: Tata Group’s IT major will officially kick off India Inc’s revenue season. It will report its results for the quarter ended September 30, 2022. JTL Infra,
and include companies September 2022 quarter.
HDFC: India’s largest mortgage lender will raise to Rs 12,000 crore next week by issuing bonds on a private placement basis. The size of the basic issue is Rs 1,000 crore with an option to keep a subscription of up to Rs 11,000 crore.
HCL technologies: The IT company plans to hire 1,300 people in Mexico over the next two years. The move is expected to bolster that country’s current workforce of 2,400 people.
: The FMCG company has cut the prices of some soap brands by up to 15 percent, while palm oil and other commodities are becoming relatively cheaper. HUL has reduced the prices of its offerings under the popular soap brands Lifebuoy and Lux in the western region by 5 to 11 percent.
Tata engines: Jaguar Land Rover, a homegrown auto company, reported a 4.9 percent decline in retail sales to 88,121 units in the second quarter ended September 30, 2020. The company had posted retail sales of 92,710 units in the same quarter last fiscal year.
: The subsidiary of the state-owned company Bhind Guna Transmission has successfully commissioned the transmission system in Madhya Pradesh. The subsidiary has been commissioned to set up a transmission system for intra-state transportation work in connection with the construction of a 400 kV substation.
Ambuja cements: The cement player said it has secured shareholder approval for all proposals at its EGM including a resolution to raise Rs 20,000 crore from an Adani group company and the appointment of Gautam Adani and others to the board of directors from the company.
: The FMCG company has cut the prices of some soap brands by up to 11 percent as palm oil and other commodities become relatively cheaper. Godrej Group branch GCPL, which owns soap brand Godrej No 1, has also slashed the prices of soap by 13 to 15 percent.
Tata Power: The Tata Group company said it plans to develop about 10,000 MW of renewable energy capacity, mainly solar, in Rajasthan over the next five years, as well as build robust charging infrastructure for electric vehicles. Tata Power plans to have a 10,000 MW renewable energy portfolio in the state (Rajasthan in the next five years).
: The real estate company added four lots in the Mumbai and Pune regions in the September quarter to develop housing projects with a turnover potential of Rs 3,100 crore. Macrotech Developers sells its properties under the Lodha brand.
: The health insurer posted a gross direct premium of Rs 5,655.1 crore for the quarter ended September FY23, up 12 percent from a year ago, with the health retail segment registering a 21 percent year-over-year growth at Rs 4,306.4 crore .
Bandhan sofa: The private lender said its collection efficiency ratio (CER) had risen to 97 percent by the end of the second quarter of the current fiscal year, excluding NPAs and including restructured accounts. The bank’s CER stood at 96 percent at the end of the first quarter of fiscal 2022-2023.
IDBI bank: The government invited bids for the privatization of the lender and said it will sell a total of 60.72 percent of the shares in the financial institution with LIC. DIPAM inviting Expressions of Interest (EoI) said the potential investor should have a minimum net worth of Rs 22,500 crore.
: The mining PSU venture has commenced geological studies and design on the ground for mineral exploration programs over an area of 1,400 hectares in and around Ambaji mining lease in Northeast Gujarat. The Ambaji site is expected to have a significant polymetallic deposit with traces of precious metals.
: The leading NBFC has appointed Vinay Gupta as its Chief Financial Officer. The appointment will take effect from October 26. Gupta’s appointment follows Kapish Jain’s resignation as CFO in April this year. Interim CFO Kaushal Mithani had resigned in August.
Kalyan Jewelers: The jewelry store said it posted 20 percent consolidated sales growth in the second quarter of FY23, despite several economic challenges brought on by the geopolitical situation.
PNC Infratech: The civil construction company has submitted duly executed financing documents for two hybrid annuity projects (Kanpur-Lucknow Expressway Package I & II) to NHAI. Both projects or special purpose vehicles are owned by its subsidiaries Kanpur Lucknow Expressway and Awadh Expressway.
: The logistics company is optimistic about its business prospects and expects to grow at an average of 15 percent annually, mainly driven by organic growth. The company also aims to be among the top 10 players in the global logistics space in the next 3-4 years.
Nureca: Nureca Technology, a subsidiary of the medical device manufacturer, has received ISO certification for nebulizers and blood pressure monitors from Intertek. The company believes this certification will open new avenues for its flagship brand Dr. Trust, allowing it to export these devices to many more countries.
Suzlon energy: The largest wind energy player announced the appointment of Vinod R Tanti as chairman and general manager with immediate effect for the next three years. Vinod Tanti’s appointment comes after the sudden death of his brother and Suzlon Energy founder Tulsi Tanti, who held the position.
: The pharmaceutical player has announced that it has received reach certification for the supply of ethyl acetate to the European markets. The company exports ethyl acetate to more than 40 countries.
: The brewing company reported a total default of Rs 465.66 crore on interest payments and principal repayments on loans from banks, financial institutions and unlisted debt securities like NCDs and NCRPS, for the quarter ended September 30, 2022.
Miracle drug Biotec: The founder and chairman of the drug company Soshil Kumar Jain has passed away. Jain, 89, who had been admitted to Medanta Hospital for the past ten days, went into cardiac arrest. Panacea Biotec informed BSE of his passing, saying, “The sudden and unexpected passing of Soshil Kumar Jain will be an irreparable loss to the company.
Sundaram Clayton: The auto parts maker has sold 8.56 lakh shares of TVS Training and Services, an associated company. This reduced the stake in the company from 30.53 percent to 21.07 percent. These shares were sold for Rs 1.24 crore. It was a related party transaction as Dr Malini Srinivasan is a relative of a director.
: The logistics solutions provider has approved the transfer of movable goods, including trailers and dwarf containers, to Adani Logistics. The transaction fee is Rs 173.97 crore. The company will use the amount to expand its business and purchase new trailers for its new inland container depot in Morbi.
SITI network: The multi-system operators have reported a total default of Rs 913 crore on interest payments and principal repayments on loans drawn from banks for the quarter ended September. This includes principal of Rs 655 crore and interest of Rs 258 crore, according to the Essel group firm.
Ajmera Real Estate & Infrastructure India: The small-cap real estate company reported an 82 percent increase in its sales bookings to Rs 166 crore for the second quarter of this fiscal on better demand. The sales entries amounted to Rs 91 crore in the period from a year ago.
NPR Finance: The financial services company has entered into an agreement for the sale of its wind turbine at Sangli in Maharashtra, and the transaction fee is Rs 1.4 crore.