A Kotak Mahindra Bank arm is targeting to raise up to Rs 1,500 crore to invest in private equity and venture capital funds.

Kotak Investment Advisors (KIAL) said it is launching the Kotak India Alternate Allocation Fund (KIAAF), a 'fund of funds', which is targeting to raise Rs 750 crore with a greenshoe option of another Rs 750 crore.

DBS Bank India reported a profit after tax of Rs 167 crore in 2021-22, with firm performance in corporate and retail banking segments leading to an 11 per cent on-year rise in net revenues, the lender said via a press release on Tuesday.

The bank, which is a wholly-owned subsidiary of DBS Bank, acknowledged the lagged effects of its amalgamation with Lakshmi Vilas Bank on its net profit.

To ensure an adequate number of pilots for its expanding fleet size, Tata Group-owned Air India (AI) has decided to raise their retirement age from 58 to 65.

Considering future expansion plans for our fleet, it is imperative to meet our workforce requirement for pilots. DGCA ((Directorate General of Civil Aviation) allows pilots to fly till the age of 65 years, compared to Air India retirement age of 58 years. Allowing pilots to fly till the age of 65 is a practice followed by most airlines in the industry, said the airline's internal document issued on July 29.

Shares of YES Bank moved higher up to 15 per cent to Rs 17.46 and hit the highest level since January 2021 on the BSE in Tuesday’s intra-day trade. The stock of private sector lender surpassed its previous high of Rs 16.25 that it had touched on April 7, 2022.

In the past three trading days, YES Bank gained 20 per cent after the bank announced to raise equity capital of around 1.1 billion (Rs 8,900 crore) from funds affiliated with two global private equity investors - Carlyle and Advent International, with each investor potentially acquiring up to 10 per cent stake in the lender.

Adani Enterprises (AEL) has become the fourth Gautam Adani Group company to cross the Rs 3-trillion market capitalisation (market-cap). The stock hit a fresh record high at Rs 2,693.30, up 1 per cent on the BSE in Tuesday’s intra-day trade.

In the past one month, the stock price of AEL has rallied 20 per cent, as compared to 9.4 per cent rise in the S&P BSE Sensex. Further, on a six-month time period, the stock has zoomed 52 per cent against a 3 per cent decline in the benchmark index.

Indian low-cost carrier SpiceJet Ltd said on Tuesday it had cleared all its outstanding principal dues with the state-run airport operator Airports Authority of India (AAI), sending its shares up nearly 5%.

The airline will revert to advance payment mechanism for its daily operations, and AAI will release a 500 million rupees ($6.33 million) bank guarantee, the company added.

Aiming to provide financial support to the bereaved families of handloom and power loom weavers in Telangana, the state government will launch the 'Nethana Beema' scheme on August 7, said minister KT Rama Rao on Monday.

"Telangana government is implementing various welfare schemes to uplift the weaver's community in the state," KTR said.

Leading textile manufacturer Arvind Ltd on Monday reported a consolidated net profit of Rs 101.62 crore for the first quarter that ended on June 30, 2022.

The company had posted a net loss of Rs 11.42 crore during the April-June quarter of the previous fiscal, Arvind said in a regulatory filing.

Sanjay Arora, a senior IPS officer, took charge as the commissioner of Delhi Police on Monday, officials said.

Arora was accorded the ceremonial guard of honour by the police force upon his arrival at the Delhi Police Headquarters at Jai Singh Marg here.

The 57-year-old officer was appointed as the Delhi Police commissioner on Sunday by the Union government following the retirement of Rakesh Asthana, a 1984-batch IPS officer.

More than 32,000 tech workers have been laid off in the US till July, including at Big Tech companies like Microsoft and Meta (formerly Facebook) and the worst has not been over yet for the tech sector that has seen massive stock sell-off.

According to the data compiled by Crunchbase, more than 32,000 workers in the US tech sector have been laid off in mass job cuts, as of late July.

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