HDFC in spotlight after revising RPLR

HDFC has increased its retail prime lending rate (RPLR), on which its adjustable rate home loans (ARHL) is benchmarked, by 20 basis points, with effect from 1 April 2018. The announcement was made after market hours yesterday, 9 April 2018.

Wipro announced after market hours yesterday, 9 April 2018, that its fourth-quarter revenue and profitability would be hit by the insolvency proceedings of one of its telecom clients in India. The company said it has been working with the Insolvency Resolution Professional to discuss the potential outcome of its client's insolvency petition.

It is estimated that this development will have an impact on both revenue and profitability. The company is likely to see an impact on profitability at the net income level in the range of 65-75 basis points of the consolidated revenues for the quarter ended 31 March 2018, Wipro said in a statement. The impact of this client insolvency petition will reflect in the financial results of the company for the quarter and year ended 31 March 2018.

Though Wipro did not name the telecom client, it said that it had initially signed a deal with the client in 2008 and had renewed the contract in 2013. Wipro added that the client had filed its insolvency petition on 28 February 2018.

The Reserve Bank of India notified that the Foreign Portfolio Investors (FPIs) investment limit under Portfolio Investment Scheme in Future Supply Chain Solutions has increased from 24% to 49% of its paid up capital.

Max Financial Services said that the Board considered various fund raising proposals and approved submission of such proposals received from KKR Capital Markets India, Standard Chartered Bank and TPG Global LLC & other co-investors (together the Investors) to pursue the acquisition opportunity by Max Life. The announcement was made after market hours yesterday, 9 April 2018.

Gravita India said that the company has started commercial production of PPCP Granules from its plant situated at Chittoor, Andhra Pradesh. The announcement was made after market hours yesterday, 9 April 2018.

Powered by Capital Market - Live News