UltraTech Cement | The cement maker approved the acquisition of a 28.42% stake from promoters of India Cements, confirming a CNBC-TV18 newsbreak. UltraTech will buy N Srinivasan’s 28.42% stake in India Cements, which will increase its stake to 51%.
ICICI Bank | The private sector lender reported its quarterly earnings for the April to June 2024 period over the weekend. The lender’s net interest margin (NIM) declined marginally to 4.36%, while net interest income (NII) rose 7.3% year-on-year to ₹19,552.9 crore. Net profit for the three-month period rose 14.6% year-on-year to ₹11,059.1 core.
Punjab National Bank | The lender reported a 10.2% year-on-year increase in its net interest income (NII) to ₹10,476.2 crore in the April to June 2024 period. The bank reported the highest-ever quarterly profit of ₹3251.5 crore on account of improvement in various parameters, including net interest income, recovery and CASA.
Bharat Heavy Electricals Ltd (BHEL) | The company announced that it has been awarded a contract by Damodar Valley Corporation (DVC) to set up the 2×800 MW Koderma phase-II thermal power station in Koderma district, Jharkhand. The total value of the order exceeds ₹10,000 crore, excluding taxes and duties.
SBI Cards | The pure-play credit card issuer reported a marginal year-on-year (YoY) rise in net profit at ₹594.5 crore for the first quarter of FY25. The company’s revenue from operations increased 11.4% to ₹4,358.6 crore against ₹3,911.9 crore in the corresponding period of the preceding fiscal. that ended June 30, 2024.
NTPC | The state-owned power generation company recorded a 13.5% year-on-year jump in its revenue at ₹44,419 crore for the April to June 2024 quarter. The firm’s profit rose 11% year-on-year to ₹4,511 crore in the first quarter of FY25.
Dr Reddy’s Laboratories | The pharmaceutical company reported a decline in its net profit at ₹1,392 crore for the April to June 2024 quarter. DRL’s revenue surpassed projections by almost 7% to come in at ₹7,672 crore for the quarter under review. It is 14% higher than the company’s revenue in the corresponding quarter last fiscal.
Biocon | The USFDA issues Form 483 with 10 observations at the company’s Bengaluru facility. The US regulator had inspected the facility from July 15-26.
MCX | The commodity exchange reported a 26.2% sequential rise in its net profit. The revenue increased 29.4% while the EBITDA saw a 30% jump quarter-on-quarter.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
