- Godrej Consumer Products: The company expects to deliver high single-digit sales growth with another quarter of double-digit 2-year CAGR during July-September quarter. It expects operating margins to contract during the quarter driven by a lag between the rise in input costs and increase in end consumer pricing. India sales growth expected to be in double-digit during the second quarter, driven largely by volume growth and calibrated price increases.
- Marico: The company expects modest profit growth, margin contraction in July-September quarter. Revenue growth was in low twenties as consumer sentiment was healthy across categories. India volume growth was close to double-digits on a 2-year CAGR basis. International business delivered double-digit constant currency growth, helped by positive trends in all markets but Vietnam.
- Coal India: The company’s board has accorded in-principle approval to pre-feasibility report for setting up integrated greenfield aluminium project in Odisha and associated captive power plant by its subsidiary Mahanadi Coalfields.
- Central Bank of India has entered into a co-lending partnership with IIFL Home Finance.
- Phillips Carbon Black: The company closed its qualified institutional placement issue and raised Rs 400 crore by issuing over 1.63 crore equity shares to 20 qualified institutional buyers at Rs 244 per equity share.
- Force Motors: The company’s total production in September stood at 2,159 units. It reported domestic sales of 1,968 units and exports of 272 units.
- Canara Bank: The bank has reduced overnight and one-month MCLR by 0.15% and three-month, six-month and one-year MCLR by 0.10%.
- Future Retail: The Master Franchise agreement executed between Future7-India Convenience, 7-Eleven INC, Future Corporate Resources and the company–for developing and operating 7-Eleven stores within India– has been mutually terminated. The Future-7 was not able to meet the target of opening stores and payment of franchisee fees.
- MTAR Technologies: CRISIL Ratings has upgraded long-term rating of company’s bank facilities to A-/Stable from BBB+/Positive and short-term rating to A2+ from A2.
- Raymond: Raymond Realty seeks to expand operations via joint development route
- Glenmark Pharma: Confirms recall of some products in U.S.
Exclusive News : India Plans To Allow 20% Foreign Direct Investment In LIC
Bharti Airtel: Bharti Airtel on Tuesday informed the stock exchanges that it has conducted India’s first 5G trial in Bhaipur Bramanan village, located on the outskirts of Delhi-NCR region. Its rights entitlements (REs) were locked in the 40% upper circuit at ₹204.50 on the BSE on Tuesday, the first day of listing.
#NMDC: State-run mineral producer NMDC has fixed new, increased prices for ore. The company has set lump ore prices at ₹5,950 per tonne and fines prices at ₹4,760 per tonne.
Axis Bank on Tuesday said it has become the first Indian private sector bank to arrange a term Secured Overnight Financing Rate (SOFR) linked trade financing deal, joining a select group of banks and financial institutions globally who have executed similar transactions.