Adani Ports Q2 Results: Net Profit rises 32% YoY to Rs 1,394 crore

Adani Ports & Special Economic Zone Ltd. reported a 31.57% year-on-year increase in consolidated net profit at Rs 1,393.69 crore, for the quarter ended September (Q2). The revenue from operations increased by 3% YoY to Rs 2,902.52 crore, during the same period. The company has stated that its market share in India’s overall cargo has increased to 24%, as compared to 21% in Q1 of the current financial year.

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Vedanta, Hindalco win in commercial coal mine auctions

Vedanta Ltd. and Hindalco Industries Ltd. are among the first private companies chosen to operate coal mines in India. The Government had allocated 38 coal mines in the country for auction to the private sector. Vedanta Ltd has placed the winning bid for the Radikapur West Coal Block in Odisha. Hindalco has won the right to operate the Chakla Coal Block in Jharkhand.

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PVR Q2 Results: Net Loss stands at Rs 184 crore

PVR Limited reported a consolidated net loss of Rs 184 crore, for the quarter ended September (Q2). The consolidated revenue of the multiplex operator was at Rs 40.4 crore, during the same period. PVR has stated that most of its theatres have reopened, under the Unlock 5.0 guidelines. They are optimistic for a gradual improvement in revenues over the next few months.

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Ajanta Pharma Q2 Results: Net Profit up by 45% YoY

Ajanta Pharma Limited reported a 45% year-on-year (YoY) increase in net profit at Rs 170 crore, for the quarter ended September (Q2). The company’s revenue has increased by 11% YoY to Rs 715 crore, during the same period. The Board of Directors of Ajanta Pharma has approved an interim dividend of Rs 9.50 per share. They have also announced a share buyback of 7.35 lakh equity shares, at a price of Rs 1,850 per share.

Sun Pharma Q2 Results: Net Profit jumps 70% YoY to Rs 1,813 crore

Sun Pharmaceutical Industries Ltd. reported a 70.4% year-on-year (YoY) increase in consolidated net profit to Rs 1,813 crore, for the quarter ended September. The drug firm’s consolidated revenue from operations has increased by 5.3% YoY to Rs 8,553 crore, during the same period. The share price of Sun Pharma saw a rise of 3.85%, and closed at Rs 487.45 on the NSE today.

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Muthoot Finance Q2 Results: Net profit rises 2.5% to Rs 931 crore

Muthoot Finance Ltd. reported a 2.5% year-on-year (YoY) increase in consolidated net profit at Rs 930.81 crore, for the quarter ended September (Q2). The company has posted a 17.4% YoY increase in total income to Rs 2,824.19 crore, during the same period. The non-banking financial company has also recorded its highest-ever quarter-on-quarter (QoQ) growth in its gold loan portfolio.

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TCS partners with B3i to launch solutions for insurance industry

Tata Consultancy Services (TCS) has partnered with B3i Services AG to design, develop, and launch ecosystem innovations for the insurance industry. The partnership will be aimed at providing solutions to improve the digital systems of insurers, brokers, and industry service providers. B3i is an industry-led blockchain initiative that is owned by 20 insurance companies around the world.

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Dabur Q2 Results: Net Profit rises 20% YoY to Rs 483 crore

Dabur India Ltd. reported a 20.6% year-on-year (YoY) increase in consolidated net profit to Rs 482.86 crore, for the quarter ended September (Q2). The company’s consolidated revenue has increased by 14% YoY to Rs 2,516.04 crore, during the same period. The e-commerce business of Dabur grew by 200% YoY in Q2.

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PNB to raise Rs 7,000 crore through QIP in December

Punjab National Bank (PNB), on Tuesday, said it is planning to raise Rs 7,000 crore through qualified institutional placement (QIP) of shares by December 2020. QIP is a method that allows listed companies to raise capital from domestic markets through the issue of equity shares or any other securities. This is part of PNB’s overall plan to raise capital worth Rs 14,000 crore during the current financial year.

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Godrej Properties Q2 Results: Net Profit declines 77% YoY to Rs 7 crore

Godrej Properties Ltd. reported a 77% year-on-year (YoY) decline in consolidated net profit at Rs 7 crore, for the quarter ended September (Q2). The real-estate company posted a 36% YoY decline in total income at Rs 238 crore, during the same period. The company has stated that construction activity has resumed across its sites, with a high increase in the workforce.

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Meghmani Finechem expands Caustic Soda Plant 

Meghmani Finechem is expanding production at its existing Caustic Soda Plant from 2.94 lakh tonnes per annum (TPA) to 4 lakh TPA. The company is also upgrading the Captive Power Plant capacity to 123 MW (megawatts) at its production site in Gujarat. The total cost of these projects is estimated at Rs 230 crore. Meghmani Finechem is a material subsidiary of Meghmani Organics Ltd.

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