Jammu and Kashmir Bank, which has an exposure of nearly Rs 250 crore in the Adani Group, on Friday said the bank investors have nothing to worry as its loans to the embattled business group are secured. "Our loans to Adani Group are secured against the assets of the projects that were financed by JK [...]
Cement maker The India Cements Ltd has drawn up plans to refurbish its old manufacturing facilities at an estimated outlay of Rs 1,500 to Rs 1,600 crore, its Vice Chairman and Managing Director N Srinivasan said on Friday. The funds to undertake the refurbishment would be met through internal accruals and the firm has roped [...]
TV Today Network Ltd on Friday reported a decline of 55.08 per cent in its consolidated net profit at Rs 27.62 crore for the third quarter ended December 31, 2022. The company had reported a net profit of Rs 61.50 crore in the October-December period a year ago, TV Today Network said in a BSE [...]
The country's largest lender SBI on Friday said its overall exposure to the Adani Group is at 0.88 per cent of the book or around Rs 27,000 crore. SBI chairman Dinesh Khara said the bank does not envisage the embattled ports-to-mining group facing any challenge to service its debt obligations and stressed that SBI has [...]
Public sector lender Bank of Baroda on Friday said it has reduced exposure to the embattled Adani Group entities over the last two years, and has no concerns on asset quality issues with the conglomerate. The bank's managing director and chief executive Sanjiv Chadha told reporters that the bank's overall exposure to the ports-to-media conglomerate's [...]
Embassy Office Parks REIT on Friday said the proposal to tax income distributed by business trusts in the form of debt repayments at the hands of unitholders has created some uncertainties in the market, and the industry is considering making a presentation to the government on the success of this investment vehicle. The proposal impacts [...]
Country's largest lender State Bank of India on Friday reported a 62 per cent growth in its net profit at Rs 15,477 crore during the quarter ended December 2022. On a standalone basis, the lender's net post-tax profit grew to Rs 14,205 crore during the October-December 2022 period, which was up from Rs 8,432 crore [...]
Tata Power on Friday said its consolidated net profit almost doubled to Rs 1,052.14 crore in the quarter ended December 2022 compared to a year ago, mainly due to higher revenues. The consolidated net profit of the company was Rs 551.89 crore in the quarter ended on December 31, 2021, a BSE filing showed. Total [...]
InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Friday reported a steep rise in profit at Rs 1,422.6 crore in the three months ended December 2022, primarily fuelled by robust demand for air travel. The company had a Profit After Tax (PAT) of Rs 129.8 crore in the same period a year [...]
Equity benchmarks rallied over 1 per cent on Friday due to heavy buying in banking and financial counters amid mixed trend in the global markets. The 30-share BSE benchmark Sensex zoomed 909.64 points or 1.52 per cent to settle at 60,841.88. During the day, it jumped 973.1 points or 1.62 per cent to 60,905.34. The [...]
