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Tata Motors, M&M, Ratnamani Metals, Yes Bank, BHEL in spotlight

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Tata Motors wholly owned subsidiary, Jaguar Land Rover (UK) said retail sales totaled 36,421 in July and 28,887 vehicles in the seasonally lower month of August. Notably UK retail sales in July and August were up significantly year-on-year, 29.1% and 14.3% respectively.

Mahindra and Mahindra said that Share Purchase Agreement entered into for sale of 93,15,000 equity shares of Neo Solren (NSPL) held by Mahindra Renewables (MRPL), a step-down wholly owned subsidiary of M&M, to CLP India stands terminated on 10th September 2020.

Ratnamani Metals said it received a domestic order worth Rs 90 crore in carbon steel division of the company for supplying coated CS pipes for oil & gas sector. The order is to be completed between December 2020 to April 2021.

Credit rating agency ICRA upgraded its ratings assigned to various debt instruments of Yes Bank on improved liquidity. ICRA said the rating upgrade factors in the sizeable capital raise of Rs 15,000 crore in July 2020, which has resulted in an improvement in the capital ratios of Yes Bank.

Adani Land Defence Systems and Technologies, a step down subsidiary of Adani Enterprise, has acquired 51% equity of PLR Systems from Fouraces Systems India on 10 September 2020. PLR Systems was incorporated in 2013 and is engaged in the manufacture and supply of indigenously manufactured defence equipment to the Armed Forces countries. PLR Systems has an authorised share capital of Rs 13 crore and paid up share capital of Rs 12.04 crore.

ISGEC Heavy Engineering won a Rs 126.50-crore order for a semi-dry circulating fluidised bed scrubbers (FGD) system from Hindalco Industries. The FGD system will be used at one of the Hindalco's 150 MW units at Mahan Aluminium at Singrauli in Madhya Pradesh. The project was won through competitive bidding against other technology providers.

On a consolidated basis, Bharat Heavy Electricals (BHEL) reported a net loss of Rs 893.14 crore in Q1 June 2020, higher than net loss of Rs 218.93 crore in Q1 June 2019. Consolidated net sales tanked 57% to Rs 1,896.57 crore in Q1 June 2020 over Q1 June 2019.

On a consolidated basis, Puravankara reported net loss of Rs 16.93 crore in Q1 June 2020 as against net profit of Rs 44.40 crore in Q1 June 2019. Consolidated net sales tumbled 71.1% to Rs 182.35 crore in Q1 June 2020 over Q1 June 2019.

On a consolidated basis, Premier Explosives reported net loss of Rs 2.42 crore in Q1 June 2020 compared with net profit of Rs 0.68 crore in Q1 June 2019. Consolidated net sales slumped 56.3% to Rs 23.08 crore in Q1 June 2020 over Q1 June 2019.

Mishra Dhatu Nigam (MIDHANI) reported a consolidated net loss of Rs 0.94 crore in Q1 June 2020 compared with net profit of Rs 22.99 crore in Q1 June 2019. Revenues from operation during the quarter fell 14.11% year-on-year (YoY) to Rs 113.49 crore.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 14 2020. 08:39 IST
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