HAL gets Income Tax Relief.
A minor increase in interest rates, which are already at “historic lows”, will not impact loan disbursal or the demand for homes, HDFC chairman, Deepak Parekh, said at the CII-Anarock Real Estate Conclave.
Hero Electric has withdrawn its application seeking an injunction against Hero MotoCorp from using the Hero brand name for its Electric Vehicles. The arbitral tribunal to resolve the dispute between Hero MotoCorp and Hero Electric has been formed. The Delhi HC has formed a 3-member tribunal of retired judges.
Consolidated profit fell sharply by 55.5 percent to Rs 431 crore in Q4CY21, against Rs 968 crore in Q4CY20. Revenue rose 2.3 percent to Rs 7,625 crore, against Rs 7,453 crore during the same period. The company has approved an investment of Rs 3,500 crore, for a cement grinding expansion plan. The company approved the final dividend at Rs 6.30 per share.
Bajaj Consumer Care
The company has launched a new product, Bajaj Coco Onion, a non-sticky coconut hair oil.
Consolidated profit in Q3FY22 fell 40 percent YoY to Rs 17.8 crore, against Rs 29.5 crore in Q3FY21. Revenue increased 9 percent to Rs 459 crore during the quarter, up from Rs 420.7 crore in the same period last fiscal.
The company received approval from US FDA for a supplemental new drug application for SOLOSEC (secnidazole) in adolescents for both the treatment of bacterial vaginosis in females and trichomoniasis.
The company has appointed Jasjit Singh Kang as Head of digital operations & platforms of its iCORE (Integrated Cloud Infrastructure, Digital Operations, Risk and Enterprise Cyber Security Services) business.
Satyaprakash Gaur has tendered his resignation as Chief Financial Officer of the company, due to personal commitments and to pursue his other professional endeavours.
CRISIL has upgraded the long term credit rating of non-convertible debentures and long term bank facilities of the company to ‘AA+/Stable’ from ‘AA/Positive’ considering continued strong profitability and sustained improvement in the leverage levels. CRISIL has reaffirmed its rating on the short-term bank facilities and commercial paper programme at ‘A1+’.