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RIL, Cipla, ITC in focus

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Reliance Industries (RIL) and Jio Platforms announced an investment of Rs 6,598.38 crore by General Atlantic, a leading global growth equity firm. 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. General Atlantic's investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.

Seperately, RIL informed that the rights issue committee of the board of directors, has approved issue opening date of 20 May 2020 and closing date of 3 June 2020.

ITC said the company has resumed operations at its factories and plant locations manufacturing non-essential items with limited workforce; the factories and plant locations manufacturing essential items continue to operate, as advised earlier. The company's hotels, however, continue to remain closed, except for those travellers who were stranded due to lockdown or for accommodating identified persons, based on the directions of the respective State Governments and local bodies.

Cipla's consolidated net profit fell 33.02% to Rs 245.95 crore on 0.67% fall in total income to Rs 4,469.37 crore in Q4 March 2020 over Q4 March 2019.

Cipla's board of directors approved raising funds upto Rs 3000 crores by issue of equity shares or American depository receipts or global depository receipts or foreign currency convertible bonds or other securities / financial instruments convertible into equity shares, whether denominated in Indian Rupee and/or foreign currency(ies), though a public issue or a private placement.

IIFL Securities' consolidated net profit fell 0.03% to Rs 37.27 crore on 2.71% fall in total income to Rs 209.84 crore in Q4 March 2020 over Q4 March 2019.

Nippon Life India Asset Management's consolidated net profit fell 97.54% to Rs 3.72 crore on 62.37% fall in total income to Rs 149.56 crore in Q4 March 2020 over Q4 March 2019.

Mahindra & Mahindra Financial Services' consolidated net profit fell 65.79% to Rs 234.82 crore on 8.05% rise in total income to Rs 3,148.47 crore in Q4 March 2020 over Q4 March 2019.

L&T Finance Holdings' consolidated net profit fell 29.48% to Rs 386.15 crore on 1.28% rise in total income to Rs 3,427.22 crore in Q4 March 2020 over Q4 March 2019.

Eveready Industries India said the company's battery manufacturing facility at Kolkata is partially operational in a gradual and phased manner.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 18 2020. 08:13 IST
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