Tata Motors to invest Rs 28,900 crore in JLR, domestic business in FY22

Tata Motors has announced plans to invest Rs 28,900 crore mostly for its British arm Jaguar Land Rover (JLR) and domestic business in the current financial year (FY22). The company is also looking to raise capital separately for its electric vehicle (EV) business. It is aiming for 25% sales from the EV segment in the medium to long term. Tata Motors had earlier announced that it will be launching at least 10 EV models before 2025. The automaker will also launch an EV platform for the last-mile commercial vehicles segment. They are investing in the development of hydrogen fuel cell vehicles as well. 

Read more here.

NTPC Q1 Results: Net profit rises 18% YoY to Rs 3,411 crore 

NTPC Limited reported an 18% YoY increase in consolidated net profit to Rs 3,411.56 crore for the quarter ended June (Q1 FY22). Net profit has declined by 24.9% when compared to the previous quarter. Its revenue from operations rose 14% YoY to Rs 29,888.02 crore during the same period. The company’s gross power generation increased to 71.74 billion units (BU) in Q1 FY22, compared to 60.18 BU in Q1 FY21. NTPC’s board has approved a proposal to raise up to Rs 18,000 crore through the issuance of non-convertible debentures.

Read more here.

Torrent Power to acquire 50-MW solar power plant from Lightsource India

Torrent Power Ltd has signed a share purchase agreement with Lighsource India and Lightsource Energy (India) for the acquisition of 100% of the share capital and all securities of LREHL Renewables India SPV 1. The special purpose vehicle (SPV) operates a 50 megawatt (MW) solar power plant in Maharashtra. It has a long-term Power Purchase Agreement with Solar Energy Corporation of India (SECI) for full capacity for a period of 25 years. The estimated enterprise value for this acquisition is ~Rs 317 crore.

Read more here.

IDFC First Bank Q1 Results: Net loss at Rs 630 crore

IDFC First Bank reported a net loss of Rs 630 crore for the quarter ended June (Q1 FY22). It had posted a net profit of Rs 93.55 crore in Q1 FY21 and Rs 127.81 crore in Q4 FY21 (previous quarter). The bank’s net interest income (NII) rose 25% YoY to Rs 2,185 crore in Q1 FY22. The gross non-performing assets (GNPA) ratio stood at Rs 4.61% in Q1 FY22, compared to 4.15% in the previous quarter. IDFC First Bank had created additional Covid-19 provisions of Rs 350 crore in Q1, taking the total Covid-19 provision pool to Rs 725 crore. 

Read more here.

CDSL Q1 Results: Net profit rises 37% YoY to Rs 64 crore

Central Depository Services Ltd (CDSL) reported a 37% YoY increase in consolidated net profit to Rs 64 crore for the quarter ended June (Q1 FY22). Net profit has increased by 23% when compared to the previous quarter. Its total income rose 51% YoY to Rs 130 crore during the same period. CDSL maintains and services ~3.9 crore demat accounts of investors or beneficial owners across India.

PI Industries Q1 Results: Net profit rises 29% YoY to Rs 187 crore

PI Industries Ltd reported a 28.6% YoY increase in consolidated net profit to Rs 187.2 crore for the quarter ended June (Q1 FY22). Net profit has increased by 4.12% when compared to the previous quarter. Its total income rose 14.3% YoY to Rs 1,221.5 crore during the same period. PI Industries has entered into a business transfer agreement with Ind Swift Laboratories Ltd (ISLL) and certain promoters of ISLL for the acquisition of its API business division for Rs 1,530 crore.

Read more here.

Krsnaa Diagnostics to launch IPO on August 4: price band fixed at Rs 933-954 per share

Krsnaa Diagnostics Ltd will launch its initial public offering (IPO) on August 4. The company has fixed a price band of Rs 933-954 per share for its public issue. The IPO consists of a fresh issue of shares aggregating to Rs 400 crore and an offer for sale (OFS) of up to 85.3 lakh shares. The proceeds from the issue will be used for establishing diagnostics centers in Punjab, Haryana, Karnataka, and Maharashtra. A part of the proceeds will also be used to repay debt.

Meanwhile, Devyani International will also launch its IPO on August 4. It is the largest franchisee of KFC, Pizza Hut, and Costa Coffee in India. The company has fixed a price band of Rs 86-90 per share for its IPO.

Read more here.

Relaxo Footwear Q1 Results: Net profit rises 27.8% YoY to Rs 30.96 crore

Relaxo Footwears Ltd reported a 27.8% YoY increase in net profit to Rs 30.96 crore for the quarter ended June (Q1 FY22). Net profit has declined by 69.7% when compared to the previous quarter. Its revenue from operations rose 36.7% YoY to Rs 497.13 crore during the same period. The company’s expenses increased by 36.67% YoY to Rs 462.15 crore in Q1. Relaxo Footwears’ operations were severely disrupted during April and May due to localised lockdowns across geographies.

Read more here.

Rain Industries Q1 Results: Net profit jumps 786% YoY to Rs 235.29 crore

Rain Industries Ltd reported a 786.8% YoY jump in consolidated net profit to Rs 235.29 crore for the quarter ended June (Q1 FY22). Net profit has increased by 14.07% when compared to the previous quarter. Its total income rose 54.17% YoY (or 20.64% QoQ) to Rs 3,680.59 crore during the same period. Rain Industries is a leading manufacturer of calcined petroleum coke, coal tar pitch, and other high-quality basic and specialty chemicals. 

Britannia Q1 Results: Net profit declines 29% YoY to Rs 387 crore

Britannia Industries Ltd reported a 28.7% YoY decline in consolidated net profit to Rs 387 crore for the quarter ended June (Q1 FY22). Its revenue from operation declined by 0.5% YoY (increased by 8.7% QoQ) to Rs 3,403.5 crore during the same period. EBITDA declined by 22.8% YoY to Rs 553.8 crore in Q1.

Read more here.

Latest

Advertisement