L&T wins contract worth Rs 25,000 crore for bullet train project

Larsen & Toubro (L&T) has secured its single biggest order of Rs 25,000 crore from the National High-Speed Rail Corporation. The company will build a portion of the 508 km corridor for the Mumbai-Ahmedabad bullet train project. The High-Speed Rail project is set to be completed by 2024, and will be operating at a speed of 320 km/h.

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Vodafone Idea Q2 Results: Net Loss reduces to Rs 7,218 crore

Vodafone Idea Ltd. has reported a consolidated net loss of Rs 7,218 crore, for the quarter ended September (Q2). The telecom company had posted a consolidated net loss of Rs 50,921 crore in Q2 of the previous financial year. The revenue from operations declined by 0.49% YoY to Rs 10,791.20 crore in Q2 FY21.

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Maruti Suzuki Q2 Results: Net Profit rises 1% YoY to Rs 1,371 crore

Maruti Suzuki India Ltd. reported a 1% year-on-year (YoY) increase in net profit to Rs 1,371 crore, for the quarter ended September (Q2). The company’s revenue has increased by 10.40% YoY to Rs 18,744 crore. The carmaker has stated that Q2 performance has improved due to better demand recovery, and gradual improvement in supply conditions.

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Tech Mahindra signs Rs 400 crore contract with HAL for ‘Project Parivartan’

Tech Mahindra, on Thursday, said that it has entered into a Rs 400 crore contract with Hindustan Aeronautics Limited (HAL). The IT company will implement Enterprise Resource Planning (ERP) to support HAL’s ‘Project Parivartan’. Tech Mahindra will help to improve and standardize HAL’s business processes.

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Havells Q2 Results: Net Profit rises 82% to Rs 326 crore

Havells India Ltd. reported an 81.97% year-on-year (YoY) increase in consolidated net profit at Rs 326.36 crore, for the quarter ended September (Q2). The revenue from operations increased by 10.16% YoY to Rs 2,459.49 crore, during the same period. The company has stated that its initiatives in rural and online engagements have provided good results.

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Dr. Reddy’s partners with Department of Biotechnology for Sputnik-V clinical trials in India

Dr. Reddy’s Laboratories has announced its partnership with the Biotechnology Industry Research Assistance Council (BIRAC), of the Department of Biotechnology. The partnership has been aimed at providing advisory support on clinical trials of the Sputnik-V vaccine in India. Dr. Reddy’s will use some of BIRAC’s clinical trial centers for the vaccine.

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IndiGo Q2 Results: Net Loss increases to Rs 1,195 core

InterGlobe Aviation Ltd. (IndiGo) reported that its net loss has increased to Rs 1,194.8 crore, for the quarter ended September (Q2). The airline company had posted a net loss of Rs 1,062 crore in Q2 of the previous financial year. IndiGo’s total revenue has declined by 65% year-on-year (YoY) to Rs 3,029 crore in Q2 FY21.

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Bank of Baroda Q2 Results: Net Profit stands at Rs 1,679 crore

Bank of Baroda reported a net profit of Rs 1,679 crore, for the quarter ended September (Q2). The bank’s net interest income (NII) during the quarter has increased by 6.8% to Rs 7,507.5 crore. NII is the difference between the interest earned by a bank on its loans, and the interest it pays to depositors.

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Laurus Labs Q2 Results: Net Profit jumps 326% YoY to Rs 242 crore

Laurus Laboratories Ltd. reported a 326% YoY increase in net profit to Rs 242.47 crore, for the quarter ended September (Q2). The company’s revenue saw a rise of 59% YoY to Rs 1,138.84 crore, during the same period. Laurus Labs has been focusing on major acquisitions to expand its portfolio.

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Pidilite Industries to acquire Huntsman unit for Rs 2,100 crore

Pidilite Industries Ltd., which is the owner of Fevicol, has signed an agreement with US-based Huntsman Group for acquiring a 100% stake in one of its Indian subsidiaries. The company will acquire Huntsman Advanced Materials Solutions Pvt. for Rs 2,100 crore, as per a regulatory filing. The share price of the company saw a rise of 5.03%, and closed at Rs 1,595 on the NSE today.

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IDBI plans to raise Rs 6,000 crore via issue of equity shares

IDBI Bank, on Thursday, said that it has received shareholders’ approval to raise Rs 6,000 crore by issuing equity shares to institutional investors. It would be the first time in many years that IDBI Bank will be raising funds from investors via a share sale. The bank is planning to raise a total of Rs 11,000 crore through various modes, to strengthen its capital requirements.

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