Reliance Power has become a debt-free company on a standalone basis clearing all outstanding dues to lenders, sources said. The company had a debt of around Rs 800 crore, which has been repaid to banks, they said. Between December 2023 and March 2024, Reliance Power signed multiple debt settlement agreements with various banks, including IDBI Bank, ICICI Bank, Axis Bank and DBS. The company has now repaid the entire debt to these banks, sources said. As a result of that, Reliance Power, on a standalone basis, has become a debt free company. In December 2023, Reliance power sold the development rights of its proposed 1,200 megawatt hydro-electric project in Arunachal Pradesh to THDC for Rs 128 crore. In March 2024, the company sold its 45 MW wind energy project in Vashpet, Maharashtra to JSW Renewable Energy for a consideration of Rs 132 crore. Proceeds from the sale of these projects were used to retire debt. With participation of over 38 lakh retail investors, Reliance Power has
Surpassing the 50,000-mark for the very first time, the index's ascent can also be attributed to robust Q4 GDP figures, and S&P recent upgradation of India's rating to positive
Fitch Ratings on Thursday affirmed the ratings of Axis Bank and ICICI Bank with a stable outlook citing supportive operating environment and large domestic franchise. Fitch Ratings has affirmed India-based Axis Bank and ICICI Bank's Long-Term Issuer Default Rating (IDR) at 'BB+', the global agency said in two separate rating commentaries. Fitch has also affirmed the banks' Government Support Rating (GSR) at 'bb+' and Viability Rating (VR) at 'bb'. Fitch said its IDR ratings reflect expectation of a moderate probability of extraordinary state support from the government relative to large state banks. The agency said its expectation of a supportive operative environment is on account of India's robust medium-term growth potential. Fitch expects GDP growth of 7 per cent in 2024 and 6.5 per cent in 2025, supported by investment prospects. "The economy has been resilient as healthy business sentiment, steady financial markets and the government's capital spending buffered global econom
Axis is focused on companies from countries like South Korea, Japan, US, Germany, Italy and France that have good ties with India
Axis Bank stock price: Shares of Axis Bank surged 6.5 per cent to Rs 1,133 apiece on the BSE in Thursday's intraday trade
Indian stock market on Thursday, April 25: The NSE Nifty ended atop the 22,550 levels, up 156 points; Kotak Bank and HUL, however, bucked the trend.
Stocks to Watch on Thursday, April 25, 2024: The Reserve Bank of India, on Wednesday, directed Kotak Mahindra Bank to stop issue of fresh credit cards and the onboarding of new customers
Stock market preview Thursday, April 25: Global mood turns bitter as Nasdaq futures fall post Meta guidance; HUL, Axis Bank and Indian Hotels to react to Q4 numbers on Dalal Street.
Axis Bank reported net loss of Rs 5728.42 crore in the same period of the previous year
Private sector lender Axis Bank on Wednesday reported a net profit of Rs 7,129 crore for the fourth quarter ended March 31, 2024. The bank had reported a net loss of Rs 5,728 crore in the March quarter of 2022-23 fiscal. Total income rose to Rs 35,990 crore in the March quarter of 2023-24 fiscal, from Rs 28,758 crore in the year-ago period. The bank's Net Interest Income (NII) grew 11 per cent Year-on-Year (YoY) to Rs 13,089 crore. For 2023-24 fiscal, the net profit jumped 160 per cent to Rs 24,861 crore. The numbers for the March quarter of 2022-23 fiscal and the full fiscal include the impact of exceptional items relating to the Citibank business acquisition, Axis Bank said. Its balance sheet grew 12 per cent YoY to Rs 14,77,209 crore as on March 31, 2024. The bank issued 1.24 million new credit cards in the March quarter of FY24 and has been one of the highest credit card issuers in the country over the last nine quarters, Axis Bank said in a regulatory filing. The bank's bo
Stock market Update on Wednesday, April 24: Strong global cues, HUL and Axis Bank Q4 results and monthly F&O expiry in focus today.
Axis Bank credit card changes will affect lounge access, rewards programmes, and additional services for various card tiers
Stocks to Watch on Wednesday, April 24, 2024: Axis Bank, Hindustan Unilever, LTIMindtree, The Indian Hotels Co., and AU Small Finance Bank are among the companies which will report Q4FY24 result today
Stock market preview Wednesday, April 24: Global cues remain supportive; HUL, Axis Bank results coupled with upcoming monthly F&O expiry may induce market volatility today.
Axis Bank Q4FY24 results preview: Analysts expect Axis Bank's loan book to rise 15 per cent year-on-year
Axis Finance and IDBI had challenged the merger in NCLAT
Among the buyers were a clutch of domestic as well as foreign funds
Bain sold 33.4 million shares in the block trade, according to a term sheet reviewed by Reuters
Stocks to watch on Tuesday, April 09, 2024: Tata Motors JLR sales rose 11% in Q4; Bain Capital to sell balance stake in Axis Bank; FADA warns of slower retail auto sales.
The price range for the share sale has been set at Rs 1,071 - Rs 1,076 per share, a discount of up to 0.47 per cent to Axis Bank's last close of Rs 1,076 per share