Stock market movers on Monday include HCLTech, which has expanded its partnership with Aurobay Technologies.
HCLTech said it would provide a comprehensive set of cloud-based services to Aurobay, including infrastructure, application development and deployment, security, and support.
The company also announced that it had signed a 5-year cloud deal with the US-based firm.
Another stock in focus is Can Fin Homes, which has approved an interim dividend for the second quarter of the fiscal year 2023-24. The company will pay an interim dividend of Rs 2 per share, amounting to Rs 16 crore.
Additionally, state-owned lender SBI signed a credit line with KfW, a German development bank, to support small businesses and startups in India.
Zydus Lifesciences has announced that its API synthesis business is being sold to an Indian company for an undisclosed amount. The sale includes the entire portfolio of active pharmaceutical ingredients (APIs) produced by Zydus at its Halol plant.
RBL Bank reported a 12% year-on-year increase in net profit, driven largely by growth in its non-food business.
The bank’s net profit for the second quarter of the fiscal year 2023-24 stood at Rs 1,444 crore, up from Rs 1,300 crore in the same period last year. RBL Bank has announced plans to raise an additional Rs 2,500 crore through a rights issue.
ION Exchange India Limited, a stock exchange operator, reported a significant jump in its net profit on Monday.
The company’s net profit for the second quarter of the fiscal year 2023-24 increased by 42% to Rs 1,221 crore from Rs 863 crore in the same period last year. ION Exchange has announced plans to acquire another stock exchange operator in India for around Rs 1,300 crore.
KNR Constructions, a construction company listed on BSE, is under investigation by regulators over allegations of financial irregularities.
The Securities and Exchange Board of India (Sebi) issued a notice to the company’s promoters and directors, seeking information about the alleged irregularities. The development has caused concern among investors in KNR Constructions’ shares.
KfW, which signed a credit line with SBI on Monday, is one of the largest private sector lenders to India.
The German development bank provides financing for small and medium-sized enterprises in developing countries, including India. The agreement with SBI will support Indian companies working on projects in Africa and Asia.
“We are committed to supporting small businesses and startups in India through our partnership with SBI,” said a KfW spokesperson. “The credit line will provide access to financing for these entrepreneurs who need it most.”
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