Newsmakers: Rajan warns against more debt, JSW Steel reports Rs 923-cr loss and more

YES Bank Q3 net profit rises 25%, beats estimates
YES Bank, country's fifth-biggest private sector lender by assets, reported a better-than-expected 25 percent increase in quarterly profit, and said it expected full-year credit costs to be at the lower end of its guidance range. The bank 's total income rose to Rs 4,122.12 crore in the quarter under review, up 17.49 per cent from Rs 3,508.47 crore in the corresponding quarter a year ago," it said in a BSE filing.

Sensex ends 401 points up; Nifty tops 7,550
The S&P BSE Sensex ended 401 points higher in trade on Friday, while broader CNX Nifty topped its key 7,550-mark on the first day of the February derivative contracts. The benchmark indices rallied after the Bank of Japan adopted negative interest rates for the first time at the end of its two-day policy review, buckling under pressure to ease concerns about the health of the world's third-largest economy.

JSW Steel reports Rs 923-cr Q3 loss on one-time charge
JSW Steel reported a consolidated net loss of Rs 923 crore ($136 million) for the December quarter hurt by a one-time charge and as the steel sector struggles with weak demand and high debt. JSW Steel, which had reported a net profit of Rs 329 crore in the year-ago quarter, said the latest consolidated results included a one-off charge of Rs 2,122 crore on impairment of assets.

FM Arun Jaitley can let deficit slip, go for growth: Poll
Finance Minister Arun Jaitley would get away with letting his borrowing targets slip when he presents his annual budget next month, according to the overwhelming majority of economists in a Reuters poll. Half the 30 economists surveyed also said the most pressing priority for Jaitley's third budget was to invest in infrastructure - endorsing the pro-growth course he set a year ago.

RBI chief Rajan warns against fiscal deficit driven growth
Ahead of the Budget, RBI Governor Raghuram Rajan on January 29 warned against generating economic growth through additional debt saying that any deviation from the fiscal consolidation path will hurt stability of the economy. Rajan said macroeconomic stability during the global turmoil cannot be risked and the government and RBI should continue to bring down inflation.