Equity markets began the week positively, closing at a day’s high. Ultratech, IOC, Adani Energy, Adani Total Gas, Kfin Tech, and Tata Chemicals will be in focus this week due to various developments and quarterly earnings. Spandana Sphoorty, UCO Bank, Rossari Biotech, RVNL, Kfin Technologies, KEC International, Shoppers Stop, Tata Chemicals, and Coromandel International also reported their quarterly results. Read more for details.
Mishaps such as crediting funds to the wrong person or a wrong account at large institutions like banks are some of the most significant risks of running a financial services firm. Nithin Kamath, the founder of Zerodha, emphasized the importance of profitability in financial services firms to avoid catastrophic events that can lead to bankruptcy. The recent incident at UCO Bank, where Rs 820 crore was transferred erroneously, highlights the need for a robust ecosystem to avert such mishaps.
