1 / 11Mahindra & Mahindra| The company acquired 3.53 percent stake in RBL Bank for Rs 417 crore, confirming a CNBC-TV18 newsbreak. Stake acquired at Rs 197 per share.
2 / 11Axis Bank | Private sector lender on Wednesday reported a 40.5 percent year-on-year (YoY) jump in net profit at Rs 5,797 crore for the first quarter that ended June 30, 2023. Net interest income (NII) rose 27.4 percent year-on-year to Rs 11,958 crore from Rs 9,384 crore in the corresponding period of the preceding fiscal.
3 / 11Tech Mahindra | The country's fifth largest IT services company on Wednesday reported a 38 percent fall in June quarter net profit at Rs 692.5 crore due to a sharp narrowing of the profit margins. Its revenues slid to Rs 13,159 crore in the reporting quarter from Rs 13,718 crore in the preceding March quarter and was only 3.5 percent up when compared to the year-ago period.
4 / 11Dr Reddy's Labs | The company on Wednesday reported an 18 percent increase in consolidated profit after tax at Rs 1,405 crore in the June quarter, fuelled by US generics and strong performance in Russia. The consolidated total revenue from operations was Rs 6,757.9 crore, compared to Rs 5,232.9 crore in the year-ago period.
5 / 11Marico | FMCG major on Wednesday announced that it has signed definitive agreements to acquire up to 58 percent in Satiya Nutraceuticals Private Limited, a company that owns the brand “The Plant Fix- Plix” in a cash deal for Rs 369.01 crore. As part of the transaction, the company has acquired a 32.75 percent stake in Satiya Nutraceuticals on a fully diluted basis.
6 / 11Tata Consumer Products | Tata Group's fast-moving consumer goods arm on Wednesday reported a 22.1 percent year-on-year (YoY) increase in net profit at Rs 337.7 crore for the first quarter that ended June 30, 2023. In the quarter, revenue from operations stood at Rs 3,741.2 crore during the period under review, up 12.5 percent against Rs 3,326.8 crore in the corresponding period of the preceding fiscal.
7 / 11REC | State-owned company on Wednesday posted a 21 percent rise in consolidated net profit to Rs 2,968.05 crore for the June quarter, primarily on the back of higher revenues. REC's total income in the first quarter of the current fiscal rose to Rs 11,091.77 crore, up from Rs 9,506.06 crore in the same period a year ago.
8 / 11Reliance Industries | Jio Financial Services Ltd and BlackRock on Wednesday entered into a strategic agreement to form a 50:50 joint venture named Jio BlackRock. The joint venture aims to revolutionise India's asset management industry by providing affordable and innovative investment solutions to millions of investors in the country through a digital-first approach.
9 / 11Jindal Stainless | Leading stainless player on Wednesday reported a 49.7 percent year-on-year (YoY) jump in net profit at Rs 745.8 crore for the first quarter that ended June 30, 2023. In the quarter, total revenue stood at Rs 10,184 crore during the period under review, up 25.5 percent against Rs 8,115.6 crore in the corresponding period of the preceding fiscal.
10 / 11Poonawalla Fincorp | The company on Wednesday announced that it has completed the sale of a controlling stake in its housing subsidiary Poonawalla Housing Finance Ltd to Perseus SG Pte Ltd, an entity affiliated with TPG Global. Following the stake sale, Poonawalla Housing Finance will cease to be a subsidiary of Poonawalla Fincorp.
11 / 11Colgate-Palmolive | FMCG major on Wednesday reported a 13.2 percent year-on-year increase in net profit at Rs 273.7 crore for the first quarter that ended June 30, 2023. In the quarter, total revenue stood at Rs 1,323.7 crore during the period under review, up 10.6 percent against Rs 1,196.8 crore in the corresponding period of the preceding fiscal.
