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Here are the top stories to start your day.
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⭐ Adani Group to invest in green energy
Adani Group is planning to invest $70 billion in green energy and infrastructure projects. The company is one of the world's largest producers of solar power and aims to make green hydrogen the fuel of the future.
⭐ L&T posts huge profit
Infras major L&T posted a 45% year-on-year (YoY) jump in consolidated net profit to ₹1,702 crore in Q1. The rise in profit is due to strong growth in the infrastructure segment. Meanwhile, consolidated revenue from operations jumped by 22% YoY to ₹35,853 crore. It bagged orders worth ₹41,805 crore at the group level, a jump of 57% YoY.
⭐ Union Bank eyeing big recoveries
Public sector lender Union Bank of India is eyeing recoveries worth ₹15,000 crore in FY23, the management said. The bank reported a 32% YoY jump in its net profit to ₹1,558 crore. The rise was due to lower provisions and stable asset growth. Meanwhile, net interest income grew 8% YoY to ₹7,582 crore. The bank is also aiming at lowering its gross bad-loan ratio to below 9% by the end of this fiscal from 10.22% as of 30 June.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.02% |
| Nikkei 225 (Japan) | ▲ 0.14% |
| Hang Seng (Hong Kong) | ▼ 1.19% |
| SSE Composite (China) | ▼ 0.13% |
| Dow Jones (US) (July 26) | ▼ 0.71% |
| NYSE (US) (July 26) | ▼ 0.69% |
| Nasdaq (US) (July 26) | ▼ 1.87% |
| S&P 500 (US) (July 26) | ▼ 0.15% |
Fact of the day
India is the second-largest mobile phone maker in the world, with phones worth ₹5,277 crore manufactured in FY22.
Source: Moneycontrol.com