Non-bank lender Piramal Finance reported a sharp improvement in profitability for the December quarter, with net profit jumping to ₹401 crore, compared with ₹39 crore in the same period last year, supported by strong asset growth, margin expansion and controlled costs. The company’s managing director and chief executive officer, Jairam Sridharan, said the performance was driven by a combination of higher assets under management (AUM), improved net interest margins (NIMs), disciplined operating expenses and lower credit costs. AUM Growth and Margin Expansion During the quarter, Piramal Finance’s AUM grew by over 23% year-on-year, while NIMs expanded by 50 basis points…
Author: Adarsh Kumar
PepsiCo India on Friday announced the appointment of Savitha Balachandran as its new Chief Financial Officer for India and South Asia, marking a key leadership transition at the consumer goods major. Balachandran will succeed Kaushik Mitra, who is set to retire on April 15 after a 24-year career with PepsiCo. The company said she will take charge following a structured transition period. In her new role, Balachandran will oversee PepsiCo’s finance function across India and South Asia, with responsibilities spanning financial strategy, governance, risk management and performance oversight. She will also work closely with the leadership team to support the…
The World Bank has approved an $815 million long-term financing package for the 1,125 MW Dorjilung Hydropower Project in Bhutan, a project backed by Tata Power, which holds a 40% stake. The remaining 60% stake in the project’s special purpose vehicle is owned by Bhutan’s state run Druk Green Power Corporation (DGPC). Tata Power said the World Bank’s Board of Executive Directors has approved the financing for the project, which will be developed under a public-private partnership (PPP) framework. Financing Structure The approved funding package includes: The remaining funding requirement for the project will be mobilised from market participants and…
Shares of Adani Group companies erased nearly $12.5 billion in market capitalisation on Friday after the US Securities and Exchange Commission sought court permission to serve summons to group founder Gautam Adani and executive Sagar Adani via email in connection with an alleged bribery and fraud investigation. Adani Enterprises Leads Declines On Friday, Adani Enterprises emerged as the top percentage loser on the Nifty 50, with its shares falling 10.65% to ₹1,864.20, compared with a 0.95% decline in the benchmark index. Across the group, shares ended the session down between 3.4% and 14.54%, reflecting broad-based investor concern following the US…
Infra.Market and Purple Style Labs (PSL) have received approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings, according to observations issued by the market regulator. The clearances mark another step forward in the revival of India’s primary markets pipeline, with multiple new age and consumer-focused companies lining up for public listings. Infra.Market’s Rs 5,000 Cr IPO plan Infra.Market’s approval comes nearly three months after the building materials unicorn confidentially filed its draft red herring prospectus (DRHP) with SEBI. The Mumbai-based company is looking to raise Rs 5,000 crore through its IPO. The proposed…
The Reserve Bank of India on Friday announced a fresh set of liquidity infusion measures worth more than $23 billion, as it seeks to ease tightening conditions in the banking system while managing pressure on the rupee. Under Governor Sanjay Malhotra, the central bank has stepped up durable liquidity support over the past year to reinforce policy rate cuts and offset the impact of its foreign exchange market interventions. Multi-pronged liquidity injection plan As part of the announced measures, the RBI will conduct its first-ever 90-day variable rate repo (VRR) operation of ₹250 billion ($2.7 billion) on January 30. The…
US memory chipmaker Micron Technology is set to start commercial semiconductor production by the end of February at its $2.75 billion assembly and testing facility in Sanand, Gujarat, Union minister for electronics and IT Ashwini Vaishnaw said on the sidelines of the World Economic Forum in Davos. Vaishnaw said pilot production has already commenced at several approved semiconductor facilities in India, with commercial output expected to scale up in the coming weeks. The Sanand facility marks a key milestone in India’s efforts to build a domestic semiconductor manufacturing ecosystem under its long-term electronics strategy. India’s long-term semiconductor roadmap Speaking on…
IndusInd Bank has announced a key leadership change at the board level, with Arijit Basu set to take over as its new chairman following regulatory approval. The bank said that Sunil Mehta will cease to be part-time chairman and director upon completion of his tenure on January 30, and Basu will assume charge as non-executive chairman from January 31, after receiving approval from the Reserve Bank of India. Arijit Basu Resigns From HDB Financial Ahead of his appointment at IndusInd Bank, Arijit Basu resigned as chairman and non-executive independent director of HDB Financial Services with immediate effect. In his resignation…
The Karnataka High Court on Friday set aside the Karnataka government’s ban on bike taxi operations, allowing ride-hailing platforms such as Rapido, ola and Uber to seek permissions to restart services in the state. A division bench comprising Chief Justice Vibhu Bakhru and Justice C M Joshi allowed appeals filed by ride-hailing companies and the Bike Taxi Welfare Association, overturning a single-judge order passed in April 2025 that had suspended bike taxi operations until the state framed a formal policy. Motorcycles Qualify as Transport Vehicles In its ruling, the High Court held that motorcycles fall within the definition of “transport…
Omnichannel beauty and personal care platform Purplle delivered a standout performance in FY25, more than doubling its operating revenue while significantly narrowing losses, underscoring the scale it has achieved over the past five years. According to consolidated financial statements filed with the Registrar of Companies (RoC), Purplle’s revenue from operations rose to ₹1,367 crore in FY25, up from ₹680 crore in FY24. The latest numbers mark a sharp inflection in the company’s growth journey, with operating revenue expanding over 10x since FY21, when it stood at ₹128 crore. Founded in 2012, Purplle operates a dual business model comprising a third-party…