NDTV Profit Pulse On March 21—Top 8 Stories At 8 P.M. Under 8 Minutes

Among the top news of the day is telecom major Vodafone Idea seeking further support from the government, as it is finding it challenging to repay adjusted gross revenue and spectrum dues. Meanwhile, IndusInd Bank Ltd.’s board will be submitting new contenders for chief executive officer's post by October for Reserve Bank of India’s approval.

On the equity markets front, India's benchmark indices posted their fifth consecutive day of gains. However, the US stocks in early trade on weaker-than-estimated outlooks from bellwethers across industries.

Here’s a roundup of news that made headlines today:

A letter addressed to telecom secretary Neeraj Mittal was sent on March 11, where Vodafone Idea has requested government to convert more of its dues into equity. This comes at a time when the company faces the challenge to repay adjusted gross revenue or AGR and spectrum dues.

Will this move solve Vodafone Idea's problems?

IndusInd Bank Ltd.’s board will be submitting new contenders for CEO position by October for RBI's approval, according to people familiar with the matter.

Typically a bank's board must submit potential CEO names to the regulator at least six months before the incumbent's tenure ends. This ensures that there is enough time for the regulator to review names and appoint an appropriate successor.

Check what is happening with IndusInd Bank?

Larsen & Toubro Ltd. has announced the elevation of Subramanian Sarma from wholetime director and president - energy, to deputy managing director and president of the company, effective April 2. 

Know all about the new L&T Deputy MD and President.

The S&P 500 slid about 1%, while Nasdaq 100 slid 0.9% in the initial trading on Friday. The Dow Jones Industrial Average lost 1.1%.

Back home, India's benchmark equity indices had their best weekly run in years on Friday as investors shrugged off negative global sentiments to chase attractive stocks hammered by a recent correction.

The NSE Nifty 50 closed 159.75 points or 0.69% higher at 23,350.40, while the BSE Sensex ended 557.45 points or 0.73% up at 76,905.51.

The Central Bureau of Investigation has arrested two officials from Power Grid Corp. and KEC International Ltd. for corruption. CBI sources told NDTV that Power Grid's General Manager Uday Kumar, posted in Ajmer, was caught taking a bribe of Rs 2.5 lakh.

Additionally, Suman Singh, deputy general manager of KEC International, was also caught and arrested for allegedly favouring certain contractors, according to people in the know.

Check full details here.

India's foreign exchange reserves grew marginally to $654.27 billion in the week ended March 14, according to the data shared by Bloomberg on Friday. The forex reserves kitty rose $0.27 billion from the preceding week ended March 7 when it stood at $654 billion.

Check here to know all about this week's Forex reserve.

Mahindra & Mahindra announced a price increase of up to 3% for its SUV and commercial vehicle range, effective April 2025. The automaker cited rising input costs and higher commodity prices as key reasons for the hike. The extent of the increase will vary across different models and variants.

With back-to-back price hikes, will car buyers see any relief soon?

The Maharashtra government has directed an inspection of all Ola Electric Mobility Ltd.'s stores by next Friday in another setback to the electric vehicle maker.

All regional transport offices in Maharashtra have to carry out a "special inspection mission" between March 20 and March 27 to check all Ola Electric stores in the state for trade certificates, according to a letter from the Office of the Transport Commissioner on Thursday.

Read full story here.

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