Nifty companies reported a 4% year-on-year profit growth in Q2, marking the second consecutive quarter of single-digit growth, driven by SBI, Hindalco, ONGC, ICICI Bank, and Axis Bank. However, underperformance from BPCL, JSW Steel, and others offset gains, with consumption and asset-quality stress in BFSI sectors noted as weak spots. FY25 earnings projections have been downgraded by 7%, with a mere 5% growth expected, the weakest since FY20.
Ajit Dayal, founder of Quantum Asset Management Company, is striving to revitalize the mutual fund house, which has slipped from its promising start in 2006 to 37th place among 43 fund houses. In a bid to protect investor interests, he is challenging ICICI Bank over the delisting of ICICI Securities, while also focusing on expanding the investor base.
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