Brokerage house Motilal Oswal Financial Services on Thursday reported a 35 per cent fall in net income at Rs 300 crore in the three months to March, even though its revenue grew by 21 per cent to Rs 1,100 crore.

The company had posted a net income of Rs 461 crore in the year-ago period.

For the full year, the company, which also has a home loan arm, reported a 33 per cent uptick in revenue at Rs 4,051 crore and earned a net income of Rs 1,310 crore, which is a growth of 4 per cent.

Private sector insurer SBI Life Insurance reported a 26 per cent jump in net profit in the January-March quarter (Q4FY22), aided by premium growth. The insurer reported a net profit of Rs 672 crore in the quarter compared to Rs 532.38 crore in the year-ago period, beating street estimates.

Its premiums increased by 12 per cent year-on-year (YoY) to Rs 17,434 crore, with the first year premium growing by 5.3 per cent. Renewal and single premium of the insurer grew by 14.6 per cent and 11.2 per cent, respectively, in the same period.

India on Thursday reported 3,303 fresh COVID-19 cases that took its tally to 4,30,68,799, while the active cases increased to 16,980, according to Union health ministry data.

The daily cases crossed the 3,000-mark after 46 days.

The death toll due to COVID-19 climbed to 5,23,693 with 39 more fatalities, the data updated at 8 am stated.

Shares of Poona Dal & Oil Industries hit a record high of Rs 103.15 and were locked at the 10 per cent upper circuit on the BSE in Thursday’s intra-day trade on the back of heavy volumes. In the past four trading days, the stock of the edible oil company has zoomed 86 per cent from a level of Rs 55.60 on Friday, April 22, 2022.

Till 10:35 AM; around 76,000 shares had changed hands and there were pending buy orders for 30,619 shares on the BSE, the exchange data shows.

Shares of Mahindra Lifespace Developers Ltd jumped nearly 8 per cent in morning trade on Thursday, after the company reported a consolidated net profit of Rs 154.5 crore for the last fiscal.

The stock gained 6.17 per cent to Rs 392.60 on the BSE.

At the NSE, it rallied 7.66 per cent to Rs 398.20.

Realty firm Godrej Properties Ltd on Thursday said it has acquired a 58-acre land parcel in Nagpur to develop a residential project as part of its strategy to expand business.

The company, which is part of Godrej group, did not disclose the value of this land deal.

The development on this land will comprise primarily of plotted residential units, the company said in a regulatory filing.

Indifi Technologies, lending platform for MSMEs, announced the appointment of Rajnish Kumar, former chairman of the State Bank of India, as an advisor. In this capacity, Kumar will engage with the management on the company’s growth strategy and provide guidance in the financial services sector.

He currently sits on the boards of HSBC Asia Pacific, L&T Infotech, Hero MotoCorp and BharatPe.

Around seven IndiGo pilots are under investigation after they using expletives on radio while operating aircraft.

The pilots were expressing unhappiness over the airline's delay in restoring the pre-Covid salaries and vented ire on 121.5 MHz frequency.

He co-founded software powerhouse Infosys Ltd., became a billionaire and went on to spearhead a colossal government program to create biometric identification for India’s almost 1.4 billion people.

Now 66, Nandan Nilekani has one more ambitious goal. The high-profile mogul is helping Prime Minister Narendra Modi build an open technology network that seeks to level the playing field for small merchants in the country’s fragmented but fast-growing $1 trillion retail market.

Maruti Suzuki India (MSI) on Wednesday said it has joined hands with Indian Bank to facilitate easy finance for customers.

As part of the partnership, the company's customers can avail the loan benefits in over 5,700 plus branches of Indian Bank at metro, urban, semi-urban and rural locations.

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