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In News

Tata Metaliks: The Tata Group company has reported a profit of Rs 9.48 crore for the December FY23 quarter, falling 74 percent year-on-year dented by weak operating performance. Input cost and finance cost hit the bottom line. However, revenue from operations grew by 14.5 percent YoY to Rs 790.23 crore for the quarter.

Glenmark Pharmaceuticals: The pharma company entered into an agreement with Eris Oaknet Healthcare, a wholly owned subsidiary of Eris Lifesciences, to divest the tail brands from its dermatology segment, for India and Nepal territories. The transaction cost is Rs 340.48 crore. The divested tail brands include Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands. This divestment is in line with Glenmark's strategy of focusing on its leading brands in the dermatology segment.

ICICI Lombard General Insurance Company: The insurance company has reported an 11 percent year-on-year growth in profit at Rs 352.53 crore for the quarter ended December FY23. Premium earned at Rs 3,792 crore for the quarter grew by 14.5 percent YoY and total income grew by 13.2 percent to Rs 4,362 crore in Q3FY23.

Gokaldas Exports: Goldman Sachs Asset Management International bought an additional 0.018 percent stake in the company via open market transactions on January 13. With this, its shareholding in Gokaldas rose to 5.003 percent, from 4.985 percent earlier.

Coforge: Life Insurance Corporation of India purchased an additional 0.057 percent stake in the IT services company via open market transactions on January 16. With this, LIC's shareholding in the company increased to 5.033 percent, from 4.976 percent earlier.

ICICI Prudential Life Insurance Company: The life insurance company has recorded a 29 percent year-on-year fall in standalone profit at Rs 220.63 crore for quarter ended December FY23. Net premium income grew by 4.3 percent YoY to Rs 9,464.5 crore in Q3FY23.

ITC: The FMCG company has signed a binding term sheet to acquire a 100 percent stake in Sproutlife Foods, an Indian company primarily engaged in the business of manufacture and sale of food products under the trademark 'Yoga Bar'. The company will make an initial investment of Rs 175 crore in Sproutlife Foods for a 39.4 percent stake, which is expected to be completed by February 15, 2023.

Delta Corp: The casino gaming company has reported a 20.5 percent year-on-year growth in consolidated profit at Rs 84.82 crore for the quarter ended December FY23, led by other income and operating revenue. Revenue from operations increased by 10.6 percent YoY to Rs 273.4 crore in Q3FY23.

Rail Vikas Nigam: The company has emerged as the lowest bidder (L1) for the commissioning of power supply receiving and distribution system for Surat Metro Rail Project Phase-I with a cost Rs 673.8 crore, and for Ahmedabad Metro Rail Project Phase-II with a cost of Rs 384.3 crore. Siemens is the lead partner with a 65 percent share and RVNL is having 35 percent share in these projects.