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L&T Infotech (LTIL) reported yet another strong quarter with above-industry growth performance and an improving outlook for various end markets. The stock has recently run up and trades at a premium to peers, but the strong growth outlook and deal wins make it a good portfolio pick.LTIL’s March quarter revenues rose 21.6 percent year-on-year to $309 million. Compared to the December quarter, revenues were up 5.3 percent.LTIL’s EBITDA margin contracted quarter-on-quarter. But adjusting for one-time commercial settlement (Rs 61.7 crore), it actually rose by around 60 bps. For More Info about Stocks click here: Capitalheight.

The Enforcement Directorate has filed its first charge sheet in the over $2 billion PNB fraud case involving diamantine Nirav Modi and his associates, officials said on Thursday. According to them, the 12,000-page ED charge sheet, or the prosecution complaint, has been filed before a special court here under various sections of the Prevention of Money Laundering Act (PMLA). The criminal complaint has been filed against Nirav Modi, his associates and businesses and the entire gamut of issuance of fake Letters of Undertaking (LoUs) by Punjab National Bank (PNB) to his firms in alleged connivance of bank officials.

Airtel Payments Bank today said that it has appointed former ICICI BankNSE 1.93 % senior executive Anubrata Biswas as its Managing Director and CEO."We are delighted to have Anubrata on board. I am confident that his experience will add immense value to the bank's agenda of financial inclusion and digital leadership. I wish him the very best for his new assignment," Airtel Payments Bank, Chairman, Sunil Bharti Mittal said in a statement. Prior to joining Airtel Payments Bank, Biswas was the joint general manager and retail business head - South India, for ICICI Bank and was responsible for managing the retail banking business across over 550 branches of the bank. The appointment of Biswas comes five months after the exit of Shashi Arora, the first MD and CEO of Airtel Payments Bank. For 2 Days Free Trial click here : capitalheight.

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