ICICI Bank: The bank on Saturday reported a 58 per cent jump in its March quarter consolidated net to ₹7,719 crore, helped by a sharp decrease in the money set aside for bad debts. On a standalone basis, the second largest private sector lender reported a 59 per cent jump to ₹7,019 crore for the January-March quarter of 2021-22. It ended the fiscal year FY22 with a 44 per cent growth in the bottomline at ₹23,339 crore.
Reliance Industries: The Mukesh Ambani-led firm on Saturday said its ₹24,713-crore deal to acquire Future Group’s assets cannot be implemented after secured creditors of the Kishore Biyani-led companies voted against the proposal. Several listed Future Group entities – – in their respective regulatory filings on Saturday also said composite Scheme of Arrangement with Reliance Group entities now can not be implemented due to the outcome of the voting.
Aditya Birla Capital: Vishakha Mulye, an ICICI Bank veteran, will take over as the chief executive of Aditya Birla Capital, the non-bank lender said on Saturday. Mulye, who was the executive director of ICICI Bank in charge of the wholesale banking portfolio, will take over her role on June 1, as per an announcement by Aditya Birla Capital to the exchanges.
RailTel Corporation of India: RailTel Corporation of India, a Mini Ratna central government PSU under the Ministry of Railways, has received a work order from Rail Vikas Nigam Limited (RVNL) worth ₹11.57 crore for the installation of multi-protocol label switching (MPLS) virtual private networks (VPNs) at 33 locations across the country.
Aurobindo Pharma: Leading drug firms Aurobindo Pharma, Sun Pharma and Jubilant are recalling different products in the US market for various reasons, as per the latest enforcement report by the US Food and Drug Administration (USFDA).
Nykaa: The firm on Friday announced its strategic investments in three companies involved in clean beauty, athleisure nutricosmetics. The company has acquired stakes in Earth Rhythm, Nudge Wellness and KICA. (remove this)
HDFC Bank: The largest private lender the country declared a 1550 per cent or 15.50 per share dividend to its shareholders for the financial year 2021-22. The board at its meeting has recommended a dividend of Rs 15.50 per equity share of Re 1 (1550 per cent) out of the net profits for the year ended March 31, 2022.
Moving on to marketsIndian indices may witness a flat to negative start on Monday.
Last week, the indices registered losses overall after shedding around 1.23% on Friday, spooked by US Fed chief Jerome Powell’s hawkish statement, and poor results posted by heavyweights Infosys and HDFC Bank.
On Friday, the Wall Street tumbled over 2.5% as earnings news and Powell’s comments soured the mood of the investors.
Indices in Asia fell on Monday, tracking Wall Street’s fall on worries over higher interest rates.
Business term of the day
An index is a method to track the performance of a group of assets in a standardized way. Indexes typically measure the performance of a basket of securities intended to replicate a certain area of the market. These could be a broad-based index that captures the entire market, such as the Standard & Poor’s 500 Index or Dow Jones Industrial Average (DJIA), or more specialized such as indexes that track a particular industry or segment.
In this episode, find out about Reliance Industries’ plan to acquire Metro AG, also find out MTNL’s Rs 17,571 crore fundraising plan Business Term of the Day: RBI Retail Direct Sc ... Read more
In this episode, find out about Reliance Industries’ plan to acquire Metro AG, also find out MTNL’s Rs 17,571 crore fundraising plan Business Term of the Day: RBI Retail Direct Scheme Read more
In this episode, find out about Byju’s decision to lay off 2500 employees, also find out Government’s decision to scrap SAIL’s Bhadravathi steel plant privatisation Business Term ... Read more
In this episode, find out about Byju’s decision to lay off 2500 employees, also find out Government’s decision to scrap SAIL’s Bhadravathi steel plant privatisation Business Term of the Day: Asset Reconstruction Company Read more
In this episode, find out about TCS’ plan to help central banks roll out digital currency, also find out why large corporates will not bid for IDBI Bank Business Term of the Day: ... Read more
In this episode, find out about TCS’ plan to help central banks roll out digital currency, also find out why large corporates will not bid for IDBI Bank Business Term of the Day: Suptech Read more
In this episode, find out about NCLT admitting GVK Power (Goindwal Sahib) for insolvency, also find out about Panacea Biotech baging global vaccine order Business Term of the Day: ... Read more
In this episode, find out about NCLT admitting GVK Power (Goindwal Sahib) for insolvency, also find out about Panacea Biotech baging global vaccine order Business Term of the Day: Net Asset Value Read more
In this episode, find out about RBI approves the appointment of Prashant Kumar as MD & CEO of Yes bank, also find out about World Bank cuts India’s FY23 GDP forecast to 6.5% B ... Read more
In this episode, find out about RBI approves the appointment of Prashant Kumar as MD & CEO of Yes bank, also find out about World Bank cuts India’s FY23 GDP forecast to 6.5% Business Term of the Day: Rebalancing Read more
In this episode, find out about CCI grants approval to the Zee-Sony deal, and also find out about JSW Energy to set up a 960 MW hydro pump storage project in Maharashtra Business ... Read more
In this episode, find out about CCI grants approval to the Zee-Sony deal, and also find out about JSW Energy to set up a 960 MW hydro pump storage project in Maharashtra Business Term of the Day: Just in Time Read more
In this episode, find out about Rs 500 crore IPO of Electronics Mart India, also find out about TCS’ $ 2 bn deal from BSNL Business Term of the Day: Contract manufacturing. Read more
In this episode, find out about Rs 500 crore IPO of Electronics Mart India, also find out about TCS’ $ 2 bn deal from BSNL Business Term of the Day: Contract manufacturing. Read more
In this episode, find out about Zee to shut channel to allay CCI concerns over the Sony deal, and also find out about CCI clears Bank of Baroda’s additional stake buy in IndiaFirst ... Read more
In this episode, find out about Zee to shut channel to allay CCI concerns over the Sony deal, and also find out about CCI clears Bank of Baroda’s additional stake buy in IndiaFirst Life Insurance Business Term of the Day: Inflation targeting Read more
In this episode, find out about Hero MotoCorp’s plan to invest $60 m in Zero Motorcyles, also find out about IOC’s plans to float a new subsidiary to do financing activities in Gif ... Read more
In this episode, find out about Hero MotoCorp’s plan to invest $60 m in Zero Motorcyles, also find out about IOC’s plans to float a new subsidiary to do financing activities in Gift City Business Term of the Day: Government borrowing Read more
In this episode, find out about the government’s 2 stage plan to privatize IDBI Bank and also find out about Airtel Payment bank’s plans to set up 1.5 lk micro ATMs Business Term ... Read more
In this episode, find out about the government’s 2 stage plan to privatize IDBI Bank and also find out about Airtel Payment bank’s plans to set up 1.5 lk micro ATMs Business Term of the Day: Gig economy Read more
