Pharmaceuticals major Dr. Reddy's Laboratories Ltd. posted a consolidated net profit of INR 14.18 billion in the June quarter, up 1.85% on year. It missed the Street expectations of INR 15.48 billion for consolidated net profit. Its consolidated revenue for the reporting quarter rose 11.4% on year to INR 85.72 billion. The company declared its Apr-Jun results after market hours Wednesday.Register to read
HDFC Bank Ltd. has reduced the marginal cost of funds-based lending rate by 30 basis points on most tenures. The rate was lowered by 30 bps on all tenures except two-year loans, where it was reduced by 35 bps. The revised rates came into effect from Monday, according to information on the bank's website.Register to read
The Securities and Exchange Board of India Monday proposed allowing mutual fund asset management companies to manage pooled non-broad-based funds in a consultation paper on the regulatory framework on permissible business activities by their asset management companies. The regulator has sought comments from stakeholders on the consultation paper by Jul. 28.Register to read
Retail sales of all automobile segments recorded a year-on-year increase in June, with sharp growth seen in sales of three-wheelers and tractors, data released by the Federation of Automobile Dealers Associations showed Monday. Sales of passenger vehicles recorded the lowest growth last month, as the lobby body flagged increased inventory levels. Register to read