Last Updated: 28 Nov 2020 01:11 PM

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  • Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

    Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank.   The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.

  • India's Q2FY21 GDP contracts 7.5%, manufacturing sees recovery amid COVID-19 pandemic

    India's Gross Domestic Product (GDP) contracted 7.5 per cent in the July-September quarter, data released by the government on Friday showed. The GDP at constant (2011-12) prices in Q2 of 2020-21 is estimated at Rs 33.14 lakh crore, as against Rs 35.84 lakh crore in Q2 of 2019-20, showing a contraction of 7.5% as compared to 4.4% growth in Q2 of 2019-20, the Ministry of Statistics and Programme Implementation said. The Reserve Bank of India's internal model had anticipated a GDP contraction of 8.6 per cent for the July-September quarter.

  • Burger King IPO to open on Dec 2; price band fixed at Rs 59-60 per share

    Quick service restaurant (QSR) chain Burger King will hit the capital markets on December 2, and the price band of the initial public offering (IPO) has been fixed at Rs 59-60 per share. The proposed IPO will see the Indian subsidiary of the US-based Burger King raise Rs 810 crore, comprising a fresh issue of shares amounting to Rs 450 crore, the company said at a virtual road show. Promoter entity QSR Asia Pte Ltd will sell up to 6 crore shares, aggregating to Rs 360 crore at the upper end of the price band, it added.

  • Sensex, Nifty start on tepid note amid weak global cues

    Equity benchmarks Sensex and Nifty opened on a tepid note on Friday, tracking subdued cues from global markets.

  • India's second-quarter GDP data to be released today

    The second-quarter gross domestic product (GDP) data on India will be released today with the industry expecting positive news. The data will be released by the National Statistical Office.