PNB Housing Finance on Thursday reported a 51% year-on-year (y-o-y) growth in net profit to Rs 378 crore for the quarter ended March 31, led by increase in fee income and lower provisions. In the same quarter last year, the mortgage lender posted a net profit of Rs 252 crore.

Earlier this month, CARE Ratings put PNB Housing Finance on credit watch with developing implications due to requirement to raise money to maintain comfortable capital adequacy.

Reliance Industries subsidiary Reliance Brands Ltd (RBL) is acquiring 100% stake in Hamleys Global Holdings, the owner of British toys brand Hamleys, from Hong Kong-based C Banner International Holdings. An agreement to this effect has been signed between the two entities, RBL said in a statement late Thursday evening.

It has been a year since India witnessed the largest M&A deal in its history. Walmart Inc. on May 9 last year had announced it is buying 77 per cent stake in Flipkart for about $16 billion at a valuation of $21 billion. On Thursday, Flipkart celebrated its one-year anniversary of being part of the global retail giant.

However, a lot has changed in one year. Sachin Bansal and Binny Bansal, who started the company in 2007, have both exited the firm. Close on the heels of Binny’s exit, Ananth Narayanan, the top boss of Flipkart’s branded fashion platform Myntra Jabong, also exited the firm.

India’s thermal coal purchases are expected to surge to a record this year and remain robust through the next decade as domestic supply lags demand, according to the country’s largest importer.

Overseas shipments will climb almost 11% to 184 million metric tons during the financial year started April 1, and rise further to average about 200 million annually through the following decade, according Vinay Prakash, chief executive officer for coal and mining at Adani Enterprises Ltd.

The rupee breached the crucial 70 level a US dollar in the opening trade on Friday amid subdued global cues and rise in crude oil prices. On Thursday, the domestic unit depreciated by 23 paise to settle at 69.94 on unabated foreign fund outflows amid simmering US-China trade tensions.

Firming oil prices and a prolonged spell of weakness in the equity markets also weighed on the domestic unit, PTI reported quoting forex dealers as saying.

The country's largest car maker Maruti Suzuki India (MSI) Thursday said it has slashed its vehicle production by around 10 per cent across its factories in April.

It is the company's third consecutive month of taking a production cut. It had also reduced production in February and March this year.

Mumbai: National Aeronautics and Space Administration (NASA), the US Space agency released images of affected areas in Odisha post-cyclone Fani. These images draw a comparison before and after the cyclone made landfall in the region.

Mumbai: The benchmark BSE Sensex fell over 200 points and the NSE Nifty dropped below the 11,300 mark in early trade on Thursday tracking weak cues from global markets as US-China trade tiff continued to roil investor sentiment.

Ahead of the crucial 11th round of talks aimed at ending the trade war between the world's two largest economies, scheduled for May 9-10 in Washington, China has said it will retaliate if US raises tariffs on Chinese products.

MUMBAI: India’s largest telecom operator Vodafone Idea Ltd is planning to raise money through a private infrastructure investment trust (InvIT) of its fibre assets, two people aware of the development said. A similar plan is being considered by rival Reliance Jio Infocomm Ltd.

As Paytm’s e-commerce unit struggles to compete against Amazon and Walmart-owned Flipkart that jointly commands close to 80% of the country’s e-commerce market, the former is understood to be in preliminary discussion with investors to raise around $500 million, an industry source told FE. The bulk of the funds would be spent on building Paytm Mall’s O2O (online-to-offline) strategy, the source said.

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