ICICI Bank 

ICICI Bank’s NII came in at Rs 9,280 crore versus Rs 7,737 crore in Q1FY20, while PAT increased by 36% to Rs 2,599 crore on a year on year basis. The provisions came in higher than expected at Rs 7,594 crore versus Rs 5,967 crore QoQ. The moratorium number fell to 17.5.% from the earlier 30%, saw a significant improvement. 

ITC 

The company’s Q1 net profit declined by 25% on a year on year basis to Rs 2,342 crore. The revenue fell by 17.4% but better than the street expectation. Cigarette volumes saw a sharp decline of 37%  due to Covid-19 led lockdown was better than the street estimated 45% decline. The FMCG revenue grew by 10% YoY led by food as well as health and hygiene. Hotel and paper business continued to be under pressure.

Zee Entertainment

Zee declared its Q4FY20 earnings. The company delivered a loss of Rs 785 crore in the quarter compared to a profit of Rs 292.5 crore last year. The total income was clocked in at Rs 1,992 crore versus Rs 2,076 crore on a yearly basis. The impact of the lockdown and conversion of FTA channels to pay and market share loss in certain markets led to weak earnings. 

Infosys

Co-founder SD Shibulal announced that from July 22-24 his family members have sold around 0.20% paid-up equity share capital to their holding in the company.

Cipla

The pharma company got regulatory approval from the Drug Controller General of India for the launch of Favipiravir in the country under the brand name Ciplenza.   

Cadila Healthcare: Covid-19

The company in its Covid update said that the branded formulation business was somewhat affected due to the lockdown situation But the impact of Covid-19 on the business would not be significant. They remain cautiously optimistic about the next two-quarters of FY21. They see certain near-term and mid-term opportunities including treatment medicines and vaccines.