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PFC declares Gensol as fraud, to approach NCLT if recovery falls short

Mumbai, May 22 -- State-run Power Finance Corp. has declared its loan exposure to Gensol Engineering Ltd as fraud after its preliminary findings and has fully provided for the loan amount, according t... Read More


IiAS urges 'no' vote on Bajaj Finance vice-chairman's reappointment over pay

Mumbai, May 20 -- Proxy advisory firm IiAS has recommended Bajaj Finance Ltd's shareholders to vote against the reappointment of Rajeev Jain as vice-chairman and executive director, citing lack of cla... Read More


Debt-laden SP Group seeks $1.3 billion through realty IPO and energy asset sales

Mumbai, May 19 -- Shapoorji Pallonji (SP) Group, the Mumbai-headquartered real estate and infrastructure conglomerate run by billionaire Shapoor Mistry, is planning to raise $1.3 billion (about Rs.11,... Read More


CLSA, Investec cut IndusInd outlook on audit concerns

Mumbai, May 17 -- Foreign brokerages including Investec and CLSA have downgraded their recommendations on the shares of IndusInd Bank Ltd after the lender flagged two more accounting issues in its int... Read More


IndusInd Bank: CLSA, Investec downgrade stock as fresh accounting issues crop up

New Delhi, May 16 -- Foreign brokerages including CLSA and Investec have downgraded their recommendations on IndusInd Bank Ltd shares after the lender flagged two more accounting issues in its interna... Read More


SMBC seals deal to buy 20% in Yes Bank

Mumbai, May 10 -- Japan's Sumitomo Mitsui Banking Corp. (SMBC) will acquire a 20% stake in Yes Bank for Rs.13,482 crore in the largest cross-border investment in Indian banking sector. SMBC will purch... Read More


Japan's SMBC succeeds in its pursuit of Yes Bank; to acquire a 20% stake

Mumbai, May 9 -- Japan's Sumitomo Mitsui Banking Corp. (SMBC) will acquire a 20% stake inYes Bank for Rs.13,482 crore, making it the largest cross-border investment in the Indian banking sector. SMBC... Read More


Rupee falls 89p, the most since FebRUARY 2023

Mumbai, May 9 -- The Indian rupee fell nearly 1% on Thursday amid rising tensions between India and Pakistan. The local currency opened at 84.61 and moved between an intra-day high of 84.52 and a low ... Read More


Rupee falls 89p, the most since Feb 2023, as India-Pak tensions rise

Mumbai, May 8 -- The Indian rupee fell nearly 1% on Thursday amid rising tensions between India and Pakistan. The domestic currency opened at 84.61 and moved between an intra-day high of 84.52 and a ... Read More


Sebi finds no evidence of insider trading by IndusInd Bank executives

New Delhi, May 2 -- The stock market regulator has closed its investigation into potential insider trading violationsby top IndusInd Bank executives, a person aware of the matter said, as it found all... Read More