RBI announces co-lending scheme for banks, NBFCs

The Reserve Bank of India has announced a Co-Lending Model (CLM) scheme for banks and non-banking finance companies (NBFCs). Under this scheme, banks can provide loans along with NBFCs to priority sector borrowers, through a prior agreement. A specified portion of loans will be provided to specific sectors such as agriculture and micro & small enterprises. RBI has stated that this scheme will provide more flexibility to the lending institutions.

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Saudi PIF to invest Rs 9,555 crore in Reliance Retail

The Public Investment Fund (PIF) of Saudi Arabia will invest Rs 9,555 crore for a 2.04% stake in Reliance Retail Ventures Ltd (RRVL). The investment values RRVL at a pre-money equity value of Rs 4.58 lakh crore. Earlier, PIF had also acquired a 2.32% stake in Jio Platforms.

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Aditya Birla Capital Q2 Results: 3% YoY rise in Net Profit

Aditya Birla Capital reported a 3.3% year-on-year (YoY) increase in consolidated net profit at Rs 264.34 crore, for the quarter ended September (Q2). The company’s revenue from operations increased by 16.1% YoY to Rs 4,589.12 crore, during the same period. The company is present in areas such as housing finance, asset management, and life insurance.

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Berger Paints Q2 Results: Net Profit up by 13.55% YoY to Rs 221 crore

Berger Paints India Ltd. reported a 13.55% year-on-year (YoY) increase in consolidated net profit to Rs 221.05 crore, for the quarter ended September (Q2). The company’s revenue from operations has increased by 9% YoY to Rs 1,742.55 crore, during the same period. The paint company has stated that its sales are back at pre-Covid levels.

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Tech Mahindra partners with Subex to provide solutions for telecom operators

Tech Mahindra has announced its partnership with Subex Ltd. to provide blockchain-based solutions for telecom operators globally. These solutions will be aimed at fraud detection and improving the operational efficiency of communication service providers. The strategic partnership will help to reduce overhead costs and improve business profitability for telecom operators. 

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Lupin Q2 Results: Net Profit stands at Rs 211 crore

Lupin Limited reported a consolidated net profit of Rs 211 crore, for the quarter ended September (Q2). The company had posted a net loss of 185.3 crore in Q2 of the previous financial year. Revenue of the Mumbai-based drug maker declined by 1.2% YoY to Rs 3,835 crore in Q2 FY21.

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Bajaj Electricals Q2 Results: Net Profit at Rs 53 crore

Bajaj Electricals Ltd. reported a consolidated net profit of Rs 53.11 crore, for the quarter ended September (Q2). The company had posted a net loss of Rs 32.54 crore in Q2 of the previous financial year. The revenue of the consumer electricals firm has increased by 11.1% YoY to Rs 1,217.71 crore in Q2 FY21.

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Apollo Tyres Q2 Results: Net profit jumps two-fold to Rs 200 crore

Apollo Tyres Ltd. reported a two-fold year-on-year (YoY) increase in consolidated net profit at Rs 200 crore, for the quarter ended September (Q2). The company’s net sales increased by 8% YoY to Rs 4,234 crore, during the same period. Apollo Tyres has stated that its sales volumes have gone up in both truck tyres and passenger car tyres.

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Godrej Consumer Q2 Results: Net profit jumps 11% YoY

Godrej Consumer Products Ltd. reported a 10.66% year-on-year (YoY) increase in consolidated net profit to Rs 458.02 crore, for the quarter ended September (Q2). The company’s revenue has increased by 10.83% YoY to Rs 2915.12 crore, during the same period. The FMCG firm has also stated plans to launch new products and improve its e-commerce platform.

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Inox Leisure Q2 Results: Net Loss at Rs 68 crore

Inox Leisure Ltd. reported a consolidated net loss of Rs 67.83 crore, for the quarter ended September (Q2). The multiplex chain had reported a net profit of Rs 35.13 crore in Q2 of the previous financial year. The company’s revenue from operations declined by 99.93% YoY to Rs 36 lakh in Q2 FY21. The share price of Inox Leisure saw a rise of 4.50% today, after cinema halls were allowed to open in Maharashtra.

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