NTPC, Tata Motors and SAIL to see some action today

NTPC has added 3,924 MW power generation capacity in 2023-24, taking the total installed capacity to around 76GW.  This (3,924 MW) includes the commissioning of the second unit in Bangladesh and maiden capacity addition by both its subsidiaries -- NTPC Green Energy (NGEL) and NTPC Renewable Energy (NREL), during the fiscal year ending March 31, 2024. The company is committed to adopting best practices, fostering innovation, and embracing clean energy technologies for a greener future.

Tata Motors has reported 2% rise in its total domestic wholesales at 90,822 units in March. In the year-ago period, the company posted total domestic wholesales of 89,351 units. Sales of passenger vehicles, including electric vehicles, in the domestic market, were at 50,297 units in March as compared to 44,225 units in the same period last year, up 14%. Total commercial vehicle dispatches in the domestic market last month stood at 40,712 units, down 10% as against 45,307 units in March 2023.

Steel Authority of India (SAIL) has posted 5 percent increase in its crude steel production to 19.2 million tonne (MT) for the financial year 2023-24 (FY24). The company’s hot metal output also rose 6 per cent to 20.5 MT for FY24. The company has recorded a 7 per cent rise in saleable steel output to 18.4 MT in FY24 as compared to FY23. The company achieved its highest-ever sales volume of 17.1 MT during FY24, up 5 per cent year-on-year. 

Veerhealth Care has received order worth Rs 57.36 lakh from Apollo Healthco, India for ‘AP Essentials Advanced Hair Care Shampoo’ & ‘AP Essentials Advanced Hair Care Conditioner’. The order is to be executed within 30 days. This will add new variant to the existing range of hair care products manufactured and supplied by Company to Apollo Healthco. The company is expecting additional growth in turnover with this new order.

Elpro International has acquired 28,790 equity shares of Multi Commodity Exchange of India for investment purpose. Cost of acquisition is Rs 10 crore. 

Associated Alcohols & Breweries has been allotted the license for supplying Country Liquor in the allotted districts of Madhya Pradesh for the FY 2024-25 to the Excise Department, Madhya Pradesh. 

Infosys, on March 31, 2024, received order under Section 201 & 201(A) of the Income Tax Act, 1961 from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of Rs 341 crore (including interest). The Company is in the process of evaluating the implications of this order on the financial statements for the quarter and year ending March 31, 2024, and also evaluating filing appeal against this order. Further, a subsidiary of the Company has received refund order under Section 154 of the Income Tax Act, 1961 from the Income Tax Department, Government of India for assessment year 14-15. The refund amount as per the order is Rs 15 crore. The Company is in the process of evaluating the implications of this order on the financial statements for the quarter and year ending March 31, 2024.