RIL, Wipro, Bharti Airtel in spotlight

July 15,2020

Reliance Industries (RIL) will hold its 43rd annual general meeting (AGM) today, 15 July 2020.

Wipro reported a 2.76% rise in consolidated net profit to Rs 2390.40 crore on a 5% decline in revenue from operations to Rs 14913.10 crore in Q1 June 2020 over Q4 March 2020. Consolidated profit before tax (PBT) stood at Rs 3095 crore in Q1 June 2020, rising 4.3% from Rs 2965.8 crore in Q4 March 2020.

Wipro signed an agreement to acquire Brazil based IVIA Servi├žos de Inform├ítica. IVIA's local talent and long-standing relationships combined with Wipro's global expertise will help expand the geographical footprint in Brazil. The acquisition will also help Wipro set up delivery centres in the North East of Brazil leveraging IVIA's workforce. The acquisition is subject to customary closing conditions and is likely to be completed in the quarter ending September 30.

Infosys announces its Q1 result today, 15 July 2020.

Bharti Airtel and Verizon, one of the largest communication technology companies in the world, announced a strategic alliance to bring secure, world-class video conferencing solutions to businesses in India. As part of this partnership, Airtel will offer secure enterprise-grade video conferencing solutions under the brand name - Airtel BlueJeans - to enterprise customers in India.

Emami said that the group has completed sale of Emami Cement to Nuvoco Corporation for an enterprise value of Rs 5,500 crore. The deal was completed with the transfer of 100% of Emami Cement shares to Nuvoco Corporation (NVCL) by Emami Group on 14th July 2020.

Yes Bank said that the Capital Raising Committee of the Board of Directors of the Bank (CRC) , approved the allocation of 3,415,384,614 equity shares at Rs 12 per share to 12 anchor investors. Yes Bank's further public offer (FPO) of around Rs 15,000 crore will open on July 15, 2020, and close on July 17, 2020. The bank has fixed a price band of Rs 12 to 13 per equity share.

Oberoi Realty reported 81.54% fall in consolidated net profit to Rs 28.07 crore on 79.28% fall in total income to Rs 128.34 crore in Q1 June 2020 over Q1 June 2019.

Delta Corp reported consolidated net loss of Rs 28.24 crore in Q1 June 2020, as compared to net profit of Rs 42.48 crore in Q1 June 2019. Total income dropped 68.51% to Rs 61.31 crore.

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