The Reserve Bank of India (RBI) has granted approval to HDFC Bank, India’s largest private lender, to acquire up to a 9.5 percent stake in AU Small Finance Bank (AU SFB). The bank has one year from the approval date to finalize the acquisition, after which the approval will expire. In a filing, AU Small […]
HDFC Bank Gets RBI Approval to Acquire Stake in AU Small Finance Bank Read More »
Bajaj Finance, one of India’s leading non-banking financial companies (NBFCs), reported robust performance in the October-December quarter of FY25. The company achieved significant growth across key business metrics, according to its update filed on January 3. The AUM of the company soared 28 percent year-on-year to reach ₹3.98 lakh crore as of December 31, 2024,
Bajaj Finance Q3 Business Update: Strong Growth in AUM and Customer Base Read More »
The Indian government can impose restrictions on cross-border data transfers to foreign nations, entities, or individuals based on concerns related to national security, sovereignty, or privacy, as per the draft rules of the Digital Personal Data Protection (DPDP) Act. These draft rules, released on January 3, are open for public consultation until February 18. While
Govt Empowered to Restrict Cross-Border Data Transfers Under Draft DPDP Rules Read More »
RITES Limited shares are expected to remain in focus on January 3, 2025, following the company’s announcement of a significant order win from the Steel Authority of India Limited (SAIL) – Bhilai Steel Plant. The company has secured a work order worth Rs 69.78 crore for the repair of 43 WDS6 locomotives over a period
RITES Shares in Spotlight After Securing Rs 69.78 Crore Order from SAIL Read More »
Retail investors in India have made remarkable strides over the last decade, with their holdings as direct and indirect participants (via mutual funds) increasing more than tenfold, according to the National Stock Exchange’s (NSE) annual data highlight report. The total investor base in India crossed the 10-crore milestone in August 2024, with an additional one
Retail Investor Boom: Holdings Grow Over 10x in a Decade, NSE Reports Read More »
Goods and Services Tax (GST) collections in India rose to Rs 1.77 lakh crore in December 2024, marking a 7.3% increase compared to December 2023, when collections stood at Rs 1.65 lakh crore. This data, released on January 1, 2025, shows that GST collections have remained above Rs 1.7 lakh crore for ten consecutive months,
India’s GST Revenue Hits Rs 1.77 Lakh Crore in December, Rising 7.3% YoY Read More »
Rail Vikas Nigam Ltd. (RVNL) shares surged by 8% on the final trading day of 2024 after the company was declared the lowest bidder for two significant railway projects. This rally ended a nine-session losing streak for the stock. At 11:50 AM, RVNL shares were trading at Rs 427.4 on the NSE, marking a 4.7%
RVNL Shares Rise 8% After Securing Two Projects Worth Rs 541 Crore Read More »
ITC Limited announced the transfer of Rs 1,500 crore in cash and cash equivalents to ITC Hotels, the demerged hospitality entity, to support growth initiatives and address contingency requirements. This transfer, along with related assets and trademarks, will be executed before January 1, 2025, the effective date of the demerger. In an investor presentation on
ITC Demerger Update: Rs 1,500 Crore to Boost Growth of ITC Hotels Post Demerger Read More »
Shares of Adani Wilmar plunged nearly 7% on December 31 after Adani Enterprises announced its decision to exit the joint venture with Singapore’s Wilmar International. The Adani Group is selling its entire 44% stake in Adani Wilmar as part of a $2 billion deal. The sale price of Rs 305 per share, representing a 7%
Adani Wilmar Shares Drop 7% Following Adani Group’s Exit from FMCG Joint Venture Read More »
Mahindra Electric Automobile Limited (MEAL), the electric vehicle arm of Mahindra & Mahindra (M&M), has received Rs 650 crore from British International Investment Plc (BII) as the final tranche of its funding. This investment is part of BII’s earlier commitment to infuse Rs 1,925 crore into the company, aimed at accelerating the growth of Mahindra’s
