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Ashok Leyland expects turnaround in CV business, 30% market share in FY23

Hinduja flagship Ashok Leyland is eyeing a strong comeback in the commercial vehicle segment this year as it looks to consolidate its position in the intermediate commercial vehicle (ICV) segment and reap benefits of enhanced demand for its modular AVTR range, according to a top company official.

The Chennai-based company is also betting on overall improvement in the economic situation and a gradual easing of supply chain issues to cross 30 per cent market share in the commercial vehicle (CV) segment in 2022-23.

RIL lists over $7 bn worth of existing foreign currency bonds on India INX

Reliance Industries Ltd (RIL) has listed its existing foreign currency bonds aggregating over USD 7 billion on India INX, making it the largest such listing by a private entity in India INX and GIFT IFSC. The securities include the USD 4 billion worth jumbo bonds raised in January 2022, which was termed as the largest ever foreign currency bond issuance by an Indian entity

Vedanta enters into pact with TERI to accelerate its ESG goals

Vedanta on Thursday said it has signed a pact with TERI to accelerate its Environmental, social, and governance (ESG) goals. Vedanta plans to invest around Rs 200 crore over the next five to 10 years on R&D and sustainability initiatives to promote and build a sustainable ecosystem

Puravankara to invest Rs 1,550 cr to construct realty project in Kochi

Realty firm Puravankara Ltd will invest over Rs 1,550 crore to construct a 3 million mixed-use project, mainly housing, at Kochi in Kerala as part of its plan to expand business amid rise in demand of apartments post the second wave of COVID-19 pandemic

The company's subsidiary Provident Housing Ltd will develop 3 million square feet in the project, which is spread over 18 acres, named 'Provident Winworth' at Kochi. Puravankara is expecting a sales realisation of about Rs 3,000 crore from this project over the next 6-7 years.

Nestle India Q4 profit dips 20% to Rs 386.66 cr, net sales up 8.9%

FMCG major Nestle India Ltd on Thursday reported a 20 per cent decline in its net profit at Rs 386.66 crore for the fourth quarter ended December 31, 2021, as the company faced inflationary headwinds on raw material inputs.

The company, which follows a January-December financial year, had posted a profit of Rs 483.31 crore in the same period a year ago, Nestle India said in a regulatory filing. However, its revenue from operations was up 8.93 per cent to Rs 3,739.32 crore during the period under review, as against Rs 3,432.58 crore in the corresponding period last fiscal, the company said

Poonawalla Fincorp looking to exceed AUM of Rs 21,000 crore by FY23

After seeing flat growth in assets under management (AUM) till Q3FY22, Poonawalla Fincorp (PFL) expects to increase the monthly disbursement of loans from around Rs 600 crore now to Rs 1,000 crore till March 2023. It is looking to cross AUM of Rs 21,000 crore by the end of FY23. Thereafter, it plans to expand the book at a compound annual growth rate (CAGR) of 30- 32 per cent. The company's AUM was flat at Rs 15,228 crore at the end of December 2021 against Rs 15,006 crore in December 2020. It was Rs 15,275 crore in September 2021.

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