Home Manufacturer fund Reliance Industries, ICICI Bank, NBFC, BPCL

Reliance Industries, ICICI Bank, NBFC, BPCL


NEW DELHI: Here is the list of the 10 main actions that could be in the spotlight on Monday:

Trusted industries: After market hours on Friday, the oil-telecom conglomerate led by Mukesh Ambani announced a consolidated net profit of ??13,680 crore for the September quarter (Q2), up 43% year-over-year, driven by improved performance in core businesses. Consolidated operating income amounts to ??1.67 trillion, up 51% year on year.

ICICI Bank: The private sector lender on Saturday announced its highest quarterly net profit on record of ??5,511 crores for the second quarter of FY22, a 30% year-over-year increase. Profits increased on 19% growth in its domestic loan portfolio. Net non-performing assets fell below 1%, the lowest since 2014. Advances increased 17% year-on-year and 4% sequentially to reach ??7 64 937 crores as of September 30.

NBFC: The Reserve Bank of India on Friday announced a limit on non-bank lenders funding subscriptions to initial share sales to stem the flow of large amounts of capital borrowed by high net worth individuals into such deals. There must be a cap of ??1 crore per borrower to finance the subscription to the initial public offering (IPO), the central bank said.

Bharat Petroleum Corp: The divestment-linked oil marketing company said its board of directors approved the merger with itself of the unit that operates the Bina oil refinery in Madhya Pradesh.

JSW steel: To offset rising input costs, national steel giant JSW Steel plans to levy a surcharge on the sale of its steel products to its long-term OEM (original equipment manufacturer) customers. JSW Steel will be the first company to introduce the concept of surcharge to the domestic steel market.

Gland Pharma: The drugmaker, which has an agreement with Russian sovereign wealth fund RDIF to make Sputnik vaccines, said it expects to obtain manufacturing and export licenses for the Sputnik Light vaccine from the government by November. The company announced a 30% year-over-year increase in revenue to ??1,080.46 crore for Q2. Net income is up 38% at ??302.08.

SBI cards and payment services: The board of directors of the company is scheduled to meet on October 28 to consider the issuance of ??2,000 crore MNT.

Hindustan zinc: The prioritization of domestic coal supply for the power sector has affected Hindustan Zinc “to some extent”, but the company has cushioned itself by blocking the supply of imported dry fuel until March. The company recorded a 3.9% increase in net profit at ??2,017 crore for the quarter ended September.

Petronet LNG: India will negotiate to supply undelivered gas from years past when it negotiates renewal of its multibillion-dollar LNG import deal with Qatar. Petronet LNG Ltd’s agreement to import 7.5 million tonnes per year of liquefied natural gas (LNG) with Qatargas ends in 2028. Renewal, if any, must be confirmed 5 years prior to that.

Apollo tires: Plans to introduce its European brand Vredestein in India more than a decade after its acquisition. The Netherlands-based premium tire maker was acquired in 2009 to enter the European market. But the company has not introduced the brand in India given the low volumes in the high-end segment and the market dominance of European tire manufacturers.

To subscribe to Mint newsletters

* Enter a valid email address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!