an interest rate of 12% with fresh borrowings at a coupon rate of 10% in the June 2025 quarter. This is expected to reduce the debt servicing cost. The company spent over half of the revenue from operations on interest payment in each of the two years to net profit grew by 2.6% to Rs36.2 crore in the March 2025 quarter. Net interest income (NII) at Rs181 crore fell year-on-year by 22% due a high base of one-time gain in the previous year's comparable quarter. Disbursements at Rs1,535 crore were 13% lower from the year ago as the company implemented tighter lending policies. On a standalone basis, gross non-performing assets (NPA) fell to 4.5% from 5% by similar Oswal expects 94% growth in net profit of Indostar between FY25 and FY27. The brokerage has a buy rating on the stock with a target price of Rs360. On Thursday, it was last traded at Rs352.5 on the BSE.
Time of India
26-06-2025
- Business
- Time of India
Indostar banks on improving asset quality, branch expansion for growth
The stock of Indostar Capital has gained 21% since its March quarter result declared on April 29 compared with nearly 4.5% increase in the ET NBFC index. The mid-tier nonbanking financial company (NBFC) reported strong growth in net interest income and improved asset quality amid tightened lending policies. The company sold stressed loans in a transaction with an asset reconstruction company (ARC) during the quarter which is expected to keep asset quality high in FY26 as well. Indostar's cost-income ratio has historically been higher in the vicinity of 70%. It has undertaken a cost optimisation drive to rationalise operating costs. The company aims to bring the cost-income ratio down to around 50% in the coming quarters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Belly Fat Removal Without Surgery in Philippines: The Price Might Surprise You Belly Fat Removal | Search Ads Undo Over the past two years, the company has been focusing on expanding its reach. It added over 150 branches during the period to take the total count to 587 at the end of March 2025. It also augmented the workforce significantly by 1764 to 5,763. The management expects these initiatives will help in achieving 12-15% growth in assets under management (AUM). In FY25, its AUM grew by 26.1% to Rs11,053 crore. The retail share in the AUM reached 99% in FY25 from 26% in FY18. It undertakes commercial vehicle financing, small and medium enterprises (SME) lending, and loan against property (LAP). The company plans to replace high cost debt worth Rs 800 crore attracting an interest rate of 12% with fresh borrowings at a coupon rate of 10% in the June 2025 quarter. This is expected to reduce the debt servicing cost. The company spent over half of the revenue from operations on interest payment in each of the two years to FY25. Live Events Indostar's net profit grew by 2.6% to Rs36.2 crore in the March 2025 quarter. Net interest income (NII) at Rs181 crore fell year-on-year by 22% due a high base of one-time gain in the previous year's comparable quarter. Disbursements at Rs1,535 crore were 13% lower from the year ago as the company implemented tighter lending policies. On a standalone basis, gross non-performing assets (NPA) fell to 4.5% from 5% by similar comparison. Motilal Oswal expects 94% growth in net profit of Indostar between FY25 and FY27. The brokerage has a buy rating on the stock with a target price of Rs360. On Thursday, it was last traded at Rs352.5 on the BSE.
![MARKET PULSE AM JUNE 17, 2025 [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
17-06-2025
- Business
- New Straits Times
MARKET PULSE AM JUNE 17, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia began the day on a lower note this Tuesday, even as Wall Street closed on a stronger footing overnight. Analysts continue to adopt a cautious stance. Although tensions in the Middle East have eased, peace talks have yet to produce any firm resolutions. The benchmark index is expected to hover within the range of 1,515 to 1,525 points throughout the day. Among the most actively traded counters in early dealings were Bumi Armada, NationGate Holdings, and Steel Hawk. In the cryptocurrency space, Bitcoin is currently trading at around RM400,053, while Ethereum stands at approximately RM10,923. That's it for Market Pulse.
