Private sector Bandhan Bank on Friday reported a multi-fold jump in its net profit at Rs 1,902.30 crore in the quarter ended March 2022.

The bank had posted a net profit of Rs 103 crore in the year-ago quarter.

Total income of the bank in Q4FY22 rose by 43 per cent to Rs 3,504.2 crore, as against Rs 2,457.4 crore in the same period of FY21, Bandhan Bank said in a regulatory filing.

Shares of Greaves Cotton soared 11 per cent to Rs 145.60 on the BSE in Friday’s trade after the company’s E-Mobility business turned profitable in March 2022 (Q4FY22).

At 01:52 pm, the stock traded 10 per cent higher at Rs 143.80 on the back of a two-fold jump in trading volume. In comparison, the S&P BSE Sensex was up 1.3 per cent at 53,640. A combined 4.1 million equity shares changed hands on the BSE and NSE.

Logistics services provider Delhivery’s IPO has managed to garner full subscription despite challenging market conditions. The issue was subscribed 1.12 times as at 1:10pm, data provided by the BSE showed.

The institutional investor portion of the issue was subscribed nearly two times. Other other categories are not yet fully subscribed.

Shares of HDFC Asset Management Company (AMC) hit fresh 52-week low of Rs 1,809.05, down 2 per cent on the BSE in Friday’s intra-day trade in an otherwise firm market. The decline comes after index provider MSCI excluded the stock in its global indices.

At 11:18 am; HDFC AMC traded 1 per cent lower at Rs 1,827, as compared to 1 per cent rise in the S&P BSE Sensex at 53,485 points. In the past one month, the stock underperformed market by falling 18 per cent, against 8 per cent decline in the benchmark index.

Life Insurance Corporation (LIC) of India has set the initial public offering (IPO) issue price at Rs 949, which is at the top-end of the indicative range, said a report in the Economic Times.

The LIC IPO sold in the range of Rs 902-949 from May 4 to May 9. LIC is the biggest IPO in the history of Indian stock markets. Owing to the strong demand from the retail investors, policyholders, and employees of the company, the IPO was subscribed 2.85 times on the final day of bidding.

After closing at an all-time low against the US dollar on Thursday, the rupee recovered some lost ground to trade at 77.31 against the US dollar in morning trade on Friday as the American currency retreated from its elevated levels.

At the interbank foreign exchange, the rupee opened at 77.35 against the American dollar, then gained further ground to quote at 77.31, registering a rise of 19 paise from the last close.

Delhi registered a record GST collection of Rs 2,898 crore in the first month of financial year 2022-23, officials said on Thursday.

This is the city's highest-ever GST collection for April, they said.

The record GST collection is also a sound indicator of the national capital's economy recovering fast after the devastation caused by the three waves of COVID-19 during the past two years, they said.

Homegrown auto major Tata Motors on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March.

The company had posted a consolidated net loss of Rs 7,585.34 crore in the same period last financial year, Tata Motors said in a regulatory filing. Its total consolidated revenue from operations stood at Rs 78,439.06 crore in the fourth quarter against Rs 88,627.90 crore in the year-ago period.

Supreme Court on Wednesday put the sedition law on hold, and urged the Central and state governments to refrain from registering any FIRs invoking Section 124A of the Indian Penal Code.

A bench headed by Chief Justice N.V. Ramana and comprising Justices Surya Kant and Hima Kohli said that governments should not use the sedition provision till the review of the sedition provision by the Centre is complete.

Several parts of Odisha and West Bengal are bracing for heavy rain as severe cyclone Asani weakened to a cyclonic storm on Wednesday, as it barrelled towards north coastal Andhra Pradesh, packing wind speed of 85 km per hour, the Met Department said.

The weather system is likely to further lose steam and turn into a depression by Thursday morning, it said.

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