Bharti Airtel Ltd | The telco's shareholders have approved the re-appointment of Gopal Vittal as managing director of the company for a period of five years with effect from February 1, 2023. Over 97 percent of the total votes polled were in favour of the resolution, and the same "has been passed with the requisite majority", the telco said in a regulatory filing on the outcome of its Annual General Meeting (AGM).
Adani Enterprises Ltd | The Competition Commission of India (CCI) has given its approval for the acquisition of Holcim's stake in Ambuja Ltd and ACC Ltd by the Adani Group. In a tweet on Friday, the watchdog said it has approved the "acquisition of the stake in Holderind Investments, Ambuja Cements and ACC by Endeavour Trade and Investment".
Mahindra and Mahindra Ltd | Auto manufacturer Volkswagen has signed a commercial term sheet with the automotive giant for the supply of MEB electronic components.
Housing Development Finance Corporation Ltd | The fair trade regulator Competition Commission of India (CCI) has approved the merger proposal of HDFC Bank and its parent company.
Hero MotoCorp Ltd | The automobile country reported a close to 71 percent increase in profit at Rs 624.5 crore in the first quarter ended June 30, 2022, riding on higher sales. During the quarter, the company sold 13.90 lakh units of motorcycles and scooters, a growth of 36 percent over the corresponding period in the previous fiscal. Revenue in the first quarter stood at Rs 8,393 crore as compared to Rs 5,487 crore in the corresponding period a year ago.
Grasim Industries Ltd | The Aditya Birla Group major’s standalone profit in the first quarter jumped nearly 68 percent to Rs 808.6 crore year-on-year. Revenue rose nearly 93 percent year-on-year, while EBITDA improved 78.4 percent to Rs 1,320 crore from Rs 740 crore in April-June 2021. Margin came in at 18.2 percent against 19.7 percent on a year-on-year basis.
Shriram Properties Ltd | The company reported a 26 percent increase in sales for the quarter ending June that resulted in a consolidated net profit of Rs 10.48 crore. The company reported a 20 percent year-over-year growth in sales volumes at 0.66 million on sustained sales across projects and the launch of a new phase in an ongoing project.
Life Insurance Corporation of India | The life insurance major reported a 20.35 percent increase in total premium income for the quarter ended June 2022. The profit stood at Rs 682.88 crore against Rs 2.94 crore in the year-ago period.
Oil and Natural Gas Corporation Ltd | The PSU reported a standalone profit of Rs 15,206 crore, up 251 percent year-on-year. Standalone revenue stood at Rs 42,321 crore, while EBITDA came in at Rs 24,731 crore for the June FY23 quarter.
Indiabulls Real Estate Ltd | The company has cut its net debt by 54 percent to Rs 464 crore during the three months ended June, compared to the March quarter. In the investor presentation, IBREL said its net debt stood at Rs 464 crore at the end of June quarter, as against Rs 1,005 crore as on March 31, 2022. Gross debt fell to Rs 739 crore from Rs 1,310 crore.