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The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.

The Sensex fell 694.96 points or 1.13% to close at 61,054.29, a day after the index surged to its highest in four and a half months. The Nifty declined 186.80 points or 1.02% to end at 18,069. Both the indices once again turned negative for the year on Friday, pulling back about 0.5% year-to-date.

The successful bidder has proposed to pay over ₹1,464 crore to acquire the company through an insolvency process, against the total admitted liabilities of ₹1,513 crore.

The revenue growth was led by an increase in gross merchandise value (GMV), higher merchant subscription revenues, and growth of loans distributed through the company’s platform.

Dabur on Thursday announced that its Q4 profit rose marginally to Rs 301 crore while its revenue grew 6% year-0n-year (YoY).

The Securities and Exchange Board of India (Sebi) has stated that issuers of transition bonds will have to make additional disclosures to ensure that funds raised are for legitimate purposes. To differentiate from other types of green debt security, the debt instruments must include GB-T in the type of instrument field in the term sheet and issuers must disclose interim targets and indications of how much they plan to reduce their emissions. Sebi added that the implementation of the transition plan should be overseen by an appropriate committee.

Federal Bank has reported a 67% increase in net profit at INR 903 crore ($121m) for the March quarter. The lender’s net interest income rose 25% YoY to INR 1,525 crore, which helped offset the impact of provisions, which rose to INR 117 crore from INR 75 crore YoY. The bank’s return on equity stood at an all-time high of 17.48%. Federal Bank’s total advances rose 20% YoY to INR 1.77 lakh crore; deposits grew 17% to INR 2.13 lakh crore.

Foreign passive funds could sell about $200m worth of HDFC Bank after its merger with HDFC, with overseas investors likely having invested nearly $3bn in the merged entity, prior to the current calculation. HDFC shares slid 5.6% to INR2,701.15 ($35.87) while HDFC Bank shares fell 5.9% closing at INR1,625.35, their highest single-day decline since May 2020. HDFC Bank will be added to the large-cap segment of MSCI Global Standard Indexes following an adjustment factor of 0.5, MSCI said. HDFC Bank is subject to a foreign ownership limit of 74%, with the foreign headroom in relation to the merged entity now at 18.23%.

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According to blockchain and smart contract security company CertiK, the total fund hackers managed to drain in April from crypto projects was $103.7 million.