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Stocks in the News (31 July):
Reliance Industries reported a 40.5% dip in profit before tax (PBT) and exceptional items. However, it has reported a consolidated profit of Rs 13,248 crore for the Q1 of FY21 with Jio’s ARPU growth of 7.4% QoQ at Rs 140.3 per subscriber per month beating
Street expectations. Consolidated profit during June quarter 2020 (including exceptional gain of Rs 4,966 crore from stake sale to BP in Reliance BP Mobility) increased 102.4% sequentially and 30.6% Y-o-Y.
Reliance Jio – Profit for Q1 2021 is at Rs 2,520 crore vs. Rs 891 crore, revenue at Rs 16,557 crore vs. Rs 12,383 crore YoY.
Torrent Pharma reported its consolidated profit before tax (PBT) rise 44.08% for the Q1, 2021, to stand at Rs 402 crore. The company’s PBT in the corresponding quarter last
year stood at Rs 279 crore.
Rain Industries – reported Profit at Rs 34.4 crore for Q1, 2021 vs Rs 146.7 crore, revenue at Rs 2,360 crore vs Rs 3,341 crore YoY.
Lakshmi Vilas Bank reported a loss before tax provision at Rs 112.28 crore, for the quarter ended June 30, 2020 as against a loss of Rs 237.25 crore for the quarter ended June 30, 2019. The lender’s net NPA reduced to 9.64% as on March 31, 2020 from 10.04% a year ago.
Dabur India reported a 6.18% drop in its consolidated net profit at Rs 341.30 crore for the June quarter in 2020. It had posted a net profit of Rs 363.81 crore in the April-June period
of the last fiscal.
Wipro announced that Metro Bank, a large UK based retail and commercial bank, has awarded a multi-year contract to deliver and transform Testing and Environment Management Services.
Indian Overseas Bank approved raising up to Rs 500 crore via equity and Rs 1,500 crore in Tier 2 capital.
Bata India – LIC of India raised stake in company to 6.47% from 4.46% earlier.
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