Avenue Supermarkets in focus on QIP

Avenue Supermarts, the company, which owns and operates popular supermarket chain DMart, launched a qualified institutional placement (QIP) offering to raise up to Rs 4,000 crore at Rs 1,999.04 per share. Funds will be used to expand the company's store network, invest in supply chain and also to repay loans.

ITI said the company has withdrawn FPO due to prevailing market condition.

Hindustan Aeronautics (HAL) said the company, Israel Aerospace Industries (IAI) and Dynamatic Technologies (DTL) signed a memorandum of understanding (MoU) for marketing, manufacturing and selling of IAI's Unmanned Ariel Vehicles (UAVs) to Indian potential customers such as Indian Defence Forces, Paramilitary Forces and Central Armed Police Forces at DefExpo 2020.

Hindustan Petroleum Corporation reported 167.80% rise in consolidated net profit to Rs 1,027.23 crore on 1.98% fall in total income to Rs 71,371.09 crore in Q3 December 2019 over Q3 December 2018.

Hero MotoCorp and Eicher Motors will release numbers for the third quarter today, 6 February 2020.

Engineers India reported 19.50% rise in consolidated net profit to Rs 111.82 crore on 51.42% rise in total income to Rs 965.84 crore in Q3 December 2019 over Q3 December 2018.

GE Power India reported 146.06% rise in consolidated net profit to Rs 100.81 crore on 45.69% rise in total income to Rs 841.20 crore in Q3 December 2019 over Q3 December 2018. The company earned exceptional item of Rs 56.53 crore gain on sale of Vadodara factory land & building. The company ended the quarter with an order backlog of Rs 8818 crore.

Lupin announced that it has received approval for its Leflunomide Tablets USP, 10 mg and 20 mg, from the United States Food and Drug Administration (U.S. FDA), to market a generic equivalent of Arava Tablets, 10 mg and 20 mg, of SanofiAventis. The product would be manufactured at Lupin's Pithampur (Unit 1) facility, India. Leflunomide Tablets USP, 10 mg and 20 mg, are indicated for the treatment of adults with active rheumatoid arthritis (RA).

DLF reported 23.53% rise in consolidated net profit to Rs 414.01 crore on 26.67% fall in total income to Rs 1,764.27 crore in Q3 December 2019 over Q3 December 2018. The company declared interim dividend of Rs 1.20 per share.

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