State-owned Bank of India reported a 15% year-on-year rise in net profit to ₹3,016 crore for the fourth quarter ended March 2026, supported by stronger interest income growth and improving asset quality. The bank’s net interest income (NII) increased 11% to ₹6,730 crore in Q4 FY26, compared to ₹6,063 crore in the corresponding quarter last year. Provisions for bad loans declined 10% year-on-year to ₹1,211 crore, helping improve profitability during the quarter. However, the bank’s net interest margin (NIM) moderated slightly to 2.58%, compared to 2.61% a year ago, although it improved marginally from 2.57% in the previous quarter. Non-interest…
Author: Adarsh Kumar
The Rajasthan government has approved investment proposals worth more than ₹2,200 crore across the automobile and textile sectors, as the state intensifies efforts to strengthen industrial development and employment generation. The approvals were cleared by the State Empowered Committee during a meeting chaired by Chief Secretary V Srinivas in Jaipur. According to a senior official from the Industries Department, the proposed investments are expected to create employment opportunities for over 1,600 people once the projects are implemented on the ground. The investment push reflects Rajasthan’s broader strategy to attract manufacturing-led growth across sectors such as automobiles, textiles, renewable energy, and…
Swiggy reported a strong rise in revenue during the fourth quarter of FY26, as growth across food delivery, logistics, and quick commerce businesses helped the company narrow its quarterly losses. According to its quarterly financial results, Swiggy’s revenue from operations increased 44.7% year-on-year to ₹6,383 crore in Q4 FY26, compared to ₹4,410 crore in the same quarter last year. At the same time, the company reduced its quarterly losses by 26% to ₹800 crore, down from ₹1,081 crore in Q4 FY25. For the full fiscal year FY26, Swiggy’s operating revenue rose 51% year-on-year to ₹23,052 crore. However, annual losses widened…
Urban Company reported strong revenue growth in the fourth quarter of FY26, but the company’s aggressive expansion into quick service housekeeping through InstaHelp significantly widened losses during the period. According to its unaudited quarterly financial results sourced from the National Stock Exchange of India (NSE), Urban Company’s revenue from operations grew 43% year-on-year to ₹425.56 crore in Q4 FY26, compared to ₹298.45 crore in the corresponding quarter last year. However, the company’s losses ballooned to ₹99.86 crore during the quarter, largely driven by investments in its newly launched InstaHelp business. The company’s core India Consumer Services segment, excluding InstaHelp, remained…
Tata Power and Bhutan’s Druk Green Power Corporation (DGPC) have expanded their clean energy collaboration with the addition of a 404 MW hydropower project in Bhutan, taking the total planned capacity under the partnership to 5,033 MW. The two companies signed an amendment to their existing Memorandum of Understanding (MoU), originally signed on November 19, 2024, under which they had agreed to jointly develop at least 4,500 MW of hydropower projects in Bhutan. Under the revised agreement, the Nyera Amari I & II Integrated Hydropower Project (404 MW) has now been added to the project pipeline. The development aligns with…
The Enforcement Directorate (ED) has reportedly arrested the three co-founders of Gameskraft in connection with an alleged money laundering investigation linked to the company’s online gaming operations. According to a CNBC-TV18 report citing official sources, the arrested founders include Deepak Singh, Prithvi Raj Singh, and Vikas Taneja. The action has reportedly been taken under the provisions of the Prevention of Money Laundering Act (PMLA). The report stated that the ED carried out searches across multiple locations in Delhi-NCR and Karnataka as part of its ongoing probe into alleged financial irregularities associated with the company’s real-money gaming platforms. The investigation is…
Pawan Gupta, co-founder and former CEO of Fashinza, has exited the company, according to reports. As per Moneycontrol, Gupta has stepped away from day-to-day involvement and is currently exploring opportunities in the artificial intelligence sector. Following his departure, Abhishek Sharma will continue as the sole founder and CEO of the Gurugram-based startup. Fashinza confirmed the development and stated that Gupta’s decision to leave was personal and unrelated to the company’s operational performance. Founded in 2020, Fashinza operates a B2B apparel manufacturing and supply chain platform that connects fashion brands with manufacturers. The startup gained significant investor attention during the peak…
Piramal Finance, the shadow lending arm of billionaire Ajay Piramal Piramal Group, is planning to raise up to $1 billion through foreign currency loans this year to support growing demand for retail credit in India. According to CEO Jairam Sridharan, the Mumbai-based NBFC intends to primarily tap foreign banks and multilateral agencies, with loan tenors ranging between three and five years. The planned fundraising comes at a time when the Indian rupee remains under pressure against the US dollar, increasing hedging costs for companies borrowing overseas. Despite the currency volatility, Piramal Finance believes offshore borrowing remains attractive after factoring in…
Digital lending platform Kissht, operated by OnEMI Technology Solutions, made a strong debut on the Indian stock exchanges, with its shares listing at ₹191 on the BSE, nearly 12% above the IPO issue price of ₹171. On the National Stock Exchange of India (NSE), the stock opened at ₹190. Following the listing, the shares gained further momentum and traded around ₹210 during the session, valuing the company at approximately ₹3,532 crore ($372 million). The listing follows strong investor demand during the IPO subscription period. The issue was subscribed over 9 times, led by institutional participation. According to exchange data, the…
US-based cloud infrastructure company Cloudflare is reportedly preparing to lay off around 20% of its global workforce, impacting more than 1,100 employees, as it restructures operations around artificial intelligence. According to multiple reports, the company is moving toward an “AI-first” operating structure, where a growing share of internal workflows and operational processes will be handled through AI agents and automation tools. The move comes despite Cloudflare reporting strong financial performance in the first quarter of 2026. The company recently posted quarterly revenue of nearly $640 million, surpassing market expectations. However, management believes rapid advances in AI are fundamentally reshaping how…