Infosys: Infosys Q1FY21 was a positive surprise on multiple levels, importantly Infosys resumed annual guidance. The management guided FY 21 revenue growth guidance in the range of 0%-2% in constant currency and operating margin for FY21 is seen in the range of 21%-23%. Deal wins and free cash flow generation was healthy. Q1 saw large deal wins of $1.74 bn.
Larsen & Turbo Infotech (L&T): The company posted a 17.06% growth in its June quarter net profit at ₹416.4 crores. LTI’s overall revenues rose to ₹3,015 crores from the year-ago period’s ₹2,586 crores but were marginally down as compared to the preceding March quarter’s ₹3,082 crores.
Cochin Shipyard: The country’s biggest business shipbuilder Cochin Shipyard Limited has signed contracts for building and furnishing two self-reliant electric-powered ferries to Norway-based ASKO Maritime, with a choice to construct two extra same vessels.
GAIL, Power Grid: The Department of Telecommunications (DoT) has withdrawn its demand notices asking state-owned Power Grid Corp of India Ltd and GAIL to clear license fees including interest and penalty for the financial years 2006-07 to 2018-19. The license fee is part of the adjusted gross revenue levies calculated by the DoT and payable by operators.
State Bank of India:
The board of the financial institution has accredited elevating Additional Tier 1 (AT1) capital to a quantity of ₹4,000crore and sparkling Tier two capital of up to ₹10,000 crores. SBI will redeem current Tier two capital bonds of ₹11,015 crores having all name dates all through FY21 and changing the identical by way of sparkling Tier two capital bonds of the equal amount. This will be over and above the ₹10,000 crore Tier two capital raising.
SBI Cards and Payment Services: The credit card arm of India’s largest public sector bank is looking to raise funds by issuance of non-convertible debentures aggregating to ₹1,500 crores in one or more tranches over a period of time.
Manappuram Finance: The company expects to maintain profitability in the gold loan business amid the coronavirus pandemic, though vehicle finance, small business, and housing finance verticals may be impacted, it said in a business update to the stock exchanges.
Yes Bank: The ₹15,000 crores follow-on public provide (FPO) of Yes Bank Ltd got subscribed 24% on Wednesday, the first day of the offering. While the element of shares reserved for institutional buyers was once subscribed to 66%, the non-Institutional element used to be subscribed to 4%. Retail element used to be subscribed 9% instances and that for personnel used to be subscribed 5%.
Minda Corporation: Auto aspects maker Minda Corporation Ltd stated a consolidated loss after tax of ₹299.77 crores in the fourth quarter ended 31 March, on account of impairment expenses of one of its hands that have filed for insolvency. The corporation had posted a consolidated income after tax of ₹41.92 crores in the corresponding length of the preceding economic year.
Indiabulls Real Estate: Bengaluru-based
realty association Embassy Group has proposed to merge round eleven actual
property initiatives comprising almost 62 million sq feet place with Indiabulls
Real Estate Ltd and operate on the merged entity.