Indian Hotels, Coal India and TCS to see some action today

Indian Hotels Company (IHCL) has opened Ginger Nagpur Airport Road. The hotel’s lean luxe design philosophy allows guests to seamlessly blend work and leisure in vibrant, contemporary spaces. The 86-key Ginger Nagpur Airport Road is part of a mixed-use development that includes one of the city’s premier shopping mall. Positioned strategically in proximity to the Dr. Babasaheb Ambedkar Airport, it offers seamless connectivity to the new metro line servicing the airport. 

Coal India (CIL) has incorporated a subsidiary firm, Bharat Coal Gasification and Chemicals (BCGCL). BCGCL has been incorporated for coal to chemicals business to produce ammonia and nitric acid as intermediate products and ammonium nitrate as end product. CIL holds a majority 51 per cent stake in the new entity while the remaining 49 per cent is owned by Bharat Heavy Electricals (BHEL).

Tata Consultancy Services (TCS) has entered into partnership with IIT Bombay to build India's first quantum diamond microchip imager. A quantum diamond microchip imager can image magnetic fields, enabling a non-invasive and non-destructive mapping of semiconductor chips, much like an MRI at a hospital. This technology is imperative given the challenges to detect anomalies posed by traditional sensing methods due to the shrinking size of semiconductors.

DCM Shriram has signed an agreement with Mumbai’s Institute of Chemical Technology (ICT) for advance research and development in the chemical industry. Under the memorandum of understanding, ICT Mumbai will undertake specialised R&D projects for DCM Shriram Chemicals in areas such as chemicals engineering and processing, epoxy polymers and composites, and water treatment chemicals. DCM Shriram Chemicals is a part of the widely renowned DCM Shriram.

Adani Enterprises has received approval for fundraise of not exceeding to Rs 16,600 crore by way of qualified institutional placement (QIP) or other permissible mode in one or more tranches and in accordance with the applicable laws, subject to the receipt of the necessary approvals including approval of the members at the ensuing Annual General Meeting of the Company scheduled to be held on June 24, 2024 and other regulatory / statutory approvals, as may be required. The Board of Directors of the Company at its meeting held on May 28, 2024 has approved the same.

Wipro, selected by Close Brothers last July as a strategic IT services partner, is all set to support the transformation of Close Brothers’ IT operations and modernization of their technology ecosystem to create a more digitally enabled, modern and agile IT environment that is secure, resilient, and sustainable. The project is part of Close Brothers’ Technology Transformation Programme initiated in 2023. It supports Close Brothers in the delivery of its strategy, focused on providing exceptional customer and employee experiences that support the firm's relationship-based model.

3M India has reported 27.36% rise in its consolidated net profit at Rs 172.85 crore for fourth quarter ended March 31, 2024 as compared to Rs 135.72 crore for the same quarter in the previous year. Total income of the company increased by 6.52% at Rs 1,124.73 crore for Q4FY24 as compared Rs 1,055.90 crore for the corresponding quarter previous year.