Jun 7, 2021By: Rounak Jain
India’s largest airline saw its losses widen to ₹1,147 crore against ₹871 crore a year ago. This is the fifth straight quarterly loss.
With rising oil prices and a debilitating second wave, the April-June quarter may also be painful for the airline.
Shares of the company are up by over 19 percent, two days after the company announced that consumers in Mumbai can switch to green energy.
Avenue Supermarts, PVR, United Spirits, Indian Hotels Company, Maruti Suzuki among others could gain from COVID-19 unlocking in Mumbai and Delhi.
State-owned oil marketing companies Indian Oil, Hindustan Petroleum, Bharat Petroleum are likely to benefit from a surge in crude oil prices.
The non-banking lender said its non-performing assets i.e. unpaid loans, could rise by October, and credit cost may rise by ₹1,300 crore.
Its total production in May 2021 surged to 40,924 vehicles, from 3,714 vehicles a year ago when production was halted by a strict nationwide lockdown.
The May 2021 output of 40,924 vehicles would be comparable to the 1,59,955 units the country’s largest car maker produced in April 2021.
MRF, Mrs Bectors Food Specialities, Central Bank of India, Dynamatic Technologies, Fairchem Organics, The New India Assurance Company, Jubilant Ingrevia, SMC Global Securities, Union Bank of India.
The troubled bank reported a net profit of ₹586 crore in the March 2021 quarter, against a loss of ₹697 crore a year ago. Net interest income rose by 1.9 percent to ₹6,938 crore, year-on-year.
It reported a fall in net profit in the March 2021 quarter to ₹214 crore from ₹260 crore a year ago. Revenue increased marginally to ₹1,552 crore from ₹1,497 crore, year-on-year.
It has approved fundraising of ₹551 crore via preferential allotment of shares to the promoters and Varde Investment Partners.
Its subsidiary Tata Steel Mining has been declared as the successful resolution applicant for acquiring Rohit Ferro-Tech.
Integrated Core Strategies Asia sold 6.1 million shares of the company at ₹218.38 per share.