Hindustan Unilever on Tuesday reported a 7.1% year-on-year jump in its June quarter net profit to ₹1,881 crore
Axis Bank reported a net profit of ₹1,112.17 crore in the June quarter of FY21, down 18.8% y-o-y, owing to higher provisions
NEW DELHI :
Here’s a list of stocks that may be in news on Wednesday:
HUL: India’s largest packaged consumer goods company, Hindustan Unilever, on Tuesday reported a 7.1% year-on-year jump in its June quarter net profit to ₹1,881 crore. The company’s revenues rose 4.4% during the period under review to ₹10,560 crore.
Axis Bank: Private sector lender Axis Bank on Tuesday reported a net profit of ₹1,112.17 crore in the June quarter of FY21, down 18.8% from the same period last year, owing to higher provisions. The bank total provisions and contingencies stood at ₹4,416.42 crore, up 15.7% on a year-on-year basis. However, provisions were down from ₹7,730 crore in the sequential quarter.
Bajaj Finserv: The company reported a 44% rise in consolidated net profit to ₹1,215 crore in the first quarter ended June of the current fiscal year, mainly on the back of good earnings from its insurance subsidiaries. Bajaj Finserv had posted a net profit of ₹845 crore during the corresponding June quarter of 2019-20.
Indiamart Intermesh: B2B e-commerce company Indiamart Intermesh on Tuesday posted an over two-fold jump in its consolidated profit at ₹76.4 crore in the first quarter ended June 30, 2020. The company had recorded ₹32.1 crore profit in the same period a year ago.
Cipla: The company's step-down wholly owned subsidiary, Cipla Pharma Lanka (CPL) has been amalgamated with its another step-down wholly owned subsidiary, Breathe Free Lanka (BFL), with effect from May 01, 2020. "Upon amalgamation into BFL, CPL stands dissolved without winding up," Cipla said in a regulatory filing.
CSB Bank: The bank’s total deposits grew 7.51% year-on-year to ₹16337.95 crore in the first quarter of FY21. Advances against gold and gold jewellery increased 28.32% to ₹3843.50 in the period under review, CSB Bank said in a quarterly update.
IHCL: Hospitality major Indian Hotels Company Ltd on Tuesday said it has inked pact to acquire the remaining 14.28% stake in ELEL Hotels and Investment from the Nanda family. The deal will make the company 100% leasehold owner of the Sea Rock hotel site in Mumbai by the end of December, 2021.
Yes Bank: The ₹15,000-crore equity capital raising by Yes Bank is credit positive for the lender as it strengthens the core capital and loss-absorbing buffers, besides reducing default risks for creditors, a report by global ratings agency Moody's said on Tuesday.
Godrej Agrovet: The company on Tuesday announced purchase of an additional 0.90% stake in its subsidiary, Godrej Maxximilk. With this, Godrej Agrovet's total shareholding in Godrej Maxximilk has increased from 74% to 74.90%.
Earnings: Alembic Pharmaceuticals, Larsen & Toubro, Jindal Steel & Power, and Bajaj Auto among other companies will announce their earning for the quarter ended 30 June today.