The bank raised Rs 745 crore through issue of Basel-III compliant tier-2 bonds in the March quarter. The amount mobilised would be counted as part of tier-2 capital and enhance the capital adequacy of the bank, it said. … [Read more...] about IDBI Bank posts Rs 135 crore profit in Q4
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Factory output measured by the index of industrial production (IIP) contracted 16 percent 2020. This shows declining momentum of both investment and consumption. Even core industries productions of steel, electricity, coal and cement are falling or have been stagnant in recent quarters. … [Read more...] about Lockdown impact | Steep revisions in previous numbers put FY20 growth at 4.2%
The government on Friday released January-March GDP figure. The Indian economy grew at 3.1 percent in the January-March quarter (Q4) of 2020, its slowest pace in at least two years. The GDP growth was recorded at 5.8% in the corresponding quarter of 2019-20. … [Read more...] about India GDP data highlights: Growth falls to 3.1%; agriculture sector grows at 5.9%
"The figures of 2018-19 include the consolidated figures of Symphony AU Pty Ltd, Australia, only for the period from July 1, 2018, to March 31, 2019, i.e. 9 months and hence, the figures of 2019-20 are not comparable with the figures of 2018-19," the company said. … [Read more...] about Symphony Ltd net profit at Rs 40 crore in March quarter; net sales at Rs 249 crore
In Wipro, after CEO Vivek Paul's exit in 2005, Azim Premji assumed the role for three years till 2008. Between 2008 and 2011, the company was led by Girish Paranjpe and Suresh Vaswani, both of them old-timers, who quit in 2011 on grounds of personal reasons. By then, Wipro's growth began to slump. … [Read more...] about Wipro’s new CEO: Can foreign executives succeed in Indian IT firms?