Several prominent companies are making headlines due to recent financial results, strategic decisions, and market movements. Here's a summary of the key developments.
Bajaj Finance
Bajaj Finance reported a consolidated net profit increase of 22% year-on-year, reaching Rs 4,765 crore for the first quarter. Net interest income also rose by 22% to Rs 10,227 crore. The company added 4.69 million new customers, expanding its customer base significantly. Assets under management (AUM) surged to Rs 4.41 lakh crore. However, there was a slight increase in non-performing assets (NPAs). Gross NPAs stood at 1.03%, up from 0.86% a year ago, while net NPA increased to 0.50% from 0.38%. Loan losses and provisions also rose by 26% to Rs 2,120 crore. The company aims to disburse over 50 million new loans in FY26. However, the company flagged "unexpected" stress in its unsecured micro, small and medium enterprises (MSME) loan portfolio. Anup Saha resigned as managing director just three months after his appointment.
SBI Life Insurance
SBI Life Insurance reported a 14% rise in Q1FY26 net profit to ₹594 crore. Net premium revenue also increased by 14% to ₹17,178 crore, driven by new business and renewal premiums. New Business Premium (NBP) reached ₹7,270 crore, a 3% rise from Q1FY25. Gross Written Premium (GWP) was recorded at ₹17,810 crore, reflecting a 14% increase. The company's Asset Under Management (AUM) grew 15% to ₹4,75,810 crore. The board approved the re-appointment of Amit Jhingran as MD & CEO. However, profit after tax (PAT) dropped by 27% on a sequential basis.
Cipla
Cipla received USFDA approval to market a generic version of the cancer drug Abraxane. The company is also preparing to enter the weight management segment in India. Cipla is investing ₹5 crore to acquire a 20% stake in Icaltech Innovations, a medical devices company specializing in respiratory care diagnostics. Revenue growth projections range from 3.6% to 9% YoY, driven by strong domestic sales but offset by declining US generics business. US revenue is projected to decline 12-13% YoY due to lower gRevlimid prices, while domestic formulations segment is forecasted to grow 8-9% YoY.
IEX (Indian Energy Exchange)
IEX announced a 20.9% increase in net profit for Q1FY26, reaching ₹113 crore. Revenue from operations also rose by 13.2% to ₹139.9 crore. However, IEX shares closed 29.49% lower after the Central Electricity Regulatory Commission (CERC) announced it would implement market coupling from next year onwards. CERC will implement the coupling of the day-ahead market (DAM) of power exchanges in a round-robin mode by January 2026.
Wipro
Wipro's ADRs rose after the company reported an 11% YoY increase in Q1FY26 net profit to ₹3,330 crore. Revenue grew 0.7% to ₹22,134 crore. The Board of Directors approved an interim dividend of Rs. 5 per equity share. Wipro anticipates sequential revenue to range from a 1% decline to a 1% increase for the September quarter. Wipro secured a multi-year contract with Saudi Electric Company to implement a Smart Meter Data Management system.
Adani Enterprises
Adani Enterprises will divest 50% of its copper tubes business to MetTube, while simultaneously acquiring a 50% stake in MetTube's Indian unit. Adani Group divested its 20% stake in AWL Agri Business Limited to Wilmar International for ₹7,150 crore. Adani Energy reported a consolidated net profit of Rs 512 crore in the June quarter, compared to a loss of Rs 824 crore in the same period last year. Adani Enterprises is partnering with MetTube for copper tubes business.
