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Bharat Dynamics to supply Astra Mark-1 missiles worth Rs 2,971 crore

The Ministry of Defence (MoD) signed a contract on Tuesday with Bharat Dynamics Limited (BDL) for building Astra Mark-1 beyond visual range air-toair missiles (BVRAAMs) worth Rs 2,971 crore for the Indian Air Force (IAF) and the Navy. The Astra Mark-1 missile, which has been developed by the Defence Research & Development Organisation (DRDO), can engage enemy fighter aircraft at ranges of up to 75 kilometres, the MoD told the Lok Sabha on May 6, 2016.

ITC Infotech eyes $500 mn revenue over five years from new business unit

ITC Infotech is eyeing revenues of $500 million over the next five years from DxP Services – a unit being created from the acquisition of a portion of US software and services company, PTC’s, product lifecycle management (PLM) business.

Last month, ITC Infotech announced that it would be acquiring a part of PTC’s product lifecycle management (PLM) implementation services business and create a new business unit, DxP Services, combining professional services experts from both companies. The transaction is set to close. The acquisition is the first from ITC Infotech, set up in 2000 by the diversified conglomerate, ITC. The financial commitment from ITC Infotech towards this agreement is $115 million over five years.

Coffee Day Enterprises reports Q4 consolidated net profit at Rs 58.67 cr

Coffee Day Enterprises Ltd has reported a consolidated net profit of Rs 58.67 crore for the fourth quarter ended March 2022.

The company had posted a net loss of Rs 272.09 crore in the January-March quarter a year ago, Coffee Day Enterprises Ltd (CDEL) said in a BSE filing. CDEL's revenue from operation rose 2.81 per cent to Rs 169.81 crore against Rs 165.16 crore in the year-ago period.

Kinara Capital plans to add 700 employees by November

Kinara Capital, a fintech company serving Micro, Small and Medium Enterprises (MSMEs), said on Tuesday it plans to add 700 employees across its 125 branches and Bengaluru head office within the next six months.

It said job opportunities are available at all levels, from new graduates to experienced senior management. Available field roles at the branch level are positions in sales, collections, operations, credit Risk, and Internal Quality Audit (IQA), it was stated.

Religare Enterprises, Religare Finvest settle Sebi case; pay Rs 10.5 cr

Religare Enterprises and Religare Finvest on Tuesday settled with markets regulator Sebi a case pertaining to alleged financial mismanagement and diversion of funds after collectively paying Rs 10.5 crore towards settlement fees.

Individually, Religare Enterprises Ltd (REL) and Religare Finvest Ltd (RFL) paid Rs 5.42 crore and Rs 5.08 crore towards settlement amount respectively, the Securities and Exchange Board of India (Sebi) said in a settlement order.

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