Mahindra susten articles
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Kotak Mahindra Bank shares plunge 10% after RBI bars onboarding customers digitally
Kotak Mahindra Bank share price today: The Reserve Bank of India's (RBI) decision to temporarily halt Kotak Mahindra Bank's onboarding of new customers through online and mobile banking channels, as well as the issuance of new credit cards, has led to a significant drop in the bank's share price. The stock fell by up to 10% to Rs 1,659 on the Bombay Stock Exchange (BSE) on Thursday as investors reacted negatively to the news.At 9:43 AM, shares of Kotak Mahindra Bank were trading at Rs 1,658.25,...
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Tech Mahindra Q4 net profit down 41% to Rs 661 crore; revenue tanks 6.2%
Tech Mahindra, country's fifth largest IT services firm, reported a decline in net profit of 40.9% year-on-year (YoY)to `661 crore primarily driven by slowdown in its telecom, communications, media and entertainment business, which is its largest vertical with 36.5% market share.The profit stood at Rs 1,118 crore in last year's March quarter. Sequentially, profit grew 29.6% from Rs 510 crore in the December quarter because of a one-off gain. The Pune-headquartered firm’s consolidated revenue...
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RBI bans Kotak Mahindra Bank from adding new customers through online banking, issuing credit cards
The central bank said it had found deficiencies in the private bank’s information technology system.