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Time of India
15 hours ago
- Business
- Time of India
360 One WAM shares in focus as BC Asia Investments likely to offload 3.7% stake via block deal
Shares of 360 One WAM will be in focus after BC Asia Investments X Ltd is reportedly planning to offload around 1.5 crore shares, or a 3.7% stake, in the wealth and asset management firm via a block deal, according to a CNBC-TV18 report citing sources. The proposed deal is valued at approximately Rs 1,740 crore, with a floor price of Rs 1,160 per share—nearly 5% below the stock's closing price of Rs 1,221.20 on Monday. Explore courses from Top Institutes in Select a Course Category Cybersecurity Data Analytics others healthcare Leadership Data Science Product Management Others CXO Management Public Policy MCA Digital Marketing Healthcare Artificial Intelligence PGDM Finance MBA Design Thinking Project Management Data Science Operations Management Technology Degree Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details Also Read: 7 Nifty500 stocks with highest dividend yields. Do you own any? Post-transaction, the seller will be subject to a 120-day lock-up period. J.P. Morgan is said to be managing the deal, as per the term sheet. 360 One WAM, formerly known as IIFL Wealth Management , rebranded in January 2023 and is headquartered in Mumbai. It is one of India's leading wealth and asset management firms. Live Events BC Asia Investments X Ltd is a special-purpose vehicle indirectly owned by a consortium of investors, including Bain Capital Investors LLC, Bain Capital Credit, and the Canada Pension Plan Investment Board (CPPIB). In 2022, the group acquired up to a 24.98% stake in 360 One WAM from General Atlantic Singapore Fund Pte Ltd, becoming one of its major shareholders. Also Read: Apollo Tyres, Brigade Enterprises among 10 small-cap stocks trading below industry PE; may rally up to 43% Stock performance and outlook On Monday, 360 One WAM shares closed 1.67% higher at Rs 1,221.10, in line with broader market gains. The stock has risen 28% over the past three months but remains down 4% year-to-date. Over the last two years, the stock has delivered a strong return of 137%. According to Trendlyne, the average analyst target price for the stock is Rs 1,305, implying a potential upside of about 7% from current levels. Of the 10 analysts tracking the stock, most have a 'Buy' rating. Technically, the Relative Strength Index (RSI) stands at 62.8, indicating neutral momentum. The MACD is at 32.6—above the centre line but below the signal line. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Business Upturn
a day ago
- Business
- Business Upturn
IndusInd Bank in focus as it denies reports of RBI asking to expand CEO search; appointment process underway
By Aditya Bhagchandani Published on July 21, 2025, 14:09 IST IndusInd Bank clarified on Monday that the process of appointing its new Managing Director & Chief Executive Officer (MD & CEO) is already underway and firmly denied media reports claiming the Reserve Bank of India (RBI) has asked the board to expand its search for candidates. Speaking to CNBC-TV18, the bank said: 'We firmly deny reports of RBI asking to expand CEO search. Appointment of new MD & CEO (including seeking relevant approvals) is in process.' The clarification comes after reports suggested that the RBI may have informally advised the board to look beyond the list of names it had already submitted in mid-June and consider more candidates before finalizing a successor to former CEO Sumant Kathpalia, who stepped down in April. According to earlier reports, the RBI was not fully satisfied with the initial list of candidates and reportedly advised the board to broaden its search, even considering senior bankers from public sector banks and Indian-origin professionals working abroad. The board is expected to submit additional names by the end of July, given that the bank has to finalize the appointment before the interim committee of executives (COE) completes its term on September 30, 2025. Among the names reportedly in consideration for the top post are: Rajiv Anand , the soon-to-retire Deputy MD of Axis Bank Rahul Shukla , Group Head of Corporate & Business Banking at HDFC Bank (currently on sabbatical) Anup Saha, newly appointed CEO of Bajaj Finance Sources familiar with the matter had earlier indicated that the appointment process was proving challenging, with some candidates expressing reservations about taking up the role, given the complexities of the bank's financial and operational situation. Sumant Kathpalia, the former CEO, resigned on April 29, assuming moral responsibility for accounting lapses related to derivatives. Following his departure, a four-member COE was appointed on April 30 to oversee operations until the end of September. A headhunter involved in the process had commented that the 'hunt for a CEO is turning out to be a long-drawn process' as 'most candidates are apprehensive about the opportunity.' IndusInd Bank has reassured stakeholders that the board is working towards a timely resolution and the process of appointment is progressing as planned. Disclaimer: The above information is based on statements to CNBC-TV18 and earlier media reports. It is provided for informational purposes only and does not constitute investment or financial advice. Please consult a professional advisor or conduct your own research before making any financial decisions. Neither the author nor the publisher is responsible for any actions taken based on this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Economic Times
a day ago
- Business
- Economic Times
Axis Bank shares slip 2% after Q1 profit hit linked to RBI-driven bad loan spike
Axis Bank shares declined 2.4% to hit the day's low of Rs 1,072.60 on the BSE in Monday's trade after the bank reported a weaker-than-expected Q1FY26 performance, impacted by a sharp increase in provisions for bad loans, as a result of an intervention by the Reserve Bank of India (RBI). ADVERTISEMENT The lender's net profit for the June 2025 quarter fell 4% year-on-year to Rs 5,806 crore, missing market estimates. According to CNBC-TV18, regulatory intervention by the RBI played a role in the bank's unexpected rise in bad loan provisions. RBI's supervisory review reportedly required Axis Bank to revisit its asset classification and stress recognition practices, especially within its unsecured retail and small business loan books. Sources cited by CNBC-TV18 revealed that the RBI had flagged Axis Bank's internal policies as overly lenient in identifying stressed loans, leading to under-recognition or delayed recognition of non-performing assets (NPAs).While Axis Bank was technically compliant with regulatory guidelines on income recognition and provisioning, its internal framework was seen as too permissive, prompting the RBI to instruct corrective action last result of this course correction became visible in Q1FY26 as provisions spiked, weighing on profitability. The bank had attributed Rs 614 crore of the hit on its bottom line to a 'technical impact' in its results for the quarter ended June 2025. ADVERTISEMENT Also read: Early Q1 results show a slowdown in revenue and profit growth for Indian companies On paper, Axis Bank followed regulatory norms for NPA recognition, but CNBC-TV18 reported that its internal policies lacked qualitative rigour. While complying with regulatory standards quantitatively, the bank's practices reportedly did not align with the intended spirit of the regulations. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.) (You can now subscribe to our ETMarkets WhatsApp channel)
News18
a day ago
- Business
- News18
Stranded UK F-35 Jet Set To Take Off Today: How Much Did Kerala Airport Earn From Parking?
Last Updated: Valued at over $110 million, the F-35B is one of the world's most sophisticated fifth-generation fighter jets, known for its short take-off and vertical landing (STOVL) capability. After remaining grounded for over a month at Kerala's Thiruvananthapuram airport due to technical issues, the British Royal Navy's F-35B fighter jet is expected to finally take off today. The advanced combat aircraft, which made an emergency landing on June 14, has since been occupying a parking bay at the airport — reportedly accruing parking fees estimated at Rs 26,261 per day for over 38 days, according to a report by CNBC-TV18 citing Indian Defence Research Wing (IDRW). On July 6, a 24-member team from the British Royal Air Force — including 14 technical experts and 10 crew members — arrived to inspect and assess whether the jet could be repaired locally. Initial repair attempts by a Royal Navy team were unsuccessful after a hydraulic failure was detected during pre-departure checks. Valued at over $110 million, the F-35B is one of the world's most sophisticated fifth-generation fighter jets, known for its short take-off and vertical landing (STOVL) capabilities. It had been operating about 100 nautical miles off Kerala's coast when it was forced to land due to a technical malfunction. The aircraft was moved to a secure hangar at the airport for assessment, and after extensive inspections, engineers now believe the jet is fit to fly back to the United Kingdom. The Indian Air Force provided logistical support throughout the process. view comments First Published: July 21, 2025, 12:48 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.
Time of India
2 days ago
- Business
- Time of India
Axis Bank shares slip 2% after Q1 profit hit linked to RBI-driven bad loan spike
Axis Bank shares declined 2.4% to hit the day's low of Rs 1,072.60 on the BSE in Monday's trade after the bank reported a weaker-than-expected Q1FY26 performance , impacted by a sharp increase in provisions for bad loans, as a result of an intervention by the Reserve Bank of India (RBI). The lender's net profit for the June 2025 quarter fell 4% year-on-year to Rs 5,806 crore, missing market estimates . Explore courses from Top Institutes in Select a Course Category Degree PGDM MCA Data Science Data Analytics Operations Management Project Management healthcare CXO Digital Marketing Public Policy Cybersecurity Others Technology Leadership Management Healthcare Finance Artificial Intelligence MBA Product Management Design Thinking Data Science others Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More According to CNBC-TV18, regulatory intervention by the RBI played a role in the bank's unexpected rise in bad loan provisions. RBI's supervisory review reportedly required Axis Bank to revisit its asset classification and stress recognition practices, especially within its unsecured retail and small business loan books. Sources cited by CNBC-TV18 revealed that the RBI had flagged Axis Bank's internal policies as overly lenient in identifying stressed loans, leading to under-recognition or delayed recognition of non-performing assets (NPAs). While Axis Bank was technically compliant with regulatory guidelines on income recognition and provisioning, its internal framework was seen as too permissive, prompting the RBI to instruct corrective action last quarter. Live Events The result of this course correction became visible in Q1FY26 as provisions spiked, weighing on profitability. The bank had attributed Rs 614 crore of the hit on its bottom line to a 'technical impact' in its results for the quarter ended June 2025. Also read: Early Q1 results show a slowdown in revenue and profit growth for Indian companies On paper, Axis Bank followed regulatory norms for NPA recognition, but CNBC-TV18 reported that its internal policies lacked qualitative rigour. While complying with regulatory standards quantitatively, the bank's practices reportedly did not align with the intended spirit of the regulations. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
