SBI Card: Private equity (PE) major Carlyle plans to offload 5.1 per cent take in SBI Cards and Payment Services on Friday. A total of 48 million shares of the credit card company will be on offer in the range between Rs 1,002 to Rs 1,041.3 per share --- a discount of 1 per cent and 4.7 per cent to the last closing price of Rs 1,051.7.
Power Grid: Power Grid
Corporation posted a 6.4% YoY increase in its consolidated net profit at Rs 3,526.23 crore for the fourth quarter of FY21. The figure stood at Rs 3,313.47 crore in same period last year.
Max Ventures Investment Holdings, promoter of Max Financial
Services, on Thursday divested the company's shares worth Rs 783 crore through an open market transaction. Meanwhile, Government of Singapore picked up 60,13,487 shares of the company at Rs 1,000 apiece.
Coal India: Coal India Limited (CIL) is debating on hiking coal price for the regulated sector and may take a call soon, a senior official said. CIL Chairman Pramod Agarwal during an earnings call said that the company is in "serious discussion" about raising coal price and a decision may be taken soon.
The inter-ministerial group (IMG) will meet on Friday to finalise the draft request for proposal (RFP) and share purchase agreement (SPA) for privatisation of BEML.
The document will give the shortlisted bidders clarity on the liabilities they will have to take on board. READ HERE
J&K Bank: State-owned Jammu & Kashmir Bank on Thursday reported a net profit of nearly Rs 316 crore for the January-March 2021 quarter, and said it is the highest quarterly profit since March 2014. The lender had posted a net loss of Rs 294.10 crore in the corresponding quarter of the previous financial year.
Hindustan Media Ventures: The firm reported a 20.1 per cent YoY decline in its consolidated net profit to Rs 22.07 crore for the fourth quarter ended March 31.
Tube Investments of India: The company reported standalone net at Rs 129.12 crore for the quarter ending March 31, 2021 as against Rs 73.55 crore during corresponding quarter previous year.
SBI: State Bank of India (SBI) has invited bids for two NPA accounts with outstanding dues of nearly Rs 60 crore. The bank has put up for sale the accounts of N S Engineering Projects, with loan outstanding of Rs 36.98 crore, and Chinteshwar Steels Pvt Ltd, which owes Rs 22.72 crore to SBI.
Natco Pharma: Drug firm Natco Pharma said its consolidated net profit declined by 43 per cent YoY to Rs 53 crore for the fourth quarter ended March 31, 2021. Total income during the fourth quarter stood at Rs 360 crore, down from Rs 477 crore in the fourth quarter of the financial year 2019-20.
Novartis India: Pharmaceuticals firm Novartis India reported a 43 per cent YoY increase in net profit at Rs 9.7 crore for the fourth quarter ended March 31, 2021.
HDFC Bank: India's largest private sector lender said network outages that led to a regulatory ban on new credit card sales were not due to transaction volumes, and affirmed that it continues to stay in touch with the RBI for restarting the services but giving a timeline for it will be difficult.
Power Mech Projects: The company posted over 14 per cent YoY rise in its consolidated net profit at Rs 36.08 crore in March ended the quarter on the back of higher revenues.
Adani Transmission: The company has incorporated a wholly-owned subsidiary called ATL HVDC for transmission, distribution and supply of power and other infrastructure services.
Khadim India: The company reported consolidated profit at Rs 11.52 crore in Q4FY21 as against a loss of Rs 19.87 crore in Q4FY20.
Mangalam Organics: CRISIL has reaffirmed long term rating for various credit facilities of the company at 'A-' and upgraded outlook to Positive from Stable.
Religare Enterprises: The company is is considering an initial public offer (IPO) of up to Rs 2,000 crore for its health insurance subsidiary Care Health Insurance, where it plans to issue fresh shares, as per a media report.
ITDC: India Tourism Development Corporation (ITDC) has signed a pact with the Central Industrial Security Force (CISF) to provide its online travel solution, according to a company statement.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.