Hindustan Zinc: Hindustan Zinc, a Vedanta Group company, plans to pay a special dividend of Rs 8,000 crore to its shareholders in the current financial year. The company’s board will meet on Tuesday to approve this special dividend payment. According to sources, about Rs 2,400 crore or 30% of the total amount will benefit the central government and contribute to its non-tax revenue.
Suzlon Energy: Suzlon Energy’s acquisition of operations and maintenance company Renome will help it increase its market share and expand into new markets. The wind turbine manufacturer recently announced the acquisition of a 76% stake in Renome Energy Services, the country’s largest multi-brand renewable energy operations and maintenance services company.
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Glenmark Pharmaceuticals: Glenmark Pharmaceuticals reported a profit of Rs 340.27 crore in its fiscal first quarter, a 127% increase over the same quarter last year. The company said the growth was driven by strong demand for its drugs and a marginal reduction in costs. Revenue from operations stood at Rs 3,244.19 crore, up 6.9% over the previous year.
Hindustan Aeronauticals: Hindustan Aeronautics reported a consolidated net profit of Rs 1,437.14 crore in Q1FY25, up 76.5% year-on-year. Total income for the quarter grew 17.54% to Rs 5,083.85 crore.
Vedanta: Vedanta on Wednesday raised its offer for sale (OFS) proposal for Hindustan Zinc (HZL) and now intends to sell 3.31% of the issued and paid-up share capital of HZL, up from 2.6% earlier.
SpiceJet: SpiceJet reported a 20% drop in its consolidated net profit to Rs 158 crore in the first quarter ended June 2024 as against Rs 198 crore in the previous year. Revenue from operations fell 15% to Rs 1,708 crore.
Tata Steel: Tata Steel acquired around 116 crore shares in its Singapore-based subsidiary T Steel Holdings Pte for $182 million.
Hinduja Global Solutions: Hinduja Global Solutions reported a multi-fold jump in its consolidated profit to Rs 161.5 crore in Q1 FY25 as against Rs 16.64 crore in the same period last year.
Ola Electric: Ola Electric Mobility reported a consolidated net loss of Rs 347 crore in the April-June quarter, up from Rs 267 crore in the same period last year. However, its revenue from operations grew 32.26% to Rs 1,644 crore.