Bank of Baroda

The public sector bank reported 79.4% year-on-year growth
in standalone profit at Rs 2,168 crore for the quarter ended June 2022, despite
a decline in other income and pre-provision operating profit. The significant
dip in bad loan provisions supported the bottom line. Net interest income (NII)
rose by 12% year-on-year to Rs 8,838.4 crore in April to June quarter, with
credit growth at 18% and a 10.9% year-on-year increase in global deposits.

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Yes Bank

The bank announced raising equity capital of $1.1 billion
(Rs 8,898.47 crore) through funds affiliated with global private equity
investors Carlyle and Advent International. Each investor will potentially
acquire up to a 10% stake, Yes Bank said in a BSE filing. The board of directors
has approved to allot 369.61 crore equity shares at a price of Rs 13.78 per
share and 256.75 crore warrants exchangeable into equity shares, at a price of
Rs 14.82 per share, through preferential allotment on a private placement
basis, which is subject to the approval of shareholders and RBI. The Carlyle
Group and Verventa Holdings (affiliated with Advent) will pour money into the
bank against 184.8 equity shares each and 128.37 crore warrants each.

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Cipla

The pharma major reported a 4% year-on-year decline in consolidated net profit at Rs 686 crore for the quarter ended June 2022 as EBITDA plunged 15% year-on-year to Rs 1,143 crore. Revenue declined by 2.3% to Rs 5,375 crore in the reported quarter. India business decreased 8.4% to Rs 2,483 crore and North America business grew by 15.5% to Rs 1,199 crore in the April-June quarter of fiscal 2023.

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Dr. Reddy’s Laboratories

The pharma company signed a licensing agreement with Slayback Pharma to obtain exclusive rights in the first-to-file ANDA for the private label version of Lumify in the US. Lumify is an over-the-counter (OTC) eyedrop that can be used to relieve redness in the eye due to minor irritations. The agreement also provides Dr. Reddy’s exclusive rights to the product outside the US.

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IDFC First Bank

The private sector lender posted a highest-ever standalone
profit of Rs 474.33 crore in the quarter ended June 2022, against a loss of Rs
630 crore in the same quarter of the previous financial year. The increase in
core operating income and decline in provisions aided the profitability, with sequential
growth in profit at 38%. Net interest income (NII) rose by 26% to Rs 2,751.1
crore year-on-year during the quarter. Net interest margin improved by 39 basis
points to 5.89% for the reported quarter. Sequentially, the net interest
margins declined by 38 basis points.

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Rain Industries

The chemical company reported a 184% year-on-year increase
in consolidated profit at Rs 668.50 crore for the April-June quarter of fiscal
2023, on the back of a healthy top line and operating performance. Revenue
surged by 52% to Rs 5,540.6 crore due to solid growth in average blended
realization for carbon and advanced material sales, though volumes declined.
Operating profit increased 78.5% to Rs 1,210.5 crore during the same period.

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Zee Entertainment Enterprises

The company has secured no objection letters from BSE and
the National Stock Exchange of India, for the proposed Composite Scheme of
Arrangement amongst Zee Entertainment, Bangla Entertainment, and Culver Max
Entertainment (formerly Sony Pictures Networks India). These observation
letters allow the company to file a Composite Scheme of Arrangement with
National Company Law Tribunal, Mumbai. Last December, the companies had signed
definitive agreements to merge Zee into Sony and combine their linear TV
networks, digital assets, production operations and programme libraries.

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DLF

The real estate major recorded a 36% year-on-year increase
in profit at Rs 470 crore for the first quarter of fiscal 2023. Consolidated
revenue jumped 22% year-on-year to Rs 1,516 crore in the same period. Net sales
booking rose 1015 year-on-year to Rs 2,040 crore.