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Private sector lender IndusInd Bank may tap Axis Bank deputy MD Rajiv Anand for the MD, CEO role at the lender, after former CEO Sumant Kathpalia resigned from his post taking moral responsibility for the discrepancies found in the lender’s derivatives portfolio, sources say. “…Obviously, Rajiv would be one of the candidates. Whether he wants (to be the CEO) is up to his discretion. The size of IndusInd Bank, its brand, is very different from Axis. He came from a mutual fund background, he is a CA, and handled retail, wholesale segments and understands treasury quite well…,” a source said.
Automobile stocks: It was mixed sales figures from automobile companies in April. Utility vehicles manufacturer M&M recorded a growth of 28 per cent year on year in its domestic wholesales (dispatches to dealers) to 52,330 units in April as compared with 41,008 in April 2024. Similarly, Tata Motors has reported a decline of 6 per cent in its domestic sales to 45,199 units. Hyundai Motors India Ltd reported domestic wholesales of 44,374 units in April (50,201 units), down 11.6 per cent. PV maker Maruti Suzuki India (MSIL), meanwhile, managed to grow marginally by selling 1,38,704 units in the domestic market in April. n the two-wheeler segment, TVS Motor reported growth in April on yearly basis. Some of the other will declare results today.
Eternal Ltd (formerly known as Zomato Ltd) on Thursday said it is shutting down its Zomato Quick offering due to issues around viability and sluggish incremental demand. It is also shutting down its Everyday initiative, which focused on delivering home-style meals. The food delivery platform had launched Zomato Quick, delivering food in 15 minutes, in January. The company is continuing to run Bistro by Blinkit which competes with players such as Swiggy Snacc and Zepto Cafe.
Private equity major Warburg Pincus has sought fair trade regulator CCI’s approval to acquire 10 per cent stake in private sector lender IDFC First Bank. The US-based Warburg Pincus through its arm Currant Sea Investments BV will acquire the stake in IDFC First Bank. The acquirer (Currant Sea Investments B V) proposes to acquire up to 9.99 per cent of the paid up share capital (on a fully diluted basis) of the target (IDFC First Bank) by way of subscription to 81,26,94,722 compulsorily convertible cumulative preference shares, a notice filed with the CCI said on April 28. The deal has been notifiable to the Competition Commission of India under Section 5(a)(i)(A) of the Competition Act, 2002, it added.
Dixon Technologies has entered into a joint venture agreement with Taiwanese IT hardware giant Inventec Corporation for manufacturing personal computers, components and servers in India. The joint venture, Dixon IT Devices Private Limited, will focus on manufacturing notebook PC products, desktop PC products, including components, and servers within India, according to a regulatory filing.
Gland Pharma has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Latanoprostene Bunod Ophthalmic Solution, 0.024 per cent. The Product is indicated for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension. Gland Pharma is the exclusive First-to-File and is eligible for 180 days of generic drug exclusivity. According to IQVIA, the product had US sales of around $171 million for the twelve months ending February 2025.
Hindustan Petroleum Corporation (HPCL) and ADNOC Trading have signed LNG Trading Supply Agreement. This Agreement marks a significant step in the strategic partnership between the two organisations, fostering energy security and sustainability.
Diamond Power Infrastructure (DPIL) has received a letter of intent (LoI) from Adani Electricity Mumbai worth Rs 71.46 crore basic value for supply of Assorted sizes of LT Cable on DAP basis at Adani Electricity Mumbai (AEML) Mumbai / DTPS Stores (Site) for Mumbai Distribution Business (Project). The order has been awarded on Kms rate basis with PV Formulae. The said order is expected to be executed by March 2026.
NCC informed the exchanges that it has secured fresh orders worth ₹1,663 crore during April 2025. Out of these orders Rs 1,082 crore relates to Building Division and Rs 581 Cr to transportation Division. These orders are received from state Government Agencies, and and private Limited company and do not include any internal orders, it further said.
RateGain Travel Technologies announced the launch of Smart ARI, the industry’s first AI-powered ARI (Availability, Rates, Inventory) management engine, helping hotels push real time ARI updates and reducing infrastructure costs for demand partners.
Results Calendar: Ami Organics, Marico, Godrej Properties, Archean Chemical Industries, Aether Industries, City Union Bank, Deep Industries, Gravita India, Indian Overseas Bank, InfoBean Technologies, Jindal Saw, Latent View Analytics, Newgen Software, Nitco, Parag Milk Foods, PNB Gilts, R R Kabel, Sanofi Consumer Healthcare India, Subex, Sunteck Realty, Tatva Chintan Pharma Chem, TRF and V-Mart Retail.
Published on May 2, 2025
This article first appeared on The Hindu Business Line
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