Top Headlines: Asian Paints Q1 Net Rises 80%; UBS Upgrades RIL Scrip

Asian Paints Q1 net profit jumps 80% to Rs 1,036 cr, sales up 55%

Asian Paints Ltd on Tuesday reported an 80.39 per cent increase in its consolidated net profit to Rs 1,036.03 crore for the first quarter ended on June 30, 2022, as the business grew both in volume and value terms.

The company had posted a net profit of Rs 574.30 crore during the April-June quarter of the previous fiscal, Asian Paints said in a regulatory filing. Read more

Adani Group to invest $70 bn in green energy, infra: Gautam Adani

The Adani Group will invest $70 billion in green energy transition and infrastructure projects, said chairman Gautam Adani on Tuesday as he called for "reshaping India’s energy footprint in an extraordinary way".

"The best evidence which showcased our confidence and belief in the future is our investment of $70 billion in facilitating India’s green transition. We are already one of the world's largest developers of solar power. Our strength in renewables will empower us enormously in the effort to make green hydrogen the fuel of the future," he said at the annual shareholders' meeting of Adani Enterprises, the flagship company of the group. Read more

UBS upgrades RIL scrip to Buy from Neutral, sees up to 30% upside in a year

Swiss brokerage UBS Securities on Tuesday upgraded Reliance Industries Limited's (RIL) shares to buy from neutral with a 12-month price target of Rs 2,900-Rs 3,150.

On Tuesday, the scrip was changing hands at about Rs 2,438.

According to UBS, the key among Reliance Industries' stock price performance drivers are new investment opportunities to deploy large cash flows profitably. Read more

EV fire incidents: Consumer protection regulator issues notices to 4-5 cos

Consumer protection regulator CCPA on Tuesday said it has issued notices to 4-5 Electric Vehicle (EV) manufacturers, taking suo moto cognizance of consumer complaints regarding series of battery explosions in EVs.

Central Consumer Protection Authority (CCPA) Chief Commissioner Nidhi Khare said the authority will commence the hearing on this matter soon. Read more

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor