ACC
The cement major recorded a 30% YoY decline in Q1CY22 profit at Rs 396 crore as operating income dropped 26% to Rs 635 crore due to a significant fuel cost increase. Revenue increased by 2.6% year-on-year to Rs 4,322 crore in March 2022 quarter, while cement sales volume dropped to 7.71 million tonnes, from 7.97 million tonnes YoY.
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Larsen & Toubro Infotech
The IT services company registered a 4% sequential growth in profit at Rs 637.5 crore led by higher other income and revenue also grew by 4% QoQ to Rs 4,301.6 crore in Q4FY22. The company won 4 large deals with net new TCV (total contract value) of over $80 million. The dividend for the financial year 2021-22 was Rs 30 per share.
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SBI | Axis Bank
State Bank of India (SBI), has increased the marginal cost of lending rate (MCLR) by 0.1%. The new rate is effective from April 15, 2021. While Axis Bank has increased its Marginal Cost of Lending Rate (MCLR) by 5 basis points (bps) or 0.05% with effect from April 18, 2022.
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Bajaj Electricals (BEL)
The company has entered into a partnership with wtec which is a global developer of technology dedicated to innovation, reducing environmental impact, and enabling smart building use cases throughout the built space.
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HBL Power Systems
Banyantree Growth Capital, LLC offloaded a 2.55% equity stake in the company via open market transactions during April month. With this, its shareholding in the company stands reduced to 5.9%, down from 8.45% earlier.
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Bharat Forge
The company has subscribed to 1,13,75,000 equity shares of Rs 10 each of Avaada MHVidarbha (AMHVPL) amounting to Rs 11.37 crore. Subsequent to the said subscription, the company holds 26% of the paid-up share capital of AMHVPL.
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Benares Hotels
Profit for the quarter ended March 2022 grew by 196% year-on-year to Rs 3.03 crore with EBITDA rising 68% to Rs 5.8 crore YoY, while revenue increased by 46.3% to Rs 16.12 crore in the same period. The company has announced a dividend of Rs 10 per share, which is subject to the approval of the shareholders.
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Coal India (CIL)
The company has raised its supplies to thermal power stations by 14.2% during the first half of April 2022 compared to the same period last April. CIL’s supplies have hit 1.64 million tonnes (MTs) per day during this period against 1.43 MTs in a similar period in April 2021.
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Insecticides (India)
The company has received the patent for an invention entitled ‘Novel Granules and its pesticidal compositions’, from the Patent Office, The Government of India. This is valid for 20 years.
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Escorts
The company announced that its division, Escorts Agri Machinery (EAM), will increase the prices of its tractors from Wednesday, 20 April 2022.
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Punjab & Sind Bank
The company in a BSE filing said the NPA accounts – SREI Infrastructure Finance with outstanding dues of Rs 510.16 crore and SREI Equipment Finance with outstanding dues of Rs 724.18 crore — have been declared as fraud. The bank has reported the same frauds to the RBI. Further, the accounts have been fully provided for.
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Procter & Gamble Hygiene & Health Care
The company on Tuesday appointed LV Vaidyanathan as managing director for a period of five years with effect from 1 July 2022.
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Mahindra Lifespace Developers
The company’s subsidiary Mahindra World City Developers has received a Rs 102 crore income tax notice. The amount included interest of Rs 43.1 crore against the return of income filed for the assessment year 2016-17 by Mahindra World.
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HDFC Ltd | Ansal Housing Ltd
The company on Tuesday divested a 1% stake in Ansal Housing & Construction Ltd through an open market transaction. Housing Development Finance Corporation Ltd (HDFC) sold a total of 5,74,726 shares, amounting to a 0.96% stake in Ansal Housing Ltd.
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ONGC
Pomila Jaspal on April 19 became the first woman Director (Finance) of India’s top oil and gas producer ONGC.
