MindTree, Mishtann Foods, Sheetal Cool: MindTree, Mishtann Foods, Sheetal Cool Products, Swiss Military Consumer Goods, Star Housing Finance, DRC Systems India, SM Gold, SE Power and Earum Pharmaceuticals are the companies that will announce their March quarter results today.
HDFC Bank: The country’s largest private sector lender reported a 23 per cent jump in standalone net profit to Rs 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed.
Infosys: The IT services major posted a 12 per cent rise in March quarter net profit and said it is moving its business out of Russia, joining a growing roster of companies pulling out of the country following Moscow’s invasion of Ukraine.
Mahindra & Mahindra: The homegrown auto major said it has agreed to sell over 34.75 lakh shares, constituting 22.81 per cent of the paid-up capital, in Mahindra Sanyo Special Steel (MSSSPL), to Japan-based Sanyo Special Steel in a Rs 212 crore deal.
Cement: The country’s leading cement maker announced investing $101.10 million (Rs 839.52 crore) for a 29.39 per cent equity stake in the UAE-based RAK Cement Co for White Cement and Construction Materials PSC.
Tech Mahindra: The homegrown IT major announced a collaboration with Keysight Technologies to certify 5G vendors’ equipment at its O-RAN (open radio access network) lab in New Jersey, the US.
Coal India: The state run coal miner is set to launch its own e-auction platform, and the mining major has informed new and existing bidders to register on the portal, a top company official said. At present, the e-auction portal is managed by mjunction and state-owned MSTC.
Bharat Petroleum Corporation: The public sector oil marketing company said it will invest around Rs 200 crore this fiscal to set up 100 fast electric vehicles charging corridors having 2,000 stations along the busiest 100 national highways.
ICICI Prudential Life Insurance: The private life insurance player posted over two-fold jump in its net profit to Rs 185 crore for the January-March quarter on account of robust growth in new business. The company had posted a profit after tax of Rs 64 crore for January-March FY2021.
Lupin: The homegrown pharma major said it has received approval from the US health regulator to market its generic version of Desvenlafaxine extended-release tablets used for treating depression.
Tata Power: The Tata Groups power player said a consortium led by US-based BlackRock Real Assets will invest Rs 4,000 crore in its subsidiary, Tata Power Renewable Energy, for over 10 per cent equity stake.
Prestige Estates: The realty firm reported a 90 per cent increase in sales bookings to an all-time high of Rs 10,382.2 crore during the last financial year on better demand for its properties. Its sales booking stood at Rs 5,460.8 crore in the 2020-21 financial year.
Jubilant Ingrevia: The drug maker has received CDMO contract worth Rs 270 crore in specialty chemicals business from an ‘international customer’ for a period of three years. The company will supply two key GMP intermediates for one of the ‘patented drugs’ of the innovator pharmaceutical customer.
Bank of India: The public sector lender has moved to the National Company Law Tribunal seeking initiation of insolvency proceedings against
Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm.
Petronet LNG: The operator of the world’s largest liquefied natural gas (LNG) import terminal, may look at setting up a fourth facility in the country to meet the rising energy demand in Asia’s third-largest economy.
Blue Star: The air conditioning and commercial refrigeration major has set up a new manufacturing facility at Wada in Maharashtra at a cost of Rs 130 crore doubling the production capacity of deep freezers.
Alkem Laboratories: The pharma company’s Taloja unit has been cleared by the US health regulator as the unit has not received “Form 483” after inspection. The US FDA inspected the company’s bioequivalence centre at Taloja in Maharashtra during April 11-14.
Indiabulls Real Estate: The realty player has raised Rs 865 crore through issue of shares to institutional investors. The Mumbai-based firm had launched its QIP (Qualified Institutional Placement) issue on March 7 and closed it on April 12.
NHPC: The state-owned utility player signed a memorandum of understanding (MoU) with the district administration of Chamba, Himachal Pradesh for development of green hydrogen technologies to produce hydrogen.
Ashiana Housing: The housing projects player on Wednesday reported a 7 per cent increase in its sales bookings at Rs 573.25 crore during the last financial year. Sales bookings in the financial year 2020-21 stood at Rs 534.68 crore.
Mahindra Holidays & Resorts India: The leisure player said it will increase its holding in Rocksport Pvt Ltd, a firm engaged in soft adventure activities and learning programmes, to 23.42 per cent with the acquisition of a tad over 4.88 lakh equity shares for Rs 12 crore.
Oriental Hotels: The part of the Taj Group reported a consolidated net profit of Rs 1.38 crore in the fourth quarter ended March 31, 2022. The company had posted a consolidated net loss of Rs 4.66 crore in the same period a year ago.
Olectra Greentech: The part of industrial conglomerate MEIL, said it has begun trials of a 6×4 heavy-duty electric tipper as part of an expansion into the electric truck segment. The manufacturing will be scaled up in the state-of-the-art facility coming up on the outskirts of Hyderabad soon.
Vishal Fabrics: Ahmedabad-based manufacturer of denim is adding capacities and targeting to more than double its exports as part of its bid to cash in on the China-plus-one strategy that most global companies have adopted and become the third-largest player by FY25.
Windlas Biotech: The pharmaceutical player said it has concluded European Union good manufacturing practice inspection carried out by the National Institute of Pharmacy and Nutrition, Hungary, for its Plant-IV at Dehradun with zero critical observations.
Lagnam Spintex: The leading manufacturers of high-quality cotton yarns clocked a manifold jump in the net profit to Rs 28.8 crore in the FY22 as against Rs.4.47 crores during last year. The company reported a 70 per cent rise in the total revenue to Rs.348.95 crore in the financial year 2021-22.
Den Networks: The cable and broadcasting player reported a 43.43 per cent increase in its consolidated net profit to Rs 48.61 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 33.89 crore during the January-March quarter of last year.
Future Enterprises: The debt-ridden Future Group firm has defaulted on the payment of interest of Rs 1.22 crore due on non-convertible debentures, according to a regulatory filing. The due date for payment of Rs 1.22 crore interest was April 13, 2022.
Siti Networks: The mortgage lender HDFC has moved insolvency tribunal NCLT against the country’s leading multi-system operator
for an alleged default of Rs 296 crore.