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 Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Do ... Read more
In this episode, find out about Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Downtrading Read more
In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: ... Read more
In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: Valuation Read more
In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the ... Read more
In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the Day: Infrastructure Investment Trust Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term o ... Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term of the Day: Fixed income Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business ... Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business Term of the Day: Government borrowing Read more
In this episode, find out about Bandhan bank’s bid for IDFC AMC, also find out why Indian markets are likely to trade lower Business Term of the Day: Revenue Read more
In this episode, find out about Bandhan bank’s bid for IDFC AMC, also find out why Indian markets are likely to trade lower Business Term of the Day: Revenue Read more
In this episode, find out why CCI has ordered a probe into Zomato & Swiggy, also find out about Carlyle group selling stake in SBI Cards Business Term of the Day: Merger Read more
In this episode, find out why CCI has ordered a probe into Zomato & Swiggy, also find out about Carlyle group selling stake in SBI Cards Business Term of the Day: Merger Read more
In this episode, find out why lenders of Future Group are looking to auction assets of the retail venture, also find out about HDFC bank’s Q4 business numbers Business Term of the ... Read more
In this episode, find out why lenders of Future Group are looking to auction assets of the retail venture, also find out about HDFC bank’s Q4 business numbers Business Term of the Day: Real interest rate Read more
In this episode, find out about Shapoorji pallonji’s exit from debt restructuring, also find out about income tax raids at Hero Motocorp. Business Term of the Day: Debt restructur ... Read more
In this episode, find out about Shapoorji pallonji’s exit from debt restructuring, also find out about income tax raids at Hero Motocorp. Business Term of the Day: Debt restructuring Read more
In this episode, find out about the drop in telecom subscriber base, also find out about Bain Capital picking up 25% stake in IIFL Wealth Business Term of the Day: Revolver Read more
In this episode, find out about the drop in telecom subscriber base, also find out about Bain Capital picking up 25% stake in IIFL Wealth Business Term of the Day: Revolver Read more
