Wipro announced in line with expected Q3 results. The company reported Q3 Net profit of Rs 3052.9cr (up 2.8% QoQ) – expectation of Rs 2800cr, Ebitda of Rs 4278.1cr (up 5.8% QoQ) – expectation of Rs 4400cr, Income of Rs 23229cr (up 3.06% QoQ) – expectation Rs 23200cr, Dollar revenue $2803.5mn – expectation $2808mn, Ebit Margin at 16.3% vs 15.4% - expectation 14.6%. The company sees FY23 sales growing 11.5-12%
HDFC Bank announced inline with expected Q3 results. The company reported Q3 NII Rs 22987cr (up 25% YoY) – Expectation Rs 22720 cr, Net Profit Rs 12259.5cr (up 19% YoY) – expectation Rs 12310 cr, GNPA 1.23% vs 1.23% (QoQ) – expectation 1.2%, NPA 0.33% vs 0.3% (QoQ) – expectation 0.3%, Operating profit Rs 19020 cr (up 13.4% YoY) – expectation Rs 19,470 cr, Provision Rs 2,806 cr (up 6.2% YoY) – expectation Rs 3040 cr and Loan growth at 19.5% vs 23.4% (QoQ) – expectation 19.5%.
D-Mart announced lower-than-expected Ebitda, topline, and Ebitda margin. The company reported Q3 Net profit of Rs 590cr (up 6.7% YoY) – the expectation of Rs 720cr, Income of Rs 11569 cr (up 25.5% YoY) – the expectation of Rs 12290cr, Ebitda of Rs 965cr (up 11.4% YoY) – expectation Rs 1130cr and Ebitda margin at 8.34% vs 9.4% (YoY)- expectation 9.2%
L&T Finance Q3 net profit Rs454cr (up 39% YoY) – expectation Rs412cr, NII Rs 1932cr (up 23.5% YoY) – expectation Rs 1685cr, NIM at 8.80 vs 8.10% (YoY), company reported highest ever quarterly disbursement Rs 11607cr (up 53% YoY).
Board has approved the amalgamation of L&T Finance Limited, L&T Infra Credit Limited and L&T Mutual Fund Trustee Limited, with the Company, by way of merger, subject to the sanction of the National Company Law Tribunal (NCLT) and other regulatory approvals, as may be required.
Tata Motors: The company has filed Form 25 with the Securities and Exchange Commission (SEC), USA, for termination of its American Depositary Share Program. SEC Form 25 is the document filed by a company to delist its securities.
Delhivery: The logistics company has completed the acquisition of Algorithm Tech. With this, Algorhythm has become a wholly owned subsidiary of the company w.e.f. January 13, 2023.
Dr Reddy buys India rights for the breast cancer drug Primcyv. Company to sell in-house Primcyv in India at 85% in India
L&T and H2Carrier will design and fabricate the topside process and utility modules to produce green hydrogen and green ammonia for industrial-scale applications. L&T will become a partner for the engineering, procurement, construction, installation and commissioning of the topsides for H2C’s floating process plants.
Mahindra Lifespaces has acquired a 4.25-acre land parcel with a development value of Rs 400 crore in Bengaluru. The land is estimated to have a developable potential of 4.6 lakh square feet of saleable area.
Godrej Properties - Company acquired a 60-acre land parcel in Chennai The 60 acre-land will have a developable potential of approximately 1.6 million square of saleable area, comprising primarily of residential plotted development.