Tech Mahindra said March quarter revenue and earnings declined from a year ago. Tata Steel plans to invest in an arc furnace at its plant in the UK as the company looks for ways to lower its carbon footprint.
Hindustan Unilever reported weak results in the March quarter, citing macroeconomic headwinds. Axis Bank swung to a profit in the March quarter, and the net interest margin stayed elevated.
ICICI Prudential reported a sharp decline in revenue and earnings in the March quarter. Tata Consumer Products said quarterly revenue rose, but net income fell. Gokaldas Exports plans to raise capital through an institutional offering.
Reliance Industries said March quarter net income declined 2% on a volatile margin in its crude oil refining business. HDFC Bank is negotiating with the Japan-based Mitsubishi UFJ to sell as much as a 20% stake in its non-bank financial services unit.
Wipro reported a decline in revenue and earnings in the March quarter. HDFC Bank reported weaker-than-expected quarterly results in its latest quarter. Gujarat State Petronet plunged after the central government agency cut its tariffs for petroleum transmission.
Stocks in Mumbai traded lower and extended weekly losses amid rising tensions in the Middle East. Crude oil jumped 4% after three explosions rocked a city in western Iran.
Adani Family increased its stake in Ambuja Cements to 70.3%. Tata Communications said profit in the March quarter slightly declined. Angel One reported a surge in profit and earnings in the March quarter.
Ambuja Cements acquired a cement griding and processing unit in Tamil Nadu. Brigade Enterprises plans to develop an office complex in Chennai. Vodafone Idea plans to roll out its 5G network in two years.
Senco Gold reported a surge in revenue in the March quarter, and the company held out for strong performance in the current quarter. TCS reported better-than-expected March quarter results.
TCS edged higher ahead of its quarterly results later in the day. Vodafone Idea scheduled its secondary offering for next week. Maharashtra Seamless won an order from ONGC.
Bajaj Finance, Aavas Financiers, IndusInd Bank, Equitas Small Finance Bank, and Bandhan Bank joined other banks in reporting significant increases in new loans and deposit base in the March quarter.
Avenue Supermarts said March quarter revenue rose 20%. KEC International said its construction, mining, and cable units received new orders. Union Bank of India raised $500 million to finance its international expansion.
Nalco reported record bauxite excavation and aluminium metal production and sale in the fiscal year 2024. Olectra Greentech extended its bus manufacturing contract with China-based BYD Auto. HCL Tech sold its stake in a joint venture with the U.S.-based State Street.
Aditya Birla Fashion plans to separate its Madura fashion division, which consists of foreign apparel brands. Anant Raj said the pre-sale of residential units at its projects in Gurugram, Haryana, Hero Motocorp's vehicle sales in March declined.
Prestige Estates struck an investment partnership to develop residential properties with ADIA and Kotak Mahindra. NHPC won loans from a Japan-controlled investment arm. Chennai Petroleum's board raised the investment limit for a petroleum refinery project in Tamil Nadu.
