Tata Motors: Tata Motors announced that the Company has decided to withdraw the issue for private placement of unsecured NCDs aggregating up to Rs 1000 crore in view of the higher cost expectations from the market participants due to the tight money market conditions.
Earnings today: As many as 13 firms, including Adani Gas, Reliance Home Finance, Reliance Power, Reliance Infra and SBI Cards, are slated to report their March quarter results later in the day.
Private sector lender RBL Bank on Thursday reported a 58 per cent decline in pre-tax profit for the quarter ending March, 2020 on account of higher provisioning for bad loans and Covid-19. In Q4FY20, the bank’s pre-tax profit stood at Rs 151 crore compared to Rs 360 crore in Q4FY19. The net profit of the bank also declined 54 per cent to Rs 114.36 crore from Rs 247.18 crore. READ MORE
SKF India: The company announced that the board of directors of the company has recommended a special dividend of Rs 130 per share for the financial year ended 31 March 2020.
The auditor of YES Bank has pointed out multiple breaches of the Reserve Bank of India’s (RBI’s) norms and loan covenants by the private bank in the financial year ended March 2020, warning that these may impact the bank’s ability to continue as a going concern.
Net profit of Cyient declined 74.41 per cent to Rs 45.20 crore in the quarter ended March 2020 as against Rs 176.60 crore during the previous quarter ended March 2019.
: Net profit of ICICI Securities rose 28.26 per cent to Rs 155.88 crore in the quarter ended March 2020 as against Rs 121.53 crore during the previous quarter ended March 2019. Sales rose 17.73 per cent to Rs 480.44 crore in the quarter ended March 2020 as against Rs 408.10 crore during the previous quarter ended March 2019.