Stocks
HDFC Bank Q3 net up
Chennai : Private sector HDFC Bank Ltd. on Monday said it closed the third quarter with around 20 percent growth in its net profit.
 
In a statement, the bank said it posted a net profit of Rs.3,356.84 crore for the quarter ended December 31, 2015, up from Rs.2,794.51 crore posted for the quarter ended December 31, 2014.
 
According to HDFC Bank, the total income for the period under review stood at Rs.18,283.31 crore, up from Rs.14,930.74 crore for the quarter ended December 31, 2014.
 
As on December 31, 2015, in quantum terms the bank's gross and net non-perfoming assets went up to Rs.4,255.20 crore and Rs.1.260.60 crore respectively from Rs.3,467.91 crore and Rs.903.66 crore as on December 31, 2014.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Funding up by 2.3 times in India start-ups: Jefferies
New Delhi : Indian start-up companies saw a 2.3 times increase in number of private equity (PE) or venture capital (VC) funding deals in 2015, which indicated a significant broadening of the sector beyond e-tailing, a recent Jefferies research note said here.
 
"There was a 2.3x increase in number of PE/VC funding deals in 2015 indicating a significant broadening of the sector beyond e-tailing," the research note said.
 
The report said fund raising from PE/VCs aggregated $5.7 billion in 2015 compared to $4.1 billion in 2014.
 
"While the December quarter was relatively muted with less than $1 billion of funds raised, we note that number of deals (of $5 million and above) still doubled year-on-year from 12 to 24."
 
According to the report, two key trends emerged in 2015 -- unlike in 2014 when e-tailing companies accounted for over 70 percent of money raised, 2015 saw significant diversification with many non-e-tailing companies raising more than $100 million of funding each.
 
Also, while the value of funds raised increased by 40 percent year-on-year, the number of deals increased 2.3 times from 49 to 112 indicating a significant increase in the breadth of companies.
 
The Indian government announced the Start-Up India Action Plan on January 16, where it gave an income tax holiday for three years and exemption from capital gains levies on venture capital investments to the start-ups.
 
"While there are some positive measures, the definition of start-ups to qualify for many of the schemes could be a limiting factor," the report stated.
 
A host of incentives were unveiled by Prime Minister Narendra Modi for start-ups, which included self-certification and a three-year exemption from inspections, an online portal and mobile app, an 80 percent cut in the patent application fee and a single-point hub for hand-holding.
 
He also announced a Rs.10,000 crore fund for new enterprises, equal opportunity in government procurement, a Rs.500 crore credit guarantee scheme and easier exit norms.
 
The Jefferies report pointed out "the definition of startups to qualify for the government schemes precludes start-ups with turnover of over Rs.250 million, which would limit the benefits to better performing startups. Moreover, the definition also requires that start-ups get certification from an inter-ministerial board, which could prove onerous".
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Electronic gadgets top choice for e-tailers this R-Day sale
New Delhi : With the Republic Day online sale offering some great discounts entering its last phase, the nation's top e-taliers have seen a tremendous response from the customers for mobile phones and other electronic gadgets.
 
According to Snapdeal, the demand for mobile phones and accessaroies and other eletronic gadgets soared since it started its sale with a tagline "Republic of Savings" on January 21 for six days, offering discounts of up to 70 percent.
 
“The response from the public is fantastic for mobile phones ranging from Rs.10,000 like Lenovo A6000. With special offers on Nexus5, I-phone 5S and Micromax, sales are rising as Republic Day approaches,” Rahul Taneja, vice president (category management) of Snapdeal, told IANS.
 
“Apart from mobile phones, JBL headphones and Canon 1200D cameras, Boothtooth audio equipment and sound bass of JBL demand are rising,” Taneja stated as the Snapdeal sale ends on January 26.
 
Almost all the major e-retailers like Flipkart, Amazon, eBay, Myntra and Snapdeal have come up with their own themes on Republic Day.
 
Flipkart’s "Republic Day" three-day sale that was kicked-off on January 20 saw consumers buying heavily into electronic brands like Micromax, Lenovo, Samsung, Apple, Canon and Nikon.
 
According to Flipkart, it saw 30 percent growth in traffic with home appliances and large appliances among the top searched categories.
 
“Samsung Galaxy On5 and On7 sold close to a lakh units with 10 times spike in air fryers. Memory cards were the top-selling item with 300 percent growth in this segment,” a Flipkart statement said.
 
For Amazon, the "Great Indian Sale" that was spread across three days from January 21-23 saw great response.
 
“With this 72-hours marathon deals, our customers had a delightful time shopping in the New Year across a wide selection of products at best possible price-points," Samir Kumar, vice president with Amazon India, said.
 
The Amazon ‘Great India Sale’ had limited-time deal on brands like GoPro Cameras, ME Electronics and Ravensburger Puzzles.
 
According to Amazon, video games and music witnessed their biggest days in terms of units sold on first day of sale.
 
Customers also availed up to 7.5 percent off on HDFC bank debit and credit card on Flipkart.
 
On Amazon, customers enjoyed instant discounts on Amazon.in gift cards while Citibank credit card holders were given 10 percent cash back in addition to great savings during the sale.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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