Piramal Enterprises: The company announced its decision to merge with its unlisted subsidiary Piramal Capital & Housing Finance, thus avoiding a mandatory public share sale by the unlisted arm. The merger is expected to be completed in nine to 12 months.
Bank of Baroda: The RBI lifted restrictions on Bank of Baroda (BoB), allowing the bank to onboard customers to its mobile banking app, bob World.
Tata Power: The company’s Q4 net profit rose by 15% to ₹895 crore, driven by strong energy demand due to heatwaves and increased economic activity in India. The company’s transmission and distribution segment, its primary revenue source, grew 8.80% to ₹9,025 crore. Overall, revenue from operations climbed 27% to ₹15,847 crore. Tata Power plans to increase its capital expenditure to ₹20,000 crore for FY 2024-25.
Hero Motocorp: The company reported an 18% YoY increase in its standalone net profit at ₹1,016 crore. The company also declared a final dividend at 2,000%, that is ₹40/- per share for FY24.
TVS Motor: The company’s Q4 net profit increased by 18% YoY to ₹485 crore, with a 24% increase in revenue from operations, reaching ₹8,169 crores. The company’s operating EBITDA for the year improved by 100 basis points, reaching 11.1% compared to the previous year.
BSE: The company reported a 20.7% YoY jump in consolidated net profit at ₹106.9 crore for Q4. The company’s consolidated revenue from operations surged 110.04% to ₹544.8 crore.
HDFC Life: The Insurance Regulatory and Development Authority (IRDAI) approved the appointment of Keki Mistry as chairman of HDFC Life.
Godrej Agrovet: The company reported a threefold YoY jump in net profit at ₹65.5 crore for Q4. The company’s revenue from operations increased 1.9% to ₹2,134.3 crore.
NBCC (India): The company secured projects worth ₹400 crore. The projects include the development of Amrapali Vananchal City in Bhilai, Chhattisgarh, and Amrapali Cosmos in Aluva, Ernakulam district of Kerala.
Kirloskar Oil Engines: The company reported a 26% growth in standalone net profit to ₹128 crore in Q4. The company’s net sales rose 21% to ₹1,378 crore.
Gujarat State Petronet: The company reported a 22.2% YoY increase in net profit at ₹663.1 crore for Q4. The company’s revenue from operations increased 5.9% to ₹4,522.2 crore.
Asahi India Glass: Inox Air Products signed a 20-year agreement with Asahi India Glass (AIS) to supply green hydrogen to the glass maker’s greenfield float glass facility in Chittorgarh, Rajasthan.
ABB India: The company is expected to report a 15-18% on-year increase in quarterly revenue to around ₹2,845.2 crore. The company’s net profit is expected to rise by 22-33% from a year ago. The company will report its Q4FY24 results on Thursday, May 9.
Delta Corp: The company is setting up a real estate development platform for residential redevelopment in the Mumbai Metropolitan Region (MMR), along with plotted development in and around MMR, Alibagh, Khopoli, Karjat and Pune. The platform will be set up in partnership with Alpha Alternatives Fund Advisors LLP and affiliates (AA group) along with Peninsula Land, with an investment of ₹765 crore.
Axis Bank: Axis Bank is looking to hire Asian expatriates to help win business from multinational companies. The bank is targeting mid-sized companies in this area, the fastest-growing business in its corporate banking division.
Mahindra & Mahindra: The National Company Law Tribunal’s Mumbai bench has approved the merger of Mahindra Heavy Engines (MHEL), Mahindra Two Wheelers (MTWL), and Trringo.com (TCL) with Mahindra and Mahindra.
India Shelter Finance Corporation: The company reported a 47% jump in March quarter net profit to ₹78 crore, backed by 40% business expansion. The company’s assets under management rose to ₹6084 crore at the end of March.
Navneet Education: The company has signed an agreement with Venturi Partners to divest a 5.12% stake in K12 Techno Services for ₹225.2 crore. Navneet Learning LLP, a subsidiary of Navneet Education, will retain a significant 14.35% stake in K12 Techno Services.
ESAF Small Finance Bank: The bank reported a 57.2% YoY dip in net profit at ₹43.4 crore for Q4. The bank’s net interest income increased 18.4%, and gross non-performing assets stood at 4.76%.
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Published: 09 May 2024, 08:09 AM IST
