Stocks to watch: Bank of Maharashtra, Heidelberg Cement, Reliance, NTPC

Bank Of MaharashtraState-run Bank of Maharashtra on Monday reported a more than two-fold increase in net profit 452 crore in the April-June quarter, helped by a healthy net interest income and improved asset quality. The lender had reported a net profit 208 crore on a standalone basis in the same quarter of FY 2022. Net interest income (NII) up 20 percent 1,686 crore as compared to 1,406 crore in Q1 of FY22.

Heidelberg Cement IndiaHeidelberg Cement India reported 24.82 per cent fall in net profit on Monday 51.61 crore for the June quarter 2022-23, impacted by increase in operating costs. The company had recorded a net profit of 68.65 crore in the April-June period a year ago, Heidelberg Cement said in a BSE filing. However, revenue from operations increased by 6.10 per cent. 589.89 crore during the quarter under review from 555.94 crore in the year-ago period.

Reliance Industries: Arm Reliance Jio Infocomm has put 14,000 crore as Earnest Money Deposit (EMD), more than half of the amount deposited by bidders for 5G spectrum auction, official data showed on Monday. The second largest amount as EMD is levied by Bharti Airtel Ltd. 5,500 crore. The EMD amount of Adani Data Networks is 100 crores as per the data released by the Department of Telecommunications.

NTPCState-owned power company NTPC and IndianOil have entered into an agreement to form a joint venture firm to meet the power requirements of the oil major’s upcoming projects. NTPC and IndianOil signed a joint venture company agreement to meet the power requirements of upcoming projects of IndianOil refineries, a company statement said. Integrated, state-run corporations teamed up to set up renewable energy-based power plants for IndianOil refineries with an aim to increase the use and capacity of renewable energy sources in the country.

Adani EnterprisesState-owned CIL has canceled its first tender for short-term import of coal, with Adani Enterprises emerging as the lowest bidder, sources said on Monday. For a medium term tender for sourcing an additional 6 million tonnes (MT) of coal from overseas, PT Bara Daya Energy was quoted as saying by 2,000 per tonne less than the rate quoted by the Adani Group firm. Sources said Coal India in its board meeting held on July 8 decided to cancel the short term tender of 2.416 million tonnes and asked PT Bara Daya Energy to supply the quantity demanded against the medium term tender Gone.

indusind bankPrivate lender IndusInd Bank on Monday said its board has approved the proposal to raise Rs 20,000 crore loan for business growth. The Board approved raising funds on private placement basis by way of debt securities in any permitted manner, as may be decided, for an aggregate amount not exceeding 20,000 crores.

Indian Oil: The company signed a joint agreement with state-owned NTPC to meet the power requirement. NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC, will form a joint venture company to supply power to IndianOil. IndianOil said through this joint venture it plans to meet the additional power requirement of its refineries by using round the clock renewable energy by December 2024.

Mahindra & MahindraMahindra & Mahindra on Monday said it has increased its stake in its Finland-based arm Sampo Rosenluy Oy to 100 per cent. 35 crores. In a regulatory filing, Mahindra & Mahindra (M&M) said it entered into an option exercise share purchase agreement on Monday to acquire 1,317 equity shares of Sampo Rosenliu Oy, pursuant to the exercise of a call option on the other shareholder of Sampo.

Yes BankWill invest till Yes Bank 350 crore for a possible 20 per cent stake in property reconstruction company JC Flowers, which has emerged as the base bidder for the bad loan value of the lender. 48,000 crores. The private sector lender is planning to raise up to USD 1 billion in FY13 to expand its core capital base after the NPA challenge is over, its managing director and chief executive Prashant Kumar told reporters here on Monday. .

HCL TechnologyHCL Technologies has signed a multi-year agreement with Netherlands-based pharma and personal care company DSM, the Indian IT company said on Monday. As part of the deal, HCL will help accelerate the digital transformation of Dutch pharma and personal care with a cloud-first strategy, agile delivery and next-generation security and network practices, HCL Technologies said without disclosing the value of the deal. Told.

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