State-run lender Central Bank of India and Bajaj Finance Ltd said it signed an alliance to co-finance retail and small and medium enterprises (SME) loans. Bajaj Finserv has estimated the co-financing could go up to Rs1,000 crore over the next 18 months.
As per the tie-up, the assets would be partially assigned to Central Bank of India on a periodic basis and the administration and servicing of these loans would be managed by Bajaj Finance.
On Friday, Central Bank shares gained 1.8% to Rs228 while Bajaj Finance shares ended flat at Rs770 on the Bombay Stock Exchange. The benchmark Sensex declined 0.5% to 20,165 points.
IT training services provider NIIT Ltd reported about 9% growth in its consolidated net profit at Rs28.5 crore for the quarter ended 30 September.
The company had registered a net profit of Rs26.2 crore during the same quarter in the previous fiscal.
However, its revenue dipped by 4% to Rs345.8 crore in the July-September quarter as against Rs359.8 crore in the same period last year.
On Friday, NIIT shares ended 1.9% up at Rs68 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.5% to 20,165 points.
South Indian Bank Ltd said it has recorded net profit of Rs77 crore in the second quarter ended September 2010, as against Rs72.6 crore in the year-ago period.
During the second quarter to end-September, the lender's total revenues increased to Rs624.4 crore from Rs534.4 crore last year.
On Friday, South Indian Bank shares gained 0.4% to Rs27 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.5% to 20,165 points.