Future Retail | Reliance Industries

The $3.4 billion deal to take over the retail assets of Future Retail (FRL) cannot be implemented as the company’s secured creditors have “voted against the scheme”, Reliance Industries told the stock exchanges.

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ICICI Bank 

The country’s second-largest private sector lender reported a 59.4% year-on-year growth in standalone profit at Rs 7,019 crore in the quarter ended March 2022 due to a sharp fall in provisions and a jump in operating profit. Net interest income grew by 21% YoY to Rs 12,604.6 crore in Q4FY22, which also supported profitability. The bank declared a dividend of Rs 5 a share.

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Quarterly Results on April 25

Tatva Chintan Pharma Chem, Tata Investment Corporation, Century Textiles & Industries, Eveready Industries India, Gujarat Mineral Development Corporation, Mahindra CIE Automotive, Meghmani Finechem, Arihant Capital Markets, Artson Engineering, Automotive Stampings & Assemblies, Axita Cotton, Divyashakti, Maharashtra Scooters, Snowman Logistics, Steel Exchange India, Sylph Technologies, Triveni Enterprises and VTM will release quarterly earnings on April 25.

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Hindustan Zinc 

The company clocked an 18% year-on-year growth in consolidated profit at Rs 2,928 crore in Q4FY22 driven by higher revenue and healthy operating income and margin. Revenue during the quarter grew by 26.6% YoY to Rs 8,797, largely led by the zinc business which increased 51% YoY.

Reliance Industries Ltd (RIL)

The company has ordered at least 15 million barrels of Russian oil since Russia invaded Ukraine in February, according to Reuters.

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HDFC Bank

The bank’s total advances in Uttar Pradesh have crossed Rs 65,000 crore. As of December 31, 2021, the bank’s advances in Uttar Pradesh stood at Rs 67,756 crore. 

RailTel Corporation of India

The state-owned telecom infrastructure provider received a work order from the Odisha government’s electronics & information technology department. The company will be provisioning secondary bandwidth and replacement of equipment along with the implementation of SDWAN for the OSWAN project for five years at a cost of Rs 122.08 crore.

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NMDC 

The company has received the Public Relations Awards 2022 conferred by the Public Relations Society of India (PRSI), winning the first position in four categories.

Tata Metaliks

The company recorded a 30% year-on-year decline in Q4FY22 profit at Rs 52.5 crore due to higher input costs but was supported by income from the sale of land in Maharashtra. However, revenue increased 22% to Rs 808 crore from the year-ago quarter.

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Central Bank of India

Reserve Bank of India (RBI) has imposed a fine of Rs 36 lakh on the Central Bank of India for violating norms on customer protection.

Tejas Networks 

The telecom and networking products maker posted a loss of Rs 49.62 crore in the quarter ended March 2022 against a profit of Rs 33.55 crore in the year-ago period due to lower revenue growth. Revenue fell sharply by 37% to Rs 126.5 crore against Rs 201.5 crore during the period due to global chip supply shortages but sequentially increased 18%. The company continued to see a positive business momentum, with an order inflow of Rs 316 crore during the quarter, taking the total order book to an all-time high of Rs 1,175 crore.

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Linde India 

The company has acquired 11,375,000 (26%) equity shares of Rs 10 each in Avaada Mhyavat. The company has invested a sum of Rs 11.40 crore in Avaada Mhyavat.

Aditya Birla Money 

Profit more than doubled to Rs 7.62 crore in the March quarter, up from Rs 3.68 crore in the same period of the previous year. Revenue increased 23.2% to Rs 60.4 crore year-on-year, driven by the broking business that contributed 87% to the kitty.

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Zomato 

The company has introduced 100% ‘plastic neutral deliveries’ from April 2022 onwards, while also setting a target to deliver more than 10 crore orders in sustainable packaging over the next three years.

Sundram Fasteners

The company has reported a fall of 45.08% in its net profit at Rs 71.41 crore for the quarter under review as compared to Rs 130.02 crore for the same quarter in the previous year. On a consolidated basis, the company has reported a fall of 23.70% in its net profit at Rs 107.43 crore for the quarter under review as compared to Rs 140.80 crore for the same quarter in the previous year.

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Oil and Natural Gas Corporation (ONGC) 

The company has commissioned two projects costing Rs 6,000 crore to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas output over the life of the Mumbai High fields, as it doubles down efforts to raise productivity from mature and ageing fields.

Aurobindo Pharma | Sun Pharma

Aurobindo Pharma and Sun Pharma are recalling different products in the US market for various reasons, as per the latest enforcement report by the US Food and Drug Administration (USFDA).

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RITES

The company has been conferred the first position under the ‘consulting category’ at the 17th National Awards for Excellence in Cost Management-2019.

Ashiana Housing 

The company has signed a Memorandum of Understanding (MoU) with the Rajasthan government to invest Rs 420 crore in developing housing projects in Bhiwadi.

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Tata Consultancy Services (TCS) 

The company has been recognized as a leader in Everest Group’s PEAK Matrix for Multi-Process Human Resources Outsourcing (MPHRO) Services.

National Aluminium Co Ltd (NALCO) 

The company is facing a coal supply shortfall, due to supplies being diverted to priority electricity generation and a shortage of trains to deliver fuel to NALCO’s power plants, according to Reuters.