HDFC Bank has reported an 18 per cent year-on-year (y-o-y) increase in standalone net profit in the third quarter on the back of healthy growth in net interest income and other income even as loan loss provisions declined. The private lender posted a net profit of ₹10,342 crore in the reporting quarter (October-December 2021) against ₹8,758 crore in the year ago period.

HCL Technologies

HCL Technologies reported a decline in its consolidated net profit by around 14 per cent year-on-year (YoY) at ₹3,442 crore in the third quarter ending-December, as compared with ₹3,982 crore in the corresponding period the previous year. However, its revenue grew by 16 per cent to ₹22,331 crore in the October-December quarter under review, as against ₹19,302 crore in the same period of 2020.

GAIL India

GAIL India has announced that Central Bureau of Investigation has registered an FIR against ES Ranganathan, Director (Marketing) of the company and other private persons on charges of criminal conspiracy, demand and obtaining undue advantage by public servant, taking undue advantage to influence public servant, bribing public servant etc.

Hero MotoCorp

Hero MotoCorp has announced a new investment of up to ₹420 crore in Ather Energy. Prior to the proposed investment, Hero MotoCorp's shareholding in Ather Energy was 34.8 per cent (on a fully diluted basis). Post the investment, the shareholding will increase and the exact shareholding will be determined upon completion of capital raise round by Ather.

Adani Enterprises

The board of Mumbai International Airport, a step-down subsidiary, Adani Enterprises, has approved the issuance of US Dollar denominated Rule 144A/ Reg S senior secured fixed rate bonds, which may, be issued in one or more tranches overseas and that may be listed on any one or more stock exchanges in India or overseas. The proceeds from the issuance of the notes will be utilised for refinancing of existing debt and to fund capital expenditure requirements of the issuer. The total amount raised will not exceed $1.25 billion.

Metro Brands

Metro Brands has signed an exclusive strategic partnership with FitFlop, a footwear brand that combines style with world-class science, for sale and distribution in India.

Nxtdigital

The board of Nxtdigital has considered and noted an opportunity of NDL & its subsidiaries' Digital (Media, Communication & Broadband) business including HITS platform & licenses being acquired by Hinduja Global Solutions (HGS), a related party. The proposed acquisition of NDL's business will result in shareholders of NDL receiving shares of HGS as per share swap valuation and shall be subject to all applicable regulatory approvals. The company will appoint necessary intermediaries and an independent valuer to carry out the valuation exercise and submit the report including share exchange ratio at the earliest.

Dalmia Cement (Bharat)

Dalmia Cement (Bharat) (DCBL), a leading Indian cement major and a subsidiary of Dalmia Bharat, has announced the commencement of commercial production at its Murli Plant in Chandrapur district, Maharashtra. This will add 2.9 mt cement capacity to the company's overall installed capacity. The company's installed cement capacity has now grown to 35.9 mt. The company acquired the plant for ₹410 crore and further committed to invest ₹929 crore for the revival, modernisation, expansion and installing green manufacturing equipment viz waste heat recovery systems, solar power, green fuel systems and robotic labs for enhanced quality monitoring. The plant has been turned around in a record time of 15 months from its acquisition under the Insolvency and Bankruptcy Code (IBC) process.

Greenpanel Industries

Greenpanel Industries has announced that the manufacturing operations at its MDF plant situated at Chittoor, Andhra Pradesh will remain closed for a period of about 8 days (approx.) from January 17 due to addition of new machinery (Mat Heating System) to speed up the production process and increase the capacity utilisation. An estimated expenditure of ₹8-10 crore (approx.) would be incurred for addition of the above machinery and likely to result increase in production capacity of the plant from existing 3,60,000 CBM to revised 4,44,000 CBM (approx.) per annum.

Kings Infra Venture

Kings Infra Venture, a technology-driven sustainable aquaculture company, has claimed that it set a world record in the growth of pond-based aquaculture of L Vannamei shrimps by harvesting shrimps weighing 80 gms (210 mm). L Vannamei commonly known as the whiteleg shrimp are native to the eastern Pacific Ocean, from the Mexican State of Sonora to as far south as northern Peru. The maximum size which the species can grow in the natural ocean habitat at an age of 12-14 months as per the FAO, as well as other research organisations, is a maximum of 230 mm, with a maximum Carpice Length of 9 cm.

HSIL

HSIL Brilloca, a wholly owned subsidiary of Somany Home Innovation, has proposed to purchase the building products manufacturing business of HSIL in a slump sale for a cash consideration of ₹630 crore. As a result, Brilloca, which is currently engaged in the marketing and distribution of building products (sanitaryware, faucets, plastic pipes, and fittings), will be backward integrated and have better control over the entire value chain, from manufacturing to after-sales. EY was appointed as independent valuation advisor for the transaction and AZB was the legal advisor.

JK Paper

JK Paper has commenced the commercial production of its packaging board plant at its unit CPM, Gujarat. This will increase the company's annual capacity from 4.55 lakh TPA to 6.25 lakh TPA and enhance its market share in packaging board segment.

Lagnam Spintex

The board of Lagnam Spintex has announced capacity expansion to meet increasing demand, entry to new markets & product mix, to meet new customer base, to bring competitive cost advantage and to meet gain of competitive advantage. The company's existing capacity is 1920 nos. rotors having production capacity of approx. 16.5 tonnes cotton yarn per day and 25,536 nos. Spindles having production capacity of approx. 18.6 tonnes cotton yarn per day.

SeQuent Scientific

SeQuent Scientific has announced that its board has appointed Rajaram Narayanan as Managing Director and Chief Executive Officer, effective April 11. Narayanan, who has served in senior leadership roles across the pharmaceutical, consumer goods and services industries, succeeds Manish Gupta who will be stepping down effective April 10 after serving as MD and CEO of SeQuent for the past eight years. Gupta will continue to serve as a strategic advisor to the company until July 2022.

KPI Global Infrastructure

KPI Global Infrastructure has signed new long term power purchase agreement (PPA) for sale of 3.10 MW (AC) / 4.12 MW (DC) solar power with Cadila Healthcare Ltd and Organic Industries under Independent Power Producer (IPP) Segment of the Company.

Nakoda Group of Industries

The board of Nakoda Group of Industries has approved the matter of business Strategic Partnership with Mysore Fruit Products to grab market opportunities and for the better prospects of the company. The Board of directors are authorised to enter into an agreement with Mysore Fruit Products Private to proceed further for such business partnership. THe board also approved rights issue for an amount not exceeding ₹49 crore

Vikas Lifecare

Vikas Lifecarehas entered into definite agreement with the existing promoters/shareholders for acquiring 75 per cent equity of Genesis Gas Solutions Private, a company engaged in the business developing 'Smart Products' including Smart Gas Meters & Power Distribution solutions for the ever-expanding infrastructure in India, in a cash deal amounting ₹25 crore, payable in stages.

Results calendar

Advik Capital, Angel One, Arfin India, Artson Engineering, Bhansali Engineering, Fineotex Chemical, Goodluck India, Hathway Cable, HFCL, Indo City Infotech, KIC Metaliks, KP Energy, KPI Global, Kreon Financial, Maharashtra Scooter, Magellanic Cloud, MFS Intercorp, MOS Chip, Poddar Pigments, Sonata Software, Tata Steel Long Products, Tatva Chintan, Tiger Logistics, UltraTech Cement, Unistar Multimedia and Vikas Ecotech.

Related Topics
comment COMMENT NOW