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Business Standard
8 hours ago
- Business
- Business Standard
AU Small Finance Bank up 7%; first SFB to get RBI's universal bank approval
AU Small Finance Bank share price today: Shares of Rajasthan-based AU Small Finance Bank jumped over 7 per cent to hit an intraday high of ₹800 on the NSE after the private lender received regulatory approval from the Reserve Bank of India (RBI) for transition to a universal bank. At 10:15 AM, AU Small Finance Bank's share price was trading 1.7 per cent higher at ₹755.8 per share on the NSE. In comparison, NSE Nifty50 was down 0.6 per cent at 24,452 levels. The market capitalisation of the company stood at ₹56,263 crore. The stock has recovered 67 per cent from the 52-week low of ₹478.35 touched on March 18, 2025. In an exchange filing on August 7, AU Small Finance Bank said that it received in-principle approval from the RBI for transition from a Small Finance Bank (SFB) to a universal bank. The central bank approval comes after the bank's letter dated September 3, 2024, seeking a universal bank license from the RBI. With this, AU Small Finance Bank became the first SFB to receive an in-principle approval to become a universal bank. "This regulatory approval is a strong validation of AU's robust business model, sound governance, and enduring commitment to financial inclusion," the private lender said in a filing. "It affirms AU's evolution into a complete Bank, one that offers a full spectrum of banking products and services that today's customer expects, spanning retail, business, and digital solutions," it added. ALSO READ | Motilal Oswal Financial Services on AU Small Finance Bank According to analysts at MOFSL, the in-principle approval to transition into a universal bank catapults AU SFB into the big league and highlights RBI's confidence in the bank's business operations and governance standards. This transition will be important in shaping the bank's long-term path, offering regulatory benefits over private banks and creating new growth opportunities through relaxed compliance requirements. "The recovery in earnings over second half as credit cost subsides along with industry leading loan growth, a potential capital raise to support robust growth, and the RBI's approval for the CEO's (Sanjay Agarwal) term renewal—due in April 2026 are additional near-term catalysts that reinforce confidence in the bank's operational capabilities and long-term growth outlook," the brokerage said in a note. MOFSL maintained a 'Buy' rating on the stock with a target price of ₹875, noting that the transition is expected to support overall growth and profitability outlook while significantly enhancing the bank's profile.
Indian Express
01-08-2025
- Entertainment
- Indian Express
‘Will do a fresh review of ‘Udaipur Files': Centre; Delhi HC asks to take final decision by August 6
The Central Government on Friday told the Delhi High Court that it would be conducting a fresh review of the film Udaipur Files, which is based on the murder of Rajasthan-based tailor Kanhaiya Lal, and withdrawing the earlier one. The Centre's stand comes following the High Court's observation that the Centre had exceeded its revisional jurisdiction while recommending six cuts to the film. The Centre made the submission on the instruction in a petition by Mohd Javed, an accused in the murder of Kanhaiya Lal on the alleged communal grounds, on which the film is purportedly based. The Division Bench of Chief Justice D K Upadhyaya and Justice Tushar Rao Gedela, while recording the Centre's submission that it will withdraw its recommendation dated July 21, directed the government to hear the parties on Monday, August 4, and take the final decision by August 6. It further clarified that no adjournment shall be sought on the day of the hearing. The court's directions towards a time-bound decision came after the producers of the film told the Bench that they have slated the film for release on August 8, and if not released on the scheduled day, the release may not be possible for the next six months. The Bench had earlier sought a response from the Centre on how it could have recommended for six cuts to the film, when the Centre's revisional powers over the Central Board of Film Certification (CBFC) can only be limited to either deeming the film to be an uncertified film in the whole or any part of India, or change the rating of certification, or may suspend the exhibition of the film. The Centre, through Additional Solicitor General (ASG) Chetan Sharma, Friday argued that it had 'done no more than recommend' for the cuts, and no official notification was issued in this regard, and thus in effect they had not exceeded their revisional jurisdiction and the aggrieved parties' petitions seeking a review before the Centre will be considered as dismissed. This argument, however, did not cut teeth with the Bench. Chief Justice Upadhyaya orally remarked, 'Now since you didn't issue notification, the revision petition will be deemed dismissed, that's a difficult argument to will not amount to dismissal.' After the Bench orally opined that the Centre may have exceeded its revisional authority and may have instead ventured into what can be construed as general administrative powers, the Centre stated that it would take instructions while conceding that the court, if it deems fit, may set aside the Central Government's decision and relegate the parties afresh to its revisional jurisdiction. Subsequently, at 2.30 pm, the Centre said that it would withdraw its decision and can take a decision afresh, in compliance with the provisions of the Cinematograph Act. Earlier in July, Darul Uloom Deoband principal Maulana Arshad Madani also filed a Public Interest Litigation (PIL) in the Delhi HC, alleging that the movie is 'replete with dialogues and instances that had led to communal disharmony… and carry every potential to again stoke the same communal sentiments.' The court had asked Madani to approach the Central Government to seek a review of the CBFC nod for the release. The Delhi HC had noted that provisions under the Cinematograph Act empower the Centre to exercise revisional powers over CBFC certification of a film. The Delhi HC on July 10 had temporarily stayed the release of Udaipur Files while granting those aggrieved by the purported portrayal in the film, vilifying Muslims to represent before the Centre to seek a review of the CBFC's decision to grant a certificate greenlighting the release of the film.
Economic Times
01-08-2025
- Business
- Economic Times
Laxmi India Finance IPO allotment status to be out today: Here's how to check it
How to check Laxmi India Finance IPO allotment status Live Events IPO details (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The allotment status for Laxmi India Finance's Rs 254-crore IPO is expected to be finalized today after the issue received a decent overall subscription of 1.86 IPO saw maximum participation from retail investors, who subscribed 2.20 times their reserved quota, while NIIs and QIBs subscribed 1.83x and 1.30x respectively. The stock is expected to list on August 5 on BSE and the healthy demand, there's no buzz in the grey market, with the GMP at Rs 0, indicating a flat listing, at least as of who applied for the IPO can check their allotment status through the registrar, MUFG Intime India (formerly Link Intime).Steps to check on the registrar's website:Visit Click on 'IPO Allotment Status'Select 'Laxmi India Finance Ltd' from the dropdownEnter your PAN, Application Number, or DP/Client IDAlternatively, check on BSE website:Go to Select 'Equity' and then 'Laxmi India Finance Ltd' from the listEnter your application number and PANClick 'Search' to view statusThe IPO comprised a fresh issue of 1.05 crore shares aggregating to Rs 165.17 crore and an offer for sale of 0.56 crore shares worth Rs 89.09 company plans to use the proceeds from the fresh issue to augment its capital base and support future lending growth. Laxmi India Finance, a Rajasthan-based NBFC, focuses on MSME loans, vehicle financing, and construction company's financials show steady growth with FY25 profit rising 60% YoY to Rs 36 crore, and revenue jumping 42% to Rs 248 allotments underway and GMP stagnant, investors will now watch for cues ahead of listing to gauge market sentiment on debut.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
30-07-2025
- Time of India
Drug peddler running large-scale racket in Indore arrested
Indore: Dwarkapuri police on Wednesday arrested a drug peddler who was absconding in seven criminal cases and was allegedly running a large-scale drug racket in the city. Additional DCP Dishesh Agarwal said that a special team led by station in-charge Inspector Sushil Patel arrested the accused Shubham alias Nepali (30), a resident of Shraddhasaburi Colony, from Super Corridor area. Shubham has 18 cases registered against him, including charges of attempt to murder, extortion, loot, and Arms Act violations. During interrogation, Shubham revealed that he was previously lodged in jail where he came in contact with Rajasthan-based drug trafficker Ayub Lala about two years ago and began sourcing brown sugar from the state for distribution in Indore. Ayub introduced him to selling brown sugar and MD drugs. After being released from jail, Shubham resumed contact with Ayub and started bringing brown sugar from Rajasthan to Indore, where he sold it with the help of associates Rahul, Lokesh and Yash. He allegedly purchased brown sugar at Rs 2,000-3,000 per gram and brought in 40–50 grams at a time, which was then divided into 15 small tokens of one gram each and sold to his associates for Rs 400 per token. These associates later sold the tokens in Indore for Rs 500-600 each. Shubham had been evading arrest by frequently changing locations between Rau, Tulsi Nagar, and Ujjain. Acting on a tip-off that he was moving around Super Corridor area, the police team launched a swift operation and arrested him. The accused was absconding with members of Durlabh Kashyap gang from Ujjain and was allegedly using WhatsApp calls to coordinate with a network of youths tasked with selling MD drugs across the city. Kashyap, who gained notoriety for flaunting weapons on social media, was murdered in 2020. Police have taken Nepali on remand. They estimate that Nepali was moving drugs worth nearly Rs two crore every month. Investigators said around 12 youths were working under him to supply small packets of drugs in Dwarkapuri, Rau, Chandan Nagar, and Annapurna localities.
Time of India
30-07-2025
- Health
- Time of India
Firm running urban PHCs in Doon fined Rs 5L for healthcare lapses
Dehradun: A private company operating primary health centres (PHCs) in Dehradun in a public-private partnership (PPP) mode was fined Rs 5 lakh, following inspections across 12 urban PHCs by officials of the district administration on Wednesday. Tired of too many ads? go ad free now A recommendation has been made to the chief secretary to terminate their contract. The inspections following several complaints, revealed missing doctors at many centres and ghost entries for junior doctors, nurses, and health personnel. Officials said medicines were expired, and there were lapses in cleanliness and sanitation. Officials also found breaks in cold chain maintenance of vaccines and medicines, no drinking water, no sitting space for patients and attendants, damaged equipment, and unclean washrooms, among several other violations. At some centres, even patients' registers were not being maintained. Chief development officer, Abhinav Shah, told TOI, "The Rajasthan-based company, Akshansh and Chitransh JV Private Ltd, was fined for several lapses in health care." Officials said that the original MoU of the company is being reviewed, and more penalties will be levied if violations are found.
