HDFC earns Rs 787 crore from stake sale in mutual fund arm during September quarter
Posted on 4th October 2018 |
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| Mortgage lender HDFC Ltd Wednesday said it earned Rs 787 crore from selling stake in the initial public offer (IPO) of HDFC Asset Management Company Ltd. During the September quarter, the proceeds from the stake sale in the IPO of HDFC Asset Management Company after “net of expenses and tax stood at Rs 787 crore”, it said in a filing to the stock exchanges. According to the filing, income from dividend for the September quarter was Rs 6 crore compared to Rs 537 crore in the corresponding quarter. The latter amount included Rs 433 crore from HDFC Bank. In the current year, dividend from HDFC Bank amounting to Rs 511 crore was received in the first quarter of the financial year, as per the filing. So, income from dividend for six months ended September 30, 2018 was Rs 592 crore compared to Rs 596 crore in the corresponding period of the previous year, it added. During the second quarter ended September 30, 2018, HDFC assigned loans amounting to Rs 6,059 crore compared to Rs 3,531 crore in the same period a year ago. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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