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IT services company Tech Mahindra on Thursday reported 23% year-on-year growth in its consolidated net profit at Rs 851 crore in the June quarter.

Morgan Stanley Asia Singapore Pte and Societe Generale purchased 1.25 crore and 71 lakh shares of RBL Bank respectively, worth Rs 447 crore in total via a block deal. The shares were sold by MAPLE II BV at Rs 228 per share, reducing its stake by 7.89% in RBL Bank.

Its assets under management grew 35% on year to Rs. 10,478 crores, while loan disbursement grew 30% on year to Rs. 1,163 crores. About 86% of its portfolio comprises housing loans with average ticket size of Rs 11.6 lakh.

The assets under management in the April-June 2024 quarter stood at Rs 17,773 crore up from Rs 13,337 crore in Q1FY24. It was a 33% year-on-year jump. On a sequential basis, the AUM grew by 12.7% compared to Rs 15,764 crore as at March 31, 2024.

The company, which manufactures specialised engineering equipment for pharmaceutical and chemical sectors in India, will raise the funds through a 100% book building process. It will use proceeds from this offer for capital expenditure, repayment of some existing loans, funding inorganic growth, and for general corporate purposes.

“We launched the second phase of our luxury project in New Gurugram- Privana West, which witnessed strong demand momentum and consequently was entirely sold-out clocking Rs 5,600 crore of new sales bookings,” DLF said in a statement.

During the period under review, expenses surged to Rs 207.28 crore from Rs 68.99 crore a year ago.

Adani Energy Solutions (AESL), formerly Adani Transmission Ltd, on Thursday, reported a consolidated net loss of Rs 1191 crore against a profit of Rs 182 crore for the quarter ended June 30. The loss was on account of an exceptional item.

U.S. indexes opened steady on Thursday, buoyed by robust economic growth data following a downturn influenced by megacap stocks the previous day. The Dow fell slightly to 39,828.63, the S&P 500 edged up to 5,428.70, and the Nasdaq rose to 17,352.64 at the opening bell.