HDFC Bank: The country’s largest private sector lender HDFC Bank on Saturday reported a 23 per cent jump in standalone net profit to ₹10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed.
ICICI Pru Life: ICICI Prudential Life Insurance on Saturday posted over two-fold jump in its net profit to ₹185 crore for the January-March quarter on account of robust growth in new business. The company had posted a profit after tax of ₹64 crore for January-March FY2021, ICICI Prudential Life Insurance said in a regulatory filing.
Mahindra Holidays & Resorts: Mahindra Holidays & Resorts India Ltd on Saturday said it will increase its holding in Rocksport Pvt Ltd, a firm engaged in soft adventure activities and learning programmes, to 23.42 per cent with the acquisition of a tad over 4.88 lakh equity shares for ₹12 crore. The company has agreed to subscribe to an additional 4,88,321 equity shares of Rocksport in three installments for a total cash consideration of ₹12 crore, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.
Tata Power: Tata Power on Thursday said a consortium led by US-based BlackRock Real Assets will invest ₹4,000 crore in its subsidiary, Tata Power Renewable Energy Ltd, for over 10 per cent equity stake. Abu-Dhabi-based investment company Mubadala Investment Company (Mubadala) is also part of consortium GreenForest, Tata Power Company said in a statement.
UltraTech Cement: The country’s leading cement maker UltraTech Cement on Friday announced investing USD 101.10 million (around ₹839.52 crore) for a 29.39 per cent equity stake in the UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). This is a “strategic investment” for the company, Aditya Birla Group firm said in a regulatory update.
Maruti Suzuki India Ltd is committed to introducing its first locally made electric vehicle in the country by 2025, but it won’t be an affordable electric small car. Hisashi Takeuchi, the new chief executive and managing director of India’s top carmaker, said a truly affordable small electric car is a distant prospect for the company, one that will extend beyond 2025, due to issues such as battery costs and charging infrastructure.
Moving on to markets
The benchmark indices are likely to start Monday’s session in the negative territory amid weak global cues due to the on-going geo-political situation and rising inflation.
At 7:15 am, the SGX Nifty Futures were quoting around 17,290 levels, hinting at a likely gap-down start of 200 points on the Nifty50.
Global cues remain weak amid the continued war in Ukraine and no hopes of resolution on the horizon as talks between Russia and Ukraine fail to make progress.
Back home today, investors will monitor the wholesale-price index (WPI) reading for March that will be announced today. The retail inflation for the month had hit a 17-month high of 6.95 per cent from a year ago.
Business Term of the day
Restricted stock units are a way an employer can grant company shares to employees. The grant is “restricted” because it is subject to a vesting schedule, which can be based on length of employment or on performance goals, and because it is governed by other limits on transfers or sales that your company can impose.
In this episode, find out about Bharti Airtel’s acquisition of stake in a Bengaluru start-up, also find out about Jubilant Foodworks’ 20-minute delivery plan for Domino’s Pizza Bu ... Read more
In this episode, find out about Bharti Airtel’s acquisition of stake in a Bengaluru start-up, also find out about Jubilant Foodworks’ 20-minute delivery plan for Domino’s Pizza Business Term of the Day: Foreign exchange market Read more
In this episode, find out about the block deal by promoters of Dabur India, also find out why markets have hit day’s low in trade today Business Term of the Day: Anchor Investors Read more
In this episode, find out about the block deal by promoters of Dabur India, also find out why markets have hit day’s low in trade today Business Term of the Day: Anchor Investors Read more
In this episode, find out about KFin Tech’s IPO, also find out about Adani Group’s plan to invest Rs 10,700 cr for the expansion of Lucknow Airport Business Term of the Day: Share ... Read more
In this episode, find out about KFin Tech’s IPO, also find out about Adani Group’s plan to invest Rs 10,700 cr for the expansion of Lucknow Airport Business Term of the Day: Share purchase agreement Read more
In this episode, find out about Reliance group’s new packaged goods brand, also find out about HPCL’s debt-raising plan Business Term of the Day: Capital Read more
In this episode, find out about Reliance group’s new packaged goods brand, also find out about HPCL’s debt-raising plan Business Term of the Day: Capital Read more
In this episode, find out about Poonawalla Fincorp’s plan to sell the housing subsidiary to the TPG subsidiary, also find out about Arham Tech to list today Business Term of the D ... Read more
In this episode, find out about Poonawalla Fincorp’s plan to sell the housing subsidiary to the TPG subsidiary, also find out about Arham Tech to list today Business Term of the Day: 5G Read more
In this episode, find out about Manappuram Finance’s succession plan, also find out about Bharti Airtel’s plan to tie-up with Meta to invest in telecom infrastructure Business Ter ... Read more
In this episode, find out about Manappuram Finance’s succession plan, also find out about Bharti Airtel’s plan to tie-up with Meta to invest in telecom infrastructure Business Term of the Day: Liquidation Read more
In this episode, find out about NTPC’s hunt for investors for its subsidiary NTPC Green Energy, also find out why Maruti Suzuki’s production will fall short of the target Business ... Read more
In this episode, find out about NTPC’s hunt for investors for its subsidiary NTPC Green Energy, also find out why Maruti Suzuki’s production will fall short of the target Business Term of the Day: Succession planning Read more
In this episode, find out about Tata Play’s IPO plans, also find out about RBI’s nod to Carylyle, Advent for 9.9% stake in Yes Bank Business Term of the Day: Additional Tier 1 bon ... Read more
In this episode, find out about Tata Play’s IPO plans, also find out about RBI’s nod to Carylyle, Advent for 9.9% stake in Yes Bank Business Term of the Day: Additional Tier 1 bonds Read more
In this episode, find out about TCS’ contract to build UK Government’s Rail Data marketplace, also find out why Indian markets have hit fresh record highs today Business Term of t ... Read more
In this episode, find out about TCS’ contract to build UK Government’s Rail Data marketplace, also find out why Indian markets have hit fresh record highs today Business Term of the Day: Liquidity Read more
In this episode, find out about SBI’s decision to raise Rs 10,000 crore via infrastructure bonds, also find out about Alibaba Group Holding’s plan to sell a 3% stake in Zomato Bus ... Read more
In this episode, find out about SBI’s decision to raise Rs 10,000 crore via infrastructure bonds, also find out about Alibaba Group Holding’s plan to sell a 3% stake in Zomato Business Term of the Day: Digital Wallets Read more
