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BusinessPhoto: Amar Business

Finance Ministry Clarifies on IDBI Bank Stake Sale, Cites Delhi HC Verdict

The Finance Ministry issued a clarification on legal concerns about reducing the government's stake in IDBI Bank. It noted that a 2003 parliamentary amendment proposal to limit stake reduction was rejected and never became law. The clarification follows the Cabinet Committee on Economic Affairs approving the sale of 60.72% stake in IDBI Bank to Fairfax Financial Holdings for ₹52,878.08 crore. The ministry cited a 2018 Delhi High Court ruling that parliamentary statements do not bar the government from reducing its stake.

Amar Business·

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BusinessPhoto: News18 Hindi

IIM Lucknow Summer Placement Report Shows 16.5% Rise in Average Package

IIM Lucknow released its Summer Placement Report 2025-26 for the PGP batch, recording a 16.5% increase in the average package. The highest stipend offered was Rs 3.95 lakh per month, with an average stipend of Rs 1.67 lakh per month. Consulting and IT sectors received the most offers during this placement season.

News18 Hindi··Lucknow

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BusinessPhoto: News18Hi Business

Global Funds Eager to Invest in Jio IPO, Demand Rs 2.5 Lakh Crore

Major global institutional investors, including GIC, BlackRock, and ADIA, are eager to invest in India's largest IPO, Jio. The demand from these investors has already reached around Rs 2.5 lakh crore. Several prominent family offices are also expected to participate in this IPO, reflecting strong interest from diverse financial entities worldwide.

News18Hi Business·

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BusinessPhoto: Amar Business

HDFC Bank Q2 Profit Rises to ₹19,510 Crore; Axis Bank Reports 38% Profit Growth

HDFC Bank and Axis Bank, two major private lenders in India, released their Q2 FY27 financial results. HDFC Bank's net profit rose 4.6% year-on-year to ₹19,510 crore, with net interest income increasing 9.7% to ₹34,620 crore. The bank's net interest margin stood at 3.16% on total assets. Asset quality remained stable with a slight decline in NPAs. Axis Bank reported a strong 38% increase in net profit.

Amar Business·

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EntertainmentPhoto: TOI Entertainment

Anil Ravipudi Announces Keerthy Suresh's Role in January 12 Vidudala

Director Anil Ravipudi revealed that Keerthy Suresh will play Latha Reddy in the film 'January 12 Vidudala'. The movie stars Venkatesh and Nandamuri Kalyan Ram in lead roles, with Krithi Shetty also featured. Filming began recently in Ooty, Tamil Nadu, after earlier shoots in Mysuru. Venkatesh's first look was released to mark his 40 years in the film industry.

TOI Entertainment··Ooty

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EntertainmentPhoto: NDTV Movies

Veteran Tamil Composer Deva Dies at 75; Rajinikanth Pays Tribute

Deva, a veteran Tamil music composer known for his work in over 400 South Indian films across nearly four decades, has died at age 75. He was celebrated for popularizing Chennai's unique gaana music style in mainstream cinema. Actor Rajinikanth paid his last respects to the legendary composer, honoring his significant musical legacy.

NDTV Movies··Chennai

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