Q3 results today: RVNL, Glenmark among 696 companies to announce earnings on Friday
Key companies announcing their third quarter results include Samvardhana Motherson, RVNL, Glenmark, Swan Energy, and Zen Tech. Samvardhana Motherson is expected to see profits rise by 68% YoY, while Glenmark Pharma’s profit is anticipated to improve significantly, with revenues from operations rising 38% YoY.
Asian stocks to gain, tariff delay lifts sentiment
Asian equities were expected to rise as markets reacted positively to a delay in potential US tariffs, raising hopes for negotiations. This optimism led to gains in Australia, Japan, and Hong Kong, and a record high for global stocks. Meanwhile, US President Donald Trump indicated possible reciprocal tariffs on trading partners.
Saluja no longer Director on Religare Enterprises board
The board has appointed Praveen Kumar Tripathi, a non-executive independent director, as chairperson until June 30, 2025, said a separate exchange filing by the company. It also stated that directors will serve as chairperson on a rotational basis, holding office for a calendar quarter.
Hospital Chain Yashoda plans Rs 4,000-crore public float
In February 2023, GPT Healthcare raised ₹525 crore, while in September 2023, Jupiter Life Line Hospital secured ₹869 crore through its IPO.
Quality Power’s niche play may suit the green shift
Quality Power IPO: Quality Power Electrical Equipments (QPEE) plans to raise ₹225 crore via fresh equity and ₹634 crore through an offer for sale in its IPO, reducing promoter stake to 74%. Specializing in HVDC and FACTS components, QPEE is poised to benefit from rising global renewable energy demand.
Street’s Nine: Big insurers submit IPO plans to IRDAI
The IRDAI had asked 10 large insurance companies, also including Bajaj Allianz Life, Bajaj Allianz General, Tata AIA, and Tata AIG General Insurance, to submit listing plans by the first week of February. While nine have now submitted their plans, one has asked for time until later this month to submit its proposal, the person […]
RBI moves to fine companies for availing foreign guarantee
RBI has told at least two state-owned banks to penalize corporate clients for breaching foreign exchange laws by obtaining guarantees from overseas banks. While such guarantees are barred under FEMA, RBI’s 2019 master direction allows them. The discrepancies between these regulations have led to confusion and potential legal conflicts, prompting RBI to demand regularization.
NBFCs seek easier terms for financing to tide over crunch
NBFCs urged the RBI governor to increase the ECB limit, ease regulations on alternative vehicle financing, and accelerate eKYC permissions. They also requested the ability to utilize SARFAESI for loans below ₹20 lakh and flagged issues affecting MFIs and green financing policies.
Kotak Bank shares gain after RBI lifts curbs
In April 2024, the central bank took supervisory action on Kotak Bank, directing the lender to “cease and desist” onboarding new customers through the bank’s online and mobile banking channels and issuing fresh credit cards with immediate effect.
Hard bargaining at RBI OMO lifts yields
The RBI also conducted an overnight variable rate repo (VRR) auction for ₹2.75 lakh crore, where RBI received bids for ₹2.35 lakh crore. System liquidity stood at a deficit of ₹2.07 lakh crore on Wednesday, and has been in a daily average deficit of ₹1.28 lakh crore in February.