Exide Industries, Infosys and Jindal Stainless to see some action today

Exide Industries has invested Rs 74.99 crore by way of subscription in the equity share capital of its wholly owned subsidiary, ‘Exide Energy Solutions’ (EESL), on rights basis. With this investment, the total investment made by the Company in EESL (including investment made in erstwhile merged subsidiary Exide Energy) stands to Rs 2,377.24 crore. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.

Infosys has entered into multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimize and modernize FAB’s IT infrastructure services. As part of this collaboration, Infosys will leverage Infosys Cobalt, a set of services, solutions, and platforms for enterprises to accelerate their cloud journey, to deliver industry-leading, infrastructure-managed services, including service desk capabilities, to transform FAB’s IT infrastructure. Infosys will help integrate a suite of enterprise tools to drive significant improvements in FAB’s service quality, risk reduction, and business outcomes.

Jindal Stainless has supplied the tempered 201LN grade of high-strength stainless steel to India’s first Vande Metro train. Boosting inter-city travel servicesin India, the Indian Railways recently unveiled its first Vande Metro train from the Integral Coach Factory (ICF) in Chennai. The Vande Metro train is a shorter-distance version of the Vande Bharat Express. Compared with the conventional ferritic stainless steel grade, the thickness of the external panels of trainsets has been reduced from 3 mm to 2 mm, resulting in lighter, more energy-efficient, and therefore, more cost-effective trains.

Nilkamal has received approval for raising funds through issue of secured/unsecured, rated/unrated, listed/unlisted, non-convertible, redeemable, taxable debentures on a private placement basis for an amount up to Rs 200 crore. The Board of Directors of the company at its meeting held on May 14, 2024, inter alia, approved the same. 

Cipla’s promoters and promoter group entities are reportedly looking to sell up to 2.53 per cent stake in the company through a block deal for a total value of Rs 2,637 crore.

Bharti Airtel has reported results for fourth quarter (Q4) ended March 31, 2024. The company has reported 34.68% rise in its net profit at Rs 1,823.90 crore for the quarter under review as compared to Rs 1,354.20 crore for the same quarter in the previous year. Total income of the company increased by 12.74% at Rs 24,765.10 crore for Q4FY24 as compared Rs 21,966.60 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 51.06% fall in its net profit at Rs 2,068.20 crore for fourth quarter ended March 31, 2024 as compared to Rs 4,226.00 crore for the same quarter in the previous year. However, total income of the company increased by 4.47% at Rs 37,916.00 crore for Q4FY24 as compared Rs 36,293.90 crore for the corresponding quarter previous year.

IOL Chemicals And Pharmaceuticals has reported results for fourth quarter (Q4) ended March 31, 2024. The company has reported 56.81% fall in its net profit at Rs 28.19 crore for the quarter under review as compared to Rs 65.27 crore for the same quarter in the previous year. Total income of the company decreased by 14.18% at Rs 511.44 crore for Q4FY24 as compared Rs 595.93 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 57.36% fall in its net profit at Rs 27.62 crore for fourth quarter ended March 31, 2024 as compared to Rs 64.78 crore for the same quarter in the previous year. Total income of the company decreased by 14.18% at Rs 511.44 crore for Q4FY24 as compared Rs 595.94 crore for the corresponding quarter previous year.