RIL, Titan Company, HPCL to be watched

Reliance Industries (RIL) is doubling its PET recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh. The move is part of RIL's commitment to lead the industry on circular economy, enhance its sustainability quotient and bolster the entire polyester and polymer value chain.

On a consolidated basis, Titan Company's net profit stood at Rs 18 crore in Q1 June 2021 (Q1 FY22) as compared to a net loss of Rs 297 crore in Q1 June 2020 (Q1 FY21). Consolidated revenue from operations soared 119.59% to Rs 3,004 crore in Q1 FY22 from Rs 1,368 crore in Q1 FY21.

HPCL reported consolidated net profit at Rs 2,003.90 crore in Q1FY22 against Rs 2,252.65 crore in Q1FY21. Total income rose to Rs 77980.15 crore from Rs 46702.09 crore YoY.

Vodafone Idea said that Kumar Mangalam Birla will step down as non-executive director and non-executive chairman of the board with effect from August 4. Himanshu Kapania is appointed as non-executive chairman of board, and Sushil Agarwal, a nominee of Aditya Birla Group, is appointed as additional director.

The board of directors of Shipping Corporation of India has considered and approved the scheme of arrangement for demerger of 'non-core assets'.

Greenply Industries has announced its foray into the Medium Density Fiber (MDF) boards business. The greenfield manufacturing plant would be setup in Vadodara, Gujarat with an estimated cost of Rs 548 crore.

Time Technoplast said that the company has received trial orders for 30,000 cylinders (appx) for various destinations in India.

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