In News

Aurobindo Pharma: The company reported a sharp rise in profit at Rs 2,946.3 crore in Q3FY21 against Rs 705.3 crore in Q3FY20, revenue rose to Rs 6,364.9 crore from Rs 5,895 crore YoY.

Bata India: The company reported lower profit at Rs 26.4 crore in Q3FY21 against Rs 118.2 crore in Q3FY20, revenue fell to Rs 615.6 crore from Rs 830.8 crore YoY.

Indraprastha Gas: The company reported a higher profit at Rs 381.8 crore in Q3FY21 against Rs 297.4 crore in Q3FY20, revenue declined to Rs 1,446.2 crore from Rs 1,664.2 crore YoY.

Bank of India: The Competition Commission of India approved acquisition of BOI AXA Invst Managers & BOI AXA Trustee Services by Bank of India.

Titan Company: The company reported lower standalone profit at Rs 419 crore in Q3FY21 against Rs 470 crore in Q3FY20, revenue rose to Rs 7,287 crore from Rs 6,206.2 crore YoY.

Magma Fincorp: Rising Sun Holdings, a company controlled by Mr. Adar Poonawalla, to acquire a controlling stake in Magma Fincorp, through a preferential allotment and open offer route. Adar Poonawalla-controlled Rising Sun Holdings has agreed to take over majority shareholding in Magma Fincorp. The transaction will be concluded through a preferential share allotment worth Rs 3,456 crore. The lender would be renamed to Poonawalla Finance. Magma Fincorp proposes to allot 45.8 crore shares to Rising Sun Holdings, and 3.57 crore shares to Sanjay Chamria and Mayank Poddar, the existing promoters. Rinsing Sun Holdings will hold 60% stake in the non-bank lender after the transaction is completed, while the current promoter shareholding will come down to 13.3%. The net worth for the non-bank lender will rise to Rs 6,300 crore.

Eicher Motors: Royal Enfield CEO Vinod Dasari said that it may have to hike prices again owing to higher commodity costs. Dasari said on the company's analyst call that Royal Enfield has already taken a price hike of 3-5% in the last six months to partially offset the impact of commodity pressure.

BPCL: Has finalised commercial terms in connection with the purchase of the 88.86 crore shares of Bharat Oman Refineries Limited, constituting 36.62% of the share capital of BORL from OQ S.A.O.C. for a consideration of approximately Rs 2,399.26 crore and is in the process of agreeing to definitive documentation with OQ. Upon completion of the purchase, BPCL will hold 100% of the share capital in BORL.

Max India: Approves further investment of Rs 168 crore in its direct / step-down Wholly-owned subsidiary companies through acquisition of new equity / preference shares under the rights issue or through Inter-Corporate deposits in one or more tranches to meet their business and funding requirements.

TCS: Announces further deepening of ties with Amazon Web Service (AWS). Launches AWS Business Unit to help customers accelerate innovation and unlock business value. The new unit will help enterprises leverage AWS to build resilience and enhance customer experience.

Shriram City Union Finance: Banking and Securities Management Committee to consider the issue and allotment of Redeemable, Secured, NCDs of face value of Rs 10 lakh each for an amount of Rs 30 crore with a greenshoe option of Rs 95 crore, aggregating up to 1,250 SNCDs, amounting to Rs 125 crore in one or more tranches on February 15.

Aster DM Healthcare: Aster Pharmacies Group and Aster Al Shafar Pharmacies Group - subsidiaries of the company, have consolidated pharmacies in the UAE after securing all regulatory approvals from the authorities. The merger of Al Raffah Medical Centre and Al Raffah Hospital has been carried out to consolidate the operations of the clinics in Oman. This is done as a part of the company's effort to reduce the number of subsidiaries and to consolidate pharmacies operating in the UAE.

Suprajit Engineering: Approved buyback of 15 lakh shares of Re 1 each for an aggregate amount not exceeding Rs 48 crore. The buyback price of Rs 320 per share is a 31% premium to Wednesday's closing price. The record date for the same is February 22.

Shree Renuka Sugars: Has approved the capacity expansion for ethanol production from 720 KLPD to 970 KLPD. The addition of the new capacity is supposed to be completed by October 2022. The capex requirement of Rs 204 crore for the same is likely to be done through borrowings. The company sees a huge untapped demand for ethanol for the ethanol blending program of the government, which can benefit the company in the future.