RIL, Tech Mahindra, Biocon in focus

25 Oct 2022 , 08:41 AM

Reliance Industries (RIL): Reliance Jio Infocomm Limited (Jio) announced that it is introducing JioTrue5G-powered Wi-Fi services in high footfall areas such as Educational Institutes, Religious places, Railway Stations, Bus stands, Commercial Hubs and more. On a consolidated basis, the diversified conglomerates net profit fell 0.2% to Rs 13,656 crore on 37.3% increase in net revenue to Rs 230055 crore in Q2 September 2022 over Q2 September 2021. Meanwhile, the RIL board, at its meeting held on Friday, 21 October 2022, approved to demerge the companys financial services undertaking into Reliance Strategic Investments (RSIL). The financial services undertaking will be renamed Jio Financial Services Limited (JFSL). Shareholders will get one equity share of Jio Financial Services (JFS) for each RIL share held. Tech Mahindra: The company has entered into share subscription agreement to acquire 26% equity shares in Upendra Singh Multi Transmission Private Limited. The acquisition would enable the company to procure 1.5 MW of Solar Energy for its captive consumption at its facilities located in Noida, UP. Biocon: Biocon Biologics integrated insulins manufacturing facility in Malaysia is approved by the European Medicines Agency following a site inspection in July 2022. The Company has received the Certificate of GMP Compliance from the representative European inspection authority, Health Products Regulatory Authority (HPRA), Ireland. ICICI Bank: The private lenders standalone net profit surged 37.14% to Rs 7,557.84 crore on 19.43% rise in total income to Rs 31,087.91 crore in Q2 FY23 over Q2 FY22. Kotak Mahindra Bank: The private lender reported a 27% rise in standalone net profit to Rs 2,580.68 crore on a 19.48% increase in total income to Rs 10,047 crore in Q2 FY23 over Q2 FY22. Hindustan Unilever (HUL): The FMCG major reported 20% increase in standalone net profit to Rs 2,616 crore on a 16% rise in net sales to Rs 14,514 crore in Q2 FY23 over Q2 FY22. HUL delivered underlying volume growth of 4%. Growth was significantly ahead of the market with more than 75% of the business winning value and volume market shares. Infosys: The IT major announced it would be extending its Living Labs ecosystem to help Australian start-ups to advance their go to market. The launch event was hosted in the Infosys Living Lab in Melbourne in collaboration with its partner Telstra Ventures, a venture capital firm with over A$1.3 billion in assets under management that invests in market-leading, high growth technology companies globally. DLF: On a consolidated basis, net profit of DLF rose 25.88% to Rs 477.04 crore while sales declined 12.06% to Rs 1302.34 crore in Q2 September 2022 over Q2 September 2021. SJVN: The state-run power player said it will commission a 75 MW solar project at Kalpi in Uttar Pradesh by month-end. The project will generate 168.34 million units (MUs) in the 1st year and the projects cumulative energy generation over a period of 25 years would be about 3,919 MUs. This will help in annual enhancement of revenue to the tune of approximately Rs 45.11 crore. Powered by Capital Market – Live News