CEAT, Tata Steel and Tata Motors to see some action today

CEAT’s board has approved the issuance of listed/unlisted, secured/unsecured, redeemable Non-Convertible Debentures (NCDs) or such other debt securities, on a private placement basis, in one or more series/ tranches, up to an amount of Rs 500 crore. The Board of Directors of the Company at its meeting held on July 20, 2022, inter-alia, has considered and approved the same.

Tata Steel has signed a Memorandum of Understanding (MoU) with BHP, a leading global resources company, with the intention to jointly study and explore low carbon iron and steelmaking technology. Under the partnership, Tata Steel and BHP intend to collaborate on ways to reduce the emission intensity of the blast furnace steel route, via two priority areas - the use of biomass as a source of energy and the application of carbon capture and utilisation (CCU) in steel production.

Tata Motors has launched the all-new range of the Tata Winger BS6, in association with its sole authorised distributor, Sipradi Trading, in Nepal. Built on ‘Premium Tough’ design philosophy, the Tata Winger BS6 has a comprehensive range of applications that include cargo, school, staff and tours & travel. The multi-utility van meets the evolving needs of the new-age and informed customers who seek performance, profit and comfort with style. Sipradi Trading will support the sales and service through their countrywide network.

FSN E-Commerce Ventures (Nykaa) has entered into partnership with the Estee Lauder Companies (ELC) to launch BEAUTY&YOU India. Created by ELC’s New Incubation Ventures and launched in partnership with NYKAA, BEAUTY&YOU India looks to discover, spotlight, and propel the next generation of Indian beauty brands. The program will support India-focused companies and entrepreneurs through a competitive application process.

Ador Welding has received a Letter of Award (LoA) of Rs 145 crore inclusive of all taxes, duties & levies including GST at 18%, from Oil & Natural Gas Corporation (ONGC), Uran for Design, Engineering, Supply, Erection & Commissioning of Demountable Flare Stack Project on LSTK basis at their (ONGCs) Uran Plant.

Ramkrishna Forgings is planning to raise funds by way of issue of bonds/ debentures/ non-convertible debt instruments/ equity shares/ warrants/ any other securities, including through preferential issue on a private placement basis, qualified institutional placement or any other methods or combination thereof. A meeting of the Board of Directors of the Company is scheduled to be held on 21 July 2022, to consider and approve the same.

Wipro has reported results for first quarter ended June 30, 2022. The company has reported a rise of 22.86% in its net profit at Rs 2,216.60 crore for the quarter under review as compared to Rs 1,804.10 crore for the same quarter in the previous year. Total income of the company increased by 15.82% at Rs 16,645.30 crore for Q1FY23 as compared Rs 14,371.80 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a fall of 21.22% in its net profit at Rs 2,558.90 crore for the quarter under review as compared to Rs 3,248 crore for the same quarter in the previous year. However, total income of the company increased by 15.52% at Rs 22,001 crore for Q1FY23 as compared Rs 19,045.30 crore for the corresponding quarter previous year.