Shares of Reliance Industries (RIL) will be in focus. On a consolidated basis, RIL on Friday reported 12.5% rise in net profit to Rs 13,101 crore on 23.12% decline in net sales to Rs 117,860 crore in Q3 December 2020 (Q3 FY21) over Q3 December 2019 (Q3 FY20). The net revenue increased 5.95% sequentially primarily due to higher price realizations and higher volumes in O2C segment, higher ARPU and FTTH expansion in digital services business. The result was announced after trading hours on Friday (22 January 2021).
Tata Motors has announced that it will hike prices of its passenger vehicle range, effective 22 January 2021. Rising input costs and material costs of steel, precious metals and semiconductors have compelled the company to pass on a part of the cost to customers. Tata Motors has marginally increased prices from 0 to Rs 26,000, depending on the variant.
UltraTech Cement reported 141.04% jump in consolidated net profit to Rs 1,550.28 crore on a 19.21% rise in total income to Rs 12,092.25 crore in Q3 December 2020 over Q3 December 2019.
Grasim Industries said its board of directors has approved a foray into the paints business. The company's board has approved an investment of up to Rs 5,000 crore over the next 3 years, primarily towards capital expenditure.
Zydus Cadila has received final approval from the USFDA to market Liothyronine Sodium Tablets USP, 5 mcg, 25 mcg, and 50 mcg.
Tata Power said its wholly-owned subsidiary Tata Power Solar Systems (Tata Power Solar) has received a Letter of Award (LoA) to build 320MW of ground mounted Solar PV project for NTPC. The order value of the project is approx Rs 1200 crore ($162 Million). The commercial operation date for this project is set for May 2022.
Birla Corporation reported 82.13% jump in consolidated net profit to Rs 148.42 crore on a 5.04% rise in total income to Rs 1,822.82 crore in Q3 December 2020 over Q3 December 2019.
Yes Bank reported net profit of Rs 150.71 crore in Q3 December 2020 as compared to net loss of Rs 18,560.31 crore in Q3 December 2019. Total income rose 3.99% to Rs 6,518.37 crore in Q3 December 2020 over Q3 December 2019.
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