Nestle India | The company is testing a zero-sugar variant for infant food in the country. Sharing this during an exclusive interaction with CNBC-TV18, chairman and MD Suresh Narayanan emphasised the company is compliant with the law of the land and has provided samples to the Food Safety and Standards Authority of India (FSSAI).Tata Chemicals | The company reported a consolidated net loss of ₹850 crore in the quarter ended March 31, compared to a profit of ₹709 crore. The loss is its first quarterly loss in nine years owing to a one-time write-down incurred in its UK operations along with lower prices and demand for soda ash.Spandana Sphoorty | Microfinance lender reported a 5.2% year-on-year (YoY) increase in net profit at ₹122.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Spandana Sphoorty Financial posted a net profit of ₹116.2 crore.Poonawalla Fincorp | Non-bank lender reported an 83.6% year-on-year jump in net profit at ₹331.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Poonawalla Fincorp posted a net profit of ₹180.7 crore, the company said in a regulatory filing.Jana Small Finance Bank | Bengaluru-based lender reported a 297.5% year-on-year rise in net profit at ₹321.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Jana Small Finance Bank posted a net profit of ₹81 crore, the lender said in a regulatory filing.KEC International | Engineering firm said it has secured new orders totalling ₹1,036 crore across its diverse business verticals. The Transmission & Distribution (T&D) segment secured orders for T&D projects in the Middle East and Americas regions.RVNL | The company said it has received a letter of acceptance from Southern Railway for the Redevelopment of Thiruvananthapuram Central Railway Station on EPC mode. The project cost is ₹439.95 crore. RVNL has a 49% share in the JV, while partner Kerala Rail Development Corporation will have a 51% share.Gillette | Shaving products maker reported a 3.5% year-on-year dip in net profit at ₹99.1 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Gillette posted a net profit of ₹102.7 crore, the company said in a regulatory filing.Shoppers Stop | Retail chain reported a 62.3% year-on-year jump in net profit at ₹23.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Shoppers Stop posted a net profit of ₹14.3 crore, the company said in a regulatory filing.
Bajaj Finance | The non-banking finance company reported a 21% rise in consolidated net profit to ₹3,825 crore for the March quarter. It had registered a net profit of ₹3,158 crore in the same period a year ago. Total income on a consolidated basis during the January-March period of 2023-24 rose to ₹14,932 crore.IndusInd Bank | Private sector lender on Thursday reported a 15% growth in consolidated net profit to ₹2,349.15 crore in the March quarter, driven by core income growth. The bank’s net profit for the entire FY24 increased 21% to ₹8,977 crore from ₹7,443 crore.Tech Mahindra | IT services company reported a 41% fall in its consolidated net profit for the March quarter to ₹661 crore. Tech Mahindra’s consolidated net profit plunged almost 41% to ₹661 crore for the quarter ended March 2024. For Q4 FY24, the revenue dropped by 6.2% year-on-year to Rs 12,871 crore.L&T Technology Services | The company reported a marginal 0.2% growth in net profit for the March quarter at ₹340 crore. The engineering services company’s net profit for FY24 grew 7.6% to ₹1,303.7 crore. In the reporting quarter, its revenue grew 7% to ₹2,537.5 crore, while it was about 5% higher when compared to the quarter-ago period.IndiGo | India’s leading airline has ventured into the wide-body aircraft space with its first order of 30 Airbus A350-900 aircraft. These state-of-the-art A350s will be powered by Rolls Royce’s Trent XWB engines, known for their efficiency and reliability.Tata Steel | Tata Steel UK on Thursday confirmed its decision to proceed with the closure of two old blast furnaces as part of a GBP 1.25-billion investment to transition to a state-of-the-art Electric Arc Furnace at its Port Talbot steelworks in south Wales.Schaeffler | Industrial and automotive parts maker reported a 25.3% year-on-year fall in net profit at ₹219.7 crore for the first quarter. In the corresponding quarter, Schaeffler posted a net profit of ₹294.1 crore. The company’s revenue increased 10.6% to ₹1,873.1 crore against ₹1,693.6 crore in the corresponding period of the preceding fiscal.
Cyient | IT solutions provider reported a 28.5% quarter-on-quarter increase in net profit at ₹196.9 crore for the fourth quarter that ended March 31, 2024. In the December quarter, Cyient posted a net profit of ₹153.2 crore, the company said in a regulatory filing.Tata Motors | The vote on the merger proposal of Tata Motors and Tata Motors DVR will be held on Friday, April 26, as announced by the board of directors in July 2023. The company said that it will issue seven (Ordinary) shares of Tata Motors per 10 Tata Motors DVR (A Ordinary) shares, which will stand cancelled.
Kotak Mahindra Bank | The RBI on Wednesday barred private lender from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found “serious deficiencies” in the lender’s IT risk management.Axis Bank | Private lender on Wednesday reported a consolidated net profit of ₹7,599 crore during the March 2024 quarter. Sequentially, the bank’s net profit grew 17% as compared to ₹6,071 crore earnings recorded in the preceding quarter of FY24.Hindustan Unilever | FMCG major on Wednesday reported a 1.53% decline in consolidated net profit to ₹2,561 crore for the fourth quarter ended March 31, 2024. The company had posted a net profit of ₹2,601 crore in the year-ago period.LTIMindtree | Indian IT services company on Wednesday reported a 1.2% decline year-on-year in consolidated net profit for the March quarter to ₹1,100.7 crore. The profit (attributable to shareholders of the company) came in at ₹1099.9 crore for the March quarter, a year-on-year dip of 1.2%.Macrotech Developers | Realty firm on Wednesday reported an 11% decline in consolidated net profit to ₹665.5 crore in the March quarter. However, for the full fiscal year, the company registered a three-fold jump in profit to ₹1,549.1 crore.IHCL | Tata Group hospitality firm reported a 29.4% year-on-year increase in net profit at ₹438.3 crore for the fourth quarter that ended March 31, 2024. The company’s revenue increased 17.2% to ₹1,905.3 crore against ₹1,625.4 crore in the corresponding period of the preceding fiscal.Dalmia Bharat | The cement maker reported a net profit of ₹315 crore. In the previous quarter, net profit came at ₹266 crore. The company’s revenue rose 10% YoY to ₹4,307 crore against ₹3,912 crore in the corresponding period of the preceding fiscal.Syngene International | Contract research and manufacturing services firm reported a 5.5% year-on-year (YoY) increase in net profit at ₹188.6 crore for the fourth quarter that ended March 31, 2024. The company’s revenue dipped 7.8% to ₹916.9 crore against ₹994.4 crore in the corresponding period of the preceding fiscal.Motilal Oswal AMC | The company on Wednesday said it has appointed Prateek Agrawal as managing director (MD) and chief executive officer (CEO) of the company, effective from April 26, 2024. Akhil Chaturvedi, currently Chief Business Officer of MOAMC, has been elevated to the position of executive director.
Tata Consumer Products | The company reported a 22.5% year-on-year dip in net profit at ₹267.7 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹345.6 crore. The company’s revenue increased 8.5% to ₹3,926.9 crore as against ₹3,618.7 crore in the corresponding period of the preceding fiscal.ICICI Prudential | The company reported a 26% drop in net profit to ₹174 crore for the quarter ended March 31 on higher expenses. The insurer had a profit of ₹235 crore in the fourth quarter of 2022-23. The insurer’s net premium income rose 17% to ₹14,788 crore in the March quarter compared to ₹12,629 crore in the year-ago period.Tata Elxsi | The Tata Group firm’s net profit dropped 4.6% to ₹196.9 crore on a sequential basis. Tata Elxsi reported a net profit of ₹206.4 crore in the preceding October-December quarter. Tata Elxsi revenue also dropped by a percent on a quarter-on-quarter (QoQ) basis to ₹905.9 crore.Gokaldas Exports | Readymade garment manufacturer and exporter said it has approved a qualified institutional placement (QIP) offering with an issue price of ₹775 per equity share. The QIP, which opened on April 18, garnered significant interest from eligible qualified institutional buyers.IIFL Finance | Non-banking financial company on Tuesday announced the commencement of a special audit as directed by the Reserve Bank of India (RBI). This development follows the RBI’s imposition of an embargo on March 4, 2024, suspending the disbursement of new gold loans by IIFL until the satisfactory completion of the audit.Cyient DLM | Electronic manufacturing services firm reported an 80.2% year-on-year surge in net profit at ₹22.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Cyient DLM posted a net profit of ₹12.6 crore.Nelco | Tata Group satellite services firm reported a 7% year-on-year increase in net profit at ₹6.1 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Nelco posted a net profit of ₹5.7 crore, the company said in a regulatory filing.Rama Steel Tubes | Steel pipes maker said it has decided to raise funds amounting to ₹500 crore through a “further” public offer, following the approval of its board of directors in a meeting held on April 22, 2024. The proposed fundraising, subject to the approval of shareholders and other necessary regulatory clearances.
Reliance Industries | The oil-to-telecom-and-retail conglomerate’s consolidated net profit stood at ₹18,951 crore, or ₹28.01 per share, in January-March quarter of the 2023-24 fiscal compared to ₹19,299 crore, or ₹28.52 a share, a year ago. The profit was, however, higher quarter-on-quarter when compared to ₹17,265 crore in the October-December period.Patel Engineering | The company on Monday said it has launched a qualified institutional placement (QIP) and set a floor price for the QIP at ₹59.50 per share. Sources close to the company revealed that the QIP size is expected to be around ₹400 crore, with an indicative price set at ₹56.53 per share.PSP Projects | The company is planning to launch qualified institutional placement (QIP) to raise ₹244 crore, sources told. The indicative issue price for the QIP has been set at ₹670.00 per share, representing a slight discount to the closing price on the National Stock Exchange (NSE) on April 22, 2024.Tamilnad Mercantile Bank | Private sector lender said its board of directors has recommended a final dividend of ₹10 (100%) per equity share of the face value of ₹10 each for the financial year 2023-24. The bank’s net profit remained unchanged at ₹253 crore for the fourth quarter that ended March 31, 2024.Tejas Networks | Domestic telecom gear-maker reported a net profit of ₹146.8 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Tejas Networks posted a net loss of ₹11.5 crore. The company’s revenue spiked 343.40% to ₹1,326.9 crore as against ₹299.3 crore in the corresponding period of the preceding fiscal.Mahindra Logistics | The company reported a net loss of ₹11.9 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Mahindra posted a net profit of ₹0.20 crore. The company’s revenue increased 14% to ₹1.450.8 crore as against ₹1,272.5 crore in the corresponding period of the preceding fiscal.Rallis India | Agri goods company reported a net loss of ₹21 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Rallis India posted a net loss of ₹69 crore. The company’s revenue from operations tanked 16.6% to ₹436 crore against ₹523 crore in the corresponding period of the preceding fiscal.UltraTech Cement | The company said it has received an order from the Deputy Commissioner, Divisional GST Office (DGSTO), Kalaburagi, Karnataka, demanding payment for GST, interest, and penalties amounting to ₹7.9 crore.HDFC Bank | The bank’s customers in India encountered difficulties accessing net banking services on Monday (April 22). The bank acknowledged the issue in a statement posted on platform X, stating, “A few customers may experience issues while accessing net banking. We’re actively working to resolve this at the earliest.”
Vodafone Idea | The company said it has successfully secured ₹5,400 crore from 74 anchor investors. Notable among these investors are GQG Partners, The Master Trust Bank of Japan, UBS, Morgan Stanley Investment Management, Citigroup Global Markets, Australian Super, Fidelity, Quant, and Motilal Oswal.Tata Communications | The company reported a 1.5% year-on-year dip in net profit at ₹321.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, the company posted a net profit of ₹326 crore. Revenue from operations increased 24.6% to ₹5,691.7 crore against ₹4,568.7 crore in the corresponding period of the preceding fiscal.ICICI Lombard | Private sector non-life player on Wednesday reported a 19% year-on-year rise in net profit at ₹520 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, ICICI Lombard General Insurance posted a net profit of ₹437 crore.Ambuja Cements | The company said the Adani family has fully subscribed to the company’s warrants programme by further infusing ₹8,339 crore, bringing the total invested amount to ₹20,000 crore. With this injection of capital, the family’s stake in the company has surged by an additional 3.6%, now standing at 70.3%.Angel One | Fintech player on Wednesday reported a 27.3% year-on-year growth in net profit at ₹340 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Angel One posted a net profit of ₹267 crore, the company said in a regulatory filing.Shilpa Medicare | Drug firm said it has received the GMP certification from AGES, Austria, for its unit 4 facility in Jadcherla, Telangana. “Following a successful inspection, the Unit has been issued GMP Certification from Ages, Austria. The previous EU – GMP inspection for this facility was in January 2020,” it added.Brigade Enterprises | Realty firm reported an impressive financial and operational performance for the fiscal year 2023-24 (FY24), marked by record pre-sales and robust growth across its various verticals. In a milestone, the company achieved pre-sales of ₹6,013 crore in FY24.
KIMS | The hospital chain said its subsidiary SPANV Medisearch Lifesciences Private Ltd has received a demand notice under Section 156 of the Income Tax Act, 1961, for a sum of ₹306.97 crore. The notice pertains to the assessment year 2022-2023 and raises queries regarding various financial transactions.Sunteck Realty | Real estate developer announced its business update, showcasing growth in pre-sales for the fourth quarter and fiscal year 2023-24. The company reported a 26% year-on-year increase in Q4 pre-sales, amounting to ₹678 crore.Zee Entertainment | The company said it has withdrawn its application, seeking implementation of the merger with Sony, filed before the National Company Law Tribunal Mumbai bench. In a statement, ZEEL said the steps taken by it to withdraw the implementation application from NCLT are based on the legal advice received by the board.
Jio Financial Services | The company on Monday said it has entered into an agreement with BlackRock Inc and BlackRock Advisors Singapore Pte Ltd to establish a 50:50 joint venture. The JV will focus on undertaking wealth management activities, including the incorporation of a wealth management company.VST Industries | HDFC Mutual Fund on Monday sold a 2% stake in VST Industries for ₹122 crore through open market transactions. Meanwhile, Radhakishan Shivkishan Damani, promoter of Avenue Supermarts, bought 2.33 lakh shares or 1.5% stake in VST Industries for ₹86.24 crore.Manappuram Finance | Gold loan financier on Monday said its board of directors will meet on April 19, 2024, to consider a proposal for raising funds amounting to $500 million in one or more tranches. The funds will be sourced through external commercial borrowings, including via US dollar bonds, in compliance with RBI guidelines.Vedanta | Mining conglomerate on Monday said it has secured an 11-year term loan of ₹3,918 crore from Power Finance Corporation Ltd (PFC), sources said. The financial closure will enable Vedanta to expedite the completion of its power projects.GTPL Hathway | Digital cable TV and broadband service provider on Monday reported a ₹16 crore net profit for the fourth quarter that ended March 31, 2024. In the corresponding quarter last fiscal, GTPL Hathway posted a net loss of ₹10.8 crore.Gujarat Gas | The company on Monday signed a non-binding MoU with Indian Oil to broaden the scope and accessibility of energy solutions for consumers. Indian Oil will provide liquid fuels, automotive lubricants, greases and specialities at Gujarat Gas outlets. Gujarat Gas will set up CNG facilities at Indian Oil outlets.CCL Products | The company on Monday said its arm Ngon Coffee Ltd has appointed Venkataramana Prasad Alam as its chief executive officer effective from April 15, 2024. Alam comes with a total of 36+ years of varied work experience.
Protean Egov Technologies | Mumbai-headquartered company is planning to launch qualified institutional placement (QIP). The QIP offering comprises a base issue size of ₹170 crore and a green shoe option of ₹75 crore, sources in the know told CNBC-TV18. Equirus has been appointed as the banker to the deal.Paytm | The company on Tuesday said it’s banking arm Paytm Payments Bank Ltd’s (PPBL) MD and CEO Surinder Chawla has resigned effective June 26, 2024. The decision, communicated to Paytm’s parent company Paytm, was attributed to personal reasons and a desire to explore new career opportunities.ICICI Prudential | The company on Tuesday said has received a Goods and Services Tax (GST) demand order amounting to ₹20.50 crore for the 2018-19 financial year. The demand, issued under Section 73 of the GST Act, 2017, was received from the office of the State Tax Officer in Gujarat on April 9, 2024.Lupin | Drug maker on Tuesday said it has launched the first generic version of Oracea (doxycycline capsules, 40 mg) in the United States. This milestone follows the company’s approval from the United States Food and Drug Administration (US FDA) for the product.Exide Industries | Battery maker on Tuesday said it has acquired a 26% equity stake in Clean Max Arcadia Private for ₹5.34 crore. The primary objective of Exide’s investment in Clean Max Arcadia is to qualify as a captive consumer of solar power, thereby promoting renewable energy adoption within its operations.Shyam Metalics | The company on Tuesday announced the expansion into stainless steel flat products. The new facility will have a capacity of 0.3 MTPA and will specialise in the production of 200 and 400-series stainless steel hot rolled coils.Shivalik Rasayan | The company on Tuesday said the US FDA has completed the inspection of the Dahej-based API facility of the company with seven observations. The facility was inspected between April 1-9, 2024. These observations are procedural in nature, according to the company.
Axis Bank | Private equity major Bain Capital is likely to sell up to 3.34 crore shares of the private bank through a block deal. The offer size is substantial at $431 million, with the book ranging between ₹1,071 and ₹1,076.05 per share, a discount of nil to around 0.5% from Monday’s closing price of ₹1,076.05.Gland Pharma | Nicomac Machinery Private Ltd and RP Advisory Services Private Ltd (acting on behalf of Lakshmi Trust) are likely to sell 4.4% of the equity in the drug firm for ₹1,400 crore through a block deal. The floor price for the sale has been set at ₹1,725 per share, representing a 7.34% discount on the closing price.Tata Motors | Jaguar Land Rover (JLR) on Monday reported a growth of over 20% in overall sales for the fiscal year ending March 2024. According to the latest data released by JLR, full-year wholesale volumes surged 25% year-on-year (YoY), reaching 4.01 lakh units.Shilpa Medicare | Drug firm on Monday said the company’s board has approved the opening of its QIP at a floor price of ₹477.33 per equity share. “We further wish to inform you that the ‘Relevant Date’ for the purpose of the Issue, in terms of Regulation 171 of the SEBI ICDR Regulations, is April 8, 2024,” the company said.Dilip Buildcon | Infrastructure company on Monday said that it has received an order from Haryana Rail Infrastructure Development Corporation Ltd for the construction of railway lines in the state. The order worth ₹1,092.46 crore includes design and construction for a 21.14 km long railway line between Prithla and Dhulawat in Haryana.NCL Industries | Hyderabad-based cement maker on Monday announced robust performance metrics for the fourth quarter. During the period, the company witnessed a noteworthy increase in cement production, which rose by 4% to 7.30 lakh metric tonne compared to the same period last year.UCO Bank | Public sector lender on Monday said its total business surged to ₹4.50 lakh crore, marking an increase from ₹4.35 crore in the previous quarter and ₹4.11 crore from the same period last year. Furthermore, UCO Bank’s total advances reached ₹1.87 crore, up from ₹1.79 crore in the previous quarter.CG Power | The company on Monday said it has received a demand order from the Additional Commissioner of Central Goods and Services Tax and Central Excise in Bhopal, Madhya Pradesh. The order imposes a penalty of ₹4.098 crore on CG Power for allegedly wrongly availing and reversing input tax credit during the 2018-19 FY.
Hero MotoCorp | The country’s largest two-wheeler maker on Thursday said the Income Tax Department has issued a notice to the company amounting to a total of ₹605 crore, inclusive of interest, for six assessment years. The notice, issued under Section 147 read with Section 143(3) of the Income Tax Act, 1961, pertains to the assessment years from FY14 to FY18, and FY20.Bajaj Finance | Leading retail-focused shadow bank on Thursday said the company’s customer franchise witnessed significant expansion, reaching 83.64 million as of March 31, 2024, compared to 69.14 million in the previous year. This represents an increase of 3.23 million customers during Q4 FY24.IndusInd Bank | Private sector lender on Thursday said the bank’s deposits stood at ₹3.85 lakh crore, marking a 4% quarter-on-quarter increase and a 14% year-on-year (YoY) growth. Similarly, net advances rose to ₹3.43 lakh crore, reflecting a 5% QoQ increase and an 18% surge over Q4 of FY23.RBL Bank | Private sector lender on Thursday said the bank’s total deposits increased 22% year-on-year and 12% quarter-on-quarter. The bank’s gross advances also saw some solid growth, rising by 19% against the year-ago period and 5% over the third quarter. Wholesale advances grew by 7%, with commercial banking seeing an uptick of 17%.Bandhan Bank | Private lender on Thursday said the bank’s loans and advances saw a growth of 10.9% quarter-on-quarter and 17.8% year-on-year. The bank’s total deposits climbed 15.1% QoQ and 25.1% over the year-ago period. The current account savings account (CASA) deposits in the fourth quarter saw an uptick of 18.2% QoQ and 18.1% YoY.Prestige Estates | Realty firm on Thursday said it has acquired approximately 21 acres of prime land in Whitefield, Bengaluru for ₹450 crore. The acquired land will be planned for residential development spanning approximately 4 million square feet of developable area, comprising around 1,800 apartments, Prestige Estates said in a regulatory filing.L&T | Engineering and construction conglomerate on Thursday said the tax authority of Qatar has imposed a penalty of ₹60.84 crore for the tax period April 1, 2018, to March 31, 2019, for variation in the income as declared by the company compared to the assessment by the authority. The company will file an appeal against the levy of this penalty.Sobha | Realty firm on Thursday reported a total sales value of ₹1,504 crore compared to ₹1,463 crore during the same period last year and ₹1,951 crore in the December quarter. Average price realisation at ₹11,230 per square feet from ₹9,898 per square feet.Cello World | Consumer houseware, writing instruments & stationery company on Thursday said it’s setting up a glassware manufacturing facility in Rajasthan to boost manufacturing capabilities across product categories. The company is a leader in the Indian consumerware market, dealing in glassware, opalware, melamine, porcelain, and other related products.
