Bharti Airtel in focus

Bharti Airtel said the department of telecommunications accepted its application to increase the limit of foreign investment of up to 100% in the company. This will allow foreign portfolio investors and foreign institutional investors to invest up to 74% of the paid up capital of the company.

Media conglomerate, Zee Entertainment, reported 37.87% fall in consolidated net profit to Rs 349.43 crore on 5.92% fall in total income to Rs 2119.60 crore in Q3 December 2019 over Q3 December 2018. During the quarter television network had an all-India viewership share of 18.2%. While regional portfolio increased its viewership share, share in the Hindi speaking markets declined. Digital business recorded a peak DAU (Daily Active Users) base of 11.4 million in December 2019.

Index heavyweights Larsen and Toubro, Asian paints, Axis Bank will announce quarterly results today, 22 January 2020.

Polycab India reported 13.16% rise in consolidated net profit to Rs 18.78 crore on 22.29% rise in total income to Rs 2507.65 crore in Q3 December 2019 over Q3 December 2018. Revenue growth was driven by healthy growth across segments.

HDFC Asset Management Company reported 44.93% rise in net profit to Rs 352.55 crore on 11.13% rise in total income to Rs 591.99 crore in Q3 December 2019 over Q3 December 2018. Strong and growing order book in the form of long tenure SIP book provides predictable flows.

Indiamart Intermesh reported 123.83% rise in consolidated net profit to Rs 62.00 crore on 23.47% rise in total income to Rs 181.50 crore in Q3 December 2019 over Q3 December 2018. The company generated consolidated cash flow from operations of Rs 71 crore leading to Cash and Investments of Rs 859 crore as on 31 December 2019 compared to 574 crore on 31 December 2018, up 50%.

Allahabad Bank informed that that a meeting of board of directors of the bank will meet on 24 January 2020, to consider and approve a proposal for raising equity capital of the Bank by an amount aggregating upto Rs 2153 crore (including premium) by way of preferential allotment of new equity shares of the bank to the Government of India.

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