Ashok Leyland: Company reported consolidated loss at Rs 146.7 crore in Q2FY21 against profit of Rs 38.9 crore, revenue fell to Rs 2,836.6 crore from Rs 3,929.5 crore YoY.
Bharat Electronics: Company reported higher profit at Rs 397 crore in Q2FY21 compared to Rs 339 crore, revenue jumped to Rs 3,188.7 crore from Rs 2,742.7 crore YoY.
Union Bank of India: Bank has reported net profit at Rs 516.6 crore in Q2FY21 against Rs 332.74 crore, net interest income fell to Rs 6,293 crore from Rs 6,403.2 crore QoQ.
Cipla: Company has reported higher consolidated profit at Rs 661.8 crore in Q2FY21 compared to Rs 480 crore, revenue increased to Rs 5,038.3 crore from Rs 4,395.8 crore YoY.
Vedanta: Company reported lower consolidated profit at Rs 824 crore in Q2FY21 compared to Rs 2,158 crore, revenue fell to Rs 21,107 crore from Rs 21,958 crore YoY.
BHEL: Company reported consolidated loss at Rs 552 crore in Q2FY21 against profit of Rs 121.7 crore, revenue fell to Rs 3,696 crore from Rs 6,226.9 crore YoY.
Dilip Buildcon: Emerges as L-1 bidder for development and operation of Siarmal open cast project in Odisha. The mineable reserve to be exploited over a period of 25 years is 1,091 million metric tons and has a contract value of Rs 37,215.6 crore. The company’s arm has also executed a concession agreement with the National Highways Authority of India for a bid cost of Rs 1,140.5 crore for a four-laning project.
Biocon: Biocon Biologics has received capital infusion worth Rs 1,125 crore or $150 million from Goldman Sachs. As per terms of the agreement, Goldman Sachs will be issued optionally convertible debentures at a post money equity valuation of $3.94 billion.
Lakshmi Vilas Bank: Says due diligence with Clix Capital continues. Both sides are in the process of a workable and mutually acceptable framework. The Bank's board has also approved the issue of equity shares worth up to Rs 500 crore through a rights issue and ICICI Securities has been appointed the merchant banker for the same.
Voltas: Board gives in-principle approval for restructuring B2B business. Domestic projects business relating to MEP/HVAC and water projects and contracts, the Mining & Construction equipment business and Textile Machinery division will be transferred to a 100% wholly-owned subsidiary on a slump sale basis as a going concern.
Adani Gas: Has announced a strategic collaboration with Italy-based Snam - Europe's leading gas infrastructure company. The two intend to explore several opportunities in the energy space. A non-binding agreement has been signed between the two companies to create a Joint Venture for setting-up a CNG compressors manufacturing facility in India.
Vedanta: Overseas arm extends loans to Vedanta Resources and its subsidiaries. The loan extended to the parent company now stands at $956 million and carries an interest rate of 7%. The loan during Q1FY21 stood at $307 million. The auditors had expressed their inability to comment on whether the loan has been recorded at fair value. The management believes that these balances have been recorded at fair value.
NTPC: Unit-2 of 800 MW of Lara Super Thermal Power Station Stage-I has been declared commercially operative with effect from November 7.
Care Ratings: Aditya Birla Sun Life Mutual Fund reduced stake to 3.03% from 5.07% on November 4.
ICICI Prudential Life Insurance: Board allotted NCDs worth Rs 1,200 crore.
Canara Bank: Cuts MCLR between 5-15 basis points across various tenors from November 7. One-month MCLR now at 6.8% while one-year MCLR at 7.35%.
ONGC: Board approves selling 125 crore equity shares or 49% stake in OMPL to MRPL, a subsidiary of the company. The proposed restructuring will not result in any change in the shareholding of MRPL.
Aban Offshore: Gets notice from NCLT Chennai for a hearing on November 10 in respect of an application filed by one of the financial creditors under insolvency proceedings for a default of Rs 190.3 crore.
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