Reliance Brands Ltd signed an agreement to invest in India’s foremost couturiers Abu Jani and Sandeep Khosla for a 51 percent majority stake.
Larsen & Toubro Infotech
The IT services company registered a 4 percent sequential growth in profit at Rs 637.5 crore led by higher other income and revenue also grew by 4 percent QoQ to Rs 4,301.6 crore in Q4FY22. The company won 4 large deals with net new TCV (total contract value) of over $80 million. The dividend for the financial year 2021-22 was Rs 30 per share.
The cement major posted a net profit of Rs Rs 563 crore in the January-March quarter a year ago. CNBC-TV18 Poll had predicted a profit of Rs 360 crore for the quarter under review. Total revenue for the quarter rose 3.1 percent YoY to Rs 4,426.5 crore from Rs 4,292 crore in the year-ago quarter.
Profit for the quarter ended March 2022 grew by 196 percent YoY to Rs 3.03 crore with EBITDA rising 68 percent to Rs 5.8 crore YoY, while revenue increased by 46.3 percent to Rs 16.12 crore in the same period. The company has announced a dividend of Rs 10 per share, which is subject to the approval of the shareholders.
Mahindra Lifespace Developers
The company’s subsidiary Mahindra World City Developers has received a Rs 102 crore income tax notice. The amount included interest of Rs 43.1 crore against the return of income filed for the assessment year 2016-17 by Mahindra World.
Asian Granito India
The High Court has quashed show-cause notices issued to the company with respect to the alleged evasion of customs duty.
Punjab & Sind Bank
The company said the NPA accounts – SREI Infrastructure Finance with outstanding dues of Rs 510.16 crore and SREI Equipment Finance with outstanding dues of Rs 724.18 crore – have been declared as fraud. The bank has reported the same frauds to the RBI. Further, the accounts have been fully provided for.
The company has received the patent for an invention entitled ‘Novel Granules and its pesticidal compositions’, from the Patent Office, The Government of India
HBL Power Systems
Banyantree Growth Capital, LLC offloaded a 2.55 percent equity stake in the company through open market transactions during April month. With this, its shareholding in the company stands reduced to 5.9 percent, down from 8.45 percent earlier.