Axis Bank Ltd on Thursday reported a wider-than-expected one-time loss in the fourth quarter, weighed down by costs incurred due to its $1.41 billion Citi deal. Axis reported a loss of 57.28 billion rupees ($700.1 million) for the three months ended March 31, compared to a profit of 41.18 billion rupees a year earlier. Axis, […]
Reliance Industries Ltd (RIL) and Walt Disney signed a non-binding term sheet in London last week to move ahead with plans to create India’s largest media and entertainment business, said people with knowledge of the matter. The 51:49 stock-and-cash merger in favour of the Mukesh Ambani-led group is expected to get finalised with a view […]
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