Tata Motors to deliver 15 hydrogen-powered buses to Indian Oil Corp
Tata Motors has secured an order for 15 hydrogen-based proton exchange membrane (PEM) fuel cell buses from Indian Oil Corporation Limited (IOCL). All 15 buses will be delivered within 144 weeks from the date of signing of the Memorandum of Understanding (MoU). The automaker will also collaborate with IOCL to undertake research & development (R&D) projects and collectively study the potential of fuel cell technology for commercial vehicles.
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NBCC Q4 Results: Net profit at Rs 83 crore
NBCC (India) Limited reported a consolidated net profit of Rs 83.30 crore for the quarter ended March 2021 (Q4 FY21). It posted a net profit of Rs 83.77 crore in the corresponding quarter last year (Q4 FY20). Its total income rose 2.09% YoY to Rs 2,706.80 crore in Q4 FY21. Net profit for the financial year 2020-21 (FY21) jumped 136.5% YoY to Rs 236.24 crore. The construction company’s board has recommended a final dividend of Rs 0.47 per share.
In other news, NBCC has secured a project worth Rs 206 crore from Odisha Hydro Power Corporation Ltd.
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AstraZeneca partners with Docon to digitalise 1,000 clinics across India
AstraZeneca Pharma India Ltd has signed an agreement with Bengaluru-based health-tech startup, Docon Technologies, for digitising 1,000 clinics across India. Docon will equip clinics with customised Electronic Medical Record (EMR) systems, which enable clinicians to access complete patient history. As part of the pilot phase, around 200 clinics across Tier 1 and Tier 2 towns have been upgraded.
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Ircon International Q4 Results: Net profit rises 47% YoY to Rs 170 crore
Ircon International reported a 47.69% YoY increase in consolidated net profit to Rs 170.43 crore for the quarter ended March (Q4). Its revenue from operations rose 29.27% YoY to Rs 2,421.65 crore during the same period. Net profit for the financial year ended March 31, 2021 (FY21) declined by 19.4% YoY to Rs 391.06 crore. Ircon International is an engineering and construction company that specializes in transport infrastructure. It is a wholly-owned subsidiary of the Indian Railways.
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Lupin receives USFDA approval for HIV drug under PEPFAR
Lupin Limited has received approval from the US Food & Drug Administration (USFDA) for Dolutegravir, Lamivudine, and Tenofovir Disoproxil Fumarate (TLD) tablets, along with an antiretroviral fixed-dose combination. It is indicated for the treatment of HIV in adults and pediatric patients. The approval has been given under the US President’s Emergency Plan for AIDS Relief (PEPFAR). The product will be manufactured at Lupin’s facility in Nagpur, Maharashtra.
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Tech Mahindra partners with TAC Security for enterprise security solutions
Tech Mahindra Ltd has partnered with TAC Security to enable next-generation enterprise security for customers globally. US-based TAC Security is a risk and vulnerability management firm. The partnership will leverage artificial intelligence (AI) and user-friendly analytics to measure, prioritise, and mitigate vulnerabilities across the entire IT stack. They will help safeguard clients’ applications and infrastructure against cyber threats.
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Hatsun Agro expands dairy products portfolio; to sell paneer under ‘Arokya’ brand
Hatsun Agro Product Ltd has expanded its products portfolio by introducing paneer under the ‘Arokya’ brand. It will initially be sold in Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Goa, Maharashtra, and Pondicherry. The company stated that Arokya Paneer is made using fresh milk sourced directly from farmers and natural lemon. The product is available in a 200-gram pack and is priced at Rs 100. Hatsun Agro is a leading private sector dairy company based in Chennai.
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Sunteck Realty Q4 Results: Net profit jumps 215% YoY to Rs 10.4 crore
Sunteck Realty Ltd reported a 215.94% YoY jump in consolidated net profit to Rs 10.40 crore for the quarter ended March (Q4). Net profit has declined by 55.35% when compared to the previous quarter. Its total income rose 113.52% YoY to Rs 194.67 crore during the same period. Net profit for the financial year ended March 31, 2021 (FY21) declined by 43.35% YoY to Rs 41.94 crore. The company’s board has recommended a final dividend of Rs 1.5 per share.
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Promoters of Macrotech Developers repay debt of Rs 1,596 crore owed to company
Macrotech Developers announced that its promoters have repaid the entire debt owed by them to the company. The promoters owed a sum of Rs 1,596 crore as of March 31, 2021. Of this, a sum of Rs 400 crore was repaid on April 29, 2021. The balance of Rs 1,196 crore, along with interest accrued, was repaid today (June 30). Macrotech Developers further said it targets a significant reduction in net debt to Rs 10,000 crore by the end of the current financial year (FY22). It will also focus on a capital-light growth strategy around affordable and mid-income housing and digital infrastructure.
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EID Parry Q4 Results: Net loss at Rs 6.34 crore
EID Parry (India) reported a consolidated net loss of Rs 6.34 crore for the quarter ended March 2021 (Q4 FY21). It had reported a net profit of Rs 157.23 crore in the corresponding quarter last year (Q4 FY20). Its total income declined by 7.8% YoY to Rs 3,928.52 crore in Q4 FY21. Net profit for the financial year 2020-21 (FY21) declined by 4.38% YoY to Rs 447.37 crore. EID Parry is engaged in the manufacturing and marketing of sugar, bio-pesticides, and nutraceuticals.
