Here are the top stories this evening:
RBI annual report | Bank frauds got smaller in FY22
Banks reported 9,103 frauds in FY22 involving Rs 60,414 crore. In comparison, frauds reported in FY21 were 7,359 but the amount was Rs 1.38 lakh crore. Does this mean bankers have gotten smarter, armed with technology and faster surveillance?
RBI annual report | Mopping up excess liquidity cost Rs 35,500 crore in FY22
The Reserve Bank of India (RBI) spent more than Rs 35,500 crore on a net basis in FY22 to manage the surplus liquidity in the banking system. The interest paid by the central bank for its liquidity management operations nearly doubled in FY22 from FY21. The interest paid by the Indian central bank for its liquidity management operations nearly doubled in FY22 from FY21.
Adani Enterprises to acquire 50% stake in General Aeronautics
Adani Enterprises announced on May 27 that it has signed a definitive agreement to acquire a 50 percent stake in General Aeronautics Private Limited, which provides robotic drones and drone-based solutions for crop protection.
Nykaa Q4 Result: Net profit falls 49% falls YoY to Rs 8.56 crore
Indian beauty products retailer Nykaa reported a 49% fall in quarterly net profit, hit by soaring expenses amid dull demand for its personal care and fashion products.
SpiceJet delays Q4 result announcement as ransomware attack hits audit process
Private airliner SpiceJet on May 27 said a ransomware attack on IT systems has affected its audit process, and due to this, there will be a delay in the announcement of its Q4 results for FY2021-22.
Taking Stock | Market ends in the green after 3 days of losses. Nifty above 16,150
After seeing a downtrend for three straight days, the Indian equity benchmarks ended higher on May 26 as buying in metal, IT, power, realty and banking stocks supported the market. At close, the Sensex was up 503.27 points, or 0.94%, to 54,252.53 and the Nifty was up 144.40 points, or 0.90%, to 16,170.20.
What is ailing Tech Mahindra despite a decent March quarter?
Information technology stocks are being hammered in India and across the world as uncertain economic scenario sparks concerns about the pace of recovery. Tech Mahindra has seen a marked correction recently despite its reasonably good results for the quarter ended March 2022. On May 27, the stock was trading at Rs 1,120, not too far from its 52-week low of Rs 993 and a decline of close to 40 percent from its 52-week high of Rs 1,838.
Continue read