Deposits rose nearly 17 percent YoY and 8 percent QoQ in Q4 FY22 while advances gained 21 percent YoY and near 9 percent QoQ. CASA Ratio was at an all-time high of 48.2 percent.
The company sold 4.50 lakh units of motorcycles and scooters in March 2022, declining sharply compared to 5.76 lakh units sold in the corresponding month last year. In FY22, sales dropped to 49.44 lakh units, compared to 57.91 lakh units sold in previous year.
The company has collaborated with the University of South Carolina to advance AI-led Innovation. It has also collaborated with the Indian Institute of Technology, Patna to Advance AI-led Innovation.
The company has signed an agreement with Anglo-French Drugs & Industries for acquiring a portfolio of brands. This will strengthen the company’s presence in vitamins, minerals & supplements and CNS segments.
The bank clocked a 6.27 percent growth in core deposits at Rs 80,385 crore for the year ended March 2022 compared to the previous financial year, and gross advances during the same period grew by 9.5 percent to Rs 57,726 crore. The share of CASA to total deposits stands increased at 32.97 percent in March 2022, against 31.5 percent at the end of March 2021. The private sector lender expects 12 percent growth in deposits and about 17 percent in gross advances for FY23.
ISP Chile (Public Health Institute of Chile) had conducted an inspection at the company’s manufacturing facility at Daman, India from March 28 to April 1, 2022. At the end of the inspection, no observations critical to good manufacturing practices were detected.
TVS Motor Company
Subsidiary TVS Motor (Singapore) has acquired 70 percent stake in UK-based EBCO, for GBP 1,163,070. EBCO provides smart connected mobility solutions through a pipeline of e-bikes across the city and mountain biking segments. In addition, TVS Motor registers sales of 3.07 lakh units in March 2022, which fell compared to 3.22 lakh units sold in same month last year.
The company has received a notice of demand of Rs 45.72 crore from the Income Tax Department. This notice is in connection with Joint Development Agreement for the land at Kukatpally, Hyderabad, pertaining to the assessment year 2013-14. But as per the company, aforesaid notice is not tenable in law.
Dr Reddy’s Laboratories
The company has entered into an agreement with Novartis AG to acquire the cardiovascular brand Cidmus in India. The acquisition cost is $61 million.
Subsidiary JSW Neo Energy has entered into an agreement with the Government of Chhattisgarh for setting up a 1,000 MW capacity of hydro pumped storage project in Chhattisgarh.