Ashok Leyland reported a decline in earnings but guided a strong annual outlook. Tech Mahindra revenue and earnings rose but fell short of market expectations. Canara Bank's net interest income and net income rose in the latest quarter.
IDBI Bank reported higher quarterly income because of a one-time benefit in taxes and lower credit loss provisions. Axis Bank said quarterly profit rose from a year ago but declined from the previous quarter. L&T reported a double-digit increase in quarterly sales and net income.
Rail, power, and shipping stocks were in focus ahead of the release of the Union Budget. Suzlon reported that revenue and net profit in the June quarter soared amid rising demand for wind turbines.
Tata Technologies reported weak quarterly results. Rallis India and Infosys reported a sharp decline in profit in the latest quarter. Shoppers Stop's net income in the June quarter swung to a net loss.
Asian Paints reported a decline in earnings and revenue in the June quarter amid heightened competition. Just Dial reported a surge in earnings after revenue rose by double digits. KEC Electric won several orders for transmission and distribution projects.
HCL Technologies reported a decline in revenue and earnings in the June quarter but held out for higher revenue in the current fiscal year. Avenue Supermarts reported a double-digit increase in revenue and earnings in the latest quarter.
Kesoram Industries said net losses in the latest quarter expanded. Tata Elxsi said revenue in the June quarter edged slightly higher, but net income decreased. State Bank of India completed its sixth infrastructure bond offering.
Life insurance companies reported strong gains in monthly new premium revenue in June. Container Corporation of India said container throughput increased by double digits in June.
Titan Company said sales in the June quarter rose on strong demand for jewelry and watches. Bank of Baroda and IndusInd Bank reported healthy gains in deposits and new loans.
GE T&D won an order to supply power equipment to a company in France. Cell World launched an institutional offering. Bajaj Finance reported a double-digit increase in new loans, deposits, and assets under management.
Force Motor said unit sales in June declined by 3%. M&M Financial said new loan volume increased by 5% in the June quarter. Zomato abandoned its plan to launch a financial services unit.
Vehicle makers reported weak sales in June amid broad demand weakness and lack of new products. NMDC lowered prices for iron ore. Sakuma Exports approved 4-to-1 bonus issue.
UltraTech Cement has launched additional cement production capacity in Andhra Pradesh. Bank of Baroda said it plans to appeal the latest tax demand. Vodafone and Bharti Airtel plan to hike monthly tariffs following the increase announced by Reliance Jio.
Reliance Industry's Jio hiked the monthly tariff by as much as 25% for wireless subscriptions. BHEL won a power plant order in Jharkhand. The Raymond Board reappointed Gautam Singhania as the company's managing director.
