Wipro, ACC, NTPC in focus

Hindustan Unilever, Axis Bank, Bajaj Finance, Bajaj Finserv, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, SBI Life Insurance Company will declare their April to June quarterly results today, 21 June 2020.

Wipro announced a partnership with ComplianceQuest to develop transformative quality management solutions for the medical devices and life sciences industries.

ACC's consolidated net profit tumbled 40.5% to Rs 270.95 crore in Q2 June 2020 as against Rs 455.68 in Q2 June 2019. Revenue from operations stood at Rs 2602.24 crore in Q2 June 2020, declining 37% from Rs 4149.82 crore reported in the same period last year. Profit before tax (PBT) declined 40% year-on-year to Rs 403.11 crore in Q2 June 2020 as against Rs 672.63 in Q2 June 2019. Total tax expense tumbled 39% to Rs 132.16 crore in Q2 June 2020 over Q2 June 2019.

The cement major said it had shut-down plants following nationwide lockdown which was announced by the Government of India in view of COVID-19. From 20 April 2020, operations at plants commenced in a phased manner taking into account directives from various government authorities.

NTPC informed that 800 MW, Unit-2 of Lara Super Thermal Power Project, has been added to installed capacity of the company on successful completion of trial operation. With this, the total installed capacity of NTPC and NTPC group has become 51155 MW and 62910 MW respectively.

Jubilant Life Sciences announced that its subsidiary, Jubilant Generics (Jubilant), has received approval from the Drug Controller General of India (DCGI) to manufacture and market the investigational antiviral drug remdesivir for 100 mg/vial (lyophilized injection) for restricted emergency use in India for the treatment of severe COVID-19.

NHPC said that a Memorandum of Understanding (MoU) has been signed with Green Energy Development Corporation of Odisha (GEDCOL). Both parties may collaborate and cooperate to form a Joint Venture Company (JVC) to plan and develop techno-commercially feasible floating solar power projects of 500 MW in Odisha under UMREPPs Scheme of MNRE, in a phased manner, preferably in packages of 50 MW each. The parties also agreed to explore further potential of installing floating solar projects after joint identification in subsequent periods in Odisha.

Bombay Dyeing & Manufacturing Company reported consolidated net loss of Rs 129.25 crore in Q1 June 2020, as compared to net profit of Rs 27.65 crore in Q1 June 2019. Total income dropped 85.73% to Rs 96.09 crore.

Sunteck Realty said its board will meet on 28 July 2020 to consider raising of funds by way of debt or equity or any other convertible securities etc. and through QIP, FPO, rights issue, debt issue, preferential issue, etc. or any other mode.

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