RIL, Wipro, NBCC (India) in spotlight

Reliance Industries (RIL) on Saturday (14 November 2020) announced that its subsidiary Reliance Retail Ventures (RRVL) has acquired equity shares of Urban Ladder Home Dor Solutions for a cash consideration of Rs 182.12 crore. The said investment represents 96% holding in the equity share capital of UrbanLadder.

Wipro announced that it will deliver managed SoftwareDefined Wide Area Network (SD-WAN) transformation services to Olympus leveraging Cisco technology. Seperately, Wipro and SNP Schneider-Neureither & Partner SE, a world-leading provider of software solutions for digital transformation processes and automated data migration, announced a strategic partnership to help customers accelerate their enterprise transformation journey.

NBCC (India) announced on Monday (16 November) that it secured total business of Rs 1165.52 crore in October 2020.

The Great Eastern Shipping Company (G E Shipping) on 14 November 2020 announced that it signed a contract to buy a secondhand capesize bulk carrier. The 2014 Philippine-built vessel is expected to join the company's fleet in the second half of the current fiscal ending March 2021 (H2 FY21).

General Insurance Corporation of India (GIC Re) reported a consolidated net profit of Rs 228.40 crore in Q2 FY21 compared with net loss of Rs 652.60 crore in Q2 FY20. Total income during the quarter declined by 12.7% year-on-year (YoY) to Rs 12,053.23 crore.

Spandana Sphoorty Financial reported 46% jump in consolidated net profit to Rs 66.76 crore on 3.4% decline in total income to Rs 354.11 crore in Q2 FY21 over Q2 FY20.

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