The country’s biggest lender HDFC Bank on Monday reported a 30 per cent jump in its net profit for the quarter that ended on June 30 to Rs 11,952 crore.

The bank’s net revenue grew 26.9 per cent to Rs 32,829 crore in the quarter as compared to Rs 25,870 crore in the same quarter last year. The net interest income during the quarter jumped 21.1 per cent to Rs 23,599 crore from Rs 19,481 crore last year.

India's second-largest software services exporter Infosys said on Monday it has signed a deal with an existing client to provide artificial intelligence (AI) and automation services that will span over five years, with a target spend estimated at $2 billion.

AI and automation-related development, modernization and maintenance services are included in the agreement, the company said in an exchange filing.

Foxconn, a major iPhone assembler for Apple, has proposed to set up a Rs 8,800 crore supplementary plant to that of the unit at Devanahalli Information Technology Investment Region (ITIR) in Karnataka, the state's Large and Medium Industries Minister M B Patil said on Monday.

The Chief Minister Siddaramaiah chaired a high-level meeting with the delegates of Foxconn Industrial Internet (Fii), headed by its CEO, Brand Cheng, in this regard, he said.

The corporate affairs ministry has ordered an inspection of the books of BYJU'S, a senior government official said on Monday amid the edtech major facing multiple headwinds, including delay in submitting financial statements and concerns over corporate governance issues.

The inspection of Bengaluru-based Think & Learn Pvt Ltd, which operates under the brand BYJU'S, will be carried out by the ministry, which is implementing the companies law.

The water level of the Yamuna River was recorded at 206.01 meters in Delhi on Monday at 11 pm. This is a level-up from the earlier gradual decrease in the water level of the Yamuna.

Earlier, the water level of the Yamuna crossed 205.48 metres on Monday morning. This was slightly above the danger mark of 205.33 metres, even as the waterlogging persisted in several parts of the national capital.

In a sign of recovery in the real estate sector, Chennai saw probably its biggest launch sales in history as TVS Emerald, the real estate arm of TVS Group, registered sales worth Rs 438 crore on the launch day (Sunday) of its new project TVS Emerald Elements.

In comparison, the previous highs during the last ten years stood at Rs 222.6 crore, by Casagrand Magestica in May 2023, and Rs 195.13 crore for The Peak by Baashyaam Constructions last April, shows industry data.

Days after its merger with HDFC Ltd, HDFC Bank on Monday joined the exclusive club of companies with a market capitalisation of $100 billion. This makes it the seventh-largest lender globally.

On Monday, the bank’s market capitalisation crossed $150 billion, making it bigger than Morgan Stanley, Goldman Sachs and Bank of China.

The Insurance Regulatory and Development Authority of India (IRDAI) has asked all general insurance and standalone health insurance companies to mobilise all resources to ensure immediate service response including engaging the services of investigators, surveyors and loss adjustors for quick settlement of claims arising out of the havoc created by the floods in Northern parts of the country.

The regulator said insurers have been advised to communicate the nomination of a Senior Executive in each affected State / UT to the Chief Secretary/ Officer concerned of the State immediately.

The National Stock Exchange of India (NSE) has rapped Angel One for failing to monitor the operations of its authorised persons (APs), which resulted in alleged violation of capital market regulations.

The exchange, in an order dated July 14, has slapped a monetary penalty of Rs 1.67 crore and prohibited the brokerage from onboarding new APs for a period of six months. NSE has directed Angel One to conduct inspection of all its APs and submit a report within six months.

China — the world's largest bilateral creditor to low- and middle-income countries — is yet to come on board for a common understanding on debt resolution for such nations, said sources in the know about discussions at the third meeting of G20 Finance Ministers and Central Bank Governors (FMCBG) here.

The debt crisis, a priority area for India in G20 discussions, has been aggravated following the Covid pandemic, and talks have taken place between the World Bank, the IMF, and China, as well as private lenders.

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