Real Estate: Govt provided an extension of 6 months in registration and completion date of real estate projects under RERA.
Earnings today: As many as 18 companies are slated to release their March quarter results later in the day. The list includes names such as Biocon, Escorts, Tata Consumer Products, Indiabulls Real Estate, Manappuram Finance, and Aavas Financiers.
Finance Minister Nirmala Sitharaman on Wednesday announced a special liquidity infusion scheme for the ailing power distribution sector, through which it is looking to infuse around Rs 90,000 crore in the distribution companies (discoms). READ MORE
REC: State-owned REC on Wednesday said it has raised USD 500 million (around Rs 3,773 crore) through issuance of overseas bonds. This is the first ever overseas bond issue by an Indian company since the COVID-19 crisis, according to deal advisors.
Infosys on Wednesday said it has partnered with NICE Actimize that will allow the Indian IT services major to offer its delivery capabilities and resell the latter's end-to-end financial crime software solutions. NICE Actimize offers autonomous financial crime management solutions.
Maruti: Maruti Suzuki India (MSI) on Wednesday said its board has approved supply of a derivative of compact SUV Vitara Brezza to Toyota Kirloskar Motor which will then sell the vehicle under its own brand name. Further, in an exchange filing, the company informed that it has approved acquisition of 39.13 per cent equity stake from Sumitomo Corporation, Japan and 10 per cent equity stake from Sumitomo Corporation India Private Limited held in J.J. Impex (Delhi) Private Limited.
Godrej Consumer (GCPL): The company on Wednesday reported a 48 per cent drop in profit before tax (PBT) for the quarter ended March 31 to Rs 337.39 crore.This follows an adjustment of one-time expenses to the tune of Rs 73.43 crore in the quarter. Revenue for the period fell nearly 14 per cent to Rs 2,153 crore.
reported 44.37% drop in net profit to Rs 64.64 crore on 14.33% fall in total income to Rs 1,624.81 crore in Q1 March 2020 over Q1 March 2019.
Future Consumer: The company, in an exchange filing, said on Wednesday that its board will meet on May 16 to consider rights issue of euity shares.
Mphasis: Net profit of the company rose 32.72% to Rs 353.23 crore in the quarter ended March 2020 as against Rs 266.15 crore in the year-ago period. Sales rose 15.86% to Rs 2346.15 crore.
PNC Infratech: PNC Infratech Limited has been declared as the L1 (lowest) bidder for a NHAI Project of 53.95 km long Four-laning of Meerut - Nazibabad section of NH-119 (New NH-34) from design chainage Km 11+500 (Meerut) to 39.250 (Behsuma) and from km 79.500 (Bijnor) to 105.700 (Jalalabad), in Uttar Pradesh under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM) for Rs 1,412.0 crore.