Trending Stocks: Adani Green, Subex, Voltas, ITC and others in news today

Adani Green Energy

The Adani Group-owned firm reported a 2.3% year-on-year
decline in consolidated profit at Rs 214 crore for the quarter ended June 2022,
impacted by lower other income and forex loss. Revenue jumped by 58%
year-on-year to Rs 1,701 crore during the reported quarter. Strong growth in
revenue and EBITDA from the power supply is backed by capacity addition,
improved solar and wind CUF, and high hybrid CUF. The consistent EBITDA margin
(flat at 92% year-on-year), is backed by the high solar, wind, and hybrid CUF
and cost efficiencies brought in through real-time centralized monitoring
through the energy network operation center.

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Aurobindo Pharma

The pharma major’s API non-antibiotic manufacturing
facility in Andhra Pradesh has received a ‘Form 483’ with 3 observations, but
none of these observations is related to data integrity. The USFDA inspected
the company’s Unit XI, an API non-antibiotic facility from July 25 to August 2.
Earlier, the same Unit was classified as OAI on May 17, 2019, and subsequently
issued a warning letter dated June 20, 2019.

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Subex

Jio Platforms announced a partnership with Subex for its AI
Orchestration Platform, Hypersense, which can allow telecom operators to
deliver on the promise of AI across the data value chain. Jio Platforms will
offer its Cloud Native 5G Core to telcos globally along with Subex’s HyperSense
for enabling closed-loop network automation, product performance, and customer
experience analytics.

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Voltas

The Tata Group subsidiary reported a 10% year-on-year
decline in profit at Rs 110 crore for the quarter ended June 2022 impacted by
other income. Revenue from operations increased by 50% year-on-year to Rs 2,795
crore during the first quarter, largely driven by the unitary cooling products
segment that grew 125% year-on-year.

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Paradeep Phosphates

The company posted a 4.7% year-on-year increase in
consolidated net profit at Rs 62.77 crore for the quarter ended June 2022,
impacted by higher finance costs, and input costs but supported by the top
line. Revenue from operations surged 85% year-on-year to Rs 2,434.66 crore
during the reported quarter.

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eClerx Services

The company’s board of directors will meet on August 9 to
consider the issuance of bonus equity shares. The board will also consider
un-audited financial results (consolidated and standalone) of the company for
the quarter ended June 2022, on the same date.
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ITC

The company has shut its lifestyle retailing business
following a strategic review of its business portfolio.

Jubilant Pharmova

The USFDA has issued six observations to the company’s solid
dosage manufacturing facility at the Roorkee plant. The USFDA finished an audit
of this facility of Jubilant Generics, a subsidiary of its fully owned
subsidiary Jubilant Pharma.

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Mahindra & Mahindra Financial Services

The company said in July 2022, the business continued its
momentum with the disbursement of approximately Rs 3,912 core delivering a 63%
year-on-year growth and a 3% sequential month-on-month growth, against the
backdrop of a positive macro environment. The year-to-date disbursement at approximately
Rs 13,385 crore registered a year-on-year growth of 114%. The collection
efficiency (CE) was at 97% for July 2022, better than the CE of 95% for July
2021.