The global energy crunch spurred by Russia’s invasion of Ukraine is giving the world’s biggest refining complex a much-needed boost.

Reliance Industries Ltd.’s Jamnagar facility is lifting crude processing and deferring planned maintenance to take advantage of surging demand for diesel, according to people with direct knowledge of the matter.

IPO-bound fintech firm Mobikwik became profitable in the December 2021 quarter and expects to close the current financial year with almost two times growth in revenue, a top company official has said.

Mobikwik co-founder and Chief Operating Officer Upasana Taku told PTI that the company recorded profit of around Rs 7 crore in the third quarter of 2021-22, after losing money in the first and second quarters.

IndusInd Bank has informed the stock exchanges that it will set aside Rs 13.5 crore as additional provision this financial quarter (Q4FY22), responding to an external review of on allegations by anonymous people about the lender’s subsidiary.

The private bank's board noted the potential impact of Deloitte’s review which talked of lapses in product execution and client consent recording at Bharat Financial Inclusion Limited (BFIL). It constituted a committee to assess staff accountability, if any.

The Tata group is likely to announce a new chief executive officer for Air India in the next few days after its first pick, Turkey’s Ilker Ayci, refused the job due to controversy over his relationship with that country’s president.

The name of the new CEO is being finalised. Since it is an important appointment and as a part of good corporate governance the appointment would be discussed with the board of Tata Sons. There is no decision yet but it will happen in a few days, said a person familiar with the matter.

To mark the occasion of International Women's Day, India's fastest growing personal hygiene company, Soothe Healthcare announced the launch of new state-of-the-art manufacturing facility in Noida, Uttar Pradesh spread across 1.5 lakh sq. ft.

With the addition of this new best in class manufacturing facility, Soothe Healthcare aims to double its production capacity from 500 million units to 1 billion units per annum. With an investment of Rs. 30 Crores being put in the new manufacturing facility, Soothe Healthcare has become a 300-crore run rate company in FY 2021-22 and in next 5 years aims to become a 1000 crore mother brand with- Paree Sanitary Pads, Super Cute's and Super Liife under its umbrella.

India’s markets regulator has approved the public listing of Life Insurance Corporation of India (LIC), sources told 'Business Standard' on Wednesday as the war in Ukraine casts a shadow over the state-owned firm’s IPO timing.

The government is looking to sell a 5 per cent stake, or 316 million shares, in the insurer through the IPO. Investment banking sources said Sebi issued the so-called final observations on Tuesday evening.

Zydus Lifesciences on Tuesday said its subsidiary has inked a pact to acquire a brand from the US-based BridgeBio Pharma.

Sentynl Therapeutics, Inc -- a US-based wholly owned subsidiary of Zydus Lifesciences -- and BridgeBio Pharma, Inc have executed an asset purchase agreement for the sale of Nulibry (Fosdenopterin) for injection.

Housing Development Fina­nce Corporation (HDFC) has raised Rs 10,000 crore through 10-year bonds carrying a coupon of 7.18 per cent. The money will be deployed for bus­iness operations. The iss­ue size was Rs 500 crore with a green-shoe option of Rs 9,500 crore.

Given the high standing of the company, the pricing was fine at 7.18 per cent, said bond dealers, adding that initial indication was 7.25-7.30 per cent on the yield.

Shares of sugar companies were in demand and rallied up to 18 per cent on the BSE in Tuesday’s intra-day trade on strong outlook. With a favourable mix of ethanol towards B-heavy/juice (feedstock) coupled with higher sugar realisations; operating margins of sugar companies are expected to improve.

Among the individual stocks, Mawana Sugars zoomed 18 per cent to hit a 52-week high of Rs 140.55, surpassed its previous high of Rs 128.90 touched on February 17, 2022.

Russian and Ukrainian negotiators on Monday failed to achieve significant results during their third round of peace talks held in Belarus.

Mykhailo Podolyak, a member of the Ukrainian delegation, said that there was some small progress in improving the logistics of humanitarian corridors in Ukraine.

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