Infosys Q2 Results: Net profit rises 11.8% YoY to Rs 5,421 crore

Infosys Ltd reported an 11.8% YoY increase in consolidated net profit to Rs 5,421 crore for the quarter ended Sept (Q2 FY22). Net profit rose 4.35% when compared to the previous quarter. Its revenue from operations rose 20.5% YoY (or 6.1% QoQ) to Rs 29,602 crore during the same period. Digital revenues stood at 56.1% of total revenues, reporting year-on-year constant currency growth of 42.4%. The IT major’s board has declared an interim dividend of Rs 15 per share.  

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Tata Motors partners with Endress+Hauser Flowtec to deploy e-buses for employees

Tata Motors has partnered with Endress+Hauser Flowtec India Pvt. Ltd (EHFI) to deploy electric buses for employee transportation. The automaker has delivered two units of 9-metre 34-seater AC electric buses and a DC fast charger for green employee mobility from its facility in Aurangabad. The electric buses were flagged off at EHFI’s facility in Aurangabad. EHFI is a global leader in measurement instrumentation, services, and solutions for industrial process engineering.

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Wipro Q2 Results: Net profit rises 18.8% YoY to Rs 2,930 crore

Wipro Limited reported an 18.86% YoY increase in consolidated net profit to Rs 2,930.7 crore for the quarter ended Sept (Q2 FY22). However, net profit declined by 9.62% when compared to the previous quarter. Its revenue from operations rose 7.7% QoQ to Rs 19,667.4 crore during the same period. Wipro expects revenues to grow 2-4% in constant currency terms in the December quarter (Q3 FY22).

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UltraTech Cement commissions 1.2 MTPA of cement capacity

Ultratech Cement Ltd announced the commissioning of cement capacity of 1.2 million tonnes per annum (MTPA) in October 2021. The cement major’s Patliputra Cement Works in Bihar added a cement capacity of 0.6 MTPA, taking its total capacity to 2.5 MTPA. Dankuni Cement Works in West Bengal increased cement capacity by 0.6 MTPA, taking its total capacity to 2.2 MTPA. This additional capacity will help Ultratech Cement service the fast-growing cement demand in the eastern markets and increase its blended cement ratio.

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Hero MotoCorp partners with Gilera Motors to expand operations in Argentina

Hero MotoCorp has partnered with Gilera Motors Argentina to reinvigorate and expand its operations in one of the key markets in South America. This move is in line with its aggressive global business strategy. As part of the agreement, Gilera Motors will be the exclusive distributor for the sale and service of Hero MotoCorp motorcycles and scooters in Argentina. It will also make new investments in operations to drive business growth.

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Mindtree Q2 Results: Net profit rises 57% YoY to Rs 398.9 crore

Mindtree reported a 57.23% YoY increase in consolidated net profit to Rs 398.9 crore for the quarter ended Sept (Q2 FY22). Net profit increased by 16.16% when compared to the previous quarter. The IT company’s revenue from operations rose 34.3% YoY (or 13% QoQ) to Rs 2,586 crore during the same period. Mindtree’s board has declared an interim dividend of Rs 10 per share.

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Invesco reveals merger talks between ZEEL and Reliance Industries

Invesco, the single largest shareholder of Zee Entertainment Enterprises Ltd (ZEEL), said it had tried to facilitate a possible deal between Reliance Industries Ltd and the company but refuted claims it had pushed for the transaction at a lower valuation. The latest statement from Invesco comes a day after ZEEL CEO Punit Goenka told the company’s board that Invesco had come with a proposal in February for a merger with certain entities owned by a large Indian group with an inflated valuation of at least Rs 10,000 crore. Invesco and ZEEL are locked in a legal battle over the former’s demand for holding an Extraordinary General Meeting (EGM).

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Piramal-Bain Capital fund IndiaRF invests Rs 310 crore in Primacy Industries

India Resurgence Fund (IndiaRF), a joint venture between Piramal Enterprises Ltd and Bain Capital Credit, has invested Rs 310 crore in Primacy Industries Ltd. The investment proceeds will be used towards strengthening the balance sheet of Primacy and providing fresh capital to fuel its growth plans. Primacy Industries is a fast-growing contracting business for fragrance-based consumer products in the air-care, personal care, and health & hygiene categories.

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Sona Comstar partners with NASSCOM to boost digital skills of employees

Sona Comstar has partnered with FutureSkills Prime– a MeitY-NASSCOM Digital Skilling Initiative to upskill its workforce in cutting-edge digital technologies with industry-relevant and government-recognized curriculum-based courses. FutureSkills Prime is the first-of-its-kind public-private cooperation between the Ministry of Electronics and Information Technology (MeitY) and NASSCOM to create a digital skilling ecosystem for India’s citizens. 

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