Markets Daily Banks: Several large and mid-sized banks aggr | DK Technical Analysis by Dhananjay Kadam

Markets Daily

Banks: Several large and mid-sized banks aggressively wrote off large chunks of legacy bad loans in the March quarter as they sought to bring down their non-performing assets.

Reliance Industries: The Indian government has challenged an arbitration award, before an English High Court, over a cost recovery dispute in the western offshore Panna-Mukta and Taoil and gas fields of Shell and Reliance Industries.

Maruti Suzuki India: The country’s largest carmaker is looking at “some action" in the mid-SUV segment to strengthen its market share in the vertical, to sustain the its current 50% levels in overall domestic passenger vehicle sales.

Tata Steel: The company is considering prepaying up to $1 billion ( ₹7,315 crore) of foreign loans, taking advantage of a commodity price super cycle that has boosted its cash position.

DHFL: Dewan Housing Finance Corporation (DHFL) on Sunday reported a consolidated net profit of Rs96.75 crore for the quarter ended March. The company, undergoing the corporate insolvency process, had posted a net loss of Rs7,507.01 crore in the year-ago period.

RBL Bank: The Reserve Bank of India (RBI) has approved the re-appointment of Vishwavir Ahuja as managing director and CEO of the bank, for another year, effective 30 June.