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<keyword id="19923700" type="General" weightage="20" keywordseo="Tata-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Power" meta.hostid="261" meta.entityid="Tata Power">Tata Power</keyword> on Tuesday said it has logged 31 per cent rise in consolidated net profit at Rs 1,189 crore, compared to the year-ago period, on back of operational efficiency. "At Rs 1,189 crore, growing 31 per cent YoY (year-on-year), the company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of generation, transmission &amp; distribution, and renewables," Tata Power said in a statement. According to the statement, these businesses contributed 84 per cent of the PAT (net profit) in Q1FY25, compared to 72 per cent in the same period in FY24. The statement showed that the consolidated net profit before exceptional items was Rs 906 crore in the quarter ended June 30, 2023. The company's revenue rose 12 per cent YoY to a record high of Rs 16,810 crore (from Rs 15,003 crore in Q1 FY24), and EBITDA grew 11 per cent to Rs 3,350 crore in the reported quarter (from Rs 3,005 crore in Q1 FY24). EBITDA refers to earnings before interest, taxes, depreciation, and amortization. "All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum," said Praveer Sinha, CEO and Managing Director, Tata Power. He informed that the planned capex for this financial year is Rs 20,000 crore and the company is committed to adopting and leading the new and emerging clean energy technologies, including pumped hydro projects, hydropower projects in Bhutan, and opportunities to develop small modular nuclear reactors as the government policy evolves. The company has recorded a capex investment of Rs 4,000 crore in Q1FY25. It has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 per cent of the capacity, with another 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is Rs 15,500 crore. Tata Power is poised to garner 20 per cent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Tata Power net profit up 31% to ₹1,189 crore in June quarter

Shares of <keyword id="45008" type="DOMAIN" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> on Wednesday rallied 7 per cent after the company posted a two-fold rise in its <keyword id="645414" type="PERSON" weightage="20" keywordseo="consolidated-net-profit">consolidated net profit</keyword> for the January-March quarter compared to the year-ago period. The scrip gained 6.95 per cent to Rs 34.60 on BSE, while it surged 6.62 per cent to Rs 34.60 on NSE. Tata Power on Tuesday posted a two-fold jump in its consolidated net profit to Rs 475 crore in the January-March quarter compared to the year-ago period. The company's consolidated net profit was Rs 172 crore in the quarter ended on March 31, 2019, a company statement said. Consolidated revenue stood at Rs 6,881 crore in the fourth quarter of 2019-20 compared to Rs 7,597 crore in the corresponding quarter last year mainly due to delay in project execution in solar engineering procurement and construction business on account of COVID-19, lower power demand and lower coal price, it said. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/microsoft-ceo-satya-nadella-on-cloud-nine-with-lockdown-experience/articleshow/75833830.cms">Microsoft's lockdown experience puts Satya Nadella on ‘cloud’ nine</a> <a href="https://www.businessinsider.in/careers/news/you-can-now-get-certified-to-be-an-iot-developer-with-microsofts-free-online-course-and-there-are-many-new-changes-coming-this-year/articleshow/75823085.cms" data-type="tilCustomLink">You can now get certified to be an IoT developer with Microsoft's free online course — and there are many new changes coming this year</a>

Tata Power rallies over 7% after 2-fold jump in Q4 profit

(Eds: Updates with MD comments) New Delhi, May 19 () Tata Power on Tuesday posted a two-fold jump in its consolidated net profit to Rs 475 crore in the January-March quarter compared to the year-ago period. The company's consolidated net profit was Rs 172 crore in the quarter ended on March 31, 2019, a company statement said. "PAT (profit after tax or net profit) was up 177 per cent at Rs 475 crore as against Rs 172 crore due to gain on sale of Cennergi investment offset by impairment provision in SED &amp; reversal of MAT Credit due to transition to new tax regime in the renewables business," the company explained in the statement. Tata Power's consolidated revenue stood at Rs 6,881 crore as compared to Rs 7,597 crore in the corresponding quarter last year mainly due to delay in project execution in solar EPC (engineering procurement and construction) business on account of COVID19, lower power demand and lower coal price, it said. "Tata Power Group's FY'20 revenue stood at Rs 28,948 crore as compared to Rs 29,984 crore last year mainly due to lower power demand, delay in project execution in solar EPC business on account of COVID 19 and lower coal prices", it added. The consolidated net profit stood at Rs 1,316.44 crore in 2019-20 as against Rs 2,605.66 crore in the previous fiscal year. The board has declared a dividend of Rs 1.55 per share. Commenting on the performance, Praveer Sinha, CEO &amp; MD, Tata Power said in the statement, "All our businesses and operations have performed exceptionally well. Our robust performance is supported by excellent performance of renewable business &amp; capacity addition." About impact of lockdown, he said, "We are witnessing a drop in demand by almost 30 per cent compared to 2019 in our distribution businesses. Though this impacts our topline, almost all Tata Power's assets are under either regulated businesses or through fixed price long term contracts on take or pay basis. Thus in our business, the return profile covers our fixed costs and provides us assured returns." "The company's divestment plans remain on track with a closure of the Cennergi transaction earlier in April with Rs 842 crore realised from this sale including hedging gain." The company is in advanced discussions to execute sale agreement for another overseas asset, he said. In addition, there is good progress on closing the sale of defence business in this quarter. "The divestment in Zambia hydro project is also expected to be completed by December. The company is confident of meeting their divestment target this year. The restructuring of Renewable businesses including setting up the vehicle for their growth is well on track to closure." KKS MR MR

Tata Power posts over two-fold jump in Q4 net to Rs 475 cr

<ul><li><keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> completed the acquisition of 51% stake in TP Central <keyword id="6357961" type="LOCATION" weightage="20" keywordseo="odisha">Odisha</keyword> Distribution Ltd (TPCODL) for ₹178.5 crore.</li><li>The shares of the company climbed over 4% on June 2.</li><li>Tata Power has a market cap of nearly ₹10,697.38 crore. </li><li>The acquisition will see Tata Power taking over the power supply business of five cities in Odisha. </li></ul>The shares of Tata Power, a subsidiary of Tata Group, climbed over 4% within a few minutes of trading on June 2 after the company completed acquisition of 51% stake in TP Central Odisha Distribution Ltd (TPCODL) for ₹178.5 crore. Tata Power has a market cap of nearly ₹10,697.38 crore. At 12:10 am, the shares were trading 4.18% higher at ₹41.10 a piece on the BSE. <div type="image" title="Tata power share price" msid="76150589" hostid="261"></div> Meanwhile, the company is hoping to raise about ₹3,000 crore from divestment of non-core operations and restructuring the renewable energy business as it aims to cut the debt by around 40% in the current financial year. “Our attempt is to reduce the debt to the levels of ₹25,000 crore by the end of this fiscal year from ₹44,000 crore; it is an indicative target. We are looking at various means to do it. We have already started our divestment process,” <a href="https://economictimes.indiatimes.com/industry/energy/power/tata-power-eyes-3k-cr-divestment-revamp-of-green-assets-to-cut-debt/articleshow/76143531.cms">Managing Director Praveer Sinha told ET</a>. ‘<keyword id="250122" type="COMPANY" weightage="20" keywordseo="CESU">CESU</keyword> tie-up a huge development for Tata Power’ Tata Power said that the Grid Corporation of Odisha (<keyword id="297737" type="COMPANY" weightage="20" keywordseo="Gridco">GRIDCO</keyword>) would hold the remaining 49% stake in TPCODL, which operates Central Electricity Supply Utility of Odisha (CESU). However, now Tata Power has taken over the management of CESU, and will now be responsible for the distribution and retail supply of electricity in Odisha's five circles consisting of Bhubaneswar, Cuttack, Puri, Paradeep and Dhenkanal. In the fourth quarter ended March 31, Tata Power posted a two-fold jump in its consolidated net profit at ₹475 crore. As per the agreement, the company will retain all the existing employees of CESU and will govern them by their existing policy structure. "Our tie-up with CESU is a huge development for Tata Power. We are committed to provide reliable, affordable and quality power supply along with superior customer service, backed by innovative technology. The success of our Delhi, Mumbai and Ajmer distribution businesses are testament to this fact," Tata Power CEO &amp; MD Praveer Sinha said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/sebi-has-ordered-a-special-audit-of-the-six-debt-funds-shut-down-by-franklin-templeton-in-may/articleshow/76148899.cms" data-type="tilCustomLink">SEBI orders special audit of Franklin’s six debt funds – with ₹30,800 crore wealth locked in, wary investors demand reopening</a> <a href="https://www.businessinsider.in/india/news/pm-modi-speech-highlights-during-cii-anniversary/articleshow/76149631.cms" data-type="tilCustomLink">‘India will get its growth back’, says a confident PM Modi in an address to top industry leaders</a> <a href="https://www.businessinsider.in/india/news/india-coronavirus-news-and-updates-for-june-2-2020/articleshow/76149118.cms" data-type="tilCustomLink">India records more than 8,000 cases for the third straight day— over all tally inches closer to 2 lakh</a>

Tata Power shares jump 4% after company takes over Odisha’s power distribution and announces plans to reduce debt

New Delhi, May 20 () Shares of Tata Power on Wednesday closed nearly 4 per cent higher after the company posted a two-fold rise in its consolidated net profit for the January-March quarter compared to the year-ago period. The scrip, which gained 6.95 per cent to Rs 34.60 during the day on the BSE, later closed at Rs 33.35, up 3.09 per cent. It surged 3.69 per cent to close at Rs 33.65 on NSE. In terms of traded volume, 52.38 lakh shares were traded on the BSE and over 9 crore shares on the NSE during the close of trade. Tata Power on Tuesday posted a two-fold jump in its consolidated net profit to Rs 475 crore in the January-March quarter compared to the year-ago period. The company's consolidated net profit was Rs 172 crore in the quarter ended on March 31, 2019, a company statement said. Consolidated revenue stood at Rs 6,881 crore in the fourth quarter of 2019-20 compared to Rs 7,597 crore in the corresponding quarter last year mainly due to delay in project execution in solar engineering procurement and construction business on account of COVID-19, lower power demand and lower coal price, it said. SUM SHW SHW

Tata Power shares gain nearly 4 pc on 2-fold jump in Q4 profit

Mumbai, Apr 23 () The COVID-19 pandemic has been a wake up call for the domestic solar industry as it is heavily dependent on imports, but domestic manufacturing can be sustained only if there is profitability, a senior official of Tata Power Solar said. As much as 80 per cent of the demand for solar cells and modules are met by imports from Chinese companies. Therefore, the imposition of work restrictions by China in eight coronavirus-affected provinces, most of which are hubs of solar module manufacturers, impacted the Indian solar industry. The developers are facing a shortfall of raw materials which is going to affect the installations in the first half of the year. "COVID-19 pandemic is indeed a wake up call for the solar industry as the sector has been severely impacted due to the shortage of not just cells and modules but also other ancillary products. "This calls for setting up more manufacturing facilities in India. But this will happen only if there is a long term business proposition," the company's Managing Director and CEO Ashish Khanna said during a webinar. He said India has the necessary technology, which is at par with global standards, but what is lacking is the scale. "The government is taking steps by coming up with few manufacturing-linked tenders for setting up solar capacities and has also introduced basic custom duty on imports, but we need a policy framework that will ensure longevity of offtake of the products manufactured as well as profitability," he said. India has set an ambitious target of adding 100 GW of solar energy by 2022 and has so far achieved installation of 34 GW. Khanna further said manufacturing is highly capital intensive and needs to be incentivised by the government to make it more cost competitive. "I am told that recently China proposed to set up 60 GW of manufacturing capacity, which can take care of over 50 per cent of global demand. These manufacturers get a lot of subsidies and incentives from the government and therefore can sell it at cheaper rates. "In the post COVID-19 period, developers and contractors may go back to Chinese modules and cells if we don't give a good quality and cheaper alternative which is made in India," he said. Khanna noted that if the Indian government, through various policy initiatives, can ensure scale and profitability, manufacturers will increase production, which will not just cater to the domestic market but can also be exported. Tata Power Solar, which is largely focused on setting up solar projects on engineering, procurement, and construction (EPC) basis, also has a manufacturing unit in Bengaluru. The facility has a production capacity of 400 MW of modules and 300 MW of cells and the company is keen to invest in technology and capacity enhancement. "If there are returns, then why will we not invest? We have already invested in setting up the facility and we are eager to invest more in technology and capacity enhancement. However, manufacturing is not just a transaction but has to be looked at from a long-term horizon," Khanna added. Tata Power Solar, a wholly-owned subsidiary of Tata Power, has commissioning over 425 MW rooftop projects, over 5.4 GW large projects, and more than 25,000 installations of solar water pumps across the country. PSK ABMABM

'COVID-19 wake up call for solar industry, need to set up more mfg facilities in India'

<keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> on Friday reported over three-fold jump in consolidated net profit at Rs 17,528.59 crore in the fourth quarter ended March 31, 2024, riding with all its three auto businesses delivering a strong performance, specially the British arm <keyword id="20059278" type="General" weightage="20" keywordseo="Jaguar-Land-Rover" source="keywords" meta.keywordsubtype="org" meta.entityname="Jaguar Land Rover" meta.hostid="261" meta.entityid="Jaguar Land Rover">Jaguar Land Rover</keyword>. The company had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing. Total consolidated revenue from operations stood at Rs 1,19,986.31 crore, as compared to Rs 1,05,932.35 crore in the year-ago period. In <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword> FY24, Tata Motors said all three auto businesses delivered strong performance. The company's British arm Jaguar Land Rover had "another record-breaking quarter in Q4 FY24. Revenue for the quarter was 7.9 billion pounds, up 11 per cent versus Q4 FY23", Tata Motors said. JLR's Profit After Tax (PAT) in Q4 was 1.4 billion pounds as against a profit of 259 million pounds in the same quarter a year ago, it added. The Board of Directors have recommended a final dividend of Rs 3 per ordinary share and Rs 3.10 per 'A' ordinary share and a special dividend of Rs 3 per ordinary share and Rs 3.10 per 'A' ordinary share subject to approval by the shareholders. For the fiscal ended March 31, 2024, consolidated net profit was at Rs 31,806.75 crore as compared to Rs 2,689.87 crore in the previous fiscal, the company said. In FY24, total consolidated revenue from operations stood at Rs 4,37,927.77 crore as compared to Rs 3,45,966.97 crore in FY23. <keyword id="20430970" type="General" weightage="20" keywordseo="tata-motors-group" source="keywords">Tata Motors Group</keyword> Chief Financial Officer, PB Balaji said in FY24 the Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows. "The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and therefore, we are confident of sustaining this strong performance in the coming years," he added. JLR's revenues for FY24 were 29 billion pounds, its highest-ever full-year revenue and up 27 per cent compared to the prior year, while PAT for FY24 was 2.6 billion pounds. "We have delivered a record financial performance for the company, generating free cash flow of 2.3 billion pound, enabling us to reduce net debt to 0.7 billion pound," JLR Chief Executive Officer Adrian Mardell said. The foundation of this performance was the sustained global demand for JLR's modern luxury vehicles, led by Range Rover and Defender brands, underpinned by a consistent focus on operational improvement, he added. Tata Commercial Vehicles' Q4 FY24 revenue was at Rs 21,600 crore, while FY24 revenue was Rs 78,800 crore. In Q4 FY24, domestic wholesale commercial vehicles (CV) volumes were 1,04,600 units, lower 7 per cent year-on-year on account of increased pre-buy in Q4 FY23 due to BS6 Phase II transition, the company said. Tata Motors Ltd Executive Director Girish Wagh said the Indian CV industry grew by a modest 2 per cent in volumes during FY24, impacted by a high base effect of FY23, elections held across five states and the announcement of general elections. "Our sharp focus on profitable growth resulted in the CV business recording its highest-ever revenues of Rs 78,800 crore and profits of Rs 6,100 crore in FY24. Going forward, we will intensify our efforts to grow market share, profitably and consistently, in every business segment by delivering more value to customers with innovative products, smarter services and holistic mobility solutions," he added. Tata Passenger Vehicles clocked revenue of Rs 14,400 crore in Q4 while for the full year FY24 it was at Rs 52,400 crore. In Q4, Passenger Vehicle (PV) volumes were at 1,55,600 units, up 14.8 per cent from the year-ago period, supported by new SUV facelifts and multiple power trains, the company said. "Passenger vehicle sales in India set a record in FY24 with over 4.2 million units sold, driven by SUVs (50 per cent of overall sales) and emission-friendly powertrains. Tata Motors recorded its third consecutive year of highest sales volumes with 6 per cent growth in wholesales and 10 per cent in retail sales over FY23," Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Managing Director Shailesh Chandra said. The company sold 73,800 EVs during the year, marking a 48 per cent increase as compared to FY23 and crossed a milestone of 1.5 lakh cumulative EV production, he added. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a><a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms" target="_blank">IPL Decoded: Highest individual scores in IPL 2024 so far, from Stoinis to Kohli</a><a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank">Apple and Samsung dominate the top-selling smartphones in Q1 2024</a>

Tata Motors Q4 consolidated net profit jumps over 3-fold at ₹17,528.59 crore

India Inc has seen a healthy improvement in operating profit margins in the quarter to March, led by IT companies that have reported an eight-quarter high expansion owing to easing of manpower costs, according to an analysis by ET Intelligence Group of the first 100 companies which have announced results. The analysis does not include banking and <keyword id="25455" type="ORGANIZATION" weightage="40" keywordseo="finance">finance</keyword> companies since they have different reporting norms and also petroleum companies because their sheer size will have a disproportionate influence on the aggregates. 
 Yet, the aggregate net profit of the companies, at 16.5% of net sales, is the highest over the past eight quarters. The group’s revenues grew to Rs108,880 crore, an acceleration of 13.9% over the previous year and faster than the 12.7% growth posted in the previous quarter but slower than the July-September quarter that saw a sharp depreciation in <keyword id="6355302" type="ORGANIZATION" weightage="40" keywordseo="Rupee">rupee</keyword> and significantly benefitted IT players. The share of other income, or the income from non-business sources such as <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword>, rose sequentially to 13.9% of the group’s gross profit, or profit before depreciation, interest &amp; tax (PBDIT). 
 
Ten Companies Doubled Profits 
 
Ten companies posted more than double profits for the quarter. Hyderabadbased Oil Country Tubular, which supplies drilling pipes to petroleum producers, posted the biggest jump (of 65 times) in its quarterly profit to Rs14.9 crore following a mammoth 2,450-basis points increase in operating profit margins. 
 In all, 43% of the companies reported an expansion in operating profit margins compared with the year-ago period. <keyword id="144504" type="COMPANY" weightage="40" keywordseo="Tata-Metaliks">Tata Metaliks</keyword>, <keyword id="80005" type="CITY" weightage="40" keywordseo="Tata-Elxsi">Tata Elxsi</keyword>, Reliance Industrial Infra, Biocon and UPL were among the significant gainers during the period. 
 Two-thirds of the companies reported growth in net sales over the previous year. Power transmission and distribution player <keyword id="315689" type="COMPANY" weightage="40" keywordseo="Emco">Emco</keyword> posted the highest sales growth of 93.8% to Rs328 crore while Eimco Elecon, Granules India, Liberty Shoes and Cera Sanitaryware were some of the other companies that reported high revenue growth.

IT Companies Improve India Inc's Operating Profit Margins In Q1

<ul><li>The SGX Nifty was trading nearly a percent higher, indicating a positive start for the Sensex and Nifty50.</li><li>Here's a list of stocks to watch out for in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid positive cues from the global market, Indian stock-market indices are likely to open higher on Thursday. At 8:05 am, the SGX Nifty was trading nearly a percent higher, indicating a positive start for the Sensex and Nifty50. On Wednesday, the <keyword id="70622" type="ORGANIZATION" weightage="20" keywordseo="Dow-Jones-Industrial-Average">Dow Jones Industrial Average</keyword> gained 1.05%, to 27,976.84 points. These are the stocks to watch out for during the trading session on August 13: Tata Power The board of Tata Power has approved the merger of its wholly-owned subsidiary Coastal Gujarat Power Ltd, into the parent company to provide financial relief as it continues to face losses. Gujarat Power operates the ultra mega power plant at Mundra. Besides that, the company on Wednesday posted a consolidated net profit of ₹268 crore, up 10% compared to the same quarter last year. The shares of Tata Power ended nearly 3% higher yesterday. <keyword id="146218" type="COMPANY" weightage="20" keywordseo="Britannia-Industries">Britannia Industries</keyword> According to a stock-exchange filing Britannia Industries has allotted ‘commercial papers’ for an aggregate amount of ₹300 crores on August 12, with tenure of 12 months. Commercial paper is an unsecured debt instrument issued typically for the financing of a firm’s short-term liabilities. The shares of Britannia Industries ended over 2% lower yesterday. <keyword id="6357252" type="COMPANY" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> Hero MotoCorp is slated to report its first quarterly earnings, today. According analysts, the company is expected to see a 66% revenue dip, and over 88% fall in its profit. The shares of Hero MotoCorp ended over 2% higher yesterday. Ashok Leyland <keyword id="120582" type="COMPANY" weightage="20" keywordseo="Hinduja-Group">Hinduja Group</keyword> flagship firm Ashok Leyland reported a consolidated net loss of ₹388.82 crore for the first quarter ended June 30. The company’s revenue from operations in April-June 2020 significantly declined to ₹1,486.04 crore as compared with ₹6,588.23 crore in the year-ago period. The shares of Ashok Leyland ended nearly 4% higher yesterday. Aurobindo Pharma Drugmaker Aurobindo Pharma’s net profit was up 22.81% to ₹780.68 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in the US market. The shares of Aurobindo Pharma ended nearly 1% lower yesterday. <keyword id="6363556" type="DOMAIN" weightage="20" keywordseo="indiabulls">Indiabulls</keyword> Housing Finance Sameer Gehlaut has stepped down as the Executive Chairman of Indiabulls Housing Finance (IBH). The company has appointed former RBI deputy governor SS Mundra as its non-executive chairman with immediate effect. The shares of Indiabulls Housing Finance ended over 2% higher yesterday. Mahindra &amp; Mahindra Financial Services Mahindra &amp; Mahindra Financial Services has raised ₹3,088.82 crore through a rights issue which was oversubscribed approximately 1.3 times. The rights issue of the deposit-taking non-banking finance company closed on Tuesday. The shares of Mahindra &amp; Mahindra Financial Services ended nearly 1% higher yesterday. Eicher Motors, GAIL India, Grasim Industries, Aditya Birla Fashion These companies are slated to report their first quarterly earnings today. SEE ALSO:<a href="https://www.businessinsider.in/india/news/interglobe-aviation-indigo-shares-gained-over-9-after-the-company-decides-to-lease-back-12-of-its-aircrafts/articleshow/77500385.cms" data-type="tilCustomLink"> IndiGo shares rally over 9% after the company decides to lease back 12 of its aircrafts</a> <a href="https://www.businessinsider.in/tech/news/it-only-takes-50-tweets-to-find-a-troll-on-twitter/articleshow/77512151.cms" data-type="tilCustomLink">It only takes 50 tweets to find a troll on Twitter</a>

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Tata Power net profit up 31% to ₹1,189 crore in June quarter

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Tata Power rallies over 7% after 2-fold jump in Q4 profit

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Tata Power posts over two-fold jump in Q4 net to Rs 475 cr

PTI

Tata Power shares jump 4% after company takes over Odisha’s power distribution and announces plans to reduce debt

Navdeep Yadav

Tata Power shares gain nearly 4 pc on 2-fold jump in Q4 profit

PTI

'COVID-19 wake up call for solar industry, need to set up more mfg facilities in India'

PTI

Tata Motors Q4 consolidated net profit jumps over 3-fold at ₹17,528.59 crore

PTI

IT Companies Improve India Inc's Operating Profit Margins In Q1

Economic Times

Top stocks to watch today— Britannia, Hero MotoCorp, Ashok Leyland, M&M Financial, Indiabulls Housing and more

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