South Indian Bank on Thursday confirmed a net loss of Rs 91.62 crore for the third quarter on account of higher credit cost. The Thrissur-based lender had reported a net profit of Rs 90.54 crore during the year-ago period. In the preceding quarter, the bank had reported a net profit of Rs 65.09 crore. The operating profit for the third quarter is seen 1% lower year-on-year at Rs 377 crore.

On January 22, gold was trading lower in the Indian market, thanks to the muted trend in international spot prices. On the Multi-Commodity Exchange (MCX), February gold contracts were trading lower by 0.17% at Rs 49,364 for 10 grams at 0920 hours. March silver was trading 0.74% lower at Rs 66,804 a kilogram. Investors can use the dip towards Rs 49,100 to buy for a target of Rs 49750 per 10 gm.

Two health care workers were admitted to hospital after experiencing Adverse Event Following Immunisation (AEFI) on receiving jab of COVID-19 vaccine in Odisha. The condition of both the health care workers in Jagatsinghpur and Bargarh district was stated to be stable. They developed a headache, fainting attack, and fever on the very day of receive g the shot.

The Civil Aviation Ministry clarified a buzz claiming that Finance Ministry and NitiAayog raised objections over Adani’s clean sweep of six airports during the 2019 PPP bidding process. The ministry called this buzz as "factually incorrect". Out of 86 registrations, 32 bids were received from 10 different entities for 6 airports, and the quote of Adani Enterprises Limited was the highest.

Chinese billionaire Jack Ma resurfaced after being out of the public eye for months. But his real troubles—and those of his business empire—may be just beginning. Mr. Ma made his first public appearance in nearly 3 months on Wednesday. Speculation about his whereabouts has been rife since his last public appearance in October when he gave a speech that angered regulators.

Bajaj Auto is now ready to open bookings for the Chetak in 24 more cities in FY22 after a year of launching its first all-electric scooter. The company initially restricted them to just Pune and Bengaluru due to the disruption in the supply of the battery cells powering the Chetak. These cells were to be procured by Bajaj Auto’s India vendor from Wuhan, the epicentre of the pandemic in China.

Bandhan Bank’s total business (deposits and advances) improved 26% yoy to reach Rs1.51 lakh crore in the Q3 results declared on Thursday. The Bank, which completed five years of operations in August 2020, serves 2.25 crore customers through 5,197 banking units and branches. The total number of employees working at Bandhan Bank stands at 47,260.

JK Tyre and Industries share reached a 52-week high in the morning session on Jan 22, a day after the company reported a multi-fold jump in consolidated net profit to Rs 230.46 crore in the Q3 2020, riding on robust sales and favourable foreign exchange fluctuations. The tyre manufacturer had posted a consolidated net profit of Rs 10.27 crore during the said quarter.

HDFC Bank share price declined in early trade on January 22 after the Securities & Exchange Board of India (Sebi) levied a monetary penalty on the bank. Sebi, vide its Final Order dated January 21, 2021, has levied a monetary penalty of Rs 1 crore payable by the bank with regards to BRH Wealth Kreators case. fThe private lender reportedly did not comply with the interim order issued by SEBI.

Sequoia-backed D2C beverages brand Raw Pressery might be acquired by ready-to-eat food brand Wingreens Farms in a distress sale. The valuation of Raw Pressery is expected to be around INR 100 Cr - INR 110 Cr. Incidentally, both companies count Sequoia Capital India as an investor. Raw Pressery's valuation has been discounted due to a severe downturn in the business in the past year.

Petrol and diesel prices scaled a record high of Rs 85.45 a litre and Rs 75.63 a litre, respectively, in Delhi on January 22. Oil marketing companies raised the prices of both petrol and diesel by 25 paise on the day, with the prices hitting an all-time high. In Mumbai too, fuel rates increased to a new record high of Rs 92.04 a litre on petrol and Rs 82.40 a litre on diesel.

JSW Steel is expected to record robust YoY growth in the bottom line as well as operating earnings, with around 18% increase in revenue for the quarter ended December 2020, led by a strong improvement in volumes and realisations. "Its EBITDA is likely to increase 146.3 percent YoY. EBITDA margin is expected to improve 1,456bps YoY due to higher realizations," opined IDBI Capital.

Financial information of 3.3 lakh Indian users of Cryptocurrency Exchange Company BuyUCoin have been leaked to the dark web by a hacker group called ShinyHunters on January 20. Information includes sensitive data such as bank account details (account type, bank IFSC code), KYC documents, and PAN numbers accessed through an alleged “breach in database” of BuyUCoin.

Ahead of a potential listing on exchanges, Zomato is on the verge of closing a $500 million investment that would value the Gurugram-based company at around $5.5 billion. Existing investors Tiger Global, Kora Investments, and Steadview will participate in the financing round. Zomato is aiming for an IPO by June this year valuing the company at $6-8 billion in the public market.

Mphasis Ltd registered 8.68% growth YoY in Dec-20 quarter consolidated revenues at Rs2,474.39cr. The company experienced aggressive growth in its banking and capital market practice, which is its biggest chunk. However, logistics, IT and insurance practice were flat to negative on a YoY basis. Consolidated Profit after tax (PAT) for the Dec-20 quarter was up 10.88% at Rs325.53cr.