Tuesday, August 25
IIFL Finance on Friday appointed former Reserve Bank of India Deputy Governor B P Kanungo as the non-executive chairman of its board, strengthening its leadership with a seasoned central banking and regulatory expert. The company said its board approved Kanungo’s appointment with immediate effect at a meeting held on Friday, signalling confidence in his leadership, independence, and deep regulatory and institutional expertise, according to a regulatory filing. Kanungo brings more than four decades of experience in central banking, monetary policy, and financial regulation. He served as Deputy Governor of the Reserve Bank of India from 2017 to 2021 and was also a member of the Monetary Policy Committee. He is currently a non-executive independent director on the board of IIFL Finance Ltd.
While India’s second-largest IT services company, Infosys, has rejected any material reasons for the outsized surge in its American Depositary Receipts (ADRs) on the New York Stock Exchange (NYSE) on Friday, a report by a Canada-based newspaper, The Chronicle Journal, has linked the development to a bizarre technical glitch involving ticker mapping."The "mystery" behind the move appears to be rooted in a bizarre technical glitch involving ticker mapping. In the days leading up to the surge, several prominent financial data providers—including Zacks Investment Research and MarketBeat—began erroneously identifying the "INFY" ticker as "American Noble Gas Inc." in their automated reports," it said in a report."While the financial metrics and news headlines attached to the ticker still r
Reliance Industries is expected to soon make a significant equity investment in its unit Reliance Consumer Products (RCPL) with the Mukesh Ambani-owned flagship increasing the latter's authorised share capital manyfold.RCPL's authorised share capital has been expanded to ₹10,000 crore, showed latest filings by the fast-moving consumer goods (FMCG) company to the Registrar of Companies (RoC). This was executed through a mix of six billion equity shares of ₹10 each, and four billion preference shares of ₹10 each, as per the filings. The latest step follows a restructuring of the FMCG business, making it a direct subsidiary of the ultimate parent entity, RIL, with effect from December 1. RCPL was earlier a direct unit of RIL's retail business holding company, Reliance Retail Ventures (R
Parle Agro, which owns popular beverage brands such as Frooti, Appy, SMOODH and Bailley, has recorded a multi-fold growth in its consolidated net profit at Rs 115.38 crore in FY25, while revenue rose 5 per cent to Rs 3,284.13 crore. Its total income, which includes other income, was at Rs 3,370.14 crore, up 5 per cent annually in the fiscal year ended March, 2025, according to financial data accessed through business intelligence platform Tofler. Parle Agro's net profit was at Rs 17.3 crore, and its revenue from operations was at 3,126.06 crore a year before in FY24. Its advertising promotional expenses declined 7.74 per cent to Rs 256.83 crore in FY25 as against Rs 278.38 crore recorded in FY24. Prakash J Chauhan-led Parle Agro is an unlisted entity which mainly operates in the Indian bev
