A London court has ruled in favor of IDBI Bank, directing Axcel Sunshine Ltd, linked to former Aircel promoter Chinnakannan Sivasankaran, to pay $143.7 million (approximately ₹1,250 crore) towards principal and interest on a defaulted loan. The dispute stems from a $67 million loan taken in 2014 by Axcel Sunshine Ltd, a subsidiary of Siva…
Health insurance premium growth has seen a significant slowdown after reaching record highs during the Covid-19 pandemic. The tapering demand from retail consumers, driven by affordability issues, has contributed to this decline. According to data from the General Insurance Council, health insurance premiums grew by 10.44 percent year-on-year (Y-o-Y) in the April-January period of FY25,…
Onix Renewable, a prominent player in the renewable energy sector, is planning to launch an Initial Public Offering (IPO) worth Rs 1,000 crore. The company aims to achieve a valuation of Rs 10,000 crore through this IPO. The funds raised will be used to expand their solar energy projects and strengthen their solar module manufacturing…
Shares of engineering, procurement and construction (EPC) firm Transrail Lighting jumped nearly 5 per cent on February 28 after the company announced it had won new orders worth Rs 2,752 crore, primarily from the transmission and distribution (T&D) segment. The company informed about the order wins through an exchange filing after market opened on February…
The Life Insurance Corporation of India (LIC) announced on Thursday that it received a demand notice amounting to Rs 479.88 crore for short payment of Goods and Services Tax (GST) for the financial year 2020-21. The communication, which includes interest and penalty, was issued by the Deputy Commissioner of State Tax, Mumbai, on February 27,…
HDFC Bank, India’s largest private lender by assets, plans to expand its loan securitisation business over the next few years to meet rising investor demand, said CFO Srinivasan Vaidyanathan in an interview late on Thursday. The bank aims to create space for fresh loans without increasing its balance sheet. Loan securitisation involves bundling loans and…
Zepto Café, the 10-minute food delivery service from Zepto, has reached a significant milestone of 100,000 orders per day, announced co-founder and CEO Aadit Palicha. This achievement comes just two weeks after surpassing 75,000 daily orders. In a LinkedIn post, Palicha also projected that the gross merchandise value (GMV) would reach $100 million annually. Launched…
New Delhi: Garden Reach Shipbuilders and Engineers Ltd (GRSE) on Monday reported an 11 percent rise in net profit to Rs 98 crore for the quarter ended December 2024. Revenue from operations for the quarter also grew 38 percent year-on-year to Rs 1,271 crore, the company said in a statement. Earnings before interest, tax, depreciation…
Divi’s Labs on February 3 reported a consolidated net profit of Rs 589 crore in the December quarter of the current fiscal. This represents a jump of nearly 65 percent from the net profit of Rs 358 crore recorded in the same period last fiscal. Divi’s Labs released its results for the December quarter of…
LIC Housing Finance released its Q3 FY25 results on January 31 (Tuesday), reporting strong performance despite a marginal drop in net interest income (NII). The company’s net profit stood at ₹1,432 crore, up 23.1% from ₹1,163 crore in the same period last year. This is higher than the CNBC-TV18 poll estimate of ₹1,294 crore. However,…
