Page 4 - Aditya Birla Capital

Veteran Banker Romesh Sobti set to join Aditya Birla Capital board

Rehauling of business strategy is presently underway; set to approach the RBI for banking license once final guidelines is released

Aditya Birla Capital: High on diversification, not much on conviction

Lending businesses accounting for about half of its valuations remain laggards

Aditya Birla Capital profit down 27% at Rs 198 crore in June quarter

Aditya Birla Capital on Friday reported nearly 27 per cent fall in consolidated net profit at Rs 198 crore for June quarter, 2020-21. The holding company of the financial services businesses of the Aditya Birla group had a profit of Rs 270 crore in the year-ago same period. The revenue grew 9 per cent year-on- year to Rs 4,293 crore during April-June 2020-21, Aditya Birla Capital Ltd (ABCL) said in a release. ABCL said the profit during April-June was higher than Rs 144 crore in the preceding March quarter and it provided Rs 62 crore as COVID-19 provisions on its lending businesses during the period under review. "With 91 per cent of its branches operational with strict health protocols, the company looked to normalise its operations through Q1FY21," it added. Overall lending book (NBFC and Housing Finance) stood at Rs 58,073 crore as on June 30, 2020. The company is engaged in lending through NBFC and housing finance. It also has presence in life and health insurance segment an

Covid-19 impact: Six of the top 10 family-owned businesses in the red

Leading business houses report pre-tax loss of Rs 19,342 crore in Q4

12 firms to list commercial papers for Rs 8,215 cr issue size: BSE

As many as 12 companies have filed applications with the BSE to list their commercial papers on the bourse for a total issue size of Rs 8,215 crore, the exchange said on Monday. The firms that have made applications are SBI Cards and Payment Services Ltd, Birla Group Holdings Pvt Ltd, National Housing Bank, Aditya Birla Capital Ltd, Larsen & Toubro Ltd, SBI Cards and Payment Services Ltd, BASF India Ltd, The Ramco Cements Ltd, Aarti Industries Ltd, HT Media Ltd, GIC Housing Finance Ltd and Himadri Speciality Chemical Ltd. After the process, the effective date for listing of commercial papers (CPs) at the BSE is December 31, the BSE said in a release. "Till date, 50 issuers have done 182 issuances of commercial papers and have successfully listed CPs of Rs 70,210 crore on the BSE. The weighted average yield of these issuances is 6.42 per cent with an average tenor of 161 days," it added. A CP is an unsecured money market instrument issued in the form of promissory notes that ...

AB Capital: a case of growing mismatch in fundamentals and price movement

Confidence on the stock remains high despite systemic concerns

Grasim Industries Q2 net jumps to Rs 1,473 cr on good show by subsidiaries

Grasim Industries had reported a net loss of Rs 1,319.79 crore in the September quarter a year ago

CCI approves 4% stake buy in Aditya Birla Capital by Jomei Investments

Jomei Investments is a special purpose vehicle owned by Advent International Corporation while ABCL is the holding company of the financial services businesses of the Aditya Birla Group

Top 10 biz headlines: Faster GST refunds, million auto jobs at risk & more

From a single-authority mechanism for processing GST refunds to exporters coming soon to NCLT approving JSW Steel's Rs 19,700-cr bid for Bhushan Power & Steel, here are today's top business news

Aditya Birla Capital to raise Rs 2,100 crore from promoter, PE firms

US-based private equity firm Advent International will put in Rs 1,000 crore via its affiliate Jomei Investment Limited

Aditya Birla Capital Q1 net up 27% to Rs 270 cr; revenue at Rs 3962 cr

The company said the profit during the period under review was largely driven by growth in NBFC, housing finance and asset management businesses

Aditya Birla Capital Q3 net up 42% on strong NBFC, home loan, MF biz

Revenues up 26% to Rs 4,119 crore; lending book expands 29% to Rs 60,129 crore

Aditya Birla Capital disappoints despite strong potential

However, asking price of 1.8x its FY20 book value a key positive for stock

Varde Partners, Aditya Birla Capital creating joint venture to invest $1 bn

The US investment firm and Indian financial services provider, helmed by billionaire Kumar Mangalam Birla, are expected to deploy this sum over three years

Aditya Birla Capital to push retail, small and medium enterprise loan book

The Aditya Birla Group invested about Rs 2.5 billion in April-December 2017 in the housing finance business

Aditya Birla Capital Q3 net up at Rs 2 bn; revenue rises to Rs 33 bn

The company stock closed flat at Rs 167 per share on Bombay Stock Exchange

ABCL pitches for a united front

Aditya Birla Capital opts for an image overhaul, groups multiple businesses under a single, simplified brand identity

Aditya Birla Capital extends rally on credit ratings upgrade of arms

The stock rallied 8% to Rs 210, extending its 9% gain in past two trading sessions on the BSE on back of heavy volumes.

Aditya Birla Capital up 5% after falling 14% in three days post listing

The stock was up 5% at Rs 213.85, bouncing back 10% from its early morning low of Rs 193.55 on NSE.

Aditya Birla Capital: Advantage of a financial conglomerate

NBFC, asset management, life insurance and housing finance are among the fast-growing businesses