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The board has appointed Praveen Kumar Tripathi, a non-executive independent director, as chairperson until June 30, 2025, said a separate exchange filing by the company. It also stated that directors will serve as chairperson on a rotational basis, holding office for a calendar quarter.

Net profit for the third quarter rose to Rs 148.85 crore, up from Rs 109.71 crore for the same period a year ago, the company reported in a filing to the exchange.

Asian equities were expected to rise as markets reacted positively to a delay in potential US tariffs, raising hopes for negotiations. This optimism led to gains in Australia, Japan, and Hong Kong, and a record high for global stocks. Meanwhile, US President Donald Trump indicated possible reciprocal tariffs on trading partners.

Hindalco Industries reported a 60% growth in its December quarter consolidated net profit at Rs 3,735 crore versus Rs 2,331 crore reported in the year ago period.

The IRDAI had asked 10 large insurance companies, also including Bajaj Allianz Life, Bajaj Allianz General, Tata AIA, and Tata AIG General Insurance, to submit listing plans by the first week of February. While nine have now submitted their plans, one has asked for time until later this month to submit its proposal, the person said.

The RBI also conducted an overnight variable rate repo (VRR) auction for ₹2.75 lakh crore, where RBI received bids for ₹2.35 lakh crore. System liquidity stood at a deficit of ₹2.07 lakh crore on Wednesday, and has been in a daily average deficit of ₹1.28 lakh crore in February.

In April 2024, the central bank took supervisory action on Kotak Bank, directing the lender to "cease and desist" onboarding new customers through the bank s online and mobile banking channels and issuing fresh credit cards with immediate effect.

The Reserve Bank of India has placed restrictions on New India Co-operative Bank of Mumbai, citing liquidity concerns. With deposits amounting to Rs 2436 crores at the end of March 2024, the bank is now prohibited from granting loans, renewing advances, or accepting new deposits starting February 13, 2025, to safeguard depositors interests.

​​Within financials, funds bought SBI Cards where declining incremental delinquencies in the credit card book could result in better numbers. PB Fintech was another pick as the company benefits from growing insurance penetration in the country.

RBI has told at least two state-owned banks to penalize corporate clients for breaching foreign exchange laws by obtaining guarantees from overseas banks. While such guarantees are barred under FEMA, RBI s 2019 master direction allows them. The discrepancies between these regulations have led to confusion and potential legal conflicts, prompting RBI to demand regularization.