HDFC Bank on Saturday announced that its board has approved to buy 3.56 crore shares or 4.99% stake in HDFC ERGO General Insurance Co. from its parent and mortgage lender Housing Development Finance Corporation. The aggregate consideration for purchase of 3,55,67,724 shares of Rs 10 each of HDFC ERGO is Rs 1,906.43 crore i.e. Rs 536 per share.
Consolidated net profit of NTPC rose 195.94% to Rs 4541.79 crore in the quarter ended March 2021 as against Rs 1534.70 crore during the previous quarter ended March 2020. Revenue from operations declined 0.95% to Rs 30102.60 crore in the quarter ended March 2021 as against Rs 30390.51 crore during the previous quarter ended March 2020.
Credit rating agency CRISIL has downgraded the rating on the long-term bank facilities of Bharat Heavy Electricals (BHEL) from CRISIL AA/Negative to CRISIL AA-/Negative.
Alkem Laboratories said that the USFDA had conducted an inspection of the company's manufacturing facility located at St. Louis, USA from 14 June 2021 to 18 June 2021. At the end of the inspection, the company has received Form 483 with two observations.
On a consolidated basis, Jubilant Industries' net loss (from continuing operations) widened to Rs 27.75 crore in Q4 FY21 compared with net loss of Rs 1.19 crore in Q4 FY20. Revenue from operations surged 58.48% to Rs 195.82 crore in Q4 FY21 compared with Rs 123.56 crore in Q4 FY20. Pre-tax profit stood at Rs 6.73 crore in Q4 FY21 as against a pre-tax loss of Rs 1.07 crore in Q4 FY20.
On a consolidated basis, GMR Infrastructure reported net loss (from continuing operations) of Rs 725.47 crore in Q4 FY21, lower than net loss of Rs 1,127.16 crore in Q4 FY20. Revenue from operations dropped 16.12% to Rs 1,633.76 crore in Q4 FY21 as against Rs 1,947.90 crore in Q4 FY20.
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NBCC (India) has awarded a work order for the construction of residential towers and civic amenities in New Delhi on TOD norms, EPC mode to NCC at their quoted price of Rs 859.84 crore.
Insecticides (India) reported a consolidated net profit of Rs 21.78 crore in Q4 FY21 as against a net loss of Rs 7.11 crore in Q4 FY20. Net sales during the quarter increased 7.1% year-on-year (YoY) to Rs 255.60 crore.
Centrum Capital said that the Reserve Bank of India (RBI) has issued an in-principle approval to Centrum Financial Services, the company's step-down subsidiary, to establish a small finance bank (SFB).
On a consolidated basis, Ashoka Buildcon reported 5.9% rise in net profit to Rs 142.46 crore on 9.6% increase in net sales to Rs 1735.57 crore in Q4 FY21 over Q4 FY20.
The board of UCO Bank will meet on 23 June 2021 to consider the proposal of raising Tier II Capital of upto Rs 500 crore.
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