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HDFC Bank reports 23% rise in Q2 net profit
19 Oct 17:02

HDFC Bank has reported results for second quarter ended September 30, 2019.The bank has reported 26.75% rise in its net profit at Rs 6,344.99 crore for the quarter under review as compared to Rs 5,005.73 crore for the same quarter in the previous year. Total income of the bank increased by 19.63% at Rs 33,755.00 crore for Q2FY20 as compared Rs 28,215.15 crore for the corresponding quarter previous year.On the consolidated basis, the bank has reported a rise of 22.74% in its net profit at Rs 6,648.80 crore for the quarter under review as compared to Rs 5,417.10 crore for the same quarter in the previous year. Total income of the bank increased by 19.94% at Rs 36,130.96 crore for Q2FY20 as compared Rs 30,124.49 crore for the corresponding quarter previous year.

L&T Technology Services reports 8% rise in Q2 consolidated net profit
19 Oct 14:59

L&T Technology Services has reported results for second quarter ended September 30, 2019.The company has reported 6.84% rise in its net profit at Rs 203.00 crore for the quarter under review as compared to Rs 190.00 crore for the same quarter in the previous year.  Total income of the company increased by 8.36% at Rs 1,343.10 crore for Q2FY20 as compared Rs 1,239.50 crore for the corresponding quarter previous year.On the consolidated basis, the company has reported a rise of 7.51% in its net profit at Rs 206.20 crore for the quarter under review as compared to Rs 191.80 crore for the same quarter in the previous year. Total income of the company increased by 9.68% at Rs 1,449.00 crore for Q2FY20 as compared Rs 1,321.10 crore for the corresponding quarter previous year.

Somany Ceramics launches ‘Water Heater’ under its bathware accessories
19 Oct 14:05

Somany Ceramics has launched ‘Water Heater’ under its bathware accessories in India. The company has launched this product for both domestic and international markets. The company is planning to leverage its existing retail and distribution network for bathware appliances. Somany Ceramics is a pioneering manufacturer, supplier and exporter of Floor Tiles, Wall Tiles, Sanitary Ware including urinals, basins, etc. Somany strives to bring its customers floor, wall, vitrified, ceramic, porcelain and innovative tiles that are the very latest in the world.

Reliance Industries to set up national distribution centres in MP
19 Oct 12:36

Reliance Industries is planning to set up national distribution centres in Madhya Pradesh (MP) with over 10 million square feet space across 45 locations. The company, which has over 600 stores and 100 petroleum retail outlets in the state, is planning to more than double the same over the next few years.Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

HDFC raises up to Rs 5,000 crore via bonds
19 Oct 11:37

Housing Development Finance Corporation (HDFC) has raised up to Rs 5,000 crore by issuing bonds on private placement basis. The object of the issue is to augment the long-term resources of the corporation. Proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the corporation. HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

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