Adani Ports: The company's net profit for the March quarter jumped fourfold to Rs 1,287 crore from Rs 334 crore a year ago but fell short of the Rs 1,465 crore consensus forecast of analysts tracked by Bloomberg. In other news, the company said US-based counsels are of opinion that its investment in a port in Myanmar are not in violation of law, but the firm will abandon the project if the US administration opines that the investment was in violation of sanctions against Military-ruled nation.
Airtel, RIL, VIL, MTNL: Bharti Airtel, Reliance Jio, Vodafone Idea and MTNL have been allowed to conduct 5G trials for six months, including two months for procuring and setting up equipment, the Department of Telecommunications said.
IndiGo: The airline is in talks to raise fresh funds as the second wave of the pandemic has led to a collapse in travel demand. The airline may look to raise Rs 3,500-4,000 crore, a BS report said.
RBL Bank: The private sector lender on Tuesday reported a 34 per cent decline in its March quarter profit to Rs 75 crore compared to Rs 114 crore in the year-ago period due to provisioning for possible loan losses that it sees in the retail unsecured segments.
L&T Infotech: The IT services arm from the L&T conglomerate reported a net profit of Rs 545.7 crore for the fourth quarter ended March 31, 2021, up 27.6 per cent year-on-year (YoY) and up 5 per cent sequentially. Revenue for the Q4 FY21 grew 8.5 per cent at Rs 3,269.4 crore on a YoY basis.
Hindustan Aeronautics (HAL):
The company and Rolls-Royce have signed MoU to establish packaging, installation, marketing and services support for Rolls-Royce MT30 marine engines in India.
IIFL Securities: The firm reported an over two-fold increase in profit after tax to Rs 77.6 crore for the three months ended March 2021. In comparison, the company had posted a profit after tax (PAT) of Rs 37.2 crore in the same quarter preceding fiscal.
JSW Energy: Fitch Ratings has assigned JSW Hydro Energy's proposed US-dollar senior secured notes an expected rating of 'BB+(EXP)' with a stable outlook. JSW Hydro Energy is a wholly-owned subsidiary of JSW Energy.
Adani Total Gas: The company reported a 19 per cent YoY rise in its March quarter net profit as the firm expanded operations in newer geographies, resulting in higher sales volumes. Net profit in the January-March quarter of FY21 was Rs 145 crore compared to Rs 122 crore in the same period of the previous fiscal.
Satin Creditcare: Satin Creditcare Network (SCNL) on Tuesday said it has received a senior loan facility of USD 5 million from Oesterreichische Entwicklungsbank – OeEB, Austria, through external commercial borrowing route.
SBI Card: The company plans to raise up to Rs Rs 455 crore via NCD issue.
Wipro: The IT services major announced the setting up of an Innovation Centre in Holborn, London. The Bengaluru-headquartered company said it will invest GBP rpt GBP 16 million over the next four years in the 20,000 sq.ft.
HDFC: The company said it sold part of pledged shares in Reliance Infrastructure. The company sold 52.88 lakh shares, representing 2.01 per cent of the share capital, of Reliance Infra for Rs 22.86 crore between March 24 and May 3.
Greaves Cotton: The company reported a higher consolidated profit of Rs 13.65 crore in Q4 FY21 against Rs 0.55 crore in Q4 FY20.
Affle (India): The company's Fund Raising Committee closed its QIB issue on May 4 and approved the issue price at Rs 5,200 per share, for 11,53,845 equity shares to be allotted to the eligible qualified institutional buyers.
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