Bharti Airtel, Tata Steel, Dr. Reddy's Labs in focus

Bharti Airtel reported a consolidated net profit of Rs 284 crore in Q1 FY22 as against a net loss of Rs 15,933 crore in Q1 FY21. Total revenues increased by 15.3% YoY to Rs 26,854 in the first quarter. EBITDA improved by 30.3% to Rs 13,189 crore in Q1 FY22 from Rs 10,119 crore in Q1 FY21. EBITDA margin was at 49.1% as on 30 June 2021 as compared with 43.4% as on 30 June 2020.

Tata Steel said that rating agency S&P has upgraded the company's long-term rating to BB from BB-; outlook remains stable. S&P expects Tata Steel's debt levels to decline materially over the next two years on the company's commitment to deleverage, supported by strong operating cash flows.

Dr. Reddy's Laboratories, along with its subsidiaries announced the re-launch of over-the-counter (OTC) Naproxen Sodium Tablets USP, 220 mg, the store-brand equivalent of Aleve, in the U.S. market, as approved by the U.S. Food and Drug Administration (USFDA).

Natco Pharma announced that it has transferred the Lenalidomide Capsules ANDA to Arrow International as per an earlier agreement between the parties.

G R Infraprojects has received Letter of Acceptance (LoA) for 'Construction of Elevated Structures (Viaduct & stations) from Gottigere to Swagath Road Cross of Bangalore Metro Rail Project, Phase- 2 worth Rs 364.87 crore.

Linde India has signed a business transfer agreement with HPS Gases, Vadodara to acquire its entire packaged gases business along with certain distribution assets for an aggregate cash consideration of Rs 27.5 crore.

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