Tata Consultation Service: Giant IT will announce its financial performance for the quarter ended today, marking the income season for the IT sector. TCS is expected to report revenue growth of 4-5% strongly. The company has reported PAT ₹ 9,926 Crore during January-March about revenue ₹ 50,591 Crore.
Tata Power: The company announced to invest more than ₹ 75,000 crore in renewable energy in the next five years. Chairman N Chandrasekaran said the company was aimed at having a 30 GW power plant capacity during the same period with more than half of the net energy sources.
Mahindra & Mahindra: British international investment will invest up to ₹ 1,925 crore or $ 250 million into a new electric passenger vehicle company that will be established by M&M. The investment is in the assessment to the hospital. 70,070 Crore.
Vedanta: The company has said it will acquire Athena Chhattisgarh Power Ltd which is full of debt for ₹ 564.67 Crore. The liquidation process for the company began in March last year. The acquisition for the purchase price of ₹ 564.67 crore is likely to be completed in the ongoing financial year, adding that the consideration will be in the form of cash.
Tata Motors: Jaguar Land Rover owned by a car maker reported a decrease in retail sales of 37% in 78,825 units in the quarter ended in June, influenced by semiconductor deficiencies, COVID-19 locking in China and a new model transition from Range Rover Sport.
Shriram City Union: Company Equity Shareholders and Creditors Guaranteed & Without Guarantee Approve Mergers with Shriram Transportation Financial Companies. The merger of the city of Shriram with STFC will create Shriram Finance, Retail NBFC.
Dr. Reddy Laboratory: US FDA has issued Form 483 with two observations after checking its manufacturing facilities located in Srikakulam in Andhra Pradesh. Form 483 was issued for company management at the end of the inspection when the investigator had observed any condition that in his assessment could be a violation of food and cosmetics drugs (FD & C) laws and related actions.Seng Hindustan: The government has invited offers from traders’ bankers to suggest it in dismantling 29.5% of residual shares in HZL in stages. Stocks are worth around ₹ 32,000 crore, based on current market prices from the company’s shares.
Adani Ports: The company on Thursday announced the appointment of D Muthukumaran as Chief Financial Officer (CFO) and the company’s main managerial personnel. Muthukumaran is expected to join the company on July 25.
Alkem Laboratory:Pharmacy company said the US health regulator has issued Form 483 with one observation after checking its facilities at Indore in Madhya Pradesh.