Motilal Oswal Financial Services Limited

1) Crompton Greaves Consumer Electricals Ltd on reported a 28% increase in consolidated net profit at Rs 141.68 crore for the quarter ended September 2020. Revenue from operations climbed 13% to Rs 1,213.19 crore during the 2Q2020 , as against Rs 1,075.79 crore in the same period previous fiscal. Total expenses were at Rs 1,040.73 crore as against Rs 961.60 crore earlier, up 8%. 2) Flipkart is buying 7.8% stake in Aditya Birla Fashion for Rs 1500 crore at Rs 205 per share. The Aditya Birla Fashion board approved the issuance of equity shares on a preferential basis to Flipkart Investments Private Limited, a foreign portfolio investor, aggregating to Rs 1500 crore. The promoter and promoter group companies of ABFRL will hold about 55.13% upon completion of the issuance. #MOMarketUpdates #MotilalOswal #indianStockMakret #AdityaBirla #FLipkart #Nifty #sensex #CromptonGreaves