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Mahindra & Mahindra Financial Services: The RBI has lifted restrictions against Mahindra Finance on appointing third party agents for recovery or repossession. Also, the board of the company will meet on Feb. 3 to consider its financial results for the quarter ended December 2022.
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NTPC/ Hindustan Petroleum: NTPC Green Energy, a subsidiary of NTPC, signed an MoU with HPCL to develop renewable energy projects and supply 400 MW green energy to latter’s facilities.
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IRB Infrastructure Developers: The board approved the proposal to split each existing share with a face value of Rs 10 into 10 shares with a face value of Re 1 each.
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Bharti Airtel: The special committee of directors approved allotment of 83.5 lakh shares at a conversion price of Rs 521 apiece after certain holders converted FCCBs worth $60.4 million.
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SJVN: The Cabinet approved investment of Rs 2,614 crore for the company’s 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh.
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Hindustan Unilever: The company completed the acquisition of 19.8% stake in Nutritionalab for Rs 70 crore.
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Hindustan Petroleum Corporation: The company forayed into petrochemical business with pre-marketing of HP Durapol branded polymersin a pre-cursor to setting up a 9MMTPA refining and petrochemical complex in Rajasthan.
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Tata Power: The company will compute and claim tariff from the beneficiaries based on the Central Electricity Regulatory Commission order that grants compensation for emergnecy supply from its Mundra plant.
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Krishna Institute of Medical Sciences: The board apporved raising funds via issuance of non-convertible debentures of Rs 300 crore in one or more tranches.
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GR Infraprojects: Subsidiary GR Bhimasar Bhuj Highway received a letter from the NHAI declaring the appointed date of Jan. 2, 2023, for upgrading a section of NH341 from Bhimasar to Anjar–Bhuj in Gujarat to four-lanes. The bid project cost is Rs 1,085 crore.
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National Aluminium Co.: The company’s board will meet on Jan. 17 to consider interim dividend for the current fiscal.
– The total cargo handled grew 8% to 25.1 million metric tonnes.
– Cargo volumes increased 8% to 253 million metric tonnes during April-December 2022 period.
– AUM as of Dec. 31, 2022, rose 27% to Rs 2.3 lakh crore
– New loan accounts grew 5.4% to record figure of 7.8 million
– Deposit book rose 41% to Rs 43,000 crore.
– Total deposits increased 11% to Rs 81,746 crore.
– CASA deposits increased 18% to Rs 29,948 crore.
– Gross advances increased 14% to Rs 68,371 crore.
– Consolidated revenue in the quarter grew in low single digits on annual basis.
– Gross and operating margins are expected to improve both on a sequential and on-year basis.
– The company expects a modest growth in operating profit.
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