Latest news with #PralayMondal
Business Standard
2 days ago
- Business
- Business Standard
CSB Bank gets RBI nod to reappoint Pralay Mondal as MD & CEO till 2028
CSB Bank announced that Reserve Bank of India (RBI) has approved the reappointment of Pralay Mondal as managing director (MD) & CEO of the bank for a period of three years with effect from 15 September 2025. The bank will now seek shareholder approval for the reappointment within the timeframe mandated under the Companies Act, 2013, and SEBI Listing Regulations. Pralay Mondal joined CSB Bank in September 2020 after serving as the head of retail banking at Axis Bank. At CSB, he initially took on the role of President overseeing retail, SME, operations, and IT, before being promoted to Deputy Managing Director in February 2022. Pralay had been the Banks interim MD and CEO since April 2022. He has earlier worked with companies like Yes Bank, HDFC Bank, Standard Chartered Bank, Wipro InfoTech and Colgate Palmolive. CSB Bank is an old private sector bank with a history of over 100 years and operates 829 branches as on 31 March 2025. The business is concentrated in Kerala with the remaining spread across Tamil Nadu, Andhra, Karnataka, and Maharashtra. The banks standalone net profit jumped 25.7% to Rs 190.44 crore on 37.4% rise in revenue form operations to Rs 1,362.36 crore in Q4 FY25 over Q4 FY24. Shares of CSB Bank fell 1.26% to Rs 384.05 on the BSE.
Business Standard
2 days ago
- Business
- Business Standard
Nifty trades below 24,750 mark; FMCG shares decline
The key domestic indices traded in negative terrain with significant losses in early afternoon trade, weighed down by negative global sentiment after Israel declared a state of emergency following strikes on Iranian nuclear and strategic sites. Market participants moved toward safe-haven assets, while investors closely tracked trends in Brent crude oil prices. The Nifty traded below the 24,750 mark. FMCG shares declined for the third consecutive trading session. At 12:25 IST, the barometer index, the S&P BSE Sensex, declined 567.79 points or 0.69% to 81,118.36. The Nifty 50 index fell 178.70 points or 0.72% to 24,710.80. The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index slipped 0.51% and the S&P BSE Small-Cap index dropped 0.46%. The market breadth was weak. On the BSE, 1,270 shares rose and 2,548 shares fell. A total of 155 shares were unchanged. MCX Gold futures for 5 August 2025 settlement jumped 1.57% to Rs 99,949. In the commodities, Brent crude for August 2025 settlement jumped $4.20 or 6.06% to $73.56 a barrel amid heightened geopolitical tensions Economy: India's Consumer Price Index (CPI)-based inflation eased to 2.82% in May 2025, down 34 basis points from April's 3.16%, marking the lowest reading since February 2019. A key driver of the decline was food inflation, which dropped to 0.99%, the lowest since October 2021, significantly below both April's 1.78%. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, up 7.13% to 15.02. The Nifty 26 Jun 2025 futures were trading at 24,744.80, at a premium of 34 points as compared with the spot at 24,710.80. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 61.6 lakh contracts at the 26,000 strike price. Maximum put OI of 50.1 lakh contracts was seen at the 24,000 strike price. Buzzing Index: The Nifty FMCG index fell 1.05% to 54,527.15. The index dropped 2.97% for the three consecutive trading sessions. United Spirits (down 2.26%), United Breweries (down 2.09%), Colgate-Palmolive (India) (down 2.02%), Godrej Consumer Products (down 1.73%), Varun Beverages (down 1.37%), Tata Consumer Products (down 1.35%), Emami (down 1.17%), Dabur India (down 1.16%), Hindustan Unilever (down 0.93%) and ITC (down 0.9%) declined. Stock in Spotlight: TANFAC Industries rallied 4.04% after the company announced that it has has successfully commissioned its 5,000 tonnes per annum (TPA) Solar Grade Dilute Hydrofluoric Acid (DHF) plant. CSB Bank shed 0.87%. The company announced that Reserve Bank of India (RBI) has approved the reappointment of Pralay Mondal as managing director (MD) & CEO of the bank for a period of three years with effect from 15 September 2025.
Business Standard
2 days ago
- Business
- Business Standard
Stock Alert: Jubilant Pharmova, Canara Bank, Torrent Power, DCM Shriram, CSB Bank
Securities in F&O Ban: Aditya Birla Fashion & Retail (ABFRL), Birla Soft, Central Depository Services (CDSL), Chambal Fertilisers & Chemicals, Hindustan Copper, Indian Energy Exchange (IEX), Indian Renewable Energy Development Agency (IREDA), RBL Bank and Titagrah Rail Systems shares are banned from F&O trading on 11 June 2025. Stocks to Watch: Jubilant Pharmovas board approved the sale and transfer of its active pharmaceutical ingredients (API) business on a slump sale basis to Jubilant Biosys, a wholly-owned subsidiary. The API business of the company achieved turnover of Rs 609 crore, representing 8.35% of the consolidated turnover for the financial year ended 31st March 2025. Canara Banks board has approved the capital raising plan for the financial year 2025-26 amounting upto Rs 9,500 crore by way of debt instruments (Additional Tier I/Tier II Bonds). Torrent Powers wholly owned subsidiary, Torrent Green Energy has emerged as successful bidder under competitive bidding and has received letter of award from Solar Energy Corporation of India (SECI) on June 11, 2025 for setting up of 300 MW Wind power project under Wind Tranche-XVIII. The estimated investment for the project is Rs 2,650 crore. DCM Shrirams board has approved signing of a definitive agreement to acquire a 100% stake in wholly owned subsidiary, Hindusthan Speciality Chemicals for Rs 375 crore, to enter into Epoxy & Advanced Materials space, as a downstream integration of Epichlorohydrin (ECH). Dixon Technologies (India) has executed a joint venture agreement with Signify to enable formation of a joint venture company in India to carry on the OEM business of lighting products and accessories. The shareholding of the JV Co. will be held in equal proportion (50:50) by the Company and Signify CSB Bank announced that Reserve Bank of India (RBI) has approved the reappointment of Pralay Mondal as managing director & CEO of the bank for a period of three years with effect from September 15, 2025.
News18
2 days ago
- Business
- News18
Stocks To Watch: Torrent Power, Asian Paints, ICICI Bank, HCL Tech, NTPC, And Others
Last Updated: Stocks to watch: Shares of firms like Torrent Power, Asian Paints, ICICI Bank, HCL Tech, NTPC, and others will be in focus on Friday's trade Stocks to Watch on June 13: Indian markets closed lower on the weekly expiry day, slipping more than 1% after a brief period of consolidation. On June 13, several stocks are expected to be in focus based on key corporate developments and market movements. Torrent Power Ahmedabad-based Torrent Power announced that its wholly owned subsidiary, Torrent Green Energy, has secured a 300 MW wind power project from the Solar Energy Corporation of India (SECI). ICICI Bank ICICI Bank stated that the Reserve Bank of India (RBI) has approved the reappointment of Rakesh Jha as the bank's Executive Director for a term of two years, starting September 2, 2025. Asian Paints Around 3.5 crore equity shares of Asian Paints, held by Reliance Industries Ltd (RIL) through Siddhant Commercials Ltd, were sold at a price of Rs 2,201 per share. After this sale, Siddhant Commercials retains 87 lakh shares in the company. DCM Shriram DCM Shriram informed that its board has approved the 100% acquisition of Hindusthan Specialty Chemicals, a strategic move to expand its specialty chemicals portfolio. HCL Technologies has been selected as a key strategic engineering services partner by Swedish luxury carmaker Volvo Cars, strengthening its global automotive service portfolio. NTPC NTPC Ltd reported that Unit-3 (660 MW) of its Barh Super Thermal Power Project (Stage-1) has successfully completed its trial run, a step closer to full operational status. Canara Bank The board of Canara Bank has approved a capital raising plan of up to Rs 9,500 crore through bonds during the financial year 2025–26. CSB Bank CSB Bank announced that the RBI has approved the reappointment of Pralay Mondal as Managing Director and CEO for another three-year term, starting from September 15, 2025. Capri Global Capital Capri Global Capital, a non-banking financial company, said it has raised Rs 2,000 crore through a Qualified Institutions Placement (QIP), strengthening its financial position and enabling future growth. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published: June 13, 2025, 08:34 IST
Business Upturn
2 days ago
- Business
- Business Upturn
Top stocks to watch today, June 13: ONGC, Oil India, HCLTech, Yes Bank, Dixon Technologies, NBCC and more
The Indian equity benchmarks, Sensex and Nifty 50, are expected to open lower on Friday, June 13, tracking weak global cues amid rising geopolitical tensions. Investor sentiment remains cautious after Israel launched airstrikes in Iran, leading to a sharp spike in crude oil prices. Key Stocks to Watch Today 1. ONGC / Oil India (OIL): Crude oil prices surged over 8% following the Israel-Iran conflict. Brent crude crossed the $75/bbl mark, which may impact oil exploration and marketing companies, as well as downstream sectors like paints and aviation. 2. HCLTech: The company announced a collaboration with Volvo Cars to support engineering transformation efforts, signaling a focus on digital and software-driven automotive innovation. 3. Torrent Power: Its subsidiary secured a 300 MW wind power project from SECI, valued at ₹2,650 crore. 4. DCM Shriram: The company plans to acquire 100% equity in Gujarat-based Hindusthan Specialty Chemicals for ₹375 crore, aimed at expanding its specialty chemicals portfolio. 5. Dixon Technologies: Dixon has entered into a joint venture agreement with Signify Innovations to manufacture OEM lighting products in India. 6. Yes Bank: The Reserve Bank of India (RBI) has approved a six-month extension for the tenure of Managing Director and CEO, Prashant Kumar. 7. Crompton Greaves Consumer: The company received an order from Maharashtra Energy Development Agency (MEDA) for 4,500 off-grid solar pumps, valued at ₹100 crore. 8. V-Mart: Shareholders approved the issuance of bonus shares, which may influence stock movement. 9. NBCC: The company has bagged fresh work orders worth ₹518.5 crore. 10. Sasken Technologies: Announced a partnership with Microsoft to drive innovation in smart devices. 11. CSB Bank: The RBI approved the re-appointment of Pralay Mondal as MD and CEO. 12. Talbros Automotive Components: The company's joint venture secured multi-year orders worth ₹580 crore. 13. Oil Marketing Companies / Paint Companies: With Brent crude climbing sharply, stocks in these sectors may see movement due to margin impact concerns. 14. Jubilant FoodWorks / Jubilant Ingrevia / Jubilant Pharmova: Promoters are expected to offload stakes via block deals. The floor prices for these sales are at a discount to current market prices—4% for Jubilant FoodWorks, 8.5% for Ingrevia, and 11% for Pharmova. 15. Genus Power: GIC is likely to sell up to 5.88% equity via block deals at a 6.5% discount to CMP. 16. Universal Cables: The European Union is set to impose a countervailing duty (CVD) of 8.3% on imports of single-mode optical fibre cables, potentially impacting the company's exports. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash
