Business News Highlights: Stock Market Closes Higher, Sensex Up 253 Points, Nifty Above 22,460
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RBI Greenlights Pradeep Natarajan As Whole Time Director For IDFC FIRST Bank
The private sector lender IDFC FIRST Bank announced that the Reserve Bank of India (RBI) has approved the appointment of Pradeep Natarajan as a Full-Time Director on its Board. According to a regulatory filing by IDFC FIRST Bank on Thursday, Pradeep Natarajan has been designated as the bank's Executive Director for a three-year tenure.
Indian Rupee Closes At 83.33 Against US Dollar, Gains 17 Paise
The rupee strengthened by 17 paise to close at 83.33 (provisional) against the US dollar on Friday, buoyed by positive domestic market sentiments and anticipated foreign inflows. Forex traders noted that reports of the Reserve Bank of India (RBI) selling US dollars further bolstered the rupee.
Stock Market Close: Sensex Settles 253 Points Up, Nifty At 22,466
This week, both Indian stock market indices, the Sensex and the Nifty 50, demonstrated a robust recovery, surging nearly 2 per cent each. On Friday, the Sensex concluded 253 points higher, marking a 0.34 per cent increase to 73,917, whereas the Nifty 50 ended the day at 22,466, climbing 62 points or 0.28 per cent.
HDFC Bank Secures $500 Million From IFC To Empower Women Borrowers
HDFC Bank announced on Friday that it secured $500 million from IFC to provide lending opportunities to underserved women borrowers. According to an official statement, the leading private sector bank in the country intends to use the funds to support income generation, promote financial inclusion, and drive socio-economic development. Specifically, HDFC Bank plans to offer microloans to self-help groups and joint liability groups of women participating in the Sustainable Livelihoods Initiative (SLI) established by the bank.
GSK Pharma Q4 Result: Net Profit Increases 46% To Rs 194.48 Crore
GlaxoSmithKline Pharmaceuticals experienced a 46 per cent surge in consolidated net profit in the fourth quarter, which ended March 31, reaching Rs 194.48 crore, attributed to increased sales. This marks a significant rise from the Rs 133.43 crore net profit recorded in the same quarter of the previous fiscal year, according to a regulatory filing by GlaxoSmithKline Pharmaceuticals.
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