Buzzing Stocks Today: SBI, Adani Group, Asian Paints, Canara Bank – A Closer Look
SBI
In a significant financial move, the State Bank of India (SBI) is gearing up to raise a substantial amount of up to Rs 10,000 crore (approximately $1.20 billion) by issuing Basel III-compliant tier-II bonds with a 15-year maturity period. This promising development was revealed by three esteemed merchant bankers on Thursday, shedding light on SBI’s strategic financial plans.
Adani Group
In a noteworthy development, the Adani Group, led by billionaire Gautam Adani, is actively seeking an impressive $4 billion in funding to spearhead the establishment of cutting-edge manufacturing plants dedicated to the production of cost-effective green hydrogen. This forward-thinking endeavor is set to make waves in the pursuit of cleaner and more sustainable energy sources, and we’ve got all the details you need to know.
Asian Paints
Asian Paints shared its Q2 results on Thursday. They earned 8,643.77 crores in revenue this quarter, but that’s less than the 9,379.38 crores they made last quarter. The company’s growth decreased by 7.84 percent when comparing the two quarters. In terms of profits, the company’s PAT (Profit After Tax) for this quarter was 1,232.39 crores, down from 1,574.84 crores in the previous quarter. Their quarter-to-quarter growth decreased by 21.75 percent.
Canara Bank
Canara Bank shared its Q2 results on Wednesday. They earned 31,472.18 crores in revenue this quarter, but that’s more than the 29,823.08 crores they made last quarter. The bank’s growth increased by 5.53 percent when comparing the two quarters. In terms of profits, Canara Bank’s PAT (Profit After Tax) for this quarter was 3,606.14 crores, up from 3,534.84 crores in the previous quarter. Their quarter-to-quarter growth inclined by 2.02 percent.
Reliance Industrial Infra
Reliance Industrial Infra shared its Q2 results on Thursday. They earned 20.85 crores in revenue this quarter, but that’s more than the 20.63 crores they made last quarter. The company’s growth increased by 1.07 percent when comparing the two quarters. In terms of profits, the company’s PAT (Profit After Tax) for this quarter was 3.18 crores, up from 2.82 crores in the previous quarter. Their quarter-to-quarter growth increased by 12.77 percent.
Vodafone Idea
Vodafone Idea shared its Q2 results on Thursday. They earned 10,750.8 crores in revenue this quarter, but that’s less than the 10,676.8 crores they made last quarter. The company’s growth decreased by 0.69 percent when comparing the two quarters. In terms of profits, the company’s PAT (Profit After Tax) for this quarter was -8737.9 crores, down from -7840.00 crores in the previous quarter. Their quarter-to-quarter growth decreased by 11.45 percent.
Colgate India
Colgate India shared its Q2 results on Thursday. They earned 1492.10 crores in revenue this quarter, but that’s more than the 1338.64 crores they made last quarter. The company’s growth increased by 11.46 percent when comparing the two quarters. In terms of profits, the company’s PAT (Profit After Tax) for this quarter was 340.05 crores, up from 273.68 crores in the previous quarter. Their quarter-to-quarter growth increased by 24.25 percent.
Zen Technologies
In a remarkable development, Zen Technologies Limited has secured a significant Rs 100 crore contract, inclusive of GST, from the Ministry of Defence (MoD) for their cutting-edge force-on-force tank training system. This innovative system allows tank units to conduct realistic training exercises in actual terrains without the use of live ammunition. The official announcement was made through a company filing on Thursday, creating a buzz in the defense technology sector.
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