HDFC Life Insurance board of directors will conduct a meeting on July 29 to discuss generation of funds via issuing equity shares or other securities through preferential issue. The private sector insurer posted about 22% YoY growth in its PAT at Rs 328.79 cr in Q1FY23 thanks to a healthy rise in annualised premium equivalent (APE) and a significant decline in Covid-related claims.

United Spirits logged more than a five-fold jump in its consolidated net profit to Rs 261.1 crore in Q1FY23. The Diageo-controlled liquor maker registered a net profit of Rs 50.3 crore in the April-June quarter a year ago. The company's revenue from operations surged by 15.6% to Rs 7,131.3 crore in Q1FY23 in comparison to Rs 6,168.5 crore in the corresponding period of FY22.

Sanofi India's standalone net profit tanked by 32.47% to Rs 120.40 crore in the quarter ended June 2022 in comparison to Rs 178.30 crore during the previous quarter ended June 2021. The company's sales also plunged by 11.38% to Rs 699.30 crore in the quarter ended June 2022 as compared to Rs 789.10 crore during the previous quarter ended June 2021.

The University of Pennsylvania's Wharton School is set to be the first Ivy League business school to launch a certification in the metaverse. In a first-of-its-kind certification program titled "Business in the Metaverse Economy," the university will offer a six-week crash course on topics like VR technologies and blockchain-based worlds like The Sandbox and Decentraland.

Kraken, one of the world’s largest cryptocurrency exchanges, is under investigation by the Treasury Department. The exchange is suspected of violating U.S. sanctions by allowing users in Iran and other banned countries to buy and sell digital tokens. Sources reportedly said that Kraken has continued to serve users in Iran, Syria, and Cuba despite the U.S. sanctioning the three countries.

Tata Hitachi's top official reported that the company is building up its product portfolio to accomplish a topline of Rs 4,800-5,000 crore by 2023-24 fiscal (FY24). Despite subdued demand due to COVID-induced headwinds, the company clocked a revenue of around Rs 4,000 crore in the financial year 2021-22. The situation is improving, and the demand for construction equipment has been rising.

For the second day in a row with Sensex reaching below 55,300 mark and Nifty 50 erasing 16,500 level, the Indian market tumbled wiping out the strong gains of traders even from the previous week. In just two trading sessions, nearly ₹3.54 lakh crore of investors' wealth has been wiped out on BSE. Markets are yet to face another rate hike from the Fed to tame the multi-decadal high inflation.

The Chairman-cum-Managing Director, M Senthilnathan, ECGC Ltd, reported that the process to list the state-owned entity would start in the last quarter of the current fiscal. Earlier, the government hinted that its public listing will hit the market after the IPO of LIC. The company now awaits the next directions as its initial review has been done by DIPAM.

Amit Syngle, CEO and MD, Asian Paints, showed concern over the significant rise in prices of crude-linked derivatives during the financial year 2022. Even though the crude prices plunged, rising inflation was the cause of concern. The company's management has taken a judicious approach of announcing a price hike of 2.5% in Q2 after raising the prices of its products by 2% in Q1.

Larsen & Toubro Ltd has continued to maintain its FY23 revenue, and order inflow growth guidance at 12-15%. Despite the robust performance of the company in the first quarter of 2022-23, it does not aim to revise revenue upwards, and the reason is slowed global growth rate as per CFO R Shankar Raman. Although, it witnessed the highest ever order book at Rs 3,63,448 cr during seasonally weak June.

Union Minister for Telecom Ashwini Vaishnav said that on the first day of the 5G spectrum auction, the government expected revenue of around Rs 1.45 lakh crore. He added that the response on Day 1 proved that the telecom industry has recovered from its tough times, as the mid and high bands-3,300 MHz and 24 GHz attracted the highest interest from the bidders. 720 MHz Low band too got bids.

A case about alleged insider trading in the shares of Varun Beverages has been settled with markets regulator Sebi by Spank Management Services and Patanjali Govind Keswani. They resolved the matter by paying a settlement amount of Rs 73 lakh to SEBI, which comprises Rs 50.7 lakh, Rs 14.58 lakh as disgorgement amount, and Rs 7.55 lakh as interest.

The Managing Director of Tata Steels, TV Narendran assumes higher debt for the company for the current quarter ended September 2022 as the payment for acquiring Neelachal Ispat Nigam Limited is echoing in its financials. The company's net debt has gone higher from Rs 54,000 crores to Rs 66,000 crores. But, it expects to bring it down to Rs 45,000 crore by FY 2023.

A one-time special interim dividend of ₹193 per equity share of Rs.10 each for the fiscal year ending Dec 31, 2022, has been announced by Sanofi, a pharmaceutical company. August 8 is fixed as the record date for deciding the eligible shareholders for the special dividend and plans to pay it on or after August 22, 2022. Its shares will turn ex-dividend on August 5 ahead of the record date.

The second-biggest supplier of chips in the automotive industry, NXP Semiconductors NV, predicted its ongoing third-quarter revenue to range between $3.35 Bn to $3.5 Bn, driven by the demand for parts used in cars. Analysts have forecasted a margin of 57.6% where the gross margin after subtracting the cost of production at 58.3%. Its CEO, says the firm is completely sold out through the year-end.