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HDFC Bank has posted a net profit of ₹16,512 crore for Q4, higher by 37.1per cent on year but up less than 1 per cent sequentially. The results for Q4 and FY24 include the impact of the merger of erstwhile HDFC with the bank effective July 2023. Net revenue grew 47.3 per cent on year to ₹47,240 crore and included gains of ₹7,340 crore from the stake sale in subsidiary HDFC Credila Financial. As a result, the bank saw net trading and mark-to-market gains of ₹7,590 crore in Q4 against a loss of ₹40 crore in the year-ago period. Total other income for the quarter was up 108 per cent on year at ₹18,170 crore.
An arbitrator has rejected broadband technology company Sterlite Technologies’ claims worth ₹145 crore against BSNL in an optical fibre cable laying project, a regulatory filing said on Friday. Sterlite Technologies (STL) said that it is evaluating options to challenge the award of the arbitrator.
Hero Motocorp has opened an assembly facility in Nepal in partnership with its distributor CG Motors. The facility will have a capacity of 75,000 units per annum and will bring new investments and create job opportunities in the region, Hero MotoCorp said in a statement. Four products - - Xpulse 200 4V, Super Splendor, Splendor+ motorcycles and Xoom 110 scooter -- which have been launched in the country - - will be assembled locally at the new assembly facility located in CG Industrial Park in Nawalparasi, it added.
Aditya Birla group company UltraTech Cement has announced the acquisition of a grinding unit having installed capacity of 1.1 million tonnes per annum in addition to a captive railway siding at Parli, Maharashtra, from India Cements for ₹315 crore. The company said it will invest an additional ₹504 crore to expand capacity of two units.
The board of Aditya BIrla Fashion has approved demerger of Madura Fashion & Lifestyle into newly incorporated Aditya Birla Lifestyle Brands. ABLBL will be listed separately on completion of the merger. Aditya Birla Fashion shareholders will get one new share of the demerged entity for every one share held of ABFRL. Post demerger, ABFRL will raise up to ₹2,500 crore within a 12-month period.
JSW Energy’s subsidiary JSW Neo Energy has received a letter of award from NTPC for setting up a 700 MW solar project. With the latest project win, JSW Energy’s total locked-in generation capacity has increased to 13.3 GW of which 3.1 GW is solar power, a BSE filing said.
Oberoi Realty’s sales bookings have declined 53 per cent to ₹4,007 crore in the last financial year. The sales bookings of Mumbai-based Oberoi Realty stood at ₹8,572 crore in the 2022-23 financial year and ₹3,889 crore in the 2021-22. Oberoi Realty informed bourses that it had sold 228 units worth ₹1,775 crore in the fourth quarter of the last fiscal year. It sold 4.49 lakh square feet of carpet area.
Sterling & Wilson Renewable Energy has posted a net profit of ₹1.40 crore during the quarter ended March 2024 on account of increased income. It had reported a net loss of ₹421.11 crore in the January-March period of preceding 2022-23 financial year. For the whole FY24, the company reported narrowing of its net loss to ₹210.79 crore from ₹1,174.96 crore net loss recorded in FY23.
The board of Honasa Consumer, which owns Mamaearth brand, has approved the amalgamation of its subsidiaries Fusion Cosmeceutics and Just4Kids with the company. Fusion Cosmeceutics is primarily engaged in formulation and trading of skin care products and Just4Kids Services is engaged in the operation and maintenance of a multilingual content platform.
State-owned IREDA has posted a 33 per cent rise in its net profit to ₹337.37 crore for the quarter ended March 2024, aided by higher income. It had clocked ₹253.61 crore net profit in the January-March quarter of FY23, the company said in an exchange filing. The company’s total income surged to ₹1,391.63 crore (₹1,036.31 crore). The company also said it has achieved an all-time high annual profit after tax (PAT) of ₹1,252.23 crore, a growth of 44.83 per cent over ₹864.62 crore in 2022-23.
The board of Bhansali Engineering Polymers took note of the proposed enhancement of production Capacity of ABS from 75,000 tpa to 2,00,000 tpa (earlier 1,45,000 tpa) at company’s existing plants at Rajasthan and Madhya Pradesh. The board has approved appointment of Toyo Engineering India Private Limited as Engineering Consultant for front- end engineering design) and Capex Estimation. The expansion will be funded through internal accruals and likely to be implemented by March 2026.
Chemtech Industrial Valves has successfully Manufactured & Supplied DN 2400 MM GOGGLE Valve to a Leading Copper Plant in India. This critical goggle valve has been manufactured in Stainless Steel Material Grade with Inconel Bellows. The Valve is Designed & Manufactured for handling a Very Toxic & Corrosive Application which includes Sulfur Dioxide & Sulfur Trioxide Fumes.
Lupin Ltd (Lupin) has announced the launch of Mirabegron Extended-Release Tablets, 25 mg, in the United States, after having received an approval from the United States Food and Drug Administration (USFDS).
Biocon has received approval from the South African Health Products Regulatory Authority (SAHPRA), for our vertically integrated, complex drug product Tacrolimus capsule 0.5mg, 1mg and 5mg strengths, in South Africa. This is the Company’s first approval in this Country. Tacrolimus, a calcineurin inhibitor, is an immunosuppressant used in the treatment of organ transplant patients, which reduces the body’s ability to reject a transplanted organ. It has been particularly effective in treating patients of renal transplant for more than two decades.
KPIT Technologies has acquired balance stake in PathPartner. Accordingly, PathPartner has become a wholly owned subsidiary of the Company.
Sentynl Therapeutics, Inc, wholly owned subsidiary of Zydus Lifesciences, has received marketing authorisation from the UK Medicines and Healthcare products Regulatory Agency for Nulibry (fosdenopterin) for Injection as the first therapy for the treatment of patients in Great Britain (GB) with Molybdenum Cofactor Deficiency (MoCD) Type A. This is an ultra-rare, life-threatening genetic disorder that often progresses rapidly in infants.
The board of Rathi Steel and Power Limited has approved the availment of total Credit facility of ₹43.50 crore from Kotak Mahindra Bank as per Sanction Letter.
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