Latest news with #SumanthKathpalia
Business Standard
29-05-2025
- Business
- Business Standard
IndusInd Bank: SEBI bans former CEO and four executives over insider trading
Securities and Exchange Board of India (SEBI) has issued an ex-parte interim order against five senior officials of IndusInd Bank, including former CEO Sumanth Kathpalia, in connection with an insider trading case. The regulator found that these individuals sold shares while in possession of unpublished price sensitive information (UPSI), thereby avoiding losses estimated at approximately Rs 19.78 crore. The case pertains to discrepancies in IndusInd Banks derivative portfolio that came to light internally in late 2023, following a revised RBI directive on derivative accounting. According to SEBI, internal communications indicated that by December 2023, the bank had estimated a potential adverse financial impact of Rs 1,572 crore, or 2.35% of its net worth. However, this information was not disclosed to the stock exchanges until 10 March 2025. Following the delayed disclosure, IndusInd Bank's share price crashed 27% on 11 March 2025, to its lowest level since November 2020. SEBIs preliminary findings revealed that Kathpalia and Deputy CEO Arun Khurana, along with three other senior executives, sold substantial quantities of shares just prior to the public announcement. Kathpalia sold 1.25 lakh shares, while Khurana sold over 3.48 lakh shares. None of these trades were reported as part of a pre-approved trading plan. SEBI has frozen the bank and demat accounts of the individuals to the extent of the gains made and has prohibited them from trading in securities until further notice. The accused have also been instructed to submit detailed financial and asset disclosures within 15 days. The investigation is ongoing, with SEBI continuing to examine potential disclosure violations and the involvement of additional individuals. The regulator emphasized that these interim measures are aimed at preserving market integrity and investor confidence. IndusInd Bank reported a standalone net loss of Rs 2,235.99 crore in Q4 FY25 as against a net profit of Rs 2,346.84 crore posted in Q4 FY24. Total income declined 22.83% year on year to Rs 11,342.65 crore in Q4 March 2025. Shares of IndusInd Bank rose 2.41% to settle at Rs 824.15 on the BSE.
India Today
29-05-2025
- Business
- India Today
Stocks to watch today: IndusInd Bank, IRCTC, Adani Ports, Suzlon in focus
Indian equity markets closed in the red on Wednesday, dragged by subdued global sentiment and cautious trading ahead of the monthly F&O expiry. The Sensex declined 239 points to settle at 81,312, while the Nifty ended the session down 74 points at 24, investors eye the final trading sessions of May, attention will turn to a slew of corporate earnings, key regulatory developments, and major fundraising activity. Here's a look at stocks that could dominate Thursday's few results trickling in late Wednesday also warrant attention. Steel Authority of India (SAIL) reported an 11% rise in annual net profit at Rs 1,250 crore on revenues of over Rs 1.03 lakh crore. The company recommended a final dividend of Rs 1.60 per share. IRCTC posted a strong Q4 with net profit rising 26% to Rs 358 crore and revenue up 10% year-on-year to Rs 1,269 crore. The board declared a modest final dividend of Re 1 per India saw its Q4 bottom line dip 7 per cent to Rs 521 crore despite a 6 per cent revenue rise. The board announced a generous Rs 33.50 dividend per share for the Bank may see investor reaction after market regulator Sebi issued an interim order in an insider trading case involving former CEO Sumanth Kathpalia and four other top executives. According to Sebi, these individuals offloaded shares using unpublished price-sensitive information, avoiding potential losses worth nearly Rs 20 Ports and Special Economic Zone is returning to the domestic bond market with a proposed Rs 5,000 crore non-convertible debenture issue. This 15-year issuance is expected to carry a coupon in the range of 7.7–7.75%.A few stocks will trade ex-dividend today: Tata Consumer Products, Shyamkamal Investments, and Powergrid Infrastructure Investment Trust. Shares of Aplab will trade ex-rights as the company prepares to raise Engineering reported a 3% rise in profit to Rs 91 crore on a 15% increase in revenue. However, operating margins slipped by nearly 200 basis Feeds clocked a 40% jump in Q4 profit to Rs 157 crore, with revenues up nearly 8%. The company declared a Rs 9 per share Wealth Management posted a 41% profit growth in Q4 and reported a 24% jump in AUM to Rs 4.3 lakh Magnesita India returned to profitability with a net income of Rs 36 crore, even as revenue dipped 3 per cent year-on-year. The board proposed a final dividend of Rs 2.50 per derivatives expiry, heavy result announcements, and global cues weighing in, traders should brace for a volatile session.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Bloomberg
28-05-2025
- Business
- Bloomberg
India Bans Former IndusInd CEO, Others in Insider Trading Case
India's securities market regulator has banned some former as well current top executives of IndusInd Bank Ltd., backed by the billionaire Hinduja brothers, from accessing the capital markets in a case of alleged insider trading, according to an initial order. The regulator found former Chief Executive Officer Sumanth Kathpalia and former Deputy CEO Amit Khurana allegedly indulged in trading of the lender's shares while in possession of price-sensitive information, the Securities and Exchange Board of India order said. The regulator's directions are also applicable to the bank's head of treasury, head of global markets group and the chief administrative officer.
Business Upturn
30-04-2025
- Business
- Business Upturn
Top stocks to watch today, April 30: SBI, IndusInd Bank, Bajaj Finance, BPCL, CEAT and more
By Aman Shukla Published on April 30, 2025, 08:33 IST The Indian stock market closed nearly flat on Tuesday, pausing its recent upward trend. The BSE Sensex rose by 70.01 points to settle at 80,288.38, while the NSE Nifty50 gained 7.45 points to end the session at 24,335.95. On Wednesday, April 30, several stocks will likely remain in focus today based on company developments and quarterly earnings announcements. Stocks to Watch on April 30, 2025: SBI (State Bank of India): The board will consider a fund-raising proposal on May 3. BPCL: Reported strong Q4 results driven by refining operations, with Gross Refining Margins (GRM) above estimates at $9.20 per barrel. IndiaMart: Reported a margin improvement to 36.70% from 28.10% YoY, with revenue growth of 12.80%. Alembic Pharmaceuticals: Received an Establishment Inspection Report (EIR) from the US FDA for its Panelav manufacturing facility. CEAT: Q4 results exceeded estimates, though margins contracted year-on-year due to higher input costs. Prestige Estates: Secured RERA approval for a residential project in the NCR region, with a Gross Development Value (GDV) of ₹9,000 crore. Vishal Megamart: Revenue growth remained consistent with past performance; margins improved by 190 basis points YoY. Endurance Technologies: Announced plans to establish a lithium-ion battery pack unit in Pune with an investment of ₹47.3 crore. Schaeffler India: Q4 margin improved to 18.15% from 17.6% YoY, with EBITDA rising 19%. Fedbank Financial Services: Net profit increased 5.90%, while Net Interest Income (NII) rose 34.6% YoY. Inox Green Energy: Signed an agreement for operations and maintenance (O&M) of 675 MWp of solar projects. Bajaj Finance: Q4 performance missed estimates; the company issued a weak FY26 guidance and announced a 4-for-1 bonus share issue. Bajaj Finserv: Reported a 9.65% drop in total premium; gross written premium declined 12.80% YoY. IndusInd Bank: MD & CEO Sumanth Kathpalia resigned; RBI approved the formation of a committee of executives. Star Health: Reported an operating loss compared to a profit in the previous year; combined ratio increased by 642 bps YoY. Five Star Finance: Gross NPA ratio rose to 1.79% from 1.62%; disbursements grew by 9.24% YoY. Praj Industries: Missed expectations across key financial metrics; margins declined by 424 bps YoY. CIE Automotive: EBITDA dropped 7%, while revenue fell by 6.4% YoY. Shoppers Stop: Reported muted revenue and EBITDA growth; margins remained flat at 16% YoY. 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. Bajaj FinanceBPCLCeatIndusInd bank Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
