Axis Bank on Tuesday reported a standalone net loss of Rs 1,387.78 crore for March quarter of 2019-20 as provisioning for bad loans and contingencies soared. The private sector lender had reported a net profit of Rs 1,505.06 crore in the same quarter of the previous financial year. That apart, the bank's board gave approval to raise Rs 35,000 crore by issue of debt Instruments.
As per news
report, S&P Global Ratings has affirmed long-term rating at BBB+ and maintained a stable outlook for the company.
L&T: The company on Tuesday issued and allotted 25,000 7.70% Rated Listed Unsecured Redeemable Non-Convertible Debentures of Rs 10 lakh each aggregating to Rs 2,500 crore which will mature on April 28, 2025. The Debentures are proposed to be listed on the National Stock Exchange of India.
Biocon: Biocon Ltd. and Mylan N.V.on Tuesday announced the launch of Fulphila, a biosimilar to Neulasta (pegfilgrastim), in Canada. Fulphila is approved by Health Canada to decrease the incidence of infection, as manifested by febrile neutropenia, in patients with non-myeloid malignancies receiving myelosuppressive anti-neoplastic drugs, Bengaluru- headquartered Biocon said in a statement.
IDFC First Bank: The bank's board is scheduled to meet on Friday, May 01, 2020, to consider fund raising through preferential issue.
Hexaware: The company is slated to release its March quarter results later in the day.
Public sector firm NLC India has said it has started the production of coal for the first time from two mines in Odisha that were allocated to it in 2016. READ MORE