STOCK MARKET NEWS UPDATE
The company’s board approved a 1:10 stock split and declared a ₹23 per share dividend. Net profit declined 4.5% YoY.
Biocon:
Biocon successfully raised ₹4,150 crore through a Qualified Institutional Placement (QIP) to strengthen its balance sheet.
BHEL:
BHEL has commenced the supply of Traction Transformers for Vande Bharat Sleeper Trains, supporting India’s railway modernisation drive.
Dr. Reddy’s Laboratories:
The company launched Olopatadine Hydrochloride Ophthalmic Solution in the US for the treatment of eye allergies.
Infosys:
Infosys reported a 2.2% YoY decline in net profit to ₹6,654 crore, while revenue grew 8.9%. The company upgraded FY revenue guidance to 3–3.5% from 2–3%. Profit was impacted by a ₹1,289 crore labour code provision.
Jio Financial Services:
Net profit fell 8.75%, but NBFC AUM surged 4.5x to ₹19,049 crore, indicating strong lending growth.
Waaree Renewable Energy:
The company posted a 124.7% jump in profit to ₹120.2 crore and announced plans to set up a new solar park in Maharashtra.
ICICI Prudential AMC:
Net profit rose 45.1% YoY. The company declared an interim dividend of ₹14.85 per share.
Zydus Lifesciences:
Zydus received USFDA approval for Eltrombopag tablets, a drug with annual US sales of over $1.26 billion.
NTPC Green Energy:
NTPC Green and GAIL (India) approved a 50:50 joint venture to develop renewable energy projects.
RailTel Corporation:
RailTel secured a ₹88.66 crore order from Central Railway, boosting its order book.
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