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 why IDFC Bank’s V Vaidyanathan has gifted 9 lakh shares to his staff, also find out why Bharti Airtel is looking to raise Rs 5000 crore through rupee bond ... Read more
In this episode, find out why IDFC Bank’s V Vaidyanathan has gifted 9 lakh shares to his staff, also find out why Bharti Airtel is looking to raise Rs 5000 crore through rupee bonds. Business Term of the Day: Dollar rupee swap Read more
In this episode, find out why Indigo’s Rakesh Gangwal has stepped down from the board, also find out why Amazon and Reliance are eyeing the telecast rights to IPL Read more
In this episode, find out why Indigo’s Rakesh Gangwal has stepped down from the board, also find out why Amazon and Reliance are eyeing the telecast rights to IPL Read more
In this episode, find out why Infosys is targeting a 20% jump in annual revenue in FY22, also find out why Moody’s changed outlook on Vedanta Resources to negative. Business Term o ... Read more
In this episode, find out why Infosys is targeting a 20% jump in annual revenue in FY22, also find out why Moody’s changed outlook on Vedanta Resources to negative. Business Term of the Day: options and futures. Read more
In this episode, find out why SEBI took a U-turn on splitting CMD roles, also find out why CLSA has upgraded HDFC Business Term of the Day: Forensic audit Read more
In this episode, find out why SEBI took a U-turn on splitting CMD roles, also find out why CLSA has upgraded HDFC Business Term of the Day: Forensic audit Read more
In this episode, find out why Cipla promoters are looking to sell stake through block deal, also find out why Spicejet results were postponed for a day. Business Term of the Day: ... Read more
In this episode, find out why Cipla promoters are looking to sell stake through block deal, also find out why Spicejet results were postponed for a day. Business Term of the Day: Audit Committee. Read more
In this episode, find out why lenders to Future Retail have agreed to halt the sale of assets, also find out why Eicher Motors will announce a fall in profit in Q3 Business Term of ... Read more
In this episode, find out why lenders to Future Retail have agreed to halt the sale of assets, also find out why Eicher Motors will announce a fall in profit in Q3 Business Term of the Day: Debt Restructuring Read more
In this episode, find out why RBI Governor warned Indians against private cryptocurrencies, also find out why US markets are getting ready for a rate hike soon. Business Term of t ... Read more
In this episode, find out why RBI Governor warned Indians against private cryptocurrencies, also find out why US markets are getting ready for a rate hike soon. Business Term of the Day: Variable Reverse Repo Auction Read more
In this episode, find out why US-based private equity firm Cerebrus is looking to buy bad loans from Yes Bank, also find out why Bharti Airtel is looking to raise tariffs this year ... Read more
In this episode, find out why US-based private equity firm Cerebrus is looking to buy bad loans from Yes Bank, also find out why Bharti Airtel is looking to raise tariffs this year Business Term of the Day: Open market operation (OMO) Read more
In this episode, find out why Vedanta scrapped its plans to rejig its corporate structure, also find out why oil prices rose in trade. Business Term of the Day: Liquidity Adjustmen ... Read more
In this episode, find out why Vedanta scrapped its plans to rejig its corporate structure, also find out why oil prices rose in trade. Business Term of the Day: Liquidity Adjustment Facility (LAF) Read more
In this episode, find out why Hero Fincorp has raised Rs 2000 cr capital, also find out why US markets ended lower Business Term of the Day: Nominal interest rate & actual int ... Read more
In this episode, find out why Hero Fincorp has raised Rs 2000 cr capital, also find out why US markets ended lower Business Term of the Day: Nominal interest rate & actual interest rate Read more
