Stocks to Watch: Kotak Bank, RIL, Bajaj Auto, Infosys, ONGC, IDFC First
Kotak Mahindra Bank: Uday Kotak on 1 September announced to step down as managing director and chief executive officer of Kotak Mahindra Bank, and with this, the baton was passed to Joint Managing Director at Kotak Mahindra Bank -- Dipak Gupta. Gupta will carry out the duties of the MD and CEO until 31 December, which is subject to the approval of the RBI and the members of the bank.
Uday said he would continue as a non-executive director of the bank. Reliance Industries: Indian billionaire Mukesh Ambani's Reliance Retail Ventures is in advanced talks with global investors to raise around $2.5 billion by the end of September, ahead of a potential stock market listing, people familiar with the matter told Reuters.
Three sources said the target fundraising of $2.5 billion is part of a combined $3.5 billion target the firm has set for itself, a part of which - $1 billion - came from Qatar Investment Authority (QIA) and was announced last month. Bajaj Auto: Bajaj Auto's subsidiary, Bajaj Auto Consumer Finance, has received the Certificate of Registration from the Reserve Bank of India (RBI) to start the business of the non-banking finance company (NBFC), the company informed the stock exchanges in its filing on September 1, according to MoneyControl reports.
In 2021, Bajaj Auto announced the setting up of a 100% captive finance subsidiary ‘Bajaj Auto Consumer Finance’. Infosys: IT services company Infosys on Friday said it has completed the acquisition of Danske Bank's IT centre in India.
Danske Bank chose Infosys as a strategic partner to drive digital transformation initiatives with speed and scale, and this follows the announcement of the collaboration made on June 26, 2023, a release by Infosys said. Danske Bank's IT
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