Top Headlines: Axis Bank Q4 profit at Rs 4,118 cr; Vedanta to pay dividends

Vedanta announces that it will pay Rs ​117.1 billion ($1.5 billion) in dividends to shareholders. Read more on this in our top headlines for the evening.

Axis Bank on Thursday reported a 54 percent year-on-year growth in standalone profit of Rs Rs 4,118 crore while Vedanta announced that it will pay Rs ​117.1 billion ($1.5 billion) in dividends to shareholders. Read more on these in our top headlines for the evening.

Axis Bank Q4 profit soars 54% to Rs 4,118 cr; NII up 17%

Axis Bank, one of the largest private sector lenders in India, on Thursday reported a 54 percent year-on-year growth in standalone profit of Rs Rs 4,118 crore, compared to Rs 2,677 crore in same period last year, the bank said in its BSE filing. Read more

Vedanta to pay Rs 117.1 billion in dividends as Q4 profit drops

Vedanta Ltd. will pay 117.1 billion rupees ($1.5 billion) in dividends to shareholders even as its quarterly profit fell for the first time in six quarters due to elevated raw material costs. Vedanta will pay a dividend of 31.50 rupees a share to investors, it said in an exchange filing Thursday. Read more
 

Tata Motors aims to build 80,000 EVs this financial year: Report

Tata Motors expects to aggressively ramp up annual production of electric vehicles (EVs) to more than 80,000 units this financial year, sources with knowledge of the matter told Reuters. That compares with the 19,000 EVs it built and sold in the last financial year. Read more

As govt woos foreign univs, Indians studying abroad doubles in 7 years

The University Grants Commission, earlier this month, set up a five-member committee to study how to get foreign universities to India. The committee will submit its report by the end of the month, potentially allowing foreign institutes to set up campuses in India. As the government lost that opportunity, a Business Standard analysis shows that the number of students studying abroad has almost doubled over years. Read more

Fertiliser subsidy may go up 55% to record Rs 2.5 trn in FY23: Report

India's fertiliser subsidy bill is likely to shoot up by 55 per cent to record Rs 2.5 lakh crore this fiscal as the government will provide additional funds to make up for the spike in cost from higher import price, top sources said on Thursday. Read more