Stocks to watch today: From Bajaj Auto to Nestle India, here are top stocks to watch in Tuesday's trade
The promoters have filled out a form to increase the stake and the due diligence process takes about 90-180 days as per RBI norms, said CEO Sumant Kathpalia
Private sector lender says it will expand its branch network to gain consumer confidence and help home loan business
The bank's board of directors has also recommended a dividend of Rs 14 per equity share
Tata Teleservices, Century Textiles & Industries, Tamilnad Mercantile Bank, Mahindra Logistics, IIFL Securities, Nelco, and Kshitij Investment are other companies that will declare Q4 results today
Under the deal, IndusInd Bank will offer credit to firms in the supply chain of Japanese OEMs in India, and to final buyers of construction machinery made by Japanese firms
This includes a $30 million loan by Citi and JPY 13 billion loan by JICA
Stocks to Watch: ONGC, Oil India, Reliance will be in focus as the Centre has slashed windfall tax on domestically produced crude oil to nil from Rs 3,500 a tonne, effective from April 4
On February 22, the Mumbai bench of the NCLT had admitted the bank's insolvency plea against ZEEL
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A veteran banker with two and a half decades of experience in the banking sector, he was earlier heading the microfinance business of RBL Bank
Zee had said that the company had been exploring several strategies, including settlement, in relation to the ongoing dispute with IndusInd Bank
In a report on Thursday, Bloomberg said that the media company has agreed to repay its dues to the IndusInd Bank to resolve insolvency proceedings against it
The settling of dues of about Rs 837 million ($10 million) to the lender could happen as early as Friday and the Mumbai-based bank has agreed to withdraw its insolvency proceedings
Analysts expect the underperformance in bank stocks to continue ahead as the current fears around the banking sector globally are likely to persist for some time
RBI's approval for reappointment of MD & CEO being for a lower tenure compared to board approval, which was for three years, could keep stock under pressure in near term
The stock of TV broadcasting & software production had dipped 15 per cent in past six trading days between February 17 and February 27.
Adani Green Energy (AGEL) on Friday said that its director Sunil Mehta has resigned to avoid any conflict of interest following his appointment as Chairman of IndusInd Bank. "Sunil Mehta has informed the company that pursuant to RBI approval, he has been appointed as part-time/non-executive Chairman of IndusInd Bank Ltd (bank) and that he has been advised by the bank to relinquish his directorship in the company to avoid any conflict of interest, in view of on-going credit facilities extended by the bank to the Company," a BSE filing said. Accordingly, it stated that Mehta has resigned as non-executive and independent director of the company with effect from today i.e. February 24, 2023, as per the attached resignation letter. Mehta has also confirmed that apart from above, there are no other reasons for his resignation, it stated. Mehta has resigned with effect from February 24, 2023. In his resignation, Mehta said, "I have been advised that the bank has extended credit facilitie
The move came after Punit Goenka, chief executive of Zee, challenged the insolvency proceedings against the company
Goenka had appealed the NCLT's decision to allow IndusInd Bank to file for insolvency proceedings against Zee