MoneyWorks4Me

Axis Bank, Indian Bank and ICICI Bank to see some action today

28 Oct 2024 Evaluate

Axis Bank has partnered with Alliance Network India, a subsidiary of OMA Emirates Group - a leader in the UAE payment solutions, for POS aggregation to revolutionize India’s digital payment landscape. The collaboration brings together Axis Bank’s extensive reach along with its expertise in supporting easy transactions, and Alliance Network’s innovative technologies, to provide enhanced and customised solutions driving business growth for merchants.

Indian Bank has raised Rs 5000 crore through the allotment of 7.12%, Senior, Rated, Listed, Unsecured, Redeemable, Long Term, Fully Paid-up, Non-Convertible Bonds in the nature of Debentures, Series II. Date of Allotment is October 25, 2024.  

ICICI Bank has reported a 14.5 per cent increase in standalone Q2 net profit at Rs 11,746 crore, compared to Rs 10,261 crore in the year ago period. Its net interest income grew 9.5 per cent to Rs 20,048 crore during the quarter, compared to Rs 18,307.9 crore in the previous year quarter, while gross NPA fell to 1.97 per cent from 2.15 per cent sequentially. 

NTPC has partnered with the Indian Army to establish a Solar Hydrogen-based Microgrid at Chushul, Ladakh. This significant step will provide a stable power supply using Green Hydrogen in off-grid Army locations. 

Bandhan Bank has reported 29.99% rise in its net profit at Rs 937.45 crore for the quarter ended September 30, 2024 as compared to Rs 721.17 crore for the same quarter in the previous year. Total income of the bank increased by 21.11% at Rs 6,094.53 crore for Q2FY25 as compared to Rs 5,032.19 crore for the corresponding quarter previous year.

Bharat Petroleum Corporation (BPCL) has received approval for entering into a joint venture (JV) agreement with Oil India, for the purpose of developing City Gas Distribution (CGD) project in the state of Arunachal Pradesh. The Authorized Capital of the JV is Rs 125 crore. 

Ballarpur Industries has received approval for issuance of Non-cumulative Non-Convertible redeemable preference shares on private placement basis for an aggregate amount not exceeding around Rs 120 crore in one or more tranches on private placement basis. The proceeds of the issue will be utilized towards redemption of existing Redeemable Preference Shares of the Company. The Board of Directors of the Company at their meeting held on October 25, 2024, inter-alia, has approved the same. 

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