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Blackstone, the other contender, is in background for the likely Rs 5500-6500 cr buyout.

Lenders to Anil Ambani-promoted Reliance Capital decided they will not accept any topping offer outside the proposed auction process and negotiate only with the highest bidder, multiple people aware of the development told ET.

Several companies, according to banking circles, are unable to make fresh financial commitments to their offshore arms after the central bank made it clear that remittances would be allowed only after the lapses have been identified and fines are paid.

“The strong growth in net sales in India was related to mobile networks, as 5G deployments continued to ramp in Q1 2023,” said Nokia in its first quarter earnings statement.

"This is also a fit case where SEBI needs to send a stern message to professionals who associate themselves with securities market so as to prevent them from indulging in such acts of omissions and commissions as found in this case," Sebi said.

The CEO may spend much of the next six months on the road, meeting customers as he settles into the role. That will help him execute the customer-centricity task set by the TCS board headed by N Chandrasekaran, who’s also Tata Sons chairman.

The brokerage said Tata Consultancy Services, LTIMindtree, HCL Technologies, and Mphasis are most at risk of multiple downgrades while Infosys, Wipro, and TechM face greater earnings risks.

In the process, it became the 11th Indian listed company to touch ₹5 lakh crore in market capitalisation. In the last month, the stock has risen over 6% and yielded more than 20% returns since the beginning of calendar 2023.

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For the full financial year 2022-23, ICICI Prudential Life Insurance saw its net profit rise by 7.6% to ₹811 crore compared to ₹754 crore in FY22.