L&T, Rossari Biotech, Rallis India in focus

Larsen & Toubro (L&T) reported a 68.37% decline in consolidated net profit to Rs 536.88 crore in Q1 June 2020 from Rs 1697.62 crore in the same period last year. Profit was impacted mainly due to lower revenue, credit provisions in financial services business and under recovery of overheads. The company reported exceptional gain of Rs 224.72 crore in Q1 June 2020 on divestment of wealth management business.

Shares of speciality chemical maker Rossari Biotech will debut on bourses tomorrow, 23 July 2020. Shares were issed at Rs 425 per share in public issue which was subscribed over 79 times.

Rallis India reported 35.58% rise in consolidated net profit to Rs 91.87 crore on 6.85% rise in total income to Rs 674.45 crore in Q1 June 2020 over Q1 June 2019.

Bajaj Holdings & Investment reported 1.47% rise in consolidated net profit to Rs 679.13 crore on 0.79% rise in total income to Rs 740.26 crore in Q1 June 2020 over Q1 June 2019.

HeidelbergCement India reported 38.07% fall in net profit to Rs 48.94 crore on 30.54% fall in total income to Rs 417.48 crore in Q1 June 2020 over Q1 June 2019.

ICICI Securities reported 69.71% rise in consolidated net profit to Rs 193.08 crore on 35.88% rise in total income to Rs 546.40 crore in Q1 June 2020 over Q1 June 2019.

Glenmark Pharmaceuticals announced top-line results from a Phase 3 clinical trial in mild to moderate COVID-19 patients conducted across seven clinical sites in India. The open-label randomized, multicenter clinical trial, conducted in 150 patients, evaluated the efficacy and safety of Favipiravir plus standard supportive care (Favipiravir treatment arm), versus standard supportive care alone (control arm), in mild to moderate patients, randomized within a 48 hour window of testing RT-PCR positive for COVID-19.

Satin Creditcare Network said that meeting of Working Committee of the Board of Directors of the company is scheduled on 25 July 2020 for the issuance of Non-Convertible Debentures up to the amount of Rs 25 crore through private placement.

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