Earnings today: Federal Bank, HCL Technologies, Bajaj Consumer Care, LKP Securities, Shoppers Stop, Tata Communications and Uniply are scheduled to announce their financial results for the September quarter on Friday.
IDBI Bank: The country’s largest institutional investor, Life Insurance Corporation of India (LIC), is willing to divest its stake in IDBI Bank, ET NOW reported, citing government sources.
Mindtree: IT company Mindtree posted an 87.9 percent increase in consolidated net profit to Rs 253.7 crore for the September 2020 quarter and said it was confident of continuing its growth momentum.
Lakshmi Vilas
Bank: The Board of Directors of
Lakshmi
Vilas
Bank (LVB) approved on Thursday the raising of funds of up to 500 million rupees by issuing equity shares or other securities by issuing rights.
Persistent systems: The company said it will acquire Palo Alto-based Capiot. Under the agreement, Persistent Systems Ltd India (PSL) will acquire 100 percent of the shares of Capiot Software, the Indian subsidiary of Capiot Software Inc and consequently, Capiot India will become a wholly owned subsidiary of PSL, according to a regulatory document.
Sterling and Wilson: Engineering firm Sterling and Wilson said it has signed a contract to build a hybrid photovoltaic solar battery storage power plant and diesel generator set in Niger, West Africa.
LIC housing financing: Following “a much higher than expected recovery in demand since the last two months,” India’s second-largest mortgage lender, LIC Housing Finance, expects an extraordinary festival season as it expects loan growth to be two digits. according to a PTI report.
Cyient: IT company Cyient reported a 14.8 percent decrease in its consolidated net profit to Rs 83.9 crore for the September 2020 quarter.
Bank of South India: The lender reported a 23 percent decrease in net earnings to Rs 65.09 crore for the September quarter of the current fiscal year. The bank had posted a net profit of Rs 84.48 crore in July-September 2019-20. In the previous June quarter, South Indian Bank made a profit of Rs 81.65 crore.
AstraZeneca Pharma: Pharmaceutical firm AstraZeneca Pharma India said it will launch its 100mg Acalabrutinib capsules, used for the treatment of various types of blood cancers, under the ‘Calquence’ brand in the country on October 21.
Hero Motocorp: Two-wheeler market leader Hero Motocorp said it has launched its new Pleasure + Platinum scooter model, priced at Rs 60,950 (ex-Delhi showroom).
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