nanika Editor

AU Small Finance Bank reported a strong financial performance for the first quarter ended June 2026 (Q1 FY27), posting a 37% year-on-year increase in net profit to ₹796 crore. The growth was driven by higher net interest income (NII) and lower provisions, although profit declined 4% on a sequential basis. The bank's NII rose 32% year-on-year to ₹2,695 crore, supported by healthy growth in advances. However, other income declined 15% to ₹689 crore during the quarter. Net interest margin (NIM), a key profitability indicator, improved by 59 basis points year-on-year to 5.9%, though it moderated by 7 basis points compared…

Pubali Bank is set to acquire Bengal Group of Industries’ 26-storey Swiss Tower located at Tejgaon-Gulshan Link Road in Dhaka for Tk800 crore. The development was revealed through a price-sensitive information disclosure approved by the bank’s board and published on Tuesday. According to the disclosure, the property is situated at 208, Tejgaon Gulshan Link Road. However, the proposed transaction will require approval from Bangladesh Bank and other relevant regulatory authorities before completion. The building is currently being developed by Bengal Hotel and Resort, a concern of Bengal Group of Industries, for the planned five-star Swissôtel Dhaka project. Sources said the…

The Delhi High Court on Wednesday upheld the Centre’s decision to deny an extension of the Production Sharing Contract (PSC) for Vedanta Ltd’s offshore Suvali oil block in Gujarat and allow Oil and Natural Gas Corporation Ltd (ONGC) to take over operations. Justice Purushaindra Kumar Kaurav dismissed Vedanta’s petition challenging the Ministry of Petroleum and Natural Gas’s September 19, 2025 order, which rejected the company’s 2021 application seeking a 10-year extension of the PSC signed on June 20, 1998. Vedanta had requested an extension of the contract until June 29, 2033. The company had previously received five interim extensions, with…

In a monumental milestone for the nation's space sector, India's first privately developed orbital rocket, Vikram-1, successfully lifted off from the Sriharikota spaceport on Saturday. Spearheaded by Skyroot Aerospace, the maiden voyage—dubbed 'Mission Aagaman'—marks the official entry of India’s private aerospace industry into the highly competitive global orbital launch market. The four-stage, seven-storey-tall vehicle lifted off majestically at 12:05 PM, overcoming a brief, planned navigation hold to flawlessly execute its mission. During its ascent, Vikram-1 successfully deployed multiple technology demonstration payloads into a 450-kilometer Low Earth Orbit (LEO). Among the primary payloads were Grahaa Space's 'Solaras' satellite and Cosmoserve Space's…

JSW Steel has reported a strong financial performance for the first quarter of the financial year 2026-27, with its consolidated net profit more than doubling year-on-year to ₹4,696 crore. The company had posted a net profit of ₹2,209 crore in the same quarter last year. The steel major’s revenue from operations increased by 9.8 per cent to ₹47,364 crore during the quarter ended June 30, 2026, compared with ₹43,147 crore in the corresponding period a year earlier. The company’s total income also rose by 10.6 per cent to ₹48,088 crore. Profit before tax witnessed a significant rise of 100.5 per…

Tata Consultancy Services (TCS) has launched a Gemini Experience Centre (GEC) in Kolkata in collaboration with Google Cloud to showcase artificial intelligence-led innovations for consumer-focused businesses. The new facility is part of TCS’s global initiative to establish industry-focused AI innovation hubs. The Consumer Business Group (CBG) Gemini Experience Centre is the third such facility launched by TCS in India, following centres in Chennai and Bengaluru. The company plans to establish 10 Gemini Experience Centres worldwide by the end of 2026, including four in India. The Kolkata centre will enable enterprises in sectors such as retail, consumer packaged goods, and travel,…

Tata Consultancy Services (TCS) has launched an Industrial AI Solutions Lab in Bengaluru in collaboration with Nvidia to help manufacturing and mobility companies develop, test and deploy artificial intelligence applications at scale. The new facility will enable enterprises to move beyond experimental AI projects and accelerate the transition towards production-ready solutions. The lab will support the design, testing and validation of Industrial AI applications by combining TCS’s industry expertise and technology capabilities with Nvidia’s advanced AI platforms. TCS said the facility will allow customers to rapidly prototype and simulate AI use cases across sectors such as manufacturing, mobility and industrial…

Private bank stocks have emerged as the top performers in the banking sector during FY27, significantly outperforming both public sector banks and the broader equity market. According to ACE Equity data, the Nifty Private Bank Index has gained nearly 17 per cent so far this fiscal, surpassing the Nifty 50’s rise of around 8.4 per cent, the Nifty PSU Bank Index’s 7.5 per cent gain, and the Nifty Bank Index’s 15.6 per cent increase. Market analysts attribute this strong performance to stable asset quality, improving business prospects, treasury gains, and supportive measures introduced by the Reserve Bank of India. These…

Shares of Oracle Financial Services Software (OFSS) have witnessed a sharp rally, gaining 92 per cent from their 52-week low recorded in March 2026, driven by strong investor confidence in the company’s technology-led growth strategy and improving business outlook. The stock touched a fresh 52-week high of ₹11,945.65 on the BSE, marking its highest level since January 2025. Over the past three months, OFSS has significantly outperformed the broader market, rising nearly 65 per cent compared with a marginal gain in the BSE Sensex. The company, along with its subsidiaries, provides information technology solutions to the global financial services industry,…