RIL, country's largest listed company by market capitalisation, reported consolidated net profit of ₹13,248 crore during April-June quarter
Mortgage lender HDFC Ltd on Thursday said the company's shareholders have approved raising up to ₹1.25 lakh crore
NEW DELHI :
Here’s a list of stocks that may be in news on Friday:
RIL: Reliance Industries Ltd (RIL), country's largest listed company by market capitalisation, reported consolidated net profit of ₹13,248 crore during April-June quarter, aided by exceptional income of ₹4,966 crore. The oil-to-telecom conglomerate witnessed 31% jump in its net profit when compared to ₹10,141 crore it reported in June 2019.
Bharti Airtel: The telecom operator’s chief executive officer Gopal Vittal hinted at another tariff hike, stressing that the telecom company’s average revenue per user (Arpu) needs to move to ₹200, and eventually to ₹300 per month, for a sustainable business model. Vittal, however, did not specify the timeline for hike in calls and data tariffs. He was speaking at an analysts’ call a day after the telco reported a loss of ₹15,933 crore for the June quarter.
HDFC: Mortgage lender HDFC Ltd on Thursday said the company's shareholders have approved raising up to ₹1.25 lakh crore by issuing bonds or other hybrid instruments on a private placement basis. The approval was received at the company's annual general meeting (AGM) held through audio visual medium.
Tata Power: The company has received shareholders' approval to raise ₹2,600 crore via issuance of preferential shares to its promoter Tata Sons. The resolution was approved at the company's annual general meeting with requisite majority.
Lakshmi Vilas Bank: The lender reported narrowing of its net loss to ₹112.28 crore for the first quarter of the current fiscal, even as there was a substantial spike in bad loans. Lakshmi Vilas Bank had posted a net loss of ₹237.25 crore in the same period of the previous financial year.
Shriram Transport: Commercial vehicles financier Shriram Transport Finance Co Ltd (STFC) closed its rights issue with a subscription of 1.61 times on the final day of the offering. The ₹1500-crore Rights Issue received cumulative bids for 4,22 crore shares against the total issue size of 2.61 crore shares. STFC had set a price of ₹570 per share for the rights offering.
AU Small Finance Bank: Private equity investor Warburg Pincus on Thursday sold 2.26% stake in AU Small Finance Bank for ₹516.74 crore, through open market transactions. The block deal data available with the BSE showed that Redwood Investment Ltd, an entity owned by Warburg Pincus, disposed 6.92 million shares, or 2.26% stake in the bank. The shares were sold at an average price of ₹746.40, valuing the transactions at ₹517 crore.
Adani Power: The Competition Commission has approved Adani Power's proposed purchase of 49% stake in Odisha Power Generation Corporation Ltd (OPGC). In June, Adani Power announced acquiring US-based The AES Corporation's 49% stake in OPGC for USD 135 million (around ₹1,019 crore).
Torrent Pharma: The company reported a 48.61% rise in its consolidated net profit to ₹321 crore for the quarter ended June 30, 2020, mainly on account of robust sales in the Indian market. Torrent Pharma had posted a net profit of ₹216 crore for the corresponding period of the previous fiscal.
Tata Communications: The company posted over threefold jump in its consolidated profit after tax to ₹258 crore in the first quarter ended June 30, on the back of jump in data business. The company had registered a profit of ₹77 crore in the corresponding period of the previous year.
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