BUSINESS
Kotak Mahindra Bank's Q4 net profit grows 33%
During the same period of FY20, the bank had reported a standalone net profit of Rs 1,266.60 crore. Net Interest Income (NII) for Q4FY21 increased to Rs 3,843 crore, from Rs 3,560 crore in Q4FY20, up 8 per cent and for FY21 increased to Rs 15,340 crore, from Rs 13,500 crore in FY20, up 14 per cent. Net Interest Margin (NIM) for Q4FY21 was at 4.39 per cent.
Govt gives ad hoc IGST exemption on imports of Covid relief material
In view of the coronavirus pandemic, the Central Government has exempted IGST or integrated GST on import of such goods received free of cost for free distribution of Covid relief. The exemption is ad hoc and applicable for all specified imports made till June 30, 2021.
India's manufacturing output inches up as demand rises: PMI
The report by IHS Markit India Manufacturing PMI said economic conditions in India's manufacturing sector remained favourable in April, as companies scaled up production in line with a further improvement in demand.
SpiceJet airlifts 700 oxygen concentrators from Guangzhou
SpiceJet's air cargo arm SpiceXpress on Monday airlifted 700 oxygen concentrators from Guangzhou. The airline has airlifted more than 4,400 oxygen concentrators from the USA, Hong Kong, Singapore and China in the last two weeks. SpiceXpress used its B737 freighter aircraft to airlift the concentrators from Guangzhou.
TVS Motor sold 2.38 lakh units in April
Last year the company had sold 9,640 units in April 2020 when the nation went under Covid-19 lockdown. The company said domestic sales in April 2021 is lower due to lockdowns in many states, but retails continue to be ahead of despatch. Last month company sold 226,193 two wheelers and 12,790 three wheelers.
WinZO gives complete exit to Hike via $12M share buyback
Vernacular social gaming platform WinZO on Monday said it has bought back early investor Hike's shares for $12 million, making it one of the largest buyback transactions by an early stage firm in the Indian start-up ecosystem. The move gives a complete exit to Hike with four-fold returns on their investment in May 2019.
Petrol dealers urge LG to open one side of road at Singhu border
In a letter written to LG, the Delhi Petrol Dealers' Association has said that police should open one side of the road particularly Delhi-Panipat side as farmers have agreed to give way in wake of the wide spread of Covid pandemic. This they said, would also help resume fuel stations operations that has been closed near the border for more than five months bringing income of pump owners to nil.
Equities in red, Sensex falls 700 points
The BSE Sensex plunged as much as 754.29 points to touch an intra-day low of 48,028.07 points. It has, however, recovered from the lows and around 10.15 a.m., it was trading at 48,424.70, lower by 357.66 points or 0.73 per cent from its previous close of 48,782.36.
S Korea captures 31% of global EV battery market in Q1
The trio -- LG Energy Solution, Samsung SDI and SK Innovation-- supplied a combined 47.8 gigawatt-hour (GWh) equivalents of EV batteries in the January-March period, up 127 percent from a year earlier, according to the data by SNE Research.
Ashok Leyland sells 8,340 vehicles in April
Commercial vehicles major Ashok Leyland sold 8,340 vehicles in April, said a company statement. Out of the total sales, 7,961 units were sold in the domestic market.
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