HDFC Bank, HCL Tech, Avenue Supermarts to react to earnings

HDFC Bank reported an 17.6% increase in its net profit to Rs 8834.30 crore in Q2FY22 over Q2FY21. The bank's net revenues rose 14.7% to Rs 25085.20 crore in Q2FY22 over Q2FY21.

HCL Technologies reported 1.6% increase in consolidated profit to Rs 3,265 crore on 2.9% rise in revenue to Rs 20,655 crore in Q2FY22 over Q1FY22.

Avenue Supermarts' reported consolidated net profit of Rs 418 crore in Q2FY22 as compared to net profit of Rs 199 crore in Q2FY21. The company's total revenue rose to Rs 7789 crore in Q2FY22 from Rs 5306 crore in Q2FY21.

Dr. Reddy's Laboratories along with its subsidiaries announced the launch of Carmustine for Injection, USP, a therapeutic equivalent generic version of BiCNU (carmustine for injection) approved by the U.S. Food and Drug Administration (USFDA).

Lupin Pharmaceuticals Inc. is voluntarily recalling select batches of Irbesartan Tablets and Irbesartan and Hydrochlorothiazide Tablets to the consumer level. Lupin Pharmaceuticals, Inc. is the U.S. based wholly-owned subsidiary of Lupin.

IndusInd Bank has scheduled a meeting of the board of directors of the bank on 21 October 2021 to consider and approve, the proposal relating to raising of funds in Indian or Foreign Currency through the issuance of Unsecured Non-Convertible Redeemable Basel III-Compliant Regulatory Tier II Bonds, subject to receipt of regulatory / statutory approvals.

PNB Housing Finance said that its board has decided not to proceed with a preferential issue of shares to investors led by Carlyle after the plan was delayed due to pending legal proceedings.

NBCC (India) secured the total business of Rs. 2100.96 crore in September 2021.

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