* Kotak Mahindra Bank: The bank's PAT for FY24 increased by 26% YoY to ₹13,782 crore. The PAT for Q4FY24 was ₹4,133 crore, an 18% YoY increase. The bank's NII for FY24 increased by 21% YoY to ₹25,993 crore. The NIM for Q4FY24 was 5.28%. The bank's board recommended a ₹2 per share dividend.
* REC: They get NOC from RBI for setting up a wholly-owned subsidiary in GIFT City, Gujarat.
* HDFC Bank: The country's largest private sector lender, HDFC Bank, on May 3 said the Reserve Bank of India (RBI) approved the reappointment of Atanu Chakraborty as the part-time chairman of the bank for the next three years.
* Vodafone Idea: The company focusing on expanding 4G in 17 priority circles to improve competitiveness.
* IDBI Bank: The bank reported a 43.7% YoY increase in net profit for Q4FY24, at ₹1,628.5 crore. The bank's NII rose by 12.4% to ₹3,687.9 crore. The bank's board recommended a dividend of ₹1.50 per equity share for FY24.
* JSW Infrastructure: The company plans to invest over ₹2,500 crore in fiscal year 2025 to expand its cargo handling capacity. The company anticipates a 50% increase in capacity to 258 million tonnes with an investment of ₹14,000 crore by 2027.
* Ugro Capital: The company has approved acquiring financial services platform MyShubhLife for an enterprise value of ₹45 crore in a cash and equity deal. The board also approved raising equity capital of ₹1,322 crore through Compulsory Convertible Debentures (CCD) and warrants.
* Muthoot Finance: Belstar Microfinance, Muthoot Finance’s microfinance arm, has filed preliminary papers with SEBI to raise ₹1,300 crore through an initial public offering (IPO). The IPO combines a fresh issue of equity shares worth ₹1,000 crore and an offer-for-sale (OFS) of ₹300 crore by investor shareholders.
* HCL Technologies: The company and Cisco have launched 'Pervasive Wireless Mobility-as-a-Service', offering seamless connectivity across various sectors. The service merges HCLTech's managed network services with Cisco's URWB technology, providing robust network infrastructure.
* Dr Reddy's Laboratories: The pharmaceutical company launched doxycycline capsules, 40 mg in the US market, a therapeutic generic equivalent of ORACEA (doxycycline, USP) capsules.
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