Axis Bank, Vedanta, Tata Motors, Sun Pharma, SBI Life Insurance, Kotak Mahindra Bank, Alembic Pharma, and DLF, among other companies will be reporting their Q1 result today.
MUMBAI: Axis Bank, Vedanta, Tata Motors, Sun Pharma, SBI Life Insurance, Kotak Mahindra Bank, Alembic Pharma, and DLF, among other companies will be reporting their Q1 result today.
Adani Transmission: The company’s distribution arm, Adani Electricity Mumbai Ltd, has raised $300 million in sustainability-linked bonds (SLBs) as part of its $2 billion Global Medium-Term Notes programme (GMTN), the firm said on Friday.
Federal Bank: The lender reported a standalone net profit of ₹367.3 crore, down 8.3% from ₹400.7 crore in the corresponding quarter of the previous fiscal. The bank's net interest income (NII) rose 9.4% to ₹1,418 crore as against ₹1,296 crore year-on-year (YoY).
Indian Oil: The state-owned oil marketing company plans to build the country’s first green hydrogen plant at its Mathura refinery. This push for the new age emission free fuel comes at a time when India, the world’s third-largest oil importer, is recalibrating its energy sourcing playbook keeping its strategic and economic interests in mind.
IndusInd Bank: The lender plans to raise up to ₹30,000 crore through a mix of equity and debt to fund its business growth. The bank's board approved a proposal for raising funds through debt securities or equity instruments or convertible debt securities in any permitted mode such as Qualified Institutional Placement or American Depository Receipts or Global Depository Receipts, it said in a BSE filing.
ICICI Bank: The lenderreported a 78% increase year-on-year in standalone net profit to ₹4,616 crore for the quarter ended June 30, 2021 owing to higher net interest come and lower provisions. The net profit stood at ₹2,599 crore in the corresponding quarter last fiscal. According to Bloomberg analysts, net profit was estimated at ₹4,362 crore in the Apr-Jun quarter.
ITC: The cigarette-to-hotel conglomerate posted a 28.6% year-on-year (y-o-y) jump in standalone profit for the three months ended 30 June—coming below street expectations. A Bloomberg poll of 12 analysts had forecast a net profit of ₹3,253.9 crore, while 11 analysts estimated ITC to report standalone revenue of ₹11,572 crore.
Jindal Steel and Power: The domestic metals and mining company has revised the divestment plan of its subsidiary Jindal Power Ltd (JPL) and has offered a revision from Worldone, a promoter entity, after its initial offer in May drew flak from a section of investors who cited low valuation of the deal and related party nature of the transaction as contentious issues, the company said on Sunday.
JSW Steel: India’s most valuable steelmaker, reported a record profit of ₹5,900 crore for the fiscal first quarter amid a surge in the prices of the alloy. The company had reported a loss of ₹582 crore in the corresponding quarter of the previous year. The company’s board has approved a strategic investment of approximately ₹750 crore in JSW Paints Pvt. Ltd in 3-4 tranches between FY 2021-22 to FY 2024-25.
RIL: The company on Friday said its fiscal first-quarter profit fell 7.25% as the second wave of covid-19 impacted businesses. Profit fell to ₹12,273 crore for the quarter to June from ₹13,233 crore a year ago. Revenue from operations rose 58% to ₹1.44 trillion from ₹91,238 crore a year ago. A Bloomberg survey of analysts estimated a consolidated net profit of ₹13,022.90 crore on net sales of ₹1.47 trillion.
SBI Cards and Payment Services: The company has restructured credit card dues of ₹258 crore in the June quarter under the second leg of Reserve Bank of India’s (RBI's) debt recast scheme and has since seen a reduced inflow of requests, chief executive officer (CEO) Rama Mohan Rao Amara told analysts.
Telecom stocks: Pronouncing its judgment on Bharti Airtel and Vodafone Idea's pleas seeking direction for correction of errors in adjusted gross revenue (AGR) calculation on Friday, the Supreme Court (SC) dismissed the applications of the two telecom companies for the recomputation of AGR dues demanded by the Department of Telecommunication (DoT).
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