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Magma Fincorp names Vijay Deshwal as new CEO

Magma Fincorp names Vijay Deshwal as new CEO
ANI |
Updated: Jun 01, 2021 14:41 IST
Mumbai (Maharashtra) [India], June 1 (ANI/PRNewswire): Magma Fincorp Ltd, the financial services arm of the Poonawalla Group, has announced that it appointed Vijay Deshwal as Group CEO.
Deshwal is currently a business head at ICICI Bank responsible for the fast-growing services business segment. He is also responsible for driving the liability strategy for the corporate ecosystem at the Bank. He will take charge at Magma Fincorp in the first week of July.
Poonawalla Group recently acquired controlling stake in Magma Fincorp by an equity infusion of Rs 3,456 crores through its holding company Rising Sun Holdings in May 2021. ....

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Indices bounce back; Nifty near 15,600

The benchmark indices bounced back in positive terrain in afternoon trade, tracking firm global cues. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 74.95 points or 0.14% at 52,012.39. The Nifty 50 index gained 13.35 points or 0.09% at 15,596.15.
Housing Development Finance Corporation (HDFC) (up 1.18%), Bajaj Finance (up 1.78%) and State Bank of India (SBI) (up 1.74%) boosted the indices.
The broader market traded lower. The S&P BSE Mid-Cap index lost 0.11%. The S&P BSE Small-Cap index fell 0.28%.
Sellers outnumbered buyers. On the BSE, 1,211 shares rose and 1,812 shares fell. A total of 133 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,412.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 179.78 crore in the Indian equity market on 31 May 2021, provisional data showed. ....

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Magma Fincorp Q4 net loss widens to Rs 648 cr; board appoints Adar Poonawalla as chairman

Read more about Magma Fincorp Q4 net loss widens to Rs 648 cr; board appoints Adar Poonawalla as chairman on Business Standard. On a consolidated basis, Magma Fincorp reported net loss of Rs 647.72 crore in Q4 FY21, higher than net loss of Rs 35.51 crore in Q4 FY20. ....

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Stocks to watch: ITC, Narayana Hrudayalaya, Magma Fincorp, auto stocks

Read more about Stocks to watch: ITC, Narayana Hrudayalaya, Magma Fincorp, auto stocks on Business Standard. State-owned Canara Bank on Monday said it has appointed S K Majumdar as its chief financial officer (CFO) with immediate effect ....

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Explained: Why Magma Fincorp share hit 5% upper circuit today

It has gained 921 per cent in the last 12 months and risen 256 per cent since the beginning of this year. ....

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