Page 227 - Bs Reporter

News on RBI nod for ARC stake speculative, lacks bonafide sources: YES Bank

YES Bank clarified that it had indeed started the process of seeking a partner for an asset reconstruction company through a public expression of interest, but added that the process is still underway

Mindtree Q1 net profit increases 37% at Rs 472 cr; revenue rises 36%

On Mindtree-L&T Infotech merger, the management said that the merger is on track

CDPQ buys add'l 10% in Mumbai-based Apraava Energy at Rs 660 cr deal value

With this, the Canadian pension fund's stake in the firm goes up to 50%

Lightspeed India raises $500 million for India and Southeast Asia

This is part of the $7 billion that the fund house has raised

RBI fines Ola Financial Services Rs 1.67 cr for not following directions

Ola Financial Services was found to be non-compliant with the directions issued by RBI on KYC requirements

HCL Tech Q1 results: Net profit rises 2.4% to Rs 3,283 cr, revenue up 16.9%

HCL Tech had a total contract value (TCV) of new deals worth $2 billion, a growth of 23.4 per cent YoY

Uber gets into damage control with the story of a changed company post 2017

Uber's comment on an ICIJ report on the manner in which it flouted local rules to build its business is revealing as it seeks to wash its hands off the management's deeds pre-2017

M&M Financial Services zooms over 16% in July on strong biz outlook

Thus far in July (last eight days), MMFSL has rallied 16 per cent, as compared to a 1.6 per cent rise in the S&P BSE Sensex

NMDC to be excluded from Nifty CPSE index over move to hive off steel arm

NMDC shares drop 5.3%; ONGC, Coal India and Bharat Electronics likely to see inflows of $31-46 million on account of the rebalancing

Supply chain start-up Wheelocity raises $12 mn to expand business

Wheelocity will use the fund to build new products, expand its customer base and improve its fruits and vegetables supply chain

Glance user base grows by 30% YoY to reach 183 million in Q1 2022

Inmobi's Glance, which is present in India, Indonesia and parts of Southeast Asia, is focussing heavily on expansion in existing as well as new markets

Aerem raises $2.5mn in pre-series A funding led by Blume Ventures

Aerem was founded in 2021 by Anand Jain who comes with a strong background in both financial services and solar

Loan disbursements for Paytm up nine-fold to over Rs 5,550 crore

The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 crore ($703 mn)

IRDAI constitutes two task forces on issues of reinsurance support

The terms for reference for the task force include issues discussed by the industry players with Irdai in the recently concluded bi-monthly meeting with the top honchos of the general insurance firms

HDFC Life invests in 'Z3Partners Tech Fund' to aid digital entrepreneurs

Z3 Partners has already backed startups like Cyfirma, DealShare, Gramophone, Shipsy, and True-Fan

Former VSNL chief, 'father of internet in India', B K Syngal dies

Syngal, referred to as father of internet in India, joined Reliance following a controversial exit from VSNL

DoT gets applications from 4 firms to participate in 5G spectrum auction

The applicants include three telecom service providers - Bharti Airtel, Reliance Jio and Vodafone Idea

Fourth quarter numbers being rechecked post-ransomware, says SpiceJet

The airline said its Q4 FY22 financial result was prepared before the ransomware attack

Markets posts biggest weekly gain in two months as benchmarks add 3% each

Softening bond yields, moderation in FPI selling boost sentiment; both indices are now up 6% from year's low, but still down over 12% from their record high levels seen last October

RBI fines Federal Bank Rs 5.7 cr for flouting insurance broking norms

Banking regulator imposes fine of Rs 70 lakh on Bank of India for non-compliance with KYC norms