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Economic Times
23 minutes ago
- Economic Times
RBL Bank shares rally 3% as Dubai-based Emirates NBD Bank eyes up to 20% stake
Shares of RBL Bank rose 2.7% to Rs 266.95 on Wednesday after reports said Dubai government-owned Emirates NBD Bank is in talks to acquire up to a 20% stake in the private lender through a significant capital infusion. ADVERTISEMENT The stock, which has rallied more than 21% in the past month and over 64% in the past six, rose for an eighth time in nine sessions. It closed Tuesday at Rs 259.95, up 4.6%, with a market value of Rs 15,831.21 crore. The Emirates NBD Bank PJSC is in advanced discussions to acquire a minority stake in RBL Bank through a preferential allotment. This would mark a primary capital infusion into RBL and help the Dubai-government-owned lender deepen its Asia strategy. The deal, still under negotiation, could be similar in structure to the recent SMBC-Yes Bank investment. Emirates NBD may end up holding around 15–20% of RBL's expanded capital base, just below the open offer threshold, pending regulatory approval. That would translate to an investment of approximately Rs 3,166.24 crore. 'However, the deal is likely to take place at a premium to the current price,' people familiar with the matter told The Economic Times. RBL Bank is entirely publicly owned, with several domestic institutions holding modest stakes. Quant Mutual Fund owns 6.65%, Nippon Life India 3.11%, ICICI Prudential Life 1.06% and LIC 1.19%. Mahindra and Mahindra acquired a 3.48% stake in 2023, while Zerodha holds 1.24%. British International Investment exited its 3.82% holding in April. ADVERTISEMENT The Reserve Bank of India in May granted in-principle approval to Emirates NBD to convert its existing Indian branches in Chennai, Gurugram and Mumbai into a wholly owned subsidiary. The Dubai-based bank also recently launched investment banking operations in India.'There is a deep connect between UAE and India, both diplomatic and commercial. The bank has been eyeing opportunities but has not been very keen to buy into NBFCs (non-banking finance companies) unlike some of their peers,' an industry executive told The Economic Times. 'There is also a lot of synergy in wealth and other product distribution.' ADVERTISEMENT RBL Bank, originally set up 70 years ago in Maharashtra, transformed itself into a national player beginning in 2010, focusing on credit cards and microfinance. However, its differentiated asset strategy is considered cyclical and exposed to stress in unsecured the March quarter, RBL Bank's net profit fell 80% sequentially to Rs 68.7 crore, despite a rise in other income to Rs 1,000 crore. Net interest income dropped 2.3% year-on-year to Rs 1,563 crore. ADVERTISEMENT 'Business growth is gaining traction and slippages are expected to normalise by 2QFY26,' Nitin Aggarwal, analyst at Motilal Oswal told The Economic Times. 'Margins will be flattish to lower before it will claw back up. The trajectory is expected to improve starting FY26. The cards business is expected to grow in the mid-single digits.' Despite the stock's recent rally, analysts say it still trades below book value and remains among the most affordable banking stocks in India, with a P/E ratio of over 21. However, sources caution that talks may not result in a deal. The lender is also exploring a capital raise from institutional investors as a fallback. ADVERTISEMENT If successful, Emirates NBD's move will mark the second major investment from West Asia into an Indian bank this quarter. In April, Abu Dhabi Investment Authority and Warburg Pincus committed Rs 7,500 crore to IDFC First Bank. Also read | Emirates NBD eyes RBL Bank stake for India, Asia play (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
an hour ago
- Time of India
'Rs 43.5 LPA for NIT topper and then suddenly laid off': Thyrocare founder's warning to young professionals
A post about an NIT topper who was unceremoniously laid off from his Rs 43 lakh per annum job created quite a stir on the Internet recently. The man who had shared the news also added that he had been offered just three months of a severance package. Responding to the tweet, Thyrocare founder Dr. A. Velumani observed that this should serve as a cautionary tale for wide-eyed engineering hopefuls desirous of landing a well-paid job. Warning graduates to be alert, he explained that a significant number of companies participating in campus placement drives and making seemingly attractive CTC (cost to company) promises often have hidden motives. Their primary agenda is usually to inflate their financial records for the next three to five years, rather than genuinely invest in long-term employee growth. These organizations attract fresh talent with impressive-sounding compensation packages. However, once a candidate becomes financially dependent—usually after taking on monthly EMIs based on their expected salary—the company abruptly ends the association, leaving the individual vulnerable and stranded without support or stability. Such practices can cause serious disruptions in the personal and professional lives of unsuspecting students. They fall prey to false hopes, unaware that the offer was more about corporate window dressing than career development. 'All that glitters is not gold,' he warned followers. — velumania (@velumania) According to the poster who shared the news of the unfortunate NIT alumnus, he revealed that, suddenly bereft of a job, he was facing potential financial difficulties. Although he was fortunate enough not to have a home loan burden, the situation remains challenging. With no current source of income, he is relying solely on his savings and the severance package received from his previous employer. These limited funds are being used to cover essential expenses, the most critical being his children's school fees, which amount to Rs 1.95 lakh per child each academic year. — venkat_fin9 (@venkat_fin9) The financial strain, however, is only one part of his struggle. The emotional impact has been even more devastating. The sudden shift from stability to unemployment left him feeling completely uprooted and overwhelmed. He confided that he felt as though he had been thrown out into the streets, with no support or direction, and was battling an intense sense of abandonment. Dr. Arokiaswamy Velumani: From Modest Roots to Healthcare Visionary Born on April 12, 1959, Dr. Arokiaswamy Velumani is a renowned Indian entrepreneur who built his success from the ground up and emerged as a billionaire in the healthcare diagnostics space. Widely respected for his transformative role in the medical testing sector, he is the visionary behind Thyrocare Technologies Ltd. , a prominent diagnostic service provider headquartered in Navi Mumbai. The company has redefined affordability and reach in preventive and diagnostic healthcare across India. Dr. Velumani's trailblazing efforts didn't stop with Thyrocare. He went on to launch Nueclear Healthcare Limited, a cutting-edge radiology company aligned with Thyrocare. Nueclear specializes in nuclear imaging and cancer diagnostics, bringing high-end diagnostic tools and technologies within reach for the average Indian citizen. Through his relentless drive and innovative approach, Dr. Velumani has played a key role in reshaping the landscape of medical diagnostics. He has focused on making accurate and reliable testing more affordable, thereby enabling a wider section of society to access early detection and disease monitoring services. His efforts have directly contributed to improving public health outcomes while simultaneously setting new benchmarks for cost-efficiency in the industry. As per a Forbes report from 2021, Thyrocare Technologies reached a market value of Rs 7,000 crore, and Dr. Velumani's personal share in the company was estimated to be around ₹5,000 crore. This financial milestone reflects the scale and impact of the enterprise he nurtured from scratch. Dr. Velumani's life story—from growing up in modest conditions to establishing a billion-rupee empire in the healthcare sector—stands as a powerful inspiration. His journey is a shining example for emerging entrepreneurs who dream of creating meaningful, large-scale change through persistence, innovation, and integrity.
The Hindu
5 hours ago
- The Hindu
Polavaram irrigation project will be commissioned in 2027, says A.P. CM Naidu
Andhra Pradesh Chief Minister N. Chandrababu Naidu has announced that the Polavaram irrigation project on the Godavari will be commissioned in 2027. Mr. Naidu distributed social welfare pensions to the beneficiaries as part of 'Pedala Sevalo' (service to poor) programme at Molakapalli village near Kovvur in East Godavari district on Tuesday (July 1, 2025) . Addressing the gathering after interacting with some beneficiaries, Mr. Naidu said, 'Six per cent of the construction work has been completed at Polavaram project site within a year, resulting in completion of 82% of the total construction work.' Mr. Naidu said that barely 4% of the work was completed during the YSRCP's tenure. 'The ongoing construction work of the diaphragm wall will be completed by the end of 2025. The global experts are monitoring the work,' the Chief Minister said. Referring to the achievement during the one-year NDA rule in the State, Mr. Naidu said that the government had attracted investment worth ₹9.5 lakh crore, with the potential to create 8.5 lakh jobs. Works worth of ₹5 lakh crore investment is in progress. On the upliftment of the poor families through the Public Private People Partnership (P-4) model, Mr. Naidu said a target has been set to ensure adoption of 10 lakh poor families by August 15. 'The Tata, Birla and Adani groups have pledged to adopt some poor families. I have decided to run after those who could afford to adopt some poor families to achieve the target,' Mr. Naidu said. In Andhra Pradesh, nearly one lakh poor families have been adopted by various individuals and groups. On delivering the Super Six promises, Mr. Naidu clarified that the free bus service for women would be implemented from August 15.
