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HDFC Bank, SBI, M&M, Dmart, Bandhan Bank, LTIMindtree to remain in focus As on : 17-Jul-23  08:39

HDFC Bank, LTIMindtree, Crisil, Hathway Cable and Datacom, Tata Elxsi, Huhtamaki India, Moschip Technologies, Onward Technologies, Tanfac Industries and Tinplate Company of India are some of the companies that will announce their quarterly earnings today.

HDFC Bank has allotted 3,11,03,96,492 new equity shares of Rs. 1 each of HDFC Bank according to the share exchange ratio of 42 shares of HDFC Bank for every 25 shares of HDFC Ltd. The bank's paid-up share capital will increase from Rs. 559.17 crore to Rs. 753.75 crore post cancellation of promoter holding of 116.46 crore equity shares. HDFC Bank is a now publicly held company following the merger with no clear promoter.

State Bank of India has raised MCLR by 5 bps across tenors. The hike is effective from July 15. The Central Government nominated Ajay Kumar, Executive Director, Reserve Bank of India as director on the Central Board of State Bank of India with immediate effect and until further orders.

Mahindra & Mahindra has signed a memorandum of understanding with NXP Semiconductors to jointly explore the electric and connected vehicle landscape, covering a wide range of vehicles including utility vehicles, light commercial vehicles, farm equipment, and tractors.

Nestle India has received Odisha state government's approval to set up food processing unit at Mundaamba, Khordha district. It plans an investment of about Rs 894.10 crore.

Avenue Supermarts (Dmart) reported 2.46% increase in consolidated net profit to Rs 658.75 in Q1 FY24 as compared with Rs 642.93 crore in Q1 FY23. Revenue from operations jumped 18.2% to Rs 11,865.44 crore in Q1 FY24 as against Rs10,038.07 crore posted in same quarter last year.

Bandhan Bank recorded 18.7% fall in net profit to Rs 721.05 crore in Q1 FY24 from Rs 886.50 crore in Q1 FY24. Total income during the period under review rose by 1.1% YoY to Rs 4,908.03 crore. Of this, net interest income was Rs 2,490.62 crore (down 0.9% YoY) and non-interest income was Rs 385.12 crore (up 16.8% YoY).

JSW Energy announced that its consolidated net profit declined 48.3% to Rs 289.88 crore in Q1 FY24 as compared with Rs 560.43 in Q1 FY23. Revenue from operations fell 3.3% to Rs 2,927.85 crore in Q1 FY24 as compared with Rs 3,026.27 crore posted in corresponding quarter last year, as the incremental revenue from Mytrah and renewable capacity additions was offset by lower realization in thermal assets on account of decline in coal prices.

Tata Steel Long Products reported a consolidated net loss of Rs 239.16 crore in Q1 FY24 as against a net loss of Rs 331.09 crore in Q1 FY23. Net sales during the quarter increased by 78.9% to Rs 3568.24 crore from Rs 1994.25 crore recorded in the same period last year.

CCL Products reported 7.3% fall in consolidated net profit to Rs 28.51 crore despite an 8.4% increase in net sales to Rs 361.79 crore in Q1 FY24 over Q1 FY23.

Just Dial reported standalone net profit of Rs 83.40 crore in Q1 FY24 as compared with net loss of Rs 48.35 crore posted in corresponding quarter last year. Net sales jumped 33.1% to Rs 246.98 crore in Q1 FY24 as compared with Rs 185.60 crore in Q1 FY23.

Happiest Minds Technologies successfully concluded its qualified institutions placement (QIP) of equity shares. The QIP, which commenced on 11 July 2023, concluded on 14 July 2023, with a total of 54,11,255 equity shares being allotted. The shares were priced at Rs 924 per share, resulting in an issue size of Rs 500 crore.

CG Power and Industrial Solutions, a leading power and industrial solutions company, has announced the sale of its wholly owned subsidiary, QEI Inc., USA. The buyer, QEI Buyer LLC, a Delaware Limited Liability Company based in the USA, has acquired all the assets of QEI Inc. for a total consideration of $10.50 million.

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