SBI Shares Record 1.6% Weekly Gain Amid Positive Banking Sector Sentiment
State Bank of India (SBI) shares have experienced a positive week, recording a total gain of 1.6%. The steady rise reflects overall stability in the banking sector and investor confidence in India's largest public sector lender. While daily fluctuations occurred, the weekly performance highlights a constructive trend for the stock. Analysts are watching these gains as a sign of resilience in the domestic financial market, driven by consistent earnings expectations and favorable macroeconomic conditions within the country.
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Rahul Gandhi Criticizes PM Modi Over CBSE Answer Sheet Scanning Irregularities
Leader of the Opposition Rahul Gandhi has intensified his criticism of Prime Minister Narendra Modi regarding the Central Board of Secondary Education (CBSE) On-Screen Marking (OSM) controversy. Gandhi alleges that the concerns of approximately 18.5 lakh students have been ignored following reports of systemic irregularities in the digital scanning and assessment of board examination answer sheets. In a social media post, Gandhi pointed out that while the Prime Minister addressed various topics during his 'Mann Ki Baat' radio program, he remained silent on the grievances of students facing high re-evaluation fees. The opposition leader characterized the situation as a failure of institutional integrity within the national education body.
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IndiGo Shares Surge 5% Despite Reporting Q4 Net Loss of Rs 2,536 Crore
IndiGo's parent company, InterGlobe Aviation, saw its shares rise by 5% following its Q4 results. Despite reporting a significant net loss of Rs 2,536 crore due to disruptions from the Middle East conflict, investors and analysts remained optimistic. Major brokerages like Goldman Sachs and Jefferies maintained 'Buy' ratings, emphasizing India’s robust domestic aviation demand and the airline's strategic growth plans. The market appears to be looking past short-term losses toward long-term recovery and market leadership.
Inox Wind Shares Drop 8% as Q4 Net Profit Falls 45% Year-on-Year
Inox Wind shares witnessed a sharp decline of 8% after the company reported a 45% drop in consolidated net profit for the fourth quarter. The profit fell to Rs 105.68 crore, primarily due to lower operational revenue and a 5% increase in total expenses. Revenue for the quarter slipped to Rs 1,244 crore. The weak earnings report has led to cautious sentiment among investors, as the company struggled with rising costs despite a generally active renewable energy sector.