Market Today
The DHFL came in the eye of the storm after a report suggested that the company, through layers of shell companies, allegedly siphoned off ₹31,000 crore out of total bank loans of ₹97,000 crore.
"A fraud of ₹3,688.58 crore is being reported by Bank to RBI in the accounts of the Company (DHFL)," PNB said in a stock exchange filing.
2. TCS: Q1 profit slips 13.8% YoY to Rs 7,008 cr, wins deals worth $6.9 bn
The net profit slipped 13 per cent. The company had logged a profit of Rs 8,131 crore in the year-ago period.
Further, the company said it added new deals worth $6.9 billion during the recently concluded quarter.
3. Flipkart Group invests Rs 260 crore to pick minority stake in Arvind Fashions arm
Through this investment, the Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points.
4. Cognizant’s India chief Ramkumar Ramamoorthy resigns
Ramkumar Ramamoorthy, Chairman and Managing Director, Cognizant India has resigned after 23 years with the company.
5. HCC Q4 results: Construction company reports consolidated net profit of Rs 311 cr
The company had clocked a loss of Rs 883.18 crore in the corresponding quarter of 2018-19, it said in a regulatory filing to the BSE.
It said the company is yet to ascertain the precise impact of COVID-19 on its operations and is working solutions with its various government agency clients.
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