Top headlines: Asian Paints Q1 net rises 80%; UBS upgrades RIL scrip

Asian Paints Q1 net profit jumps 80% to Rs 1,036 cr, sales up 55%

Asian Paints Ltd on Tuesday reported an 80.39 per cent increase in its consolidated net profit to Rs 1,036.03 crore for the first quarter ended on June 30, 2022, as the business grew both in volume and value terms.

The company had posted a net profit of Rs 574.30 crore during the April-June quarter of the previous fiscal, Asian Paints said in a regulatory filing. Read more

Adani Group to invest $70 bn in green energy, infra: Gautam Adani

The Adani Group will invest $70 billion in green energy transition and infrastructure projects, said chairman Gautam Adani on Tuesday as he called for "reshaping India’s energy footprint in an extraordinary way".

"The best evidence which showcased our confidence and belief in the future is our investment of $70 billion in facilitating India’s green transition. We are already one of the world's largest developers of solar power. Our strength in renewables will empower us enormously in the effort to make green hydrogen the fuel of the future," he said at the annual shareholders' meeting of Adani Enterprises, the flagship company of the group. Read more

UBS upgrades RIL scrip to Buy from Neutral, sees up to 30% upside in a year

Swiss brokerage UBS Securities on Tuesday upgraded Reliance Industries Limited's (RIL) shares to buy from neutral with a 12-month price target of Rs 2,900-Rs 3,150.

On Tuesday, the scrip was changing hands at about Rs 2,438.

According to UBS, the key among Reliance Industries' stock price performance drivers are new investment opportunities to deploy large cash flows profitably. Read more

EV fire incidents: Consumer protection regulator issues notices to 4-5 cos

Consumer protection regulator CCPA on Tuesday said it has issued notices to 4-5 Electric Vehicle (EV) manufacturers, taking suo moto cognizance of consumer complaints regarding series of battery explosions in EVs.

Central Consumer Protection Authority (CCPA) Chief Commissioner Nidhi Khare said the authority will commence the hearing on this matter soon. Read more