FE Bureau

It’s raining deals: PE/VC investments in March at all-time high of $7 billion

The number of deals in March increased by 44% to 89 against the same period last year.

PE/VC investments, Private Equity Monthly Deal Tracker, PIPE deals, public equity deals News

Tata Steel beats analyst estimates on net profit

It reported a consolidated net profit of Rs 2,295 crore for January-March 2019 on the back of higher volumes.

Tata Steel, Tata Steel net profit, UK pension scheme, Bhushan Steel, Ebitda, Edelweiss Securities News

Maruti Suzuki’s net profit drops 5% at Rs 1,795 crore

Maruti, the country’s largest passenger vehicle manufacturer, was also able to beat estimates with regard to revenue from operations, which grew by 1.4% y-o-y to Rs 21,459.4 crore with sales volume de-growth of 0.7% on a y-

Maruti Suzuki, Maruti Suzuki net profit, BSE, Maruti Suzuki India, Maruti Suzuki shares News

Contempt plea against IL&FS Financial Services ex-CEO Ramesh Bawa

The NCLT in January relaxed these conditions, allowing Bawa and the others to withdraw up to Rs 2 lakh from any bank account after informing the tribunal.

IL&FS Financial Services, Ramesh Bawa, NCLT, Amitabh Chaudhry,  Axis Bank, IL&FS group News

IFC looks to provide $43.3 million debt financing to Hero Future Energies for solar farm business

HFE’s step-down subsidiary Clean Solar Power (CSP) has proposed the development, construction, operation and maintenance of a 250 MW solar farm located in Bhadla, Rajasthan.

IFC, World Bank, Hero Future Energies Global, Clean Solar Power, HFE Group, renewable energy News

Non-life insurers’ gross direct premium grows 13% in FY19

New India Assurance, the country’s biggest general insurance company, continued its dominant position with a market share of 14.06%, while in the private sector ICICI Lombard remained on the top with a market share of 8.52%

Non-life insurers, General insurance, ICICI Lombard, Insurance Regulatory and Development Authority of India, money News

After hours: Bhisham Bhateja, Co-founder & COO, The Man Company

The best part about my job is that it is highly challenging.

Bhisham Bhateja, Co founder & COO, The Man Company, After hours News

Shriram City Union Finance net profit grows tenfold

Net interest income (NII) grew 8.8% to Rs 3,799 crore in FY19 from Rs 3,493 crore in FY18.

Shriram City, Shriram City Union Finance, financial instruments, impairment expenses, industry news

Axis Bank sees opportunities in terms of refinance transactions

In this quarter is, we have taken a 25% provision on that parcel through profit and loss and the remaining 75% we have provided for through reserves in consultation with the RBI.

Jairam Sridharan, Axis Bank, refinance transactions, IL&FS, banking News

Axis Bank swings to profit in Q4 on net interest income growth

At the end of 31 March 2019, the bank’s gross and net NPAs stood at 5.26% and 2.06% against 5.75% and 2.36% as of 31 December 2018, respectively.

Axis Bank, Axis Bank profits, net interest, income growth, private lender, market news

RBI allows foreign investors to buy municipal bonds

The limits for investing in these municipal bonds are to be set within the limits for FPI investment in state development loans (SDLs). The limits set for SDLs amount to 2% of outstanding securities.

fpi, Reserve Bank of India, foreign portfolio investors, non–resident investors, voluntary retention route, MARKET NEWS

British entrepreneur with no operations claims to have bid for Jet

An unknown British entrepreneur took to Twitter proclaiming his interest in taking control of Jet Airways and claiming to have submitted a revival proposal to State Bank of India (SBI) on Wednesday. On its part, Jet Airways s

jet airways, State Bank of India, SBI Caps, Atmosphere Intercontinental Airlines, Rajnish Kumar, Boeing 777-300ER News

Sexual harassment charges against CJI: SC vows to unravel plot to ‘frame’ Ranjan Gogoi

Three-member special bench takes serious note of affidavit filed by lawyer, summons CBI, IB

Sexual harassment charges, CJI, Ranjan Gogoi, Supreme Court, Utsav Singh Bains, RF Nariman, Attorney General KK Venugopal  News

Review of RBI reserves: Jalan to submit report by June

“The report is not finalised yet. More meetings will take place. The panel is expected to finalise its report by May-June,” Jalan said on Wednesday after a meeting of the committee.

Economy News

Mining sam: ED attaches Rs 40 crore assets of Alagiri’s son

In a statement here, the ED said it has initiated an investigation under the PMLA against Olympus Granites, Madurai to identify the crime proceeds on the basis of the FIR and charge sheet filed by the Tamil Nadu Police agains

Mining sam, Enforcement Directorate, PMLA, MK Alagiri, Tamil Nadu Police,  News

Bharti Infratel Q4 net profit flat at Rs 608 crore as industry consolidates

The company's revenue at Rs 3,600 crore was down 2% from last year's Rs 3,662 crore.

Bharti Infratel Q4, Bharti Infratel Q4 net profit, Vodafone, Idea, Akhil Gupta News

UltraTech Cement Q4 net profit at Rs 1,014 crore

The company’s results for the quarter and the financial year ended March 2019 are not comparable with previous financial year owing to the merger of Binani Cement into the company, which has now been named as UltraTech Nath

UltraTech Cement, UltraTech Cement Q4 net profit, Binani Cement, UltraTech Nathdwara Cement, Ebitda, BSE,  UltraTech Cement share News

Madras High Court lifts ban on TikTok

The bench of justices N Kirubakaran and SS Sundar lifted the ban after hearing submissions made by TikTok and amicus curiae Arvind Datar.

Madras High Court, TikTok, Supreme Court, Chinese social media app, Chief Justice Ranjan Gogoi, ByteDance News

Indiabulls Real Estate shares surge 13% after firm decided to sell London asset for £200 million

In its quarter-ended March investor presentation, Indiabulls Real Estate said it has decided to focus only on Mumbai and NCR markets.

Indiabulls Real Estate, Indiabulls Real Estate shares, NCR markets, Lakshmi Vilas Bank, Indiabulls Housing Finance News

M&M Financial Services net rises 86%

The vehicle finance lender had a write-back in provisions amounting to Rs 11.4 crore for the quarter ended March 2019.

Mahindra & Mahindra Financial Services, NPA, vehicles finance lender  News

Indiabulls Housing Finance Q4 net falls 7%

The lender’s asset quality remains within stable levels but deteriorated by 11 basis points (bps) q-o-q with gross non-performing assets (NPA) at 0.88%.

Markets News

IOB to reduce loss-making branches

Karnam Sekar was MD & CEO at Dena Bank from September 2018.

Indian Overseas Bank, Karnam Sekar, Dena Bank, SBI, iob bank News

FMPs worth Rs 1,200 crore invested in stressed firms to mature by June

Credit Suisse, in its latest report, said mutual funds have exposure of around Rs 2,200 crore in the group companies of Dewan Housing Finance, Essel, ADAG and IL&FS through FMPs and approximately 56% of this exposure amounts

Essel Group companies, Kotak Mahindra AMC, HDFC AMC, FM, Credit Suisse,  IL&FS News

Chola MS posts gross premium of Rs 4,428 crore in FY19

Chola MS has a market share of 3% and has been ranked sixth amongst private players in the industry within addressable markets i.e; excluding crop, group & government health.

Cholamandalam MS General Insurance Company, Chola MS, Murugappa group, Mitsui Sumitomo Insurance, japan News

Air Tamer A310 review: Now, a wearable air purifier

Air Tamer emits a constant stream of healthy negative ions that force airborne pollutants away from your personal space giving you a zone of cleaner, healthier air

Air Tamer A310 review, Air Tamer A310 price, Air Tamer A310 faeturesm air purifier, GlobalKart.com, clean air, IQAir AirVisual, Greenpeace News

Loans to MSMEs grew 21% y-o-y in Q3FY19: Study

MSME lending, including loans to individual-led MSMEs, constituted 23% of all loans in India at the end of December 2018.

msme, msme loans, economy, indian economy News

ITC moves NCLT against Hotel Leelaventure, alleges oppression of minority shareholders

In January this year, JM Financial ARC had referred Hotel Leela to the NCLT under the Insolvency and Bankruptcy Code (IBC).

ncly, bankruptcy code News
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