TCS, Power Grid, Avenue Supermarts in spotlight

Tata Consultancy Services (TCS): TCS reported 4.5% fall in consolidated net profit to Rs 9,478 crore despite a 4.3% rise in revenue from operations to Rs 52,758 crore in Q1 FY23 over Q4 FY22.

Power Grid Corporation of India: The company has been declared as the successful bidder under Tariff based competitive bidding to establish Inter-State transmission system for "Transmission System for Evacuation of Power from Neemuch SEZ" on build, own operate and transfer (BOOT) basis.

Avenue Supermarts: On a consolidated basis, total revenue for the quarter ended 30 June 2022 stood at Rs.10,038 crore, as compared to Rs.5,183 crore in the same period last year. Net profit stood at Rs.643 crore for Q1FY23, as compared to Rs.95 crore in the corresponding quarter of last year.

Dr. Reddy's Laboratories: The company along with its subsidiaries announced the launch of Dr. Reddy's Fesoterodine Fumarate Extended-Release Tablets, a therapeutic generic equivalent to Toviaz (fesoterodine fumarate) Extended-Release Tablets in the U.S. market following the approval by the U.S. Food and Drug Administration (USFDA).

Zydus Lifesciences: Zydus Lifesciences has launched the molecule Sitagliptin in India under the brand names Sitaglyn and Siglyn to address Type 2 diabetes in India. Sitaglyn and Siglyn will add on to a comprehensive solution for the management of Type 2 diabetes by providing access to quality care to the patients at an affordable cost, approximately 60% lesser than the originator.

Hindustan Aeronautics: Hindustan Aeronautics and Safran Helicopter Engines have signed an agreement to create a new joint venture intended to develop helicopter engines. The both partners will extend their long-lasting partnership by establishing a new aero-engine company in India.

Lemon Tree Hotels: The company has signed a License Agreement for a 51 room hotel at Anjuna, Goa under the company's brand 'Lemon Tree Hotels'. The hotel is expected to be operational by March, 2023.

City Union Bank: City Union Bank has entered into a Bancassurance Agreement with TATA AIA Life Insurance and Shriram General Insurance for distribution of their products through the branch network of the bank.

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