CleanMax has surpassed analyst estimates for the third consecutive quarter, driven by portfolio expansion and strong business performance. The company reported a 58% rise in H1 EBITDA and a six-fold increase in profit after tax (PAT), highlighting its robust growth momentum and improving financial performance.
Bagmane Prime Office REIT announced a distribution of Rs 527 crore to unitholders for the September quarter. The company leased 1.2 million square feet during this period, achieving a committed occupancy rate of 99 percent. Most of the leasing activity was directed towards Global Capability Centres in Bengaluru, which highlights their preference for quality assets. The average rent achieved was slightly above the prevailing market rates, reflecting strong demand.
Binance reported a cyberattack attributed to North Korea that compromised $6.34 billion in digital assets. Approximately $2.85 billion of the affected assets have since been frozen or intercepted. The attackers utilized fake job interviews and advanced malware to breach Binance's security systems. Subsequently, the company took steps to replenish the lost assets and mitigate the damage caused.
Securities and Exchange Board of India has imposed a total penalty of Rs 40 lakh on four entities. This penalty includes fines on Woodstock Broking and Marfatia Stock Broking for front-running trades. The investigation spanned from April 1, 2021, to March 31, 2022, involving these entities. Evidence indicated that brokers facilitated these trades by providing necessary infrastructure and assistance.
Utkarsh Small Finance Bank experienced a loss of Rs 70 crore in the second quarter, marking six consecutive quarters of decline. The lender’s operating profit was Rs 85 crore, but provisions of Rs 166 crore led to the net loss. Its gross non-performing asset ratio improved slightly, standing at 5.96% at the end of September. The bank's gross loan portfolio saw a year-on-year growth of 7.5%, reaching Rs 20,062 crore.
Nexus Select Trust reported an 8% year-on-year increase in net operating income for the second quarter. The company's retail assets experienced a 13% rise in consumption compared to the previous year. Nexus declared a distribution of Rs 359 crore, maintaining a 100% payout to unitholders for 13 consecutive quarters. The firm is expanding its portfolio with plans to develop a Grade-A mall and hotel in Guwahati.
State Bank of India reported a 14% year-on-year rise in Q2 FY27 net profit to Rs 23,038 crore, driven by 18% loan growth, higher net interest income, lower deposit costs and reduced loan loss provisions.
Indian equities rallied nearly 2%, with Sensex gaining 1,225 points and Nifty rising 370 points. Falling crude prices, renewed FII buying, resilient earnings and expectations of LTCG tax changes boosted sentiment, adding nearly Rs 4 lakh crore to market capitalisation.
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