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 Bajaj Finance is confident of riding the second wave; why all eyes are on Fed Reserve policy decision today Business Term of the Day: Monetary Polic ... Read more
In this episode, find out why Bajaj Finance is confident of riding the second wave; why all eyes are on Fed Reserve policy decision today Business Term of the Day: Monetary Policy Read more
In this episode, find out why Tata Motors is readying a Business Agility plan; why it’s a mixed start to corporate earnings Business Term of the Day: Profit Read more
In this episode, find out why Tata Motors is readying a Business Agility plan; why it’s a mixed start to corporate earnings Business Term of the Day: Profit Read more
In this episode, find out why HCL tech is moving its workload from India; why the Asian markets have opened higher Business Term of the Day: Dividend Read more
In this episode, find out why HCL tech is moving its workload from India; why the Asian markets have opened higher Business Term of the Day: Dividend Read more
In this episode, find out why RBI thinks the second wave is the biggest challenge to economic recovery; why global market are worried on news of Biden’s tax plan. Business Term of ... Read more
In this episode, find out why RBI thinks the second wave is the biggest challenge to economic recovery; why global market are worried on news of Biden’s tax plan. Business Term of the Day: economic growth Read more
In this episode, find out why Serum Institute is looking to hike the price of Covaxin; why investors are watching for the policy announcement by European Central bank later today? ... Read more
In this episode, find out why Serum Institute is looking to hike the price of Covaxin; why investors are watching for the policy announcement by European Central bank later today? and more to start your business day. Business Term of the Day: Qualified Institutional Placement (QIP) Read more
In this episode, find out why Nestle’s Q4 numbers is good news for the consumer industry; Maharashtra is yet again planning a lockdown. Are we ready this time? and more to start yo ... Read more
In this episode, find out why Nestle’s Q4 numbers is good news for the consumer industry; Maharashtra is yet again planning a lockdown. Are we ready this time? and more to start your business day. Business Term of the Day: Earnings per share Read more
In this episode, find out why Prime Minster has called for an emergency meeting with vaccine manufacturers; why Asian markets slipped in early trade? and more to start your busines ... Read more
In this episode, find out why Prime Minster has called for an emergency meeting with vaccine manufacturers; why Asian markets slipped in early trade? and more to start your business day. Business Term of the Day: Nasdaq Read more
In this episode, find out why HDFC Bank reported good numbers; why Bitcoin tumbled over the weekend? and more to start your business day. Business Term of the Day: API (Active P ... Read more
In this episode, find out why HDFC Bank reported good numbers; why Bitcoin tumbled over the weekend? and more to start your business day. Business Term of the Day: API (Active Pharmaceutical Ingredient) Read more
In this episode, find out why Wipro reported good numbers; why the US market touched record high after strong economic data? and more to start your business day. Business Term of ... Read more
In this episode, find out why Wipro reported good numbers; why the US market touched record high after strong economic data? and more to start your business day. Business Term of the Day: Cryptocurrency Read more
In this episode, find out why Wipro is set to announce a flat Q4 nos; why the US market slipped even as big banks reported stellar results? and more to start your business day. B ... Read more
In this episode, find out why Wipro is set to announce a flat Q4 nos; why the US market slipped even as big banks reported stellar results? and more to start your business day. Business Term of the Day: Asset management company Read more