Infosys: The IT firm's consolidated net profit fell 2.1% to Rs 5,686 crore on a 1.3% increase in revenues to Rs 32,276 crore in Q4 FY22 over Q3 FY22. On a year-on-year basis, Infosys' net profit and revenue in Q4 FY22 increased 12% and 22.7%, respectively.
The company issued strong revenue growth guidance of 13%-15% in constant currency and operating margin guidance of 21%-23% for FY23.
Tata Steel: The company said that the meeting of the board of directors of the company is scheduled on 3 May 2022 to consider a proposal for sub-division of the equity shares.
HDFC Bank: The private sector bank's net profit rose 22.83% to Rs 10,055.18 crore on 8.07% increase in total income to Rs 41,085.78 crore in Q4 FY22 over Q4 FY21.
Meanwhile, the board of directors of HDFC Bank approved the issuance of Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long Term Bonds (financing of Infrastructure and Affordable Housing) up to a total amount of Rs 50,000 crore in the period of next twelve months through private placement mode.
Mahindra & Mahindra (M&M): M&M announced a price hike of 2.5% on its range of vehicles. This will result in an increase of Rs. 10,000 to Rs. 63,000 on the ex-showroom prices across the range, depending upon the model and the variant. The price hike will be effective from 14 April 2022.
Lupin: Lupin announced that it has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Desvenlafaxine Extended-Release Tablets, 25 mg to market a generic equivalent of Pristiq Extended-Release Tablets, 25 mg of PF PRISM C.V.
Tata Power Company: Tata Power and BlackRock Real Assets-led consortium, including Mubadala Investment Company (Mubadala), have entered into a binding agreement to invest in Tata Power's renewable energy subsidiary, Tata Power Renewable Energy (Tata Power Renewables). BlackRock Real Assets, together with Mubadala, shall invest Rs 4,000 crore (~US$ 525 million) by way of equity / compulsorily convertible instruments for a 10.53% stake in Tata Power Renewables, translating to a base equity valuation of Rs 34,000 crore. The final shareholding will range from 9.76% to 11.43% on final conversion.
TVS Motor Company: The company has acquired 1.81% stake in Roppen Transportation Services Private Limited (Rapido).
Jubilant Ingrevia: The company announced a CDMO contract for estimated value of Rs 270 crore in specialty chemicals business, spanning over a period of three years with one of its international customers, who is among the top 10 leading innovator pharmaceutical companies globally.
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