Aditya Birla Capital

Aditya Birla Capital to sell insurance broking business to Edme Services

Financial Services firm Aditya Birla Capital on Monday said it has decided to sell its entire stake in Aditya Birla Insurance Brokers Limited (ABIBL) to Edme Services for an undisclosed amount. The proposed deal includes the sale of the entire 25,65,103 equity shares of Rs 10 each held by the company (along with its nominees), representing 50.002 per cent of the issued and paid-up share capital of ABIBL to Edme Services Private Limited, Aditya Birla Capital said in a regulatory filing. The purchaser is part of the Samara Capital Group and an affiliate of Samara Alternate Investment Fund, it added. The proposed transaction is subject to receipt of the approval of the Insurance Regulatory and Development Authority of India (Irdai), it added. As per reasonable estimates, the proposed transaction is expected to be completed within 120 to 180 days from the execution of the share purchase agreement (SPA).

Aditya Birla Capital's Q3 net up 27% YoY as retail, SME lending grows

Strong performance across businesses help 40% YoY growth in lending book

Aditya Birla Capital considering selling insurance brokerage unit

The publicly-traded company has held talks with potential buyers about a sale of Aditya Birla Insurance Brokers Ltd. as it failed to scale up the 19-year-old business

Aditya Birla Capital to seek regulator role in RCap resolution process

Warns it will seek intervention if RCap's Administrator ignores its demand for additional info on the company

Birla Corp posts Rs 56.4-crore net loss in Q2, appoints new MD & CEO

The company said profitability was impaired by a sharp increase in power and fuel costs, which could not be passed on to consumers

Aditya Birla Capital Q2 profit rises 30% to Rs 488 cr, revenue up 21%

Aditya Birla Capital on Monday reported its highest-ever quarterly profit at Rs 488 crore on a consolidated basis for the quarter ended September 2022, up by 30 per cent from a year ago, led by growth momentum across businesses. It had posted a net profit of Rs 377 crore in the same period a year ago. The total consolidated revenue of the company grew by 21 per cent to Rs 7,210 crore in the July-September period of 2022-23 from Rs 5,970 crore earlier, Aditya Birla Capital Ltd (ABCL) said in a release. The strong momentum across businesses led to a 31 per cent year-on-year growth in the overall lending book (NBFC and housing finance) to Rs 77,430 crore and a 24 per cent year-on-year growth in the gross premium (life and health insurance) to Rs 4,394 crore, ABCL said. It added nearly 20 lakh customers during the quarter, leading to a 47 per cent yearly growth in the total customer base to 4.1 crore. The company is present in non-banking finance (NBFC) business, housing finance, asse

Top Headlines: Zee shareholders on Sony merger; India wheat flour export

India has allowed export-oriented units and the firms set up in Special Economic Zones to export flour made from imported wheat, a government order said. Read more on this in our top headlines

Aditya Birla Capital joins race to acquire life insurer Reliance Nippon

Reliance Capital holds 51 per cent stake in RNLIC and Nippon Life of Japan the rest

Stocks to Watch: ONGC, Reliance, Zomato, Adani Wilmar, IndiGo,Vodafone Idea

Stocks to Watch today: Uber has decided to put its entire 7.8 per cent stake in Zomato on the block, according to sources.

Classic leverage buyouts must be allowed in India: Advent's Shweta Jalan

'Will not look at younger start ups where the cheque size threshold is met just because of high valuation'

Found no merit in whistleblower complaints, says Aditya Birla Capital

A news report on Monday said a 16-page whistleblower complaint alleging corruption, insider trading and front running at Aditya Birla MF was sent to the board of Aditya Birla Capital

Aditya Birla Capital profit after tax rises 20% to Rs 450 cr in March qtr

The consolidated revenue of the company for Q4 FY22 grew 18 per cent from a year ago to Rs 6,962 crore, Aditya Birla Capital (ABCL) said in a release

Aditya Birla Sun Life AMC quarterly profit rises to Rs 158.5 crore

In comparison, the company had posted a Profit After Tax (PAT) of Rs 156.7 crore in the year-ago period, according to a filing to the stock exchanges

Career banker Vishakha Mulye to be new CEO of Aditya Birla Capital

Incumbent Ajay Srivinasan shall take up another role within the Aditya Birla Group.

ABCL can break into top 100 club of most-valued listed firms: Analysts

Analysts are upbeat on the long-term prospects of Aditya Birla Capital and have set price targets between 20 per cent and 45 per cent higher than the current market price

Grasim Industries' net profit jumps 23% to Rs 2,655 cr in Dec quarter

The company had posted a net profit of Rs 2,157.12 crore during the October- December quarter of the previous financial year, Grasim Industries said in a regulatory filing

Aditya Birla Capital Q3 consolidated net doubles to Rs 577 cr

Improved interest margins; AMC stake sale boost bottomline

Aditya Birla Money allots 1.6 mn non-convertible preference shares

Non-convertible redeemable preference shares are preference shares that can be redeemed and do not include a preference share that is convertible into or exchangeable with equity shares of the issuer

Aditya Birla Capital posts its highest qtrly profit of Rs 377 cr in Jul-Sep

The company had posted a consolidated net profit of Rs 264 crore in the same period a year ago

Aditya Birla Capital reports highest ever quarterly net profit at Rs 302 cr

The company had posted a net profit of Rs 198 crore in the year-ago period.