Hero MotoCorp and Gogoro Inc. announced a strategic partnership to accelerate the shift to sustainable electric mobility in India. The companies will establish a battery swapping joint venture to bring Gogoro's industry leading battery swapping platform to India and will collaborate on electric vehicle development to bring Herobranded, powered by Gogoro Network vehicles to market.
Hero MotoCorp has decided to halt operations temporarily at all of its manufacturing facilities across the country, including its Global Parts Center (GPC), in view of the ongoing escalation in the spread of COVID-19 across the country.
State Bank of India (SBI) said that IRDAI has imposed a penalty of Rs 25 lakh on its unlisted subsidiary SBI General Insurance Company for violation of regulations relating to motor third party insurance obligations.
On a standalone basis, Nestle India net profit rose 14.62% to Rs 602.25 crore on 8.58% increase in revenue from operations to Rs 3,610.82 crore in Q1 FY21 over Q1 FY20. The board has declared an interim dividend for FY2021 of Rs 25 per equity share, which shall be paid on and from 19 May 2021.
ICICI Securities' consolidated profit after tax (PAT) jumped 111% to Rs 329 crore on 53% increase in revenue to Rs 739 crore in Q4 FY21 over Q4 FY20.
On a consolidated basis, Phillips Carbon Black reported 75.55% jump in net profit to Rs 127.73 crore on 23.75% increase in net sales to Rs 866.73 crore in Q4 FY21 over Q4 FY20.
KEC International has secured new orders of Rs 1,245 crore across its various businesses.
ICRA has upgraded the rating of MTAR Technologies (MTAR)'s long-term bank facilities to "ICRA A-" from "ICRA BBB+" while revising the outlook on the same to 'Positive' from 'Stable'.
5paisa Capital reported a consolidated net profit of Rs 5.86 crore in Q4 FY21 compared with net loss of Rs 1.70 crore in Q4 FY20. Total revenue from operations during the quarter increased by 39.88% year-on-year (YoY) to Rs 49.53 crore in Q4 FY21.
On a consolidated basis, TV18 Broadcast's net profit surged 77.02% to Rs 251.08 crore on 5.40% decline in revenue from operations to Rs 1,347.94 crore in Q4 FY21 over Q4 FY20.
On a consolidated basis, Tata Steel Long Products reported a net profit of Rs 339.86 crore in Q4 March 2021 compared with net loss of Rs 133.23 crore in Q4 March 2020. Consolidated revenue from operations surged 53.40% to Rs 1,546.74 crore in Q4 March 2021 over Q4 March 2020.
On a standalone basis, Swaraj Engines' net profit soared 105.55% to Rs 32.56 crore on 74.10% surge in revenue from operations to Rs 304.91 crore in Q4 FY21 over Q4 FY20.
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