Results calendar: LIC, ABB India, Eicher Motors, RVNL, Oil India, Bharat Forge, Cochin Shipyard, Container Corporation Of India, SAIL, MRF, Astral, Page Inds, New India Assurance, Biocon, Global Health, Bayer Cropscience, Timken India, JB Chemicals, TVS Holdings, Ircon International, Garden Reach Shipbuilders, Alembic Pharma, IFCI, Gujarat State Petronet, AstraZeneca Pharma, Sobha, HBL Power Systems, Bombay Burmah, PCBL, NAVA, Minda Corp, Tega Inds, KPI Green, Birla Corp, Galaxy Surfactants, Azad Engg, Eureka Forbes, Prident Corporate Advisory, Va Tech Wagbag, Sansera Engg, India, Shelter Finance Corp, Garware Technical Fibres, Shilpa Medicare, Garware Hi-Tech Films, Gujarat Alkalies, Gateway Distriparks, Healthcare Global, NOCIL, Bharat Rasayan, Sandhar Technologies, Seamec, Greaves Cotton, MPS, Mayur Uniquoters, Indian Hume Pipe, Lumax Inds, Ajmera Realty, Dreamfolks Services, Vidhi Specialty, Uniparts India, Cosmo First, Carysil, Antony Waste Handling, Balmer Lawrie, Alicon Castalloy, Kilburn Engg, Igarsahi Motors, Shankara Building, Steelcast, Chemfab Alkalies, Snowman Logistics, Shalimar Paints, State Trading Corp, J G Chemicals, Orient Paper, India Amines, Munjlal Auto, Transpek Industry, Cheviot Company, Shreyas Shipping, Khadim, Emkay Global, Poddar Pigments, Hitech Corp, Goodricke Group, Keltech Engines, Majestic Auto, Talbros Engg, Indian Toners & Developers, Multibase India, KPT Industries, Bharat Gears, Agri-Tech, Polychem. 

Novelis Inc, subsidiary of Hindalco, has reported a 2 per cent y-o-y increase in net sales for the first quarter, reaching $4.2 billion, driven by higher average aluminium prices and increased total shipments. Total flat-rolled product shipments rose 8 per cent to 951 kilotonnes compared to the same period last year.

Moody’s Ratings on Wednesday upgraded Tata Motors Ltd’s corporate family rating by two notches, moving it from Ba3 to Ba1. This upgrade is attributed to the company’s sound governance practices, particularly its creditor-friendly financial policies, track record, and management prudence. Additionally, Tata Motors Ltd’s senior unsecured instruments ratings have also been upgraded to Ba1 from Ba3.

NTPC informed the exchanges that consequent upon successful commissioning and due approvals, first part capacity of 60 MW out of 150 MW Gujarat Solar PV Project in Radhanpur, through its wholly owned subsidiary NTPC Green Energy Limited, is declared for commercial operation from July 29.

GameChange Solar has granted work order to Bondada Green Engineering Private Limited, subsidiary of Bondada Engineering, for supply of Solar Module Mounting Structures (MMS), amounting to $23,70,906 (equivalent $19.84 crore).

Sterlite Power, a leading global power products and solutions provider has bagged orders worth Rs 1,500 crores across its Global Products and Services (GPS) business that caters to high performance, green products and specialized Engineering, Procurement and Construction (EPC) services. The new set of orders, won across the domestic and international market in Q1 FY25, builds on the total order book of over INR 6,560 crores at the start of this financial year.

The board of Authum Investment & Infrastructure has decided not to go ahead with raising of funds by way of QIP, Preferential allotment, etc. at present. Further, the Board will raise funds as and when required.

The Board of directors of RMC Switchgears has proposed to issue equity shares upto 2,18,500 on Preferential Issue Basis to the promoters/identified persons at Issue Price of ₹687 a share amounting to ₹15.01 crore.

Sandur Manganese & Iron Ores has appointed Krishnendu Sanyal as Chief Executive Officer (CEO) and Manjunath Prabhu as Chief Operating Officer (COO). These leadership appointments are aimed at augmenting the company’s management bandwidth and driving forward its ambitious plans for integration and sustainability in the metals & mining industry, it said in a statement.

TVS Supply Chain Solutions has secured a new business contract from JCB in India for managing their in-plant warehousing and logistics operations at their facility in Vadodara, Gujarat for three years. JCB has been TVS SCS’ one of the first few clients for more than two decades, with TVS SCS offering aftermarket warehouse services in Bhaproda, Haryana for Parts distribution.

Lemon Tree Hotels announced the opening of Lemon Tree Resort, Somnath, Gujarat. This franchised resort is the seventh property of the group in Gujarat. The Resort features 52 well-appointed rooms and suites, Citrus Café – a multi-cuisine coffee shop and an expansive outdoor space to meet all discerning guests’ event needs. For recreation, the resort offers a wellequipped fitness center, and a refreshing swimming pool.

On the back of exponential growth opportunity in Plastic Pipes market in India and with an objective of fast track entry, Sintex-BAPL Limited, wholly owned subsidiary of Welspun Corp, has decided to acquire 100% of the equity shares and non-cumulative redeemable preference shares of Weetek Plastics Pvt. Ltd and subscribe to a certain number of Optionally Convertible Debentures to be issued by WPPL. The purchase price for the securities and the subscription price for the OCDS will be determined at closing based on the Enterprise Value of WPPL at ₹85 crore and thereafter subject to certain adjustments (including on account of outstanding debt of WPPL) as set out under the SPSA.

MTAR Technologies has received export orders worth $16.73 million (approx. ₹140 crore) in Clean Energy – Fuel Cells vertical from Bloom Energy Corporation for execution of power units and associated components. As per the contract, ₹9.10 million orders shall be executed in FY 2024-25 and balance will be dispatched by Q1 FY 2025-26. The company is expecting further orders in this vertical that will be executed in FY 2024-25 itself. These orders will support the revenue targets guided by the company for FY 2024-25.

Shree Renuka Sugars said that it has drawn down the refinancing facility from MUFG and completed the repayment of the entire ECB of $300 million availed from the holding company - from Wilmar Sugar and Energy Pte Ltd. (formerly known as Wilmar Sugar Holdings Pte. Ltd).

GTL Infrastructure said that it has received a show cause notice from GST Authority for the FY 2017-18 proposing to demand tax, interest and impose penalty, amounting to ₹893.99 crore towards differences between revenue reported in Statement of P&L of erstwhile Chennai Network Infrastructure Limited and revenue reported in GST return filed by the Company for Uttar Pradesh.

The board of Bhageria Industries has approved a proposal to incorporate Two Wholly Owned Subsidiary Companies to inter alia invest in solar business through Power Purchase Agreement (PPA). It also approved a proposal to carry out the operation & maintenance of solar projects of Bhageria Industries Ltd which shall be executed by Bhageria Green Solutions Pvt. Ltd, a related party.

UPL informed the exchanges that the High Court of Australia has dismissed the appeal and decided the matter in favour of its subsidiary Advanta. The High Court has upheld the judgment of the Court of Appeal, stating that Advanta was not liable for the economic loss to the growers. This marks the end of the Class Action as there are no further avenues of appeal available, UPL said.

Marico informed the exchanges that operating conditions in Bangladesh are gradually improving, but it still watchful of the situation. “After a brief interruption, majority of retail sales force and distributors resume operations. Expect manufacturing operations to resume soon. Medium-term prospects of business in Bangladesh remain intact,” the company said.

Market buzz is that Standard Chartered Bank is expected to sell around 3 per cent stake through block deals in Protean eGov Tech. The shares are likely to be offloaded between Rs 1,750 and Rs 1,775 each,. The stock on Wednesday closed at Rs 1,867.60.

Anish T Mathew has resigned as Chief Financial Officer, of Allcargo Gati effective October 31, 2024, due to personal reasons. The board has approved the appointment of Deepak Jagdish Pareek as Deputy Chief Financial Officer of the company, with immediate effect.

The Board of Directors of Coromandel International has appointed S Sankarasubramanian as Managing Director and Chief Executive Officer (CEO) of Coromandel International, effective August 7. S Sankarasubramanian was previously the Executive Director – Nutrient Business.

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