Hindustan Aeronautics, TVS Motor Company and Bajaj Finance to see some action today

Hindustan Aeronautics has signed a contract with the Government of Mauritius for export of one Advanced Light Helicopter (ALH Mk-III) for the island nation’s police force. With this contract, the company and the Government of Mauritius, which already operates an HAL-built ALH and Dornier-228 aircraft, have further strengthened the long-standing business relations spanning over three decades. The ALH Mk-III is a multi-role, multi-mission versatile helicopter in 5.5 tonne category.

TVS Motor Company has launched its motorcycle TVS Star HLX 150 Disc Variant in Egypt. The company is launching the product to offer an attractive personal mobility option to rural and urban Egyptian commuters. TVS HLX has recently crossed a sales milestone of two million units across global markets. TVS HLX series, launched in 2013, has stayed true to the brand’s promise of being a sturdy product that is highly reliable across rugged terrains.

Bajaj Finance has received approval from board of directors for raising of funds by way of debt issue/issue of non-convertible securities as a part of the proposed increase in overall borrowing limit, from Rs 160,000 crore to Rs 225,000 crore. The board of directors at its meeting held on January 18, 2022 has approved the same.

The National Company Law Appellate Tribunal (NCLAT) has put a stay on the insolvency proceedings against HCL Technologies. The National Company Law Tribunal (NCLT) had on January 17, 2022 initiated for insolvency proceedings against the company. The case against HCL Tech was filed by Sahaj Bharti Travels on August 6, 2019 through an e-application to the NCLT. The company claimed that HCL Tech had continued to default on its payment under the minimum guarantee clause of the agreement amounting to Rs 3.54 crore.

PTron, brand owned by Palred Electronics which is a subsidiary of Palred Technologies, has expanded its product portfolio for wearables with the launch of a new smartwatch pTron Force X11. With the promise of Style, Performance & Connectivity, Force X11 is here to keep you ahead of the game. Lightweight and ergonomically made, Force X11 features 1.7” large HD full-touch color display offering crisp graphics and amplified brightness.

Power Finance Corporation (PFC) and REC have further reduced their lending rates across all types of loans by 40 Bps. In the last about one year, both the organisations have reduced lending rates cumulatively by upto 3%.

NTPC has sought about 10 million tonnes of overseas coal since it issued its first international tender in two years in October. The reversal after years of supporting the government’s push to favour local producers underscores concern about a repeat of fuel shortages that triggered outages and power restrictions last year. The company is aiming to secure cargoes starting from April, when power consumption in India typically surges on summer cooling demand.