RIL, Cipla, Tata Motors in focus

Reliance Industries (RIL) on Thursday (18 June) said Saudi Arabia's Public Investment Fund (PIF) will buy 2.32% stake in Jio Platforms for Rs 11,367 crore. This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Jio Platforms is a wholly-owned subsidiary of RIL.

Cipla and Roche Products (India) (Roche Pharma) announced that the two companies have entered into an agreement to provide better access to innovative medicines for patients in India. Under this agreement, Cipla will be responsible for marketing and distribution of Roche Pharma's key trademark oncology drugs viz.,Trastuzumab (Herclon), Bevacizumab (Avastin) and Rituximab (Ristova).

Tata Motors informed that based on Moody's Investor Service letter dated 18 June 2020, the credit rating of the company and its subsidiary Jaguar Land Rover Automotive Plc has been downgraded due to challenges posed by the coronavirus outbreak.

Thermax reported 69.24% fall in consolidated net profit to Rs 39.03 crore on 36.32% fall in total income to Rs 1,353.66 crore in Q4 March 2020 over Q4 March 2019.

Gujarat State Fertilizers & Chemicals reported 36.83% fall in consolidated net profit to Rs 61.85 crore on 6.45% fall in total income to Rs 1,874.73 crore in Q4 March 2020 over Q4 March 2019.

MOIL reported 90.35% fall in consolidated net profit to Rs 13.47 crore on 41.95% fall in total income to Rs 282.96 crore in Q4 March 2020 over Q4 March 2019.

Lumax Industries reported 14.81% rise in consolidated net profit to Rs 16.36 crore on 11.33% fall in total income to Rs 393.64 crore in Q4 March 2020 over Q4 March 2019.

Capacite Infraprojects reported 84.94% rise in consolidated net profit to Rs 4.04 crore on 38.31% fall in total income to Rs 312.92 crore in Q4 March 2020 over Q4 March 2019.

DIC India said that the registration of the land at Chandivali, Mumbai has been completed in favour of Godrej Properties on 18 June 2020. The company has received the first tranche of Rs 102.5 crore upon registration.

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