Retail inflation rises marginally to 4.48% in October

India’s retail inflation, as measured by the Consumer Price Index (CPI), rose marginally to 4.48% in October from 4.35% in September. This is the fourth successive month that the CPI data has come below the Reserve Bank of India’s (RBI) upper margin of 6%. Food inflation has increased slightly to 0.85% in October from 0.68% in September.

Meanwhile, India’s factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a 3.1% year-on-year (YoY) growth in September. The mining sector saw a growth of 8.6% YoY to 95.1 in September, while the manufacturing sector saw a rise of 2.7% YoY to 129.9. 

Read more here.

ONGC Q2 Results: Net profit jumps 565% YoY to Rs 18,347 crore 

Oil and Natural Gas Corporation (ONGC) Ltd reported a 565% YoY jump in net profit to Rs 18,347 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 44% YoY to Rs 24,353.6 crore during the same period. The operating margin expanded to 48.17% in Q2 FY22 compared to 37.78% in Q2 FY21. ONGC’s board has declared an interim dividend of Rs 5.5 per share.

Read more here.

KEC International wins orders worth Rs 1,415 crore

KEC International Ltd has secured new orders worth Rs 1,415 crore in the Civil and Oil & Gas Pipeline businesses in India. The company has received an order from Chennai Metro Rail Limited (CMRL) for the construction of elevated viaduct along with 11 stations. It has received a civil infra works order from a defence entity. KEC International has also secured an order from Indian Oil Corp for the laying of oil and gas pipelines.

Vodafone Idea Q2 Results: Net loss narrows to Rs 7,132 crore

Vodafone Idea (Vi) reported a consolidated net loss of Rs 7,132.3 crore for the quarter ended September (Q2 FY22). It had posted a net loss of Rs 7,319 crore in the previous quarter. Its revenue from operations rose 3% QoQ to Rs 9,406.4 crore during the same period. Vi’s operating profit rose 4.2% QoQ to Rs 3,862.9 crore. The average revenue per user (ARPU) stood at Rs 109 in Q2, an increase of 4.8% QoQ.

Read more here.

Grasim Industries Q2 Results: Net profit jumps 180% YoY to Rs 979 crore

Grasim Industries Ltd reported a 180% YoY jump in net profit to Rs 979.1 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 67% YoY to Rs 4,933 crore during the same period. The company’s operating profit increased 87% YoY to Rs 1,504 crore. Grasim’s chemical business posted a 44.5% YoY growth in total sales to Rs 1,627 crore in Q2. 

Read more here.

Ramkrishna Forgings partners with ePropelled to manufacture eDTS motor technology

Ramkrishna Forgings has signed a Memorandum of Understanding with ePropelled (USA), a technology company that offers leading-edge electric propulsion systems. The two companies will develop eAxle products based on ePropelled’s patented Dynamic Torque Switching™ (eDTS) technology. The solution increases power efficiency by at least 15%, allowing manufacturers to reduce the size and cost of their battery packs.

Read more here.

Coal India Q2 Results: Net profit falls marginally to Rs 2,933 crore

Coal India Ltd reported a 0.6% YoY decline in consolidated net profit to Rs 2,933 crore for the quarter ended September (Q2 FY22). Net profit fell 7.5% compared to the previous quarter. Its revenue from operations rose 10% YoY to Rs 23,291 crore during the same period. The raw coal production improved to 125.83 million tonnes (MT) in Q2 FY22, compared to 114.98 MT in Q2 FY21.

Read more here.

Airtel Payments Bank to double business correspondent network to 1 million a year

According to a report from Economic Times, Airtel Payments Bank plans to double its countrywide business correspondents (BCs) network to 1 million in the next 12 months. It also aims to drive monetisation through a combination of transactions and interest-based income, besides boosting revenues from cash management services in the business-to-business (B2B) space. APB is looking to gain the necessary reach to cater to the remittances market and the Aadhar-enabled payment services business to serve millions of potential customers.

Read more here.

Hindalco Q2 Results: Net profit jumps 783% YoY to Rs 3,417 crore

Hindalco Industries Ltd reported a 783% YoY jump in consolidated net profit to Rs 3,417 crore for the quarter ended September (Q2 FY22). Net profit increased 23% compared to the previous quarter. Its revenue from operations rose 52.6% YoY to Rs 47,665 crore during the same period. EBITDA stood at Rs 8,048 crore in Q2, a growth of 56% YoY (or 19% QoQ). Hindalco said its Q2 performance was largely driven by a strategic product mix, higher volumes, and stability in operations.

Read more here.

SJVN signs pact with Solarworld to develop 75 MW solar power project in UP

SJVN Limited has signed an agreement with Noida-based Solarworld Energy Solutions to develop a 75 megawatt (MW) solar power project at Parasan Solar Park in Uttar Pradesh. The total cost of the project is Rs 313.59 crore. The project will generate 168.34 million units (MU) of energy annually with a capacity utilisation factor (CUF) of 25.06%.

Read more here.

Motherson Sumi Q2 Results: Net profit falls 36% YoY to Rs 217 crore

Motherson Sumi Systems Ltd (MSSL) reported a 35.8% YoY decline in net profit to Rs 216.96 crore for the quarter ended September (Q2 FY22). Its revenue from operations fell 5.9% YoY to Rs 14,076.39 crore during the same period. Total expenses fell by 3% YoY to Rs 14,001.29 crore in the second quarter.

Read more here.

Latest

Advertisement