Stocks to watch: IndusInd Bank, BEL, IDFC First Bank, Tata Chemicals, CDSL among shares in focus today
IDFC First Bank posted a 32% year-on-year drop in its profit after tax (PAT), which stood at ₹ 463 crore for the first quarter of the financial year 2026.
NTPC Green has entered into a Memorandum of Understanding (MoU) with Bihar State Power Generation Company Limited (BSPGCL) to jointly develop Battery Energy Storage Systems and Renewable Energy Projects.
The lender posted a net profit of ₹ 3,281.7 crore for the June quarter, falling short of market expectations of ₹ 3,442 crore.
The Maharatna company posted a steep year-on-year increase of 811% in its Q1FY26 net profit, reaching ₹ 744.5 crore.
Ola Electric's board has approved changes to the planned use of IPO proceeds, including modifications to the original objectives and an extension of the timeline for their utilisation.
SBI Cards posted a net profit of ₹ 556 crore for the quarter ended June 2025, marking a 6% decline compared to the same period last year.
CDSL posted a drop in its net profit and EBITDA for the first quarter. The company's net profit fell by 23.6% to ₹ 102.4 crore in the June quarter, compared to ₹ 134 crore during the same period last year.
Tata Chemicals posted a significant 68% year-on-year increase in consolidated net profit for the quarter ended June 2025, with earnings reaching ₹ 252 crore.
The financial services firm reported a steep drop in net profit for Q1 FY26, falling to ₹ 62.6 crore from ₹ 291.6 crore in the same period last year, despite a 11% year-on-year increase in net interest income (NII) to ₹ 639 crore.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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Economic Times
6 minutes ago
- Economic Times
IndusInd Bank appoints Axis Bank's Rajiv Anand as CEO, MD for three years
IndusInd Bank on Monday announced that it has approved the appointment of veteran Rajiv Anand as its chief executive officer for a period of three years. ADVERTISEMENT The appointment is effective from August 25, 2025 upto August 24, 2028, the lender informed through stock exchange filing. The new appointment of the banking veteran comes as the lender was functioning been without a full-time CEO since Sumant Kathpalia resigned at the end of April, taking moral responsibility for the derivatives accounting controversy. In the interim, the bank was being managed by a committee of senior executives including Soumitra Sen, head of consumer banking, and Anil Rao, chief administrative officer. Anand retired as deputy managing director of Axis Bank on August 3 upon completion of his third term as a director on the bank's board. ET had reported that Anand was seen as the frontrunner for the role. Anand, 59, is a chartered accountant with over 35 years of experience across asset management, retail banking, and wholesale banking. He joined Axis Group in 2009 as founding managing director of Axis Asset Management Co. In 2013, he transitioned to Axis Bank as president of retail banking and later assumed leadership of its wholesale banking division in 2018. IndusInd Bank is under intense scrutiny due to a substantial Rs 1,960-crore loss linked to misaccounted internal derivative trades. According to the bank, the losses were primarily the result of inaccurate accounting for internal derivative trades, particularly where contracts were terminated early. These errors led to inflated notional profits, concealing the true financial state of the derivatives portfolio over multiple reporting periods. ADVERTISEMENT ( Originally published on Aug 04, 2025 )
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Business Standard
31 minutes ago
- Business Standard
IndusInd Bank appoints Rajiv Anand as MD & CEO for 3 years, effective Aug
IndusInd Bank on Monday announced that its board has appointed Rajiv Anand as the MD&CEO of the bank for a period of three years, effective from August 25, 2025, to August 24, 2028. Anand's appointment has received approval from the Reserve Bank of India (RBI) but is subject to shareholder approval. Anand was one of three candidates recommended by the bank's board to the RBI for the position of MD&CEO. The RBI had given the board until June 30 to submit its list of candidates for the role. Reports had suggested that Anand, Anup Kumar Saha, and Rahul Shukla were the three names sent to the RBI for approval. Prior to this role, Anand was Deputy MD at Axis Bank, where he led the bank's wholesale banking business and was responsible for driving its digital agenda. He joined Axis Asset Management in 2009 as its founding MD&CEO. In subsequent roles, Anand was appointed president of retail banking at Axis Bank and later joined the board as head of Wholesale Banking. Anand holds a degree in Commerce and is a qualified Chartered Accountant. Anand's appointment as MD&CEO follows the resignation of Sumant Kathpalia, the former MD&CEO of the bank, in April, who took moral responsibility for the accounting lapses at the bank. Additionally, former Deputy CEO Arun Khurana also stepped down in April over the same accounting lapses. In Q4FY25, the bank reported a loss of Rs 2,329 crore after ramping up provisions and reversing incorrectly booked revenue and income entries linked to accounting discrepancies in the derivatives and microfinance segments. The bank's Chief Financial Officer and Chief Human Resources Officer also resigned. After the CEO's resignation, IndusInd Bank formed an executive committee to oversee operations, which received a one-month extension last week. IndusInd Bank reported a 72% year-on-year (Y-o-Y) decline in net profit to Rs 604 crore in Q1FY26, due to higher provisions for retail loans and lower income from both core and non-core operations. Following the bank's earnings, IndusInd Bank's Chairman Sunil Mehta stated that the leadership transition is on track. Mehta added that the bank is actively identifying both internal and external candidates for senior management roles.


News18
41 minutes ago
- News18
IndusInd Bank appoints Rajiv Anand as MD and CEO for 3 years
Agency: PTI Last Updated: New Delhi, Aug 4 (PTI) IndusInd Bank on Monday announced the appointment of Rajiv Anand, former Deputy Managing Director of Axis Bank, as its new MD and CEO. The board, basis approval of the Reserve Bank of India (RBI), have at its meeting held on August 4 approved the appointment of Rajiv Anand as 'Additional Director' in the category of Managing Director and CEO and Key Managerial Personnel of the bank for three years, IndusInd Bank said in a late evening regulatory filing. The appointment is effective from August 25, 2025, up to August 24, 2028, subject to the approval of the shareholders of the bank, it said. He would assume charge at a time when the bank is reeling under a slew of issues stemming from alleged irregularities of the top management in recognising bad loans and trading reverses. Anand retired as deputy managing director of Axis Bank on August 3 upon completion of his third term as a director on the bank's board. He joined Axis Asset Management Co. Ltd. in 2009 as its founding MD and CEO. In his next assignment, he was appointed president of retail banking at Axis Bank. Subsequently, he was inducted into the board of the Axis Bank and took over as the head of wholesale banking. Last month, the RBI extended the tenure of the committee of executives of the bank for one month as IndusInd Bank expected the regulator's clearance for its new MD and CEO by that time. The situation arose following the resignation of MD and CEO Sumant Kathpalia in the wake of accounting lapses costing Rs 1,960 crore to the lender in the 2024-25 fiscal year. The private sector lender in March reported the accounting lapses in the derivative portfolio, estimated to have an adverse impact of approximately 2.35 per cent of the bank's net worth as of December 2024. The original tenure of the Committee of Executives constituted on April 29 was till July 28, 2025. PTI DP RHL view comments First Published: August 04, 2025, 23:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.