On August 13, 2024, IntellectAI, part of Intellect Design Arena Ltd, introduced Purple Fabric, a new platform designed to speed up the use of AI in financial institutions. Built on the advanced eMACH.ai platform, Purple Fabric moves beyond simple automation to provide connected intelligence, helping financial institutions make a significant business impact. While AI was …
Campus Activewear, India’s leading sports and athleisure footwear brand, released its Q1 FY25 results, revealing a challenging quarter. The company’s financial performance was notably impacted by a subdued market environment. Subdued Earnings Amid Market Challenges Campus Activewear reported a revenue of Rs. 339.2 crore for Q1 FY25, marking a 4.1% year-over-year decline. The company’s Profit …
The Indian telecommunications company Vodafone Idea, also referred to as Vi, has its main offices in Gandhinagar and Mumbai. It is a GSM operator that is integrated throughout all of India and offers mobile phone services. As of June 30, 2024, Vi has a subscriber base of 219.08 million, making it the third-largest mobile telecommunications …
Marico Ltd., a leading FMCG company, announced the resumption of its manufacturing operations in Bangladesh on August 13. The company, which had faced disruptions due to the ongoing political and social turmoil in the country, is now operating at its normal scale as market conditions show signs of improvement. Resumption of Operations Amid Improved Market …
On August 13, 2024, Sundaram Finance Limited (SFL) announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2024, showcasing significant growth and continued operational excellence. Standalone Performance Highlights For Q1FY25, Sundaram Finance reported a 7% increase in disbursements, totalling ₹6,908 crore compared to ₹6,489 crore in Q1FY24. The company’s assets …
HDFC Bank and ICICI Bank are titans in India’s banking sector, holding the top two positions in terms of market capitalisation. As of August 13, 2024, HDFC Bank leads with a market cap of ₹12,26,416.43 crore, while ICICI Bank follows with ₹8,27,982.53 crore. This article compares their financial performance for the quarter ending June 30, …
Muthoot Microfin, a leading microfinance lender, is actively negotiating with two European investors to secure $50 million in external commercial borrowing (ECB). The lender is aiming to reduce its overall funding costs and subsequently pass on the interest rate benefits to its bottom-of-the-pyramid customers. Sadaf Sayeed, the chief executive of Muthoot Microfin, indicated that the …
On Monday, the Delhi High Court issued a stern directive to the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) to expedite their investigations into the alleged fraudulent activities perpetrated by Max Life Insurance and Max Financial Services. A bench led by acting Chief Justice Manmohan rejected a petition …
L&T Technology Services (LTTS), a global leader in engineering, digital, and research and development services, has entered into a long-term strategic partnership with Shell, one of the world’s largest energy companies. Under this multi-year framework agreement, LTTS will provide comprehensive engineering and procurement services, along with advanced digital solutions, data governance, and project management consultancy …
On August 12, 2024, Wardwizard Innovations & Mobility Limited announced that its Board of Directors approved an investment of up to 1,00,000 Singapore Dollars (SGD) in its wholly-owned subsidiary, Wardwizard Global PTE. LTD. Wardwizard Global PTE LTD is based in Singapore. Wardwizard Global PTE LTD has a paid-up capital of 10,000 ordinary shares, each valued …
