RIL, SBI, Tata Steel, Shree Cement in focus

7 Feb 2022 , 08:56 AM

Reliance Industries (RIL): Jio Platforms announced an investment of US$15 million in Two Platforms Inc. (TWO), a Silicon Valley based deep tech startup founded by Pranav Mistry, for a 25% equity stake on a fully diluted basis. Jio Platforms is a majority-owned subsidiary of RIL.

SBI: The banking major reported 62.27% rise in net profit to Rs 8,432 crore on 4.41% rise in interest income to Rs 69,678 crore in Q3 FY22 over Q3 F21.

Tata Steel: The steel major reported consolidated net profit of Rs 9,598 crore in Q3 FY22 from net profit of Rs 4,011 crore in Q3 FY21. Turnover rose to Rs 60,783 crore from Rs 41,935 crore.

Shree Cement: The cement major reported a 23.6% fall in consolidated net profit to Rs 482.70 crore in Q3 FY22 from Rs 631.58 crore posted in Q3 FY21. Consolidated net sales grew 2.2% to Rs 3,637.11 crore in Q3 FY22 over Q3 FY21.

Godrej Properties: The realty firm said its board has decided not to proceed with a previously announced plan to invest in DB Realty. The decision was taken after the board took into consideration the feedback from the stakeholders and minority investors.

Bank of Baroda: The bank reported 107.17% rise in net profit to Rs 2197 crore on 14.38% rise in net interest income to Rs 8552 crore in Q3 FY22 over Q3 F21.

Siemens: Revenue from continuing operations in Q1 FY22 was Rs 3,197 crore, a 11.8 % increase over the same quarter in the preceding year. Profit after Tax from continuing operations was Rs. 245 crore, decreased by 6.5% over the same period last year.

FDC: The company has scheduled a board meeting on February 9 to consider the proposal for buyback of shares.

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