IndiGo: Minority shareholders of IndiGo, the largest airline in the country by market share, have approached the board of directors, alleging operational mismanagement in the company, said a Business Standard report citing sources.
Jet Airways: The income-tax (I-T) department is set to appoint an independent auditor to conduct a special audit of the Jet Airways books in connection with the commission paid by the airline to its Dubai-based group entities for allegedly evading Rs 850 crore in taxes, Business Standard reported.
Mindtree: Engineering and construction major L&T on Thursday crossed the critical stake holding mark of 26 per cent in Mindtree, making it the single-largest shareholder in the Bengaluru-headquartered IT services firm.
The Reserve Bank of India (RBI) on Thursday asked finance companies with asset size more than Rs 5,000 crore to appoint a chief risk officer (CRO), who will function ‘independently to ensure the highest standards of risk management.'
ICICI Pru Life Insurance has reduced its stake in Cyient from 5.02 per cent to 2.99 per cent.
According to a news
report by The Economic Times, the company is in talks with US-based Oaktree Capital on offloading wholesale real estate loans worth Rs 17,000-18,000 crore.
OMCs: Oil prices edged higher on Friday, extending gains into a fourth session on Middle-East tensions. Brent closed up 1.2 per cent on Thursday when prices hit a high of $73.36 a barrel - the highest since April 26.
Blue Dart: The company reported 9 per cent YoY growth in revenue to Rs 779 crore for the quarter ended March 2019. EBITDA margins contracted by 420 bps YoY to 3.7 per cent while PAT de-grew 62 per cent to Rs 13 crore.
Bajaj Finserv: Bajaj Finserv on Thursday posted a 32 per cent rise in consolidated net profit at Rs 839 crore for the March quarter of financial year 2018-19.
Foreign brokerage CLSA has retained buy rating on the stock wirth the target price of Rs 1,500 from Rs 1,600 earlier.
Punjab National Bank:
As per news
reports, PNB has terminated the share purchase agreement (SPA) entered into with Varde Holdings for the sale of its housing finance arm.
Minda Industries (MIL) on Thursday reported a decline of 46 per cent in its consolidated net profit at Rs 74 crore for the fourth quarter ended March 2019.
JK Tyre: JK Tyre & Industries May 16 reported a 78.81 per cent decline in consolidated net profit at Rs 33.66 crore for the quarter ended March 2019 due to high raw material costs and expenses.
Praj Industries has informed BSE that the company's board has proposed a final dividend of Rs 1.62 per equity share.