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Wednesday, May 15, 2019

Indian Bank posts net loss of Rs 190 cr in Q4
State-owned Indian Bank yesterday reported a net loss of Rs 189.77 crore in the fourth quarter of the financial year ended March 2019, as high level of bad loans required substantial amount to be kept as provisioning parking. The bank had registered a net profit of Rs 131.98 crore during the similar January-March quarter of 2017-18. Its total income in the March 2019 quarter, however, was up at Rs 5,537.47 crore as against Rs 4,954.21 crore in the corresponding period a year ago, the bank said in a regulatory filing.

Deepika Padukone invests in yogurt brand Epigamia
Bollywood actress Deepika Padukone has made an investment in Drum Foods International Pvt Ltd, the maker of flavoured yogurt brand Epigamia, as part of a strategic partnership that will also see her endorse the brand. The investment will be used by the firm to expand into new products and enter new cities, the company said in a press statement.

Veeba Foods launches V-Nourish
Popular consumer brand, Veeba Foods has forayed into child nutrition segment with its new brand, V-Nourish, a scientifically designed wholesome nutrition supplement for kids above 5 years. Launched in 4 variants V-Nourish is available in modern trade and general trade stores across top 100 cities in the country. “The journey of V-Nourish started with my desire to give the best-in-class nutrition to my children. While we parents are always concerned about our child’s nutrition, they are driven by taste. After 3 years of research & development, we are proud to announce V-Nourish, which perhaps has the highest nutrition in the category,” said, Viraj Bahl, Founder & MD of Veeba and V-Nourish.

Inox Leisure Q4 profit falls 16.65% at Rs 48.08 cr
Multiplex operator Inox Leisure has reported a 16.65% fall in consolidated profit at Rs 48.08 crore for the quarter ended March 31, 2019. The company had posted a profit of Rs 57.69 crore in the same period a year ago. Total income stood at Rs 484.09 crore, up 46.76% from Rs 329.85 crore in the year-ago quarter, Inox Leisure said in a regulatory filing. Total expenses during the quarter under review were at Rs 410.93 crore, up 32.29%, as against Rs 310.61 crore reported in the last quarter of 2017-18.

OYO launches its CSR programme ‘OYO Reach’ from Shimla
Hospitality firm OYO has launched its corporate social responsibility assistance programme 'OYO Reach' from Shimla, where majority of hotels under the company's brand have been equipped with rainwater harvesting systems. Through its CSR assistance programme, the company is aiming to provide necessary technical and financial assistance to its partners across the nation in a wide variety of projects and activities, OYO said in a statement. "As part of our CSR program, OYO Reach, we are happy to assist in the adoption of rainwater harvesting systems in OYOs in Shimla," OYO Hotels & Homes India & South Asia CEO Aditya Ghosh said.

BharatPe ropes in Salman Khan as brand ambassador
Merchant service and UPI payments app BharatPe has said it has roped in Bollywood actor Salman Khan as its brand ambassador. The company is on an aggressive growth spree and will be launching a brand advertising campaign with Khan shortly, it said in a release. The new brand campaign with Khan will be focused towards educating merchants and users about UPI payments along with driving adoption of BharatPe app for all their business needs, it added. The fintech startup will also partner with the actor for outdoor campaigns, radio, social media and in-app education initiatives, the statement said. "BharatPe is positioned as the business utility app for small and medium businesses. The brand's synergy with brand Salman Khan lies in the manner that we both are determined to serve Bharat, the real India," BharatPe co-founder and CEO Ashneer Grover said.

Concrete Show India open on May 16 in Mumbai
UBM India announced the 7th edition of the Concrete Show India (CSI), the only expo in the country exclusively dedicated to the Construction and Infrastructure sector. Covering key areas including roads and highways, housing, airports, ports, power, rail, dams & bridges, CSI 2019 will be held at the Bombay Convention & Exhibition Centre (BEC), Goregaon, Mumbai  from May 16th – 18th.  The three-day show will provide excellent opportunities to industry professionals who come from construction verticals. Speaking on the announcement of the 7th edition of Concrete Show India, Yogesh Mudras, Managing Director, UBM India said, “Infrastructure is the backbone of a country’s economy and investing in infrastructure is vital and it has a long-lasting effect on other sectors like banking and power. In recent times there has been a significant push from the government in the infrastructure and housing sector as seen in the interim Budget 2019.

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