Axis Finance Limited on Saturday announced a ₹2,250 crore primary capital raise, comprising a ₹1,500 crore rights issue from parent Axis Bank and a ₹750 crore infusion from Kedaara Capital through a preferential allotment. The investment marks Axis Finance’s first capital raise from an external investor and its largest primary fundraise to date. The Kedaara…
Shares of LTIMindtree Ltd. are trading over 5% lower on Friday, April 24, after the technology consulting and digital solutions firm reported a largely in-line performance for the March quarter. The company posted constant currency (CC) revenue growth of 1.2%, slightly below estimates of 1.4%, while EBIT margin came in at 15.1%, marginally under expectations…
Mumbai-based Gujarat Themis Biosyn Ltd. (GTBL) has informed exchanges that it has signed an asset purchase agreement with Sanofi to acquire a portfolio of anti-tuberculosis (TB) and anti-infective brands, along with associated trademark and commercial rights. The deal, valued at €158 million, includes 13 established branded generic products with a presence across more than 55…
Sun Pharmaceutical Industries Ltd. is close to finalising a deal to acquire assets of Organon, with an announcement expected soon, sources familiar with the matter have told CNBC-TV18. The proposed transaction is valued at over $12 billion, they said. The deal is expected to be funded through a combination of debt arranged by global banks…
UPL Ltd said it will further invest approximately $86.7 million (BRL 450 million) in its associate company, Sinova Inovações Agrícolas S.A., as part of an equity infusion aimed at strengthening the business. The company, in a regulatory filing, said the investment will be made by its step-down subsidiary, United Phosphorus Holdings Brazil B.V. (UPL Brazil),…
The Federal Reserve is set to hold its next policy meeting on April 28–29, as officials continue to assess the economic outlook and the trajectory of interest rates. The rate-setting Federal Open Market Committee meets eight times a year to review key indicators such as inflation, growth and employment, and decide on the federal funds…
Sanjay Parekh, Founder & CIO of Sohum Asset Managers, says rising crude prices and inflation pressures could keep markets under strain, with near-term earnings growth seen at 8–9%. He expects consolidation and advises gradual buying at lower levels, favouring a stock-specific approach in midcaps. Parekh remains cautious on IT due to a weak growth outlook,…
Nearly two years after operations were halted, over ₹800 crore of customer funds remain stuck in Paytm Payments Bank, CNBC-TV18 has learnt from people directly familiar with the matter. Of the total amount, around half is locked in frozen accounts, while another ₹400 crore remains unclaimed, according to sources. There has been no meaningful drawdown…
IDFC First Bank reported a steady March quarter performance, with net profit rising 4.9% year-on-year to ₹319 crore from ₹304 crore, supported by strong core income growth and improving asset quality. Net interest income (NII) grew 15.7% YoY to ₹5,677 crore from ₹4,906 crore, reflecting continued traction in the bank’s loan book across segments. Asset…
Moreover, IDFC First Bank‘s NIM stood at 5.93 per cent compared to 5.95 per cent. Interest income rose 12.1 per cent to Rs 10,552.8 crore from Rs 9,412.94 crore, while interest expense increased 8.2 per cent to Rs 4,875.58 crore versus Rs 4,505.78 crore. Net interest income grew 15.7 per cent to Rs 5,677 crore…
