New Delhi: Public sector lender Indian Bank has reported a stellar set of financial results for the quarter ended June 30, 2026, triggering immediate market optimism. The Chennai-headquartered bank reported a 10.09% rise in profits to ₹3,273 crore as the bank worked to improve its asset quality. Along with that, it reported a total income of ₹20,724 crore during the quarter, from ₹18,721 crore during the same quarter last year. Its Net Interest Income (NII) also increased to 16.9% YoY to ₹7,435 crore with the domestic NIM improving to 3.41% in June 2026 from 3.35% in June 2025. The Bank…
Author: Abizar Attari
Abizar Attari
Abizar has been writing before AI started to take over your lives! His expertise lies in analysing diverse perspectives and simplifying them for laymen. Beyond writing, storytelling and editing, he enjoys running, learning and enjoying the outdoors.
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New Delhi: After ICICI Prudential Mutual Fund, HDFC Asset Management and Aditya Birla Sun Life, now SBI’s Mutual Fund arm SBI Funds Management (SBI MF) is looking to offload about 11% of its stake along with its Joint Venture partner, Europe-based Amundi. Before the company raises money through its IPO on July 14, it is looking to sell 1.42%(28.8 million shares) of its shares to leading investors, including 360 ONE Funds, Go Digit General Insurance, Tata AIG General Insurance and several family offices and alternative investment funds. Following the pre-IPO placement, the asset management company is looking to sell 203.7…
Mumbai: Leading IT bellwether Tata Consultancy Services (TCS) reported a flat 2.7% year on year (YoY) growth in revenue to ₹72, 673 crore for the quarter ended June 2026 from ₹70,725 crore last year. In constant currency terms, revenue has grown 3.2% year on year and 0.4% sequentially. The net profit for the quarter was ₹13,914 crore, a 2.7% decline from ₹14,228 crore in Q1 FY26. This came after the company had to pay ₹668 to settle the trade secrets lawsuits with DXC Technology following the rejection of its appeal. The company has also seen its operating profits lower to…
New Delhi: As part of the government’s push to strengthen the Make In India initiative, the Finance Ministry has exempted custom duty on select electronics used in the manufacture of lithium-ion cells, inductor coil modules and display assemblies, it said in a notification on Wednesday. These exemptions, applicable immediately, will remain in force till March 31, 2029, allowing manufacturers to import specialised machines and equipment for use across the production process. Key imported inputs in manufacturing display assemblies, automotive, medical and industrial equipment are the biggest beneficiaries. Exempted inputs include display cells, backlight units, frames, antisotripic conductive film (ACF) and…
Mumbai: Just as when the world was preparing for the dust to settle through the US-Iran ceasefire, US President Donald Trump has backtracked on the peace by saying that the Memorandum of Understanding (MoU) with Iran was ‘over’. This, along with fresh US military strikes on Iran on Tuesday, July 7, has threatened the fragile peace in the region, jeopardizing the recovery expected by the markets around the world. For India, the highly anticipated mega IPO pipeline is at risk, as PhonePe, NSE and Jio Platforms look to raise ₹2.5 lakh crore from the markets. PhonePe has already suspended its…
Bengaluru: Biocon Biologics Limited is now a step closer to launching its Aflibercept biosimilar, after gaining approval from the US FDA under the name Yesafili in May 2024. It has published Phase III data from its INSIGHT program evaluating the clinical evidence in two peer-reviewed journals to support the treatment of diabetic macular edema (DME), an ophthalmic disorder. The market for treating DME is about $5.89 billion, currently being served by the reference drug Eylea in the United States. According to the trials, patients who switched from Aflibercept to Yesafili saw proven functional and anatomic outcomes. The Phase III trials…
Mumbai: Strengthening its position as the leading destination for skilled back office work, India has emerged as the preferred destination for retail Global Capability Centres (GCCs), a report by TeamLease Digital revealed. According to the report, India hosted 180 retail linked GCCs, with a market 34% larger than those in Poland, the Phillippinnes, Mexico, Germany, and Egypt combined. Along with this, India’s GCCs lead in AI adoption, with 6-7% penetration, higher than all others reviewed, including Germany. Companies continue to prefer India for its large talent base, business friendly policies, low infrastructure costs and favourable government policies, even as major…
New York: The global tech race could witness a systemic shift as Chinese technology companies are increasingly looking to move away from US-based AI chip suppliers like Nvidia. According to a survey by Bloomberg Intelligence, almost 46% of Chinese executives surveyed say they’d prefer domestically produced chips for their AI accelerator procurement programs, up from 30% earlier. This development comes after Chinese authorities last year summoned leading internet firms including Tencent and ByteDance to explain the reasons for their purchase of Nvidia’s flagship H20 chips, as they expressed concern about data security. Once amongst Nvidia’s largest customers, the Chinese AI…
Bengaluru: Pace Digitek Limited’s material energy-focused subsidiary, Lineage Power Private Limited has completed one year of commercial Battery Energy Storage System (BESS) capacity, producing more than 260 containers. This represents over 1.25 GWh of integrated BESS capacity, one of the largest BESS manufacturing achievements by an Indian company in a year. Pace Digitek and Lineage Power have successfully ramped up their production in the past year, setting up the ecosystem for manufacturing power storage solutions. Their facility at Bidadi integrates engineering, battery system assembly, container fabrication, Power Conversion Systems (PCS), Energy Management Systems (EMS) and EPC capabilities under a single…
Chennai: Marking a major leap in its global expansion plans, Chennai based engineering, procurement, and construction (EPC) major SEPC Limited has announced a Board approved proposal to acquire up to 90% of Abu Dhabi-based Avenir International Engineers and Consultants LLC. The transaction involves a share swap arrangement, with SEPC allotting 153 crore equity shares to Avenir shareholders, offering SEPC a zero cash outflow while helping it expand its reach to the Middle East and North Africa (MENA) region. The transaction is expected to close by December 2026, subject to regulatory approvals. Avenir International Engineers and Consultants LLC serves the oil…
