Business
Infosys raises its FY25 sales forecast to 3.75-4.5%, indicating a demand revival. Q2 net profit is Rs 6,506 crore, reflecting a 4.7% year-on-year increase.
Axis Bank's Q2 net profit rose 18% to Rs 6,918 crore. Asset quality improved, with a gross NPA ratio of 1.44%.
Bharat Forge has acquired AAM India Manufacturing for Rs 544.5 crore, bolstering its position in the commercial vehicle axle sector and expanding its offerings.
Zomato's board will consider raising funds through a QIP on October 22. This decision follows a solid Q1 FY25 performance, where the company reported a profit of Rs 253 crore.
Adani Enterprises raised Rs 4,200 crore through a QIP, oversubscribed by 4.2 times. The funds will be used for capital expenses and debt repayment.
Reliance Industries forms a joint venture with Mothercare, acquiring a 51% stake for £16 million to strengthen its market presence in South Asia.
HDFC Securities launches HDFC Tru to enter the wealth advisory market, focusing on high-net-worth individuals and family offices in smaller cities.