The oil-to-telecom behemoth is slated to announce its June quarter results later in the day. The company's retail and energy verticals expect a dent in earnings in the June quarter (Q1), because of the pandemic. However, higher earnings in the telecom business may partly cushion the hit.
The housing finance company is scheduled to report its June quarter earnings (Q1FY21) today. Analysts at Emkay Global expect HDFC’s loan growth to be around 5 per cent, mainly due to continued disbursements for approved sanctions in the retail book. They peg the housing financier’s net interest income (NII) to come in at Rs 5,002.5 crore for the recently concluded quarter, up 64 per cent YoY, from Rs 3,042 crore reported in the June quarter of FY20. READ MORE
Besides RIL and HDFC, 401 other companies are also scheduled to announce their quarterly numbers today. The list includes names such as Ajanta Pharma, Dabur India, GMR Infra, GPL, and Laurus Labs.
Bharti Airtel: The telecom major on Wednesday reported a 15.4 per cent rise in first-quarter revenue as customers consumed more data during the coronavirus crisis, even at higher rates.
India’s largest airline IndiGo on Wednesday said it expected to increase capacity by 40 per cent in the September quarter (Q2) and, by the December quarter, it wants to be able to deploy 60 per cent of the capacity it operated during the same period last year. READ MORE
Manappuram Finance: Net profit of Manappuram Finance rose 39.21 per cent to Rs 368.11 crore in the quarter ended June 2020 as against Rs 264.43 crore during the previous quarter ended June 2019.
TVS Motor Company on Wednesday reported a standalone net loss of Rs 139.1 crore for the first quarter ended June 30, with Covid-19 severely impacting sales during the period. The company had posted a profit after tax of Rs 142.3 crore for April-June, 2019-20.
ICICI Lombard General Insurance: has initiated talks to acquire Bharti Enterprises backed Bharti AXA General Insurance in all-stock transactions, according to sources. Bharti Enterprises currently owns 51 per cent stake in Bharti AXA General Insurance, while French insurer AXA has 49 per cent.
The government has for the third time extended the deadline for bidding for the privatisation of India's second-biggest oil refiner Bharat Petroleum Corp Ltd (BPCL) by two months to September 30.
ONGC: The company has approved the offer and issuance on Wednesday of up to 5,000 unsecured, redeemable, non-cumulative, taxable, non-convertible debentures ("NCD") of face value of Rs 10,00,000 at par aggregating to a total issue size of up to Rs 500 Crore on private placement basis to identified investors at the interest rate of 5.25 per cent p.a. payable annually.
Net profit of the company rose 38.96 per cent to Rs 33.99 crore in the quarter ended June 2020 as against Rs 24.46 crore in the year-ago period. Sales declined 23.40 per cent to Rs 194.85 crore.
Net profit of Navin Fluorine International
rose 29.88 per cent YoY to Rs 56.03 crore. Sales declined 14.55 per cent to Rs 214.95 crore.