Hero MotoCorp to sell and service Harley-Davidson motorcycles in India
Hero MotoCorp Ltd. has signed an agreement with Harley-Davidson Inc. to develop and sell premium motorcycles in India, under the Harley brand name. According to the distribution agreement, Hero will also sell the accessories, parts, and merchandise of the US-based motorcycle maker. This would allow Harley Davidson to retain its operations in India.
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Tata Motors Q2 Results: Net Loss increases to Rs 307 crore
Tata Motors Ltd. reported a consolidated net loss of Rs 307.3 crore, for the quarter ended September (Q2). The company’s total revenue from operations declined by 18.19% to Rs 53,530 crore, during the same period. The company has now reported a net loss for three quarters in a row. The share price of Tata Motors saw a rise of 2.21%, and closed at Rs 136.65 on the NSE today.
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TCS partners with Equinor for digital transformation
Tata Consultancy Services (TCS) has been selected as a strategic partner by Equinor, a Norway-based global energy company. The partnership will help to accelerate Equinor’s vision of becoming a digital energy company. TCS will use its expertise and technology framework to help Equinor achieve its growth and transformation objectives.
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Bharti Airtel reports net loss of Rs 763 crore in Q2
Bharti Airtel Limited has reported a consolidated net loss of Rs 763 crore, for the quarter ended September (Q2). The company’s revenue from operations increased by 22% year-on-year (YoY) to Rs 25,785 crore, during the same period. The share price of Bharti Airtel fell by 0.17%, and closed at Rs 433.30 on the NSE today.
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HCL Tech completes acquisition of Cisco’s SON platform
HCL Technologies Limited has completed the acquisition of Cisco’s Self Optimization Network (SON) technology. The cost of the acquisition has been estimated at $49 million (~Rs 361 crores). The Cisco SON platform will help HCL to meet the needs of its customers in the telecommunications industry.
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Angel Broking reports Profit after Tax at Rs 74.6 crore in Q2
Angel Broking has reported its highest-ever quarterly profit after tax (PAT) at Rs 74.6 crore, for the quarter ended September (Q2). The total income has increased by 29% quarter-on-quarter (QoQ) to Rs 317.9 crore. The Board of Directors of Angel Broking has approved an interim dividend of Rs 4.15 per share.
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Tech Mahindra acquires Momenton and Tenzing to boost financial services business
IT major Tech Mahindra, on Tuesday, said it has acquired Australian-based Mementon, a digital enterprise technology firm, for Rs 75 crore. The IT company has also acquired New Zealand-based Tenzing Ltd., which is a technology consulting company, for Rs 217.3 crore. The two companies will help Tech Mahindra to further strengthen its financial services position in the Australia-New Zealand (ANZ) market.
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Amara Raja Batteries Q2 Results: Net Profit falls 8% YoY to Rs 201 crore
Amara Raja Batteries Limited has reported an 8% year-on-year (YoY) decline in net profit to Rs 201 crore, for the quarter ended September (Q2). The company’s revenue from operations increased by 14% to Rs 1,936 crore, during the same period. The share price of Amara Raja Batteries saw a rise of 3.38%, and closed at Rs 786 on the NSE today.
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Ceat Limited Q2 Results: Net Profit jumps four-fold to Rs 182 crore
Ceat Limited, on Tuesday, reported a four-fold increase in net profit to Rs 182.18 crore, for the quarter ended September (Q2). The tire manufacturing company’s revenue from operations increased by 16.96% to Rs 1,978.47 crore, during the same period. The share price of Ceat Ltd. saw a rise of 1.19%, and closed at Rs 1,142 on the NSE today.
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Patel Engineering gets Rs 1,564 crore order to build hydro project in Arunachal Pradesh
Patel Engineering Limited has received an order worth Rs 1,564.42 crore to build the 2,000 MW (megawatt) Subansiri Lower Hydro Electric Project in Arunachal Pradesh. The company has stated that this would be the largest hydro power generation project in India. The project is located at Kolaptukar village, in Kamle district of Arunachal Pradesh.
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