Religare Enterprises: The battle for Religare Enterprises has taken a new turn, with the markets regulator seeking the views of its insurance counterpart on REL’s insurance unit issuing hefty stock options to Rashmi Saluja, who chairs both companies. On January 4, the Securities and Exchange Board of India (Sebi) wrote to the Insurance Regulatory and Development Authority of India (Irdai) for its detailed views and comments on the grant of Care Health Insurance Ltd stock options to Saluja.
One97 Communication: Paytm’s parent company confirmed on Wednesday that it has received notices from the Enforcement Directorate (ED) requesting information on customers who have conducted business with its group companies.
Adani Green Energy: The company is planning to develop a 30 GW renewable energy plant with a colossal plan in Khavda, India. The project is, poised to be the world’s largest upon completion, and is expected to generate a staggering ~81 billion units of electricity annually, enough to power 16.1 million homes and prevent a whopping 58 million tonnes of CO2 emissions each year.
Crompton Greaves Consumer Electricals: The company reported a 3.1% decline in its consolidated net profit to ₹85.45 crore for the third quarter ended December 2023. It had posted a net profit of ₹88.19 crore in the December quarter a year ago, Crompton Greaves Consumer Electricals said in a regulatory filing. However, its revenue from operations rose 11.63% to ₹1,692.69 crore in the quarter under review, compared to ₹1,516.21 crore in the year-ago period.
Nabard: The national developmental bank reported a 34% YoY rise in net profit at ₹4,495 crore for the December 2023 quarter, compared to a PAT of ₹3,345 crore in the year-ago period. The bottom line expansion was led by a margin increase of 18 basis points to 1.53%, a marginal improvement in gross bad loans at 0.27% and zero net Non Performing Assets (NPAs).
NMDC: The state-owned company posted a 62% rise in consolidated net profit at ₹1,469.73 crore in the December quarter, compared to a net profit of ₹903.89 crore in the year-ago period, the mining company said in an exchange filing. Its total income surged to ₹5,746.47 crore over ₹3,924.75 crore a year ago. NMDC’s expenses stood at ₹3,516.78 crore in the third quarter of the current fiscal as against ₹2,693.01 crore a year ago.
SpiceJet: The troubled low-cost airline has informed the Delhi High Court that it is prepared to return a leased engine to its lessor, Engine Lease Finance BV, in Brussels, Belgium, at its own expense, following failed settlement talks between the two parties. The court has asked both SpiceJet and the lessor to nominate a third-party agency to inspect the engine’s condition before it is flown back to Brussels.
Glenmark Pharmaceuticals: The pharma company reported a standalone loss of ₹20.40 crore in Q3FY24, compared to ₹430.53 in the corresponding quarter previous year Q3FY23, the company said in a stock exchange filing. Glenmark’s revenues declined 38.4 per cent YoY to ₹1,304.16 crore, compared to ₹2,118.99 crore in the corresponding quarter last year.
BGR Energy Systems: The company’s loss widened to ₹691.38 crore in the December quarter compared to the year-ago period, driven by higher expenses. The consolidated net loss of the company was ₹59.22 crore in the quarter ended on December 31, 2022, a BSE filing showed. Total expenses rose to ₹1,031.38 crore in the quarter from ₹334.29 crore in the same period last fiscal.
Gland Pharma: The pharmaceutical company posted consolidated Profit After Tax of ₹192 crore for the December quarter on Wednesday, compared to a PAT of ₹232 crore in the year-ago period. Its revenue from operations stood at ₹1,545 crore for the October-December period, up from ₹938 in the year ago period.
