Private sector lender IndusInd Bank today posted a 24 per cent increase in net profit at Rs 1,036 crore in the June quarter on healthy rise in advances and core interest income.
Trade war was the buzz word last week with U.S. imposing higher tariffs on Chinese imports since Friday and the Chinese govt retaliating within hours to impose higher tariffs on goods imported from America.
Private sector lender IndusInd Bank today said it is acquiring infra lender IL&FS' brokerage business for an undisclosed sum.
The Reserve Bank has allowed IndusInd Bank to incorporate a wholly-owned subsidiary for the amalgamation of micro-lender Bharat Financial Inclusion (BFIL) with the bank.
Sensex slipped over 137 pts to 35,325.98 in early trade on heavy selling in power, realty, oil & gas and banking stocks amid sustained capital outflows by foreign funds.
Indian equity indices traded in the positive territory afternoon supported by heavy buying activity in auto, oil and gas and IT stocks.
Sensex erased its initial gains to trade lower by 95.58 points in late morning deals today on selling in metal, energy, banks, financials and IT counters.
The 50-issue NSE Nifty ended at 10,617.80, up 47.25 points, or 0.45 per cent, after shuttling between 10,628.40 and 10,559.65.
"Bharat Financial Inclusion Ltd"(formerly SKS Microfinance Ltd) has said it has approached the SEBI, BSE and NSE for necessary approval for the merger with IndusInd Bank.
IndusInd Bank Ltd posted a nearly 27 percent surge in its fourth-quarter net profit on Thursday, driven by higher interest income.