Rs

Bank of Baroda posts Q4 net profit of Rs 506 cr; stock ends 2% higher

Financial institution of Baroda on Tuesday noted a standalone internet earnings of Rs 506.fifty nine crore for the March 2020 quarter.

The lender had posted a internet earnings of Rs 991.37 crore in the January-March quarter of the preceding fiscal finished March 2019.

The figures for the quarter are not comparable calendar year-on-calendar year because of to amalgamation of Vijaya Financial institution and Dena Financial institution into it with impact from April 2019.

The Governing administration of India through a gazette notification dated January two, 2019 permitted the scheme of amalgamation between Financial institution of Baroda, Dena Financial institution and

Read More

Mukesh Ambani keeps salary capped at Rs 15 cr for 12th straight year

Richest Indian Mukesh Ambani has kept his once-a-year income from his flagship agency Reliance Industries capped at Rs fifteen crore for twelfth yr on the trot in the fiscal finished March 31 and has thereafter determined to forego the entire remuneration in look at of the Covid-19 pandemic.

Ambani has kept income, perquisites, allowances and fee together at Rs fifteen crore because 2008-09, forgoing more than Rs 24 crore per annum.

This is at a time when remunerations of all whole-time administrators of the enterprise, like cousins Nikhil and Hital Meswani, noticed a handsome raise in the fiscal yr finished

Read More

KKR picks up 2.32% stake in Mukesh Ambani’s Jio Platforms for Rs 11,367 cr

Jio Platforms, the digital services subsidiary of Reliance Industries (RIL) is selling a two.32 per cent stake for Rs eleven,367 crore to KKR. The transaction, declared on Friday, values Jio Platforms at an equity worth of Rs four.ninety one trillion and organization valuation of Rs 5.16 trillion. This valuation is comparable to the discounts declared above the previous two months with Vista Equity Companions and General Atlantic. The cumulative investments of the 5 discounts declared so far is Rs seventy eight,562 crore for a seventeen.one per cent stake. For KKR, which has investments in Avendus

Capital, Bharti Infratel, Espresso Working

Read More

Cyclone Amphan LIVE: PM announces Rs 1000 cr for WB, Odisha gets Rs 500 cr

Cyclone Amphan Reside updates: The central authorities will give West Bengal Rs 1,000 crore and Rs 500 crore to Odisha as interim support for the problems caused by Cyclone Amphan, mentioned Prime Minister Narendra Modi on Friday soon after a go to to the two states.
Households of these killed will get Rs two lakh each and every as ex-gratia and the injured will get Rs 50,00, he mentioned soon after traveling above flooded parts of West Bengal. Main Minister Mamata Banerjee mentioned eighty individuals have died in the cyclone and requested Modi to treat it as a countrywide
Read More

Yes Bank crisis: Indiabulls Housing says bank owes it Rs 662 cr in bonds


Indiabulls Housing Finance on Sunday said Yes Bank owes Rs 662 crore in the form of bonds to the company and it has no term loans outstanding from the lender.


“We wish to inform that Yes Bank owes to Indiabulls Housing Finance Rs 662 crore via additional tier 1 (AT-1) bonds,” it said in a regulatory filing.



The investments in AT-1 bonds of Yes Bank were made in 2017, as part of its treasury management of over Rs 20,000 crore of cash and when the bank was worth over USD 10 billion in value,

Read More