The country's largest reinsurance company - General Insurance Corporation of India - has issued both dividend and bonus shares for its investors for the year ended March 31, 2018. The insurer was listed on the stock exchanges in October 2017.
The fourth anniversary of the Narendra Modi-government has been marred by the pressure on both the fiscal and current account deficits brought about by rising oil prices and the need for populist spending with the general elections just a year away.
Shares of Tata Consultancy Services on Friday attained a milestone when its market valuation briefly crossed the Rs 7-lakh crore mark. The country's largest IT services company becomes the first listed firm to achieve this level.
The spate of bad news continued for state-owned banks with two more lenders reporting losses for the fourth quarter ended March 31, 2018, on higher provisions for bad loans. While IDBI Bank reported a loss of Rs 5,663 crore, Bank of Baroda (BoB) slipped into the red with a net loss of Rs 3,102.34 crore.
Malaysian firm IHH Healthcare Berhard on Friday extended the acceptance period for its revised proposal for acquiring Fortis to June 30 in the wake of changes in the board of the cash-strapped healthcare chain.