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ADIA to invest Rs 665 cr in Aditya Birla Health Insurance for 9.99% stake

The boards of Aditya Birla Capital and Aditya Birla Health Insurance have approved a proposal of capital infusion to the tune of Rs 665 crore in the later from a subsidiary of Abu Dhabi Investment Authority (ADIA), the company said in a late-night statement.

Aditya Birla Health Insurance is a 51:49 joint venture between Aditya Birla Capital Limited and Momentum Metropolitan Strategic Investments, a wholly owned subsidiary of South African based Momentum Metropolitan Holdings Limited (MMH).

Discount broker Zerodha faces snag in early trade, issue resolved

Discount broker Zerodha's customers faced difficulties with the app on Thursday morning

A company spokesperson said the price was not ticking for a few customers, and the issue has been fixed now. Some of the affected customers took to social media to complain about the app not working early into trade and shared screenshots of the troubles.

Adani Group plans to invest Rs 57,575 crore in two Odisha projects

The Adani Group is planning to invest Rs 57,575 crore in Odisha with the state government approving its proposal to set up two projects — a 4 million metric tonnes per annum (MMTPA) Integrated alumina refinery and a 30 MMTPA iron ore (value addition) project.

“Odisha is one of our most strategic states where we have continue to invest and are always appreciative of the support we have received from Chief Minister Naveen Patnaik,” said Gautam Adani, Chairman, Adani Group.

Disney lowers subscriber target after IPL streaming rights loss

Media giant Walt Disney revised its latest subscriber guidance for its streaming service Disney+ Hotstar after losing the streaming rights of the Indian Premier League (IPL) to Reliance-backed Viacom18. The firm revised its subscriber count to 80 million by the end of fiscal 2024 from the projected 100 million.

Aurobindo Pharma Q1 net profit down by 32% to Rs 520.5 cr; revenue up 9.4%

Pharmaceutical company Aurobindo Pharma on Thursday said its consolidated net profit for the quarter ended June 30 was down by 32.4 per cent to Rs 520.5 crore compared to Rs 770 in the first quarter of the last fiscal.

Revenues from operations were up by 9.4 per cent to Rs 6,236 crore during the quarter under discussion compared to Rs 5,702 crore a year ago.

Bata India profit rises 72% to Rs 119 cr; net sales up at Rs 943 cr in Q1

Bata India on Thursday reported a 71.82 per cent rise in consolidated net profit at Rs 119.37 crore for the first quarter of FY23 as the shoemaker achieved the "highest ever quarterly sales".

The company had posted a net profit of Rs 69.47 crore in the April-June quarter a year ago, Bata India Ltd said in a BSE filing. Its revenue from operations during the quarter under review was at Rs 943.01 crore, up over three-fold from Rs 267.04 crore in the pandemic-hit corresponding quarter of FY22.

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