Several Indian companies have announced their latest business updates, revealing a mix of positive and negative trends. Bank of India reported a strong year-on-year growth, with domestic deposits increasing by 8.5% to Rs 7.3 lakh crore and global gross advances rising by 13.9% to Rs 7.1 lakh crore. The bank’s global deposits also saw a 10% uptick, reaching Rs 8.5 lakh crore, while its global business grew by 11.8% to Rs 15.6 lakh crore.
In contrast, Tata Motors reported a decline in sales of its compact SUV vehicle Curvv, with domestic sales plummeting by 35.8% to 5,274 units and production volume decreasing by 39.8% to 5,289 units. Metropolis Health, on the other hand, reported a 23% year-on-year increase in consolidated revenue for the second quarter, with its core diagnostics maintaining a high single-digit margin. The company is also debt-free, with a net cash surplus of Rs 55 crore.
Other companies have made significant announcements, including PNC Infratech, which received the appointment date for two of its projects from the National Highways Authority of India. HCL Technologies has joined the US-based MIT Media Lab to collaborate on AI research, while Garden Reach Shipbuilders & Engineers has appointed a new director of finance and chief financial officer.
Zydus Lifesciences has received approval from Health Canada for its Liothyronine tablets, which are used to treat hypothyroidism. Brigade Enterprises has signed a joint development pact for premium residential projects in Chennai, with an estimated gross development value of Rs 1,000 crore. These updates provide a glimpse into the performance and strategic moves of these Indian companies, highlighting both challenges and opportunities in various sectors. Overall, the announcements reflect the diverse trends and developments in the Indian business landscape.