🇮🇳 India Daybook: RIL & HDFC Bank Post Strong Q3, Engineers India Bags $350M Order

📍 Q3 EARNINGS RECAP

• Reliance Industries: Reported a consolidated net profit of ₹18,645 crore for the December quarter, supported by robust fuel margins in the O2C segment and steady growth in Jio-bp volumes. Revenue rose to ₹2.65 lakh crore.
• HDFC Bank: The lender posted an 11.5% YoY growth in net profit to ₹18,653 crore. Net Interest Income (NII) grew 6.4% to ₹32,615 crore, while asset quality remained stable with a Net NPA of 0.42%.
• ICICI Bank: Reported a 4% YoY decline in net profit to ₹11,318 crore, primarily due to increased provisions for agricultural priority sector loans as directed by the RBI. NII grew 7.7% to ₹21,932 crore.
• Wipro: Consolidated net profit dipped 7% YoY to ₹3,119 crore. The company declared an interim dividend of ₹6 per equity share and reported IT services margins of 17.6%.
• Tata Technologies: Reported a significant 96% YoY crash in consolidated net profit, which fell to ₹6.6 crore from ₹169 crore in the same quarter last year.

📍 Q3 RESULTS TODAY

• Key Earnings: Over 230 companies are scheduled to report today, including Bharat Heavy Electricals (BHEL), Hindustan Zinc, Havells India, IRFC, LTIMindtree, Punjab National Bank (PNB), Ceat Ltd, and Oberoi Realty.

📍 ORDER WIN

• Engineers India: Secured a massive $350 million (approx. ₹2,900 crore) contract from the Dangote Group to serve as the management consultant for a major refinery project in Africa.

📍 IPO & LISTING

• Bharat Coking Coal (BCCL): The subsidiary of Coal India will list on the BSE and NSE today. The ₹1,071 crore IPO was oversubscribed 146.87 times, with the QIB portion seeing a massive 310x subscription.

📍 ACQUISITION & JV

• Indian Hotels: Successfully completed the acquisition of a 51% stake in Sparsh Infratech for ₹232 crore.
• Mphasis: Its UK arm, Mphasis Consulting, has acquired the remaining 49% stake in Mrald, making it a wholly-owned subsidiary.
• Bajaj Finserv: Announced the termination of its long-standing joint venture agreement with Allianz SE for their insurance businesses.

📍 REGULATORY & OTHERS

• InterGlobe Aviation (IndiGo): The DGCA has imposed a penalty of ₹22.20 crore on the airline for regulatory lapses.
• Vedanta: The board has approved a corporate guarantee of ₹1,725 crore for its subsidiary, Ferro Alloy Corporation.
• Nestle India: Appointed Edouard Mac Nab as the new Chief Financial Officer (CFO), effective March 1, 2026.
• Asian Paints: Reduced its stake in Asian White Cement Holding to 60% from the previous 70%.

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