PNB Housing Finance, Reliance Industries and M&M to see some action today

PNB Housing Finance through its focused and multi-pronged resolution strategy has successfully resolved and fully recovered its large corporate Non-Performing account of Rs 784 crore (1.3% of Loan Asset as on June 30, 2023). The account has been resolved on 19th August 2023 through an ARC sale under Swiss Challenge method as per the Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021. As on June 30, 2023, the Gross NPA of the Company stood at Rs 2,270 crore (3.76% of Loan Asset) and Loan Asset was Rs 60,395 crore.

Reliance Industries’ subsidiary -- Reliance Jio Infocomm has launched two prepaid mobile plans bundled with a Netflix subscription. A Netflix subscription is already available on select Jio Postpaid and Jio Fiber plans, but this is the first time that a Netflix subscription will be available on a prepaid plan. With this launch, over 400 million Jio prepaid customers will get the option of availing a Netflix subscription through a Jio Prepaid bundled plan. The company is offering two plans priced at Rs 1,099 and Rs 1,499 with 84 days validity with a Netflix subscription. The plan costing Rs 1,099 will offer Netflix mobile subscription, unlimited 5G data or 2 GB 4G data per day and unlimited voice calls.

Mahindra & Mahindra (M&M) has offered proactive inspection of select XUV products. Mahindra will inspect wiring loom routing in the engine bay of 108306 units of XUV700 manufactured between June 8, 2021 to June 28, 2023 for a potential risk of abrasion cut of wiring loom. Also, 3560 units of XUV400 vehicle manufactured between February 16, 2023 to June 5, 2023, will be inspected for ineffective spring return action of the brake potentiometer. This is keeping in line with the company’s customer centric approach.

Syschem (India) has received sales order of a total amount of Rs 3.06 crore from Infinity Laboratories towards Supply of cefadroxil 5000 KGS. The said order is expected to be completed within 60 days.

Sula Vineyards’ iconic Wine Tourism operations has achieved a record-breaking revenue on the long weekend as visitor attendance surged at the Nashik and Bengaluru wine tourism facilities on August 12 to August 14. Revenues over the three days touched Rs 2.08 crore, 40% higher than the previous three-day record of Rs 1.47 crore. Both August 13 & August 14 crossed the previous single day revenue record of Rs 70 lakh set on August 14 2022, with Aug 13 setting a new record of Rs 82 lakh.

Titan Company has signed a Share Purchase Agreement (SPA) with the Founder of CaratLane Trading (CaratLane) and his family members to acquire all the shares held by them representing 27.18% of the total paid-up equity share capital (on a fully diluted basis) of CaratLane for a total consideration of Rs 4,621 crore. 

NTPC has started a trial run of a hydrogen bus in Leh. Towards achieving carbon-neutral Ladakh, the company is setting up a hydrogen fuelling station, solar plant and providing 5 fuel cell buses for operation on intracity routes of Leh. The first hydrogen bus reached Leh on August 17 as part of a 3-month-long process of field trials, roadworthiness tests and other statutory procedures. This will be the India’s first ever deployment of hydrogen buses on public roads.