ZEEL secures global rights to air UAE T20 League

UAE’s T20 League has signed a long-term global media rights contract with Zee Entertainment Enterprises Ltd (ZEEL) to air the tournament exclusively on ZEEL’s channels and OTT platform (ZEE5) across the world.  The league comprises six teams competing in a 34-match competition. The matches will air across ZEEL’s 10 linear channels in the HSM (Hindi Speaking Markets), South & East regions in English, Hindi, and Tamil languages. 

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Grasim Industries Q4 Results: Net profit jumps 122% YoY to Rs 1,068 crore

Grasim Industries Ltd reported a 122.4% YoY jump in net profit to Rs 1,068.03 crore for the quarter ended March (Q4 FY22). Its revenue from operations rose 45.1% YoY to Rs 6,376.39 crore during the same period. The company’s board has declared a dividend of Rs 5 per share and a special dividend of Rs 5 per share.

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ABFRL to raise Rs 2,195 crore via preferential issue

Aditya Birla Fashion & Retail Ltd’s (ABFRL) board has approved a proposal to raise up to Rs 2,195 crore via preferential issue of shares and warrants to an affiliate of GIC, Singapore’s sovereign wealth fund. After completing this transaction, GIC will own a ~7.5% equity stake in ABFRL. ABFRL plans to use the proceeds from the issue to accelerate its growth engine built around the strength of its current business.

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BLS International signs contract to process German visas in North America & Mexico

BLS International Ltd has signed a 7-year contract to process short-term and long-term visas for Germany in North America and Mexico. The company will start operations with two centres in Mexico and eight centres in North America. It will provide visa outsourcing services and several value-added services like photocopy, translation, courier, and insurance for the convenience of applicants.

Bank of India Q4 Results: Net profit jumps 142% YoY to Rs 606 crore

Bank of India reported a 142% YoY jump in consolidated net profit to Rs 606 crore for the quarter ended March (Q4 FY22). Its net interest income (NII) rose 36% YoY to Rs 3,986 crore during the same period. The gross non-performing assets (GNPA) ratio improved to Rs 9.98% in Q4 FY22, compared to 13.77% in Q4 FY21. The bank’s board has approved a dividend of Rs 2 per share.

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Alembic Pharma gets USFDA approval for Pirfenidone tablets

Alembic Pharmaceuticals Ltd has received final approval from the US Food & Drug Administration (USFDA) for Pirfenidone tablets. The drug is used to treat idiopathic pulmonary fibrosis (a lung disease). According to IQVIA data, Pirfenidone tablets had an estimated market size of $548 million (~Rs 4,250 crore) for the 12 months ended December 2021. 

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NBCC secures contract worth Rs 313 crore from PSCDL

NBCC (India) Ltd has received a work order worth Rs 313.80 crore from Puducherry Smart City Development Ltd (PSCDL). The project consists of planning, designing, and executing various infrastructure development works in Puducherry. NBCC (India) is a Government of India (GoI) Navratna Enterprise. 

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IRCTC takes down insurers’ services for data privacy issues

Indian Railway Catering & Tourism Corporation (IRCTC) has temporarily taken down the services of Bajaj Allianz and Liberty General Insurance from its platform after noticing a vulnerability on the insurers’ websites that put the personal data of passengers at risk. IRCTC has a monopoly over train ticket booking in India. The insurance companies provide travel insurance to passengers that book their train and flight tickets through IRCTC.

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Ipca Labs Q4 Results: Net profit falls 19% YoY to Rs 130 crore

Ipca Laboratories Ltd reported a 19% YoY decline in consolidated net profit to Rs 130.23 crore for the quarter ended March (Q4 FY22). Its total income rose 15% YoY to Rs 1,303.64 crore during the same period. The Active Pharmaceutical Ingredients (APIs) business registered total revenue of Rs 257.84 crore, down 1% YoY.

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