- Vodafone Idea: The company reported a reduced loss of ₹6,434 crore for the June 2024 quarter, down from ₹7,674 crore last year. Revenue slightly decreased to ₹10,508 crore from ₹10,606 crore. Vodafone Idea is negotiating with lenders for ₹35,000 crore in funding to expand its network. The company has 210 million subscribers, with 126.7 million using 4G.
- Hero MotoCorp: The world’s largest two-wheeler maker is set to release its earnings report for Q1 of FY25 on August 13. Analysts expect the company to show strong sales growth, with a projected 20% increase in revenue, reaching ₹10,520 crore.
- RVNL, Vodafone Idea, Dixon Technologies, Oil India, Oracle Financial, Prestige Estates, and Zydus Lifesciences: These seven companies will be added to the MSCI India Index in August. The changes will take effect on August 30, 2024. HDFC Bank will see an increase in its weightage in the MSCI indices, potentially bringing in $1.5 billion in investments.
- Wipro: Wipro’s Chief Technology Officer, Subha Tatavarti, has resigned, effective August 16. She joined Wipro in March 2021 from Walmart Inc. Wipro has not yet announced her replacement.
- Indian Railway Finance Corporation (IRFC): IRFC posted a 1.64% increase in net profits to ₹1,576.83 crore for Q1 of FY25. Revenue from operations grew slightly to ₹6,765.63 crore.
- Yes Bank: Sumitomo Mitsui Banking Corporation (SMBC) is in talks to buy a 51% stake in Yes Bank for around $5 billion. SMBC’s global CEO will meet with officials from the RBI and SBI to discuss the deal. SBI, which owns 23.99% of Yes Bank, has been looking to reduce its stake.
- Apollo Hospitals Enterprise: The company is expected to release its Q1 earnings on August 13, with a projected revenue increase of 15% to ₹5,072 crore and a net profit rise of 72% to ₹287 crore.
- Bharti Airtel: Airtel plans to acquire a 24.5% stake in British Telecom Group Plc through its subsidiary. The deal, worth around £3.2 billion, will be completed in two phases.
- National Mineral Development Corporation (NMDC): NMDC reported a 19% increase in net profit to ₹1,970.8 crore for the June quarter, with consolidated revenue flat at ₹5,414.2 crore.
- JSW Steel: The company plans to buy a controlling stake in an Australian mining company for $170 million to secure coking coal supplies.
- Housing and Urban Development Corporation (HUDCO): HUDCO posted a 25.2% increase in net profit to ₹557.8 crore and an 11.2% growth in net interest income.
- Orchid Pharma: The company reported a significant 212.2% increase in net profit to ₹29.4 crore, with revenue rising 33.6% to ₹244.4 crore.
- CreditAccess Grameen: The Dutch promoter of India’s largest microlender is looking to exit, seeking a valuation of around $2.7 billion for the company.
- Axis Bank: The Delhi High Court has ordered SEBI and RBI to speed up their investigation into alleged fraudulent practices by Axis Bank in dealings with Max Life Insurance.
- ITC: ITC signed a new property in Pushkar, Rajasthan, under its Welcomhotel brand, set to open in 2026.
- Hindustan Copper: The company reported a two-fold increase in net profit to ₹113.4 crore for the June quarter, with revenue rising to ₹500.44 crore.
- Zetwerk: The contract manufacturing marketplace appointed industry veteran Vinod Kumar Dasari to its board of directors.
- TVS Motor Company: TVS Motor allocated ₹2,200 crore for FY25, with half of the funds going towards capital expenditure and the rest for product development and marketing.
- Power Grid Corporation: The company won a transmission project in Rajasthan under competitive bidding.
- Berger Paints India: Berger Paints implemented three price hikes since June, aiming to double its turnover to ₹20,000 crore by 2029.
- Hindustan Copper: Hindustan Copper reported a 140% increase in net profit to ₹113.4 crore and a 33% growth in revenue to ₹493.6 crore.
- G R Infraprojects: The company received a contract for a transmission scheme in Karnataka, valued at ₹53.77 crore.
- KPI Green Energy: KPI Green Energy launched its Qualified Institutions Placement, with a floor price of ₹983.24 per share.
- Hindustan Zinc: The company clarified that any decision on a special dividend of ₹6,000 crore is up to the Board of Directors and has not yet been proposed.
- Aadhar Housing Finance: Aadhar Housing Finance plans to slow down business in certain states due to rising delinquencies and may add a private bank as a co-lending partner.
- Oberoi Realty: The National Company Law Tribunal approved Oberoi Realty’s resolution plan for Nirmal Lifestyle Realty. Oberoi will pay ₹230 crore to the firm’s creditors and will acquire 100% equity share capital of NLRPL.
- BEML: BEML plans to begin exporting Vande Bharat and metro trains next year, aiming to increase exports from 4% to 10%.
- 63 Moons Technologies: The company reported a loss of ₹11.5 crore and a 66.3% drop in revenue to ₹38.7 crore.
- Olectra Greentech: Olectra Greentech posted a 34.2% increase in net profit to ₹24.3 crore and a 45.3% rise in revenue to ₹313.9 crore.
- Camlin Fine Sciences: The company reported a loss of ₹34.7 crore and a 5.7% decline in revenue to ₹395.8 crore.
- Kotak Mahindra Bank: The bank’s subsidiaries, Sonata Finance and BSS Microfinance, approved a merger plan, subject to approval from shareholders, creditors, and the NCLT.
- Aditya Birla Sun Life AMC: The company’s CFO, Parag Joglekar, resigned effective September 13 to pursue other career opportunities.
- Asian Hotels (North): The company appointed Preeti Gandhi as chairperson and Krishna Kumar Acharya as an executive director, effective August 12.
- Marico: Marico’s manufacturing operations in Bangladesh have returned to normal, with market conditions improving and retail sales and distribution resuming.
- Saregama India: Amansa Holdings bought a 0.78% stake in Saregama India, while Hill Fort India Fund sold a 1.06% stake.
- SpiceJet: SpiceJet faces challenges as two French engine lessors rejected a collateral offer by the airline’s chairman. They demanded alternative arrangements within 15 days or the return of three engines.
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