Manappuram Finance’s consolidated net profit jumped 43 percent growth to Rs 255.59 crore in the quarter ended March 31. VP Nandakumar, MD and CEO of the company, spoke to CNBC-TV18 about the financial results. “West Bengal constitutes around 10 percent of our microfinance institutions (MFI) portfolio and Odisha constitutes around Rs 100 crore. Our preference […]

New Delhi, Telecom major Bharti AirtelNSE -0.49 % on Monday said that it has partnered with HDFC Life Insurance to bundle an insurance cover with its Rs 249 prepaid plan. The insurance cover would be of Rs 4 lakh, Airtel said in a statement. “Airtel has launched a prepaid bundle that will come with an in-built life insurance cover […]

This stock quotes at Rs 6 on BSE, pays Rs 15 dividend every year, but does not trade. There are buyers ready to pay 15,000 times its current price, but no sellers. A headache not just for investors, but also for stock exchanges! Elcid Investments is a microcap company, but it is one of the promoter […]

BNP Paribas Cardif on Friday sold 5 crore shares of SBI Life Insurance through a block deal for Rs 2,889 crore, which saw shares skidding over 6 per cent on the local bourses. SBI Life Insurance is a joint venture life insurance company between State Bank of India, the country’s largest bank, and French multinational […]

Nomura India has a buy call on ICICI Prudential Life Insurance Company with a target price of Rs 430. The current market price of ICICI Prudential Life Insurance Company is Rs 333.50. Time period given by the brokerage is one year when ICICI Prudential Life Insurance Company price can reach the defined target. Investment rationale by […]

Non-banking financial company L&T Finance is planning to raise up to Rs 1,500 crore through non-convertible debenture issues in three tranches. The base size of the issue, which is opening on March 6 and closing on 20, is Rs 500 crore, with an option to retain over-subscription up to Rs 1,000 crore, company said on […]

NEW DELHI: Total gross loan portfolio of the microfinance industry stands at Rs 65,090 crore at the end of the third quarter, showing an increase of 6 per cent from the previous quarter and an annual growth of 37 per cent, according to a report by Sa-Dhan. The report is based on data provided by 124 microfinance institutions. Combined microcredit portfolio of all lenders […]

A Karnataka-based businessman has been jailed for six months for allegedly not filing his income tax arrears and interest of around Rs 7.35 crore despite reminders, an official said on Saturday. “The defaulter was arrested on Friday for failing to pay his tax arrears and produced before the Tax Recovery Officer (TRO) from where he […]

Non-banking finance company Manappuram Finance Ltd Wednesday has posted a 42.15 per cent rise in its profit after tax for the third quarter ending December 31, 2018 at Rs 244.11 crore. The company had recorded Rs 171.73 crore during the same period of last year. Income from operations for the October-December 2018 quarter grew by […]

The Modi government had implemented the anti-benami transactions law. Confiscated benami assets worth Rs 6,900 crore: Income Tax Department  |  Photo Credit: BCCL New Delhi: The Income Tax Department has confiscated assets worth Rs 6,900 crore till now as part of its action under the anti-benami transactions law, the agency said in a public advertisement on Tuesday. […]