Bharti Airtel: The telecom firm, after market hours on Tuesday, 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.
L&T: The construction major will announce its earnings for the quarter-ended December today. Separately, the Defence Acquisition Council, chaired by minister Rajnath Singh, on Tuesday shortlisted state-owned Mazagaon Dock Shipbuilders Ltd and Larsen & Toubro Ltd for the ₹45,000 crore submarine project for the Indian navy, according to a Mint report.
Axis Bank: The private lender will today report its earnings for the December quarter. Separately, another private lender RBL Bank Ltd will also announce its financial results for the three months ended December.
HDFC AMC: The company reported its earnings for the December quarter after market hours on Tuesday. It posted a 44.93% year-on-year jump in net profit to ₹352.55 crore in the third quarter, supported by higher total income and lower total expenses. The asset management company had reported a net profit of ₹243.26 crore in the same period last financial year.
Zee Entertainment: The media giant, after market hours on Tuesday, released its numbers for the third quarter. Its net profit fell a sharp 37.9% on year due to lower revenue and operating income. Profit declined to ₹349.4 crore, from ₹562.4 crore in the year-ago period. Revenue from operations fell 5.5% to ₹2,048.7 crore on year due to lower revenue from advertising.
Asian Paints: The company will announce its earnings for the December quarter today. Separately, SBI Life Insurance Company Ltd, Tata group-led Tata Communications Ltd and Raymond Ltd will also report their results for the third quarter today.
Allcargo Logistics: The multimodal logistics firm on Tuesday said it has acquired around 13% in express logistics firm Gati Ltd. The board of Gati approved the allotment of 1.33 crore shares at ₹75 apiece to Allcargo through preferential allotment. Allcargo has has already infused ₹100 crore into Gati through the preferential allotment route.
HCL Technologies: The IT company on Tuesday announced the launch of a dedicated HCL Microsoft Business Unit focused on Microsoft technologies. This will extend Microsoft’s offerings of business applications—Microsoft Dynamics 365, Microsoft Azure, loT, and Al/Machine Learning—as well as help employees accomplish more in the modern workplace with Microsoft 365 and Windows 10.
Allahabad Bank: The state-owned bank, after market hours on Tuesday, said its board is scheduled to meet on 24 January to consider a proposal for raising equity capital amounting to ₹2,153 crore through preferential allotment to the government.
Havells: The company announced it earnings for the December quarter on Tuesday. Its consolidated net profit rose 7.4% year-on-year to ₹201.2 crore in the reporting quarter. However, revenue during the quarter slipped 9.9% to ₹2,273.3 crore.