Bharti Airtel, Federal Bank:
, Gland Pharma ,, Federal Bank, Wabco India, Subex ,,, Orient Cements, 3I Infotech ,, Rane Brake Lining, Butterfly Gandhimathi Appliances are companies announcing their financial results for the March quarter today.
Larsen & Tubro: Engineering and construction majors reported a 11.3 percent increase in consolidated net profit for the March 2020-21 quarter at R3,820.16, backed by higher operating revenues. The company posted a net profit of Rs 3,430.10 in the same period last year.
Indian: According to the sale notice, the largest state-owned lender will sell three bad accounts to an asset restructuring company or other financial institution next month and collect more than Rs 23.5 billion in membership fees.
Cipla: Drug Major recorded a consolidated net profit of Rs 412, up 73% in the fourth quarter ending March 31, 2021, against the backdrop of strong sales across the market. The Mumbai-based company reported a net profit of Rs 23.8 billion from January to March 2019.
Macrotech Developer: A recently listed real estate company reported a 31% increase in consolidated net profit for the fourth quarter of last fiscal year at Rs 312.19, despite lower revenues. Its net profit was Rs 238.44 in the same period last year.
Gran Wools India: According to a person familiar with the major company, the pharmaceutical company plans to make a capital investment of about 100 billion rupees, which it aims to invest in business expansion over the next three fiscal years. Based in Hyderabad, the company plans to invest in expanding the capacity of its new manufacturing facilities and existing factories.
Yes Bank: Private lenders have called for a bid to sell the property of the borrower, E Commerce Magnum Solution Ltd, in order to recover more than Rs. 34.5 billion in membership fees.
Mind Space REIT: The recently listed REIT has declared a distribution of Rs 285.2 to unitholders for the quarter ending March. Throughout the 2020-21 fiscal year, the company distributed Rs 568.7 to unitholders.
HIL: The CK Birla Group’s building materials and solutions companies reported a non-consolidated net profit of Rs 40.55 in the fourth quarter ended March 31, 2021. The company posted a net profit of Rs 8.07 in the January-March quarter of the previous fiscal year.
Mangaroa Chemicals and Fertilizers: The small fertilizer company reported that its net profit for the quarter ended in March was down 38% at Rs 15.11. Its net profit was Rs 24.45 in the same period last year.
Punjab National Bank: State-owned lenders said they raised 1,800 chlores by selling 53 chlores of shares on a private placement basis to investors such as LIC and Societe Generale. The PNB said in a regulatory filing that Qualified Institutional Investors (QIB) were awarded a total of Rs 1,799.99 in shares at an issue price of Rs 33.75 per unit.
Quick Heel Technology: According to security software providers, consolidated net income for the quarter of March 2021 ranged from Rs 39.7. The company posted a net profit of 790 million rupees in the same period of the previous year.
escort: Tractor sales will be impacted in the short term when the second wave of the COVID-19 pandemic hits rural areas, but could bring mid-single-digit growth to the industry later in the fiscal year. A senior official of escort, a major farm equipment company.
Bataind: A major shoe major said it has appointed Gunjanshah, a former chief commercial officer of Britannia Industries, as the new chief executive officer.
SKF India: Industrial products companies reported a 39.1 percent increase in after-tax profit at Rs 104.83 in the March quarter of 2020-21. Swedish auto parts manufacturers announced a PAT of Rs 75.34 in the fourth quarter of 2019-20.
Aditya Bill La Capital: Birla Group companies reported a record high quarterly net profit of Rs. 37.5 billion for the fourth quarter, which ended in March 2021. It posted a net profit of Rs 14.4 billion in the same period last year.
Kesoram Industries: The BK Birla Group company posted a consolidated net profit of Rs 96.41 in the fourth quarter of fiscal 2020-21, but lost Rs 82.17 in the year-ago quarter.
Jindal Stainless: Metal producers reported a consolidated net profit of Rs 292.61 for the fourth quarter, which ended in March 2021. The company recorded a net loss of 66.20 rupees in the same period last year.
Wellspan India: Textile companies reported that in the fourth quarter, which ended in March 2021, consolidated net profit increased by 48.3 percent to reach Rupee 134.34, supported by higher revenues. The company posted a net profit of Rs 90.59 in the same period last year.
Geojit Financial Services: Leading brokerage firms nearly doubled their quarterly net profit to Rs 3.68 billion, up 95% from Rs 1.88 billion a year ago when the market was devastated by last year’s pandemic.
Hero MotoCorp: According to company executives, one of the country’s leading motorcycle manufacturers is aiming to launch an electric model next year, marking its entry into the segment. Bullish in the electric vehicle (EV) space, the company leverages its R & D structure based in Jaipur (Rajasthan) and Stephanskillchen (Germany) to develop its own products.
Hester Bioscience: The pharmaceutical company said it is seeking to produce the COVID-19 vaccine through a technology transfer from Barrat Biotech in partnership with the Gujarat government. The Ahmedabad-based company said it has already begun discussions with Bharat Biotech in this regard.
Choramandaram Financial Holdings: The Murgappa Group companies reported a non-consolidated profit of Rs 31.97 in the quarter ending March 31, 2021. The Chennai-based company recorded a non-consolidated profit of Rs 25.36 in the last corresponding quarter.
Zensar Technologies: IT companies have announced that they will acquire a US-based M3bi in a US $ 30.6 million transaction. This helps Indian IT companies step up their commitment to data engineering, analytics, artificial intelligence / machine learning, and advanced engineering services.
Tata Steel BSL: The Tata Group company said the board has reappointed Rajiv Shinhal to the company’s managing director (MD) for a one-year term. In a BSE filing, the company also announced that Sanjib Nanda has been reappointed as Chief Financial Officer (CFO).
CG power: The heavy electrical equipment business unit said at the extraordinary shareholders’ meeting on June 7 that it would seek the approval of shareholders to preferentially allocate shares of Rs. 1.38 of Rs. 103.20 to Standard Chartered Bank in order to resolve its responsibilities.
Hotel inventory: The Indian Hotel and Restaurant Association (FHRAI) said on Sunday that the impact of the COVID-19 outbreak hit the Indian hotel industry by more than Rs 1.30 in revenue for the 2020-21 fiscal year.
Root mobile: Route Mobile (UK), a wholly owned subsidiary of Internet software service providers, has appointed John Owen as CEO of its European and American operations. He is based in his London office.
Bharti Airtel Stocks: News Stocks: L & T, Airtel, Federal Bank, SBI, YES Bank, Cipla
https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-the-news-lt-airtel-federal-bank-sbi-yes-bank-and-cipla/articleshow/82697722.cms Bharti Airtel Stocks: News Stocks: L & T, Airtel, Federal Bank, SBI, YES Bank, Cipla