Thursday, October 08
HDFC Bank Managing Director and Chief Executive Officer Sashidhar Jagdishan finds himself in trouble after allegations of financial fraud. The Lilavati Kirtilal Mehta Medical Trust, managed by the Mehta family, filed a First Information Report (FIR) against Jagdishan and eight others individuals on June 8, 2023. However, HDFC Bank has denied Lilavati Trust's allegation against its MD and CEO."An FIR...was registered under orders of the Bombay Magistrate Court after a seized cash diary revealed Rs 14.42 crore misappropriated by trustees, of which Rs 2.05 crore was received by Jagdishan, establishing his direct involvement," the Trust had alleged.The FIR has accused the senior official and other, including former employees of HDFC Bank, of misappropriating funds belonging to the trust, which
With Bajaj Finance shares rallying nearly 10% in two days, NBFC stocks have become the Street's favourite after the RBI front-loaded easing with a 50 bps repo rate cut and liquidity injection via a 100 bps CRR cut, a move that many are calling a monetary bazooka. While both banks and NBFCs stand to benefit from the RBI's front-loaded easing, the benefit is disproportionately higher for NBFCs, owing to their fixed-rate loan books and bulk borrowings."We prefer NBFCs and advise investors to sell banks into any sentiment-driven rally," said Seshadri Sen of Emkay Global, citing that the margin impact from front-ended rate cuts is still underappreciated by the market.During Monday's trade, Bajaj Finance jumped over 4%, building on its 5% rally on Friday. The momentum spread across the space —
The shares of Cochin Shipyard on Monday fell 3.6% to their intraday low of Rs 2,305.30 on the BSE as investors chose to book profits after surging 76.3% in the past month.In the last week alone, the stock rallied 30.7% to its weekly high of Rs 2,545 on Friday.The surge was also attributable to the strong investor interest in defence-related stocks, with Cochin Shipyard standing out as a major beneficiary amid growing optimism over India’s naval expansion plans. The stock witnessed a significant rise in trading volumes and outpaced the broader market indices.Cochin Shipyard, the largest public sector shipbuilder in India, has played a pivotal role in the nation’s maritime growth. The company builds and maintains a diverse fleet—including aircraft carriers, patrol vessels, and tankers
Indians made 156 shopping trips to grocery stores in FY25, unchanged since a year ago but the basket size increased in both value and number of packs, said a new report by global research firm Kantar.While they made a purchase once in every 56 hours or close to once in every two days, the average pack sizes have risen by 16%, indicating a shift towards slightly larger quantities. Also, the number of packs rose 13% or by 26 pieces translating into nearly 226 FMCG packs purchased on average compared to 200 packs in FY24. "This indicates confidence returning to the shopper. In addition to this, premiumisation continues, with moderate consumption growth, which leads us to believe that we would see moderate to strong growth in urban FMCG building up in the next quarters," said K Ramakrishnan, m
Bengaluru: From Cannes to skateboards, sarees are making a comeback. And Gen Z, like everything else they do, are making them unique too. There is a new category of influencers making sarees cool again. Larissa D’sa, a travel and lifestyle influencer, with 824,000 followers on Instagram is wearing a kasavu saree with sneakers and skateboarding. Dolly Jain, with nearly two million followers on Instagram, is teaching people how to drape a saree. Jain says, “If you see the numbers also, sarees have made a huge comeback. You can’t tell Gen Z to get a blouse and a petticoat to tie a saree. You have to give them ideas like how to drape a saree on denims, palazzos, or straight pants. And let’s get those crop tops to style it with or style the saree like a gown. These drapes were introduce
