Mumbai, Aug 1 (PTI) The Reserve Bank gave its nod for the merger of the troubled New India Co-operative Bank Ltd (NICBL) with Saraswat Co-operative Bank. Acting on a request from both the lenders, who approached the central bank after clearance from their shareholders, RBI sanctioned the Scheme of Amalgamation in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act 1949, as per an official statement. Saraswat Bank will take ov...Read More
Chennai, August 1: Actor, music director and producer G V Prakash Kumar, who has won the National Award for Best Music Direction (Songs) for the Tamil, Telugu bilingual film Vaathi, has called the honour "a blessing for the second time". Taking to his X timeline soon after the 71st National Awards were announced, G V Prakash expressed his gratitude to the jury and the selection committee of the National Awards and the entire team of Vaathi. G V Prakash wrote, "A blessing for the second time. I'...Read More
Mumbai (Maharashtra) [India], August 1 (ANI): Reliance Infrastructure Limited has denied allegations of fund diversion and said it has informed stock exchanges that it had publicly disclosed the company financial statements. The Enforcement Directorate (ED) has summoned industrialist Anil Ambani for questioning in connection with an ongoing investigation into an alleged Rs 17,000-crore loan fraud case, official sources said on Friday. Anil Ambani has been directed to appear before investigator...Read More
Mumbai (Maharashtra) [India], August 1 (ANI): Reliance Infrastructure Limited has denied allegations of fund diversion and said it has informed stock exchanges that it had publicly disclosed the company's financial statements. The Enforcement Directorate (ED) has summoned industrialist Anil Ambani for questioning in connection with an ongoing investigation into an alleged Rs 17,000-crore loan fraud case, official sources said on Friday. Also Read | Indian Embassy in Dublin Issues Advisory Amid...Read More
New Delhi, August 1: A Look Out Circular (LOC) was issued on Friday against Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani, on the request of the Enforcement Directorate (ED), in connection with an alleged Rs 17,000-crore loan fraud case. Anil Ambani has been asked to appear at the ED headquarters in the national capital on August 5, according to people familiar with the matter. Last week, the agency carried out searches across 35 locations in Mumbai linked to Anil Ambani's Reliance Gr...Read More
New Delhi, Jul 20 (PTI) Coworking firm Indiqube Spaces Ltd, which will soon launch an initial public offering (IPO), has posted a net loss of ₹139.61 crore during the last fiscal on higher expenses. The net loss of Indiqube Spaces, which provides managed office spaces to corporates, stood at ₹341.50 crore during the 2023-24 fiscal. Its total income rose to ₹1,102.93 crore in 2024-25 from ₹867.66 crore in the preceding year, according to its red herring prospectus (RHP) filed with Sebi. Indiqu...Read More
Aurum PropTech is the first public listed company in India to receive a registration certificate from the Securities and Exchange Board of India (SEBI) as a Small and Medium Real Estate Investment Trust (SM REIT) under the name AMSA SM REIT Investment Trust (AMSA). AMSA operates with a retail-first mindset, robust asset selection process, and a deep commitment of regulatory compliance to make real estate investing more accessible, credible, and rewarding. AMSA is poised to lead the way in provi...Read More
AceVector, the parent company of Snapdeal, plans to launch an IPO. The company has submitted draft papers to Sebi. AceVector also operates Unicommerce and Stellar Brands. Unicommerce became a public company in 2024. AceVector has opted for confidential pre-filing. This allows flexibility in IPO plans. Several other companies have also chosen this route. The pre-filing route offers greater flexibility. AceVector, parent company of e-commerce marketplace Snapdeal, has confidentially filed draft p...Read More
Bengaluru: The Karnataka Commercial Tax Department has once again issued a clarification regarding the recent tax notices sent to bakeries, condiments, and tea stalls in Bengaluru. Following earlier backlash, the department had stated that traders with annual turnover below ₹1.5 crore can opt for the Composition Tax Scheme and pay only 1% tax, offering significant relief. Now, in a press release, the department reiterated that traders who have received notices should visit their respective tax ...Read More
Mumbai, July 18: Reliance Industries on Friday reported a strong 78 per cent year-on-year (YoY) jump in its consolidated net profit for the first quarter (Q1) of FY26, reaching Rs 26,994 crore. The company's revenue from operations also rose 5.3 per cent to Rs 2,48,660 crore compared to Rs 2,36,217 crore in the same quarter previous year, according to its stock exchange filing. The company's operating performance also improved significantly. Its earnings before interest, taxes, depreciation and...Read More
WeWork India gets the green light from SEBI for its initial public offering. The IPO involves an offer for sale of over 43 million equity shares. Embassy Buildcon LLP and 1 Ariel Way Tenant Limited are the selling shareholders. JM Financial and ICICI Securities are among the book running lead managers. WeWork India Management Limited (WeWork India), one of India's leading flexible workspace operators, has received approval from the Securities and Exchange Board of India (SEBI) for its initial p...Read More
NEW DELHI/BATHINDA: The Directorate of Enforcement (ED) on Friday conducted searches at 22 de-addiction centres across Punjab, including in Chandigarh, Barnala and Ludhiana, after its investigation revealed illegal sale of drugs by these centres. The agency also searched a premise in Mumbai linked to the accused.Dr Amit Bansal, who runs these 22 centres, is prime accused in the case, sources said. Bansal, against whom Punjab Police has registered multiple FIRs, is alleged to be engaged in illega...Read More
MUMBAI: Private sector lender Axis Bank announced on Friday that its board has approved the appointment of Neeraj Gambhir as a whole-time director, designated as executive director, effective August 4. Gambhir's appointment will be for a period of three years, subject to approval from the shareholders and the Reserve Bank of India. Gambhir, 52, currently serves as group executive-treasury, markets and wholesale banking products at Axis Bank, a role he has held since May 2020. He brings over th...Read More
New Delhi: National Company Law Appellate Tribunal (NCLAT), Friday, stayed the initiation of the corporate insolvency resolution process (CIRP) against Reliance Infrastructure as it was informed that the company had settled the due amount. NCLAT also stayed the National Company Law Tribunal (NCLT) order, which admitted Reliance Infra into insolvency over unpaid debt of around ₹90 crore. NCLT, in May, concluded that Reliance Infra was in default of payment of ₹90 crore to Dhursar Solar Power Pr...Read More
New Delhi, Jul 18 (PTI) Delhi Art, Culture and Tourism Minister Kapil Mishra on Friday visited the Prime Ministers Museum and Library (PMML) at Teen Murti Marg, with singer and music director Himesh Reshammiya accompanying him. The museum, which showcases the lives and contributions of India's former prime ministers, features 14 high-tech galleries equipped with interactive and immersive exhibits, including a 6D helicopter ride, virtual photo booths, a handwriting robot, a time machine and a ki...Read More
Mumbai, July 18 (SocialNews.XYZ) Sify Technologies Limited, a leading Indian ICT services provider, on Friday reported a significant rise in its net loss for the first quarter of the financial year. The company posted a loss after tax of Rs 38.9 crore, compared to a loss of Rs 5.2 crore in the same quarter previous year, according to its stock exchange filing. The company attributed the higher loss to increased depreciation, rising interest costs, and higher manpower expenses. Despite the wid...Read More
New Delhi, Jul 18 (PTI) The central drugs laboratories have found 55 samples manufactured by various firms in June to be "not of standard quality", health ministry officials said on Friday. Further, state drugs testing laboratories have identified 130 drugs samples as 'not of standard quality', they said. According to routine regulatory surveillance activity, the list of 'not of standard quality' and spurious drugs are being displayed on the Central Drugs Standard Control Organisation (CDSCO) ...Read More
Mumbai, July 18 (SocialNews.XYZ) Reliance Industries on Friday reported a strong 78 per cent year-on-year (YoY) jump in its consolidated net profit for the first quarter (Q1) of FY26, reaching Rs 26,994 crore. The company's revenue from operations also rose 5.3 per cent to Rs 2,48,660 crore compared to Rs 2,36,217 crore in the same quarter previous year, according to its stock exchange filing. The company's operating performance also improved significantly. Its earnings before interest, taxes,...Read More
Mumbai, July 18 (SocialNews.XYZ) Indian Overseas Bank (IOB) on Friday reported a strong 75.6 per cent year-on-year (YoY) growth in its net profit for the June quarter (Q1 FY26), reaching Rs 1,111.04 crore. This is a sharp increase compared to Rs 632.81 crore profit the bank earned in the same quarter previous year (Q1 FY25), according to its stock exchange. The bank's total income for the quarter rose 17 per cent to Rs 8,866.47 crore, which includes Rs 1,480.92 crore earned as other income. N...Read More
New Delhi: Dilip Piramal, Chairman of VIP Industries, said on Monday that his family's younger generation isn't interested in running the business. This came right after the company told stock exchanges that promoter group entities are planning to sell a 32 percent stake to a group of private equity investors and others. "We are a family-owned business, and the next generation is not very keen on running it," Piramal told NDTV Profit. "In all our 53 years of existence, VIP has been the market ...Read More
New Delhi, Jul 17 (PTI) Adani Group has sold a 20 per cent stake in AWL Agri Business Ltd (formerly known as Adani Wilmar Ltd) to Wilmar International, Singapore, for Rs 7,150 crore, as part of its decision to exit the FMCG business and focus on the infrastructure vertical. As per the regulatory filing on Thursday, Adani Commodities LLP (ACL), a subsidiary of Adani Enterprises, will soon sell the residual 10.42 stake in AWL Agri Business Ltd, leading to a complete exit from the FMCG business. ...Read More
Mumbai, July 17 (SocialNews.XYZ) Dairy company Heritage Foods Limited on Thursday reported a sharp decline in net profit for the first quarter of FY26, as the company posted a net profit of Rs 40.5 crore for the April-June quarter, down 30.7 per cent from Rs 58.4 crore reported in the same period previous year (Q1 FY25). The fall in profit came despite a 10.1 per cent year-on-year (YoY) growth in revenue, which rose to Rs 1,136.7 crore from Rs 1,032.6 crore in a year-ago period, according to it...Read More
New Delhi [India], July 17: The world of marketing is undergoing a seismic shift, and it powered by artificial intelligence. As AI-enabled marketing tools become more intelligent and widely adopted, the very structure of marketing teams is beginning to change. Routine tasks that once required human input are now being executed faster, more accurately, and at scale by smart systems. According to Nipun Taneja, a performance marketing veteran with over $100 million in managed ad spend, the future ...Read More
Mumbai, July 17: Tech giant Wipro on Thursday reported an 11.1 per cent increase in its consolidated net profit for the April-June quarter (Q1) of FY26, reaching Rs 3,336.5 crore, compared to Rs 3,003 crore in the same quarter previous year. The company's consolidated revenue from operations stood at Rs 22,134.6 crore, showing a marginal increase from Rs 21,963.8 crore recorded during the same period previous year, according to its stock exchange filing. Wipro also declared an interim dividend ...Read More
Mumbai, July 17 (SocialNews.XYZ) Tech giant Wipro on Thursday reported an 11.1 per cent increase in its consolidated net profit for the April-June quarter (Q1) of FY26, reaching Rs 3,336.5 crore, compared to Rs 3,003 crore in the same quarter previous year. The company's consolidated revenue from operations stood at Rs 22,134.6 crore, showing a marginal increase from Rs 21,963.8 crore recorded during the same period previous year, according to its stock exchange filing. Wipro also declared an ...Read More
Ahmedabad (Gujarat) [India], July 17 (ANI): Adani has executed the sale of a 20 per cent stake in AWL Agri Business Limited to Wilmar International, Singapore, with the deal size valued at Rs 7,150 crore, according to a stock exchange filing by Adani Enterprises. The stake sale was executed at Rs 275 per share. Also Read | Assam: 1 Killed, Several Injured in Clash Between Evicted People, Security Forces in Paikan Reserve Forest in Goalpara District (Watch Videos). In December 2024, Adani Comm...Read More
New Delhi, Jul 17 (PTI) HDFC Asset Management Company (AMC) on Thursday reported a 24 per cent jump in profit after tax at Rs 748 crore in the three months ended June 2025. In comparison, the asset management firm had posted a Profit After Tax (PAT) of Rs 604 crore in the same quarter preceding fiscal. The company's revenue from operations increased 25 per cent to Rs 968 crore in the first quarter ended June 30, 2025, from Rs 775.2 crore in the same quarter preceding fiscal year, HDFC AMC said...Read More
The shares of Coffee Day Enterprises sharply surged 10 percent to hit the upper circuit on July 15 after data on the latest shareholding pattern showed that veteran investor Dolly Khanna has bought some stake in the firm. Khanna held 32.78 lakh shares, representing 1.55 percent stake in the parent company of popular chain Café Coffee Day, according to BSE data showing the firm's shareholding pattern as at the end of the April-June quarter. Coffee Day Enterprises shares remained locked in the u...Read More
New Delhi, Jul 15 (PTI) Property Share Investment Trust is set to mobilise Rs 473 crore through the initial public offering (IPO) of PropShare Titania, its second Small and Medium Real Estate Investment Trust (SM REIT) scheme, with the issue opening on July 21. The public issue will conclude on July 25. The price band has been set at Rs 10 lakh-10.6 lakh per unit, Property Share Investment Trust said in a statement. The IPO comprises a fresh issue of Titania units with no Offer For Sale (OFS) ...Read More
New Delhi: Former Indian captain Anil Kumble said the team management should motivate Jasprit Bumrah to play in the last two Test matches. India suffered a 22-run loss in the Lord's Test, where the team was all-out for 170 chasing a target of 193 runs. With this defeat, England took a 2-1 lead in the five-match series. The BCCI had earlier announced that Bumrah would only play three Tests on the England tour to manage his workload. However, head coach Gautam Gambhir rested him in the second Tes...Read More