Reliance Industries, TVS Motor Company and G R Infraprojects to see some action today

Reliance Industries (RIL) has entered into a technology licensing agreement with Nel Hydrogen Electrolyser AS, a fully owned subsidiary of Nel ASA. The agreement provides RIL with an exclusive license for Nel’s alkaline electrolysers in India and also allows RIL to manufacture Nel’s alkaline electrolysers for captive purposes globally. Through the agreement, Reliance gets access to Nel’s leading, proven technology platform for manufacturing electrolysers. RIL has successfully built multiple businesses of truly global scale. 

TVS Motor Company (TVSM) has launched its premium electric scooter, TVS iQube in Sri Lanka. Backed by steadfast and trusted engineering capabilities of TVSM, the TVS iQube delivers class leading reliability, performance, comfort, build quality and safety. The product offering is complemented by the well-established after-sales network of TVS Lanka developed over a successful and strong presence of 2 decades in Sri Lanka. 

G R Infraprojects has emerged as L-1 bidder in Financial Bid Opening dated May 21, 2024 for the tender invited by Maharashtra State Road Development Corporation (MSRDC) for ‘Construction of Access Controlled Pune Ring Road in Pune District Package PRR W5 from Kalyan/Rathwade Km. 55+500 to Shivare/Kusgaon Phase Km. 64+841 (Length - 9.341 Km.) in Tq. Haveli / Bhor in the State of Maharashtra on EPC Mode'. Contract Price is Rs 1997.07 crore.  

Eris Lifesciences has received approval for the issuance of Non-convertible Debentures (NCDs) for an amount aggregating up to Rs 1250 crore in one or multiple series through Private Placement. The Board of Directors of the company, in their meeting held on May 21, 2024, duly approved the same.

Suyog Telematics has entered into arrangement with Bharat Sanchar Nigam (BSNL) for aggressive roll out of sites on IP1 model across India including critical Mumbai & Delhi Circle. All sites will have lock-in period of 10 years with MSA tenure of 15 years.

United Spirits has received a notice to pay water charge arrears of Rs 345.45 crore from the Water Resources Department, Maharashtra.

BHEL has reported results for fourth quarter (Q4) ended March 31, 2024. The company has reported 24.92% fall in its net profit at Rs 484.36 crore for the quarter under review as compared to Rs 645.13 crore for the same quarter in the previous year. However, total income of the company increased by 1.04% at Rs 8425.17 crore for Q4FY24 as compared Rs 8338.61 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 25.59% fall in its net profit at Rs 489.62 crore for fourth quarter ended March 31, 2024 as compared to Rs 658.02 crore for the same quarter in the previous year. However, total income of the company increased by 0.94% at Rs 8416.84 crore for Q4FY24 as compared Rs 8338.61 crore for the corresponding quarter previous year.