Bank credit grew by 13.29 per cent to Rs 123.81 lakh crore and deposits by 9.77 per cent to Rs 169.61 lakh crore in the fortnight ended on July 1, RBI data showed. In the fortnight ended June 2, 2021, bank advances stood at Rs 109.28 lakh crore and deposits at Rs 154.51 lakh crore, [...]
Cement maker ACC Ltd on Thursday reported a 60.07 per cent decline in consolidated net profit at Rs 227.35 crore in June 2022 quarter, due to rise in fuel costs and related inflationary impacts. The company, which follows January-December financial year, posted a profit of Rs 569.45 crore in April-June 2021, ACC said in a [...]
Telecom operator Bharti Airtel on Thursday said it has allotted over 7.1 crore equity shares to internet major Google for Rs 734 apiece. The allotment is part of Google's commitment to invest USD 1 billion with Airtel, which included equity investment in the company worth USD 700 million, about Rs 5,224 crore, Airtel said in [...]
Rating agency Icra on Thursday said it expects prices of domestic coal to remain high in the ongoing quarter as well given the supply challenges of the dry fuel during monsoon. The domestic e-auction premium on coal increased by over 400 per cent in May, thereby adversely impacting the cost structure of the base metal [...]
IT company Larsen and Toubro Infotech on Thursday posted a 27.6 per cent increase in consolidated net profit at Rs 633.5 crore in the first quarter ended June 30, 2022. It had registered a profit of Rs 496.3 crore in the same period a year ago, the company said in a regulatory filing. "We are [...]
S&P Global Ratings on Thursday said liquidity stress has reduced for Vedanta Resources Ltd as the company has addressed a large part of its debt maturities for the ongoing financial year. The rating agency also said that while Vedanta Resources still has some funds to raise, it has sufficient cash at its cash-rich India operating [...]
Benchmark indices Sensex and Nifty gave up early gains to close lower for a fourth straight session on Thursday due to selling in IT and banking shares amid weak global equities. The 30-share BSE benchmark settled 98 points or 0.18 per cent lower at 53,416.15. During the day, it hit a high of 53,861.28 and [...]
Maharashtra government has decided to reduce the value added tax (VAT) on petrol and diesel by Rs 5 and Rs 3 per litre respectively, Chief Minister Eknath Shinde said here on Thursday. The decision, to be implemented from Thursday midnight, would entail a burden of Rs 6,000 crore on the state exchequer. It will benefit [...]
The Enforcement Directorate on Thursday said it has arrested four people, including two promoters of Chennai-based Surana group, in a money laundering case linked to a reported Rs 3,986 crore worth bank loan fraud. Dinesh Chand Surana and Vijay Raj Surana, both managing directors cum promoters of Surana Industries Limited, Surana Power Ltd and Surana [...]
Private equity investments in proptech firms rose 35 per cent to USD 741 million last year as investors sought to tap huge opportunities amid rising use of technology in the realty sector, Housing.com said. Proptech firms that are providing solution in sales and marketing, and construction management got 69 per cent of the total funds. [...]
