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JLR reports 68% increase in retail sales in June qtr at 1,24,537 units

Tata Motor's owned Jaguar Land Rover (JLR) on Tuesday reported a 68 per cent increase in retail sales for the first quarter ended June 30 at 1,24,537 units as compared with the same period of the previous fiscal, reflecting the continuing recovery in demand from the COVID 19 pandemic. The company had retailed 74,067 units in the April-June quarter of 2020-21. However, wholesales, in particular, were lower than demand would have permitted due to semiconductor supply issues affecting the global auto industry, JLR noted in a statement.

74% companies plan to divest non-core assets in 24 months: EY India survey

The continuing effects of the Covid-19 pandemic are providing an impetus to companies to focus on divesting non-core assets, with 74 per cent of the surveyed companies planning to divest in the next 24-months, says the EY India Corporate Divestment Study 2021. The survey highlights that one of the biggest challenges faced by CEOs today is identifying the right time to divest assets as 70 per cent of surveyed companies said that they held on to assets for too long.

NCLAT issues notices to lenders, Piramal on 63 Moons Technologies' plea

The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notices to DHFL's lenders and its winning bidder Piramal Capital over a petition filed by 63 Moons Technologies challenging the resolution process of the debt-ridden firm. A two-member bench comprising its Officiating Chairperson Justice A I S Cheema and Member Alok Srivastava issued notices to the lenders of Dewan Housing Finance Corporation Ltd (DHFL) and its successful bidder Piramal Capital & Housing Finance Ltd.

Tata Steel outlines Rs 10,000-12,000 cr annual India capex over next 5 yrs

Tata Steel is poised for the next phase of growth even as it continues to stay the course on deleveraging. Over the next five years, the average India capital expenditure is estimated at Rs 10,000-12,000 crore per annum and that excludes potential acquisitions. As against a $1 billion annual debt reduction target, the company is likely to reduce gross debt by over $2 billion in FY22. Koushik Chatterjee, executive director and chief financial officer, Tata Steel, told investors on Tuesday that the company would continue to deleverage and make its balance sheet stronger in order to position for the next phase of growth.

TCS enters strategic partnership with OTT streaming platform SonyLIV

IT services major Tata Consultancy Services (TCS) entered into a strategic partnership with India’s premier OTT streaming platform, SonyLIV, to help create an innovative business model enabled by digital technologies, enhance customer experience, and pave the path to future growth. The partnership will leverage TCS’ next-gen digital capabilities, global expertise, domain knowledge and innovation ecosystem to define SonyLIV’s platform transformation roadmap for India and global markets. TCS will help enhance its core OTT platform to leverage AI and machine learning to provide personalized experiences to subscribers across devices.

Double-digit volumes to drive Q1 growth for Godrej Consumer, Marico

The June quarter operational updates by Godrej Consumer Products (GCPL) and Marico point to a strong double digit volume and sales growth for the two companies and for the broader fast moving consumer goods sector. GCPL highlighted that sales growth in the domestic market would be in the high teens, driven by strong volume growth and calibrated price increases.

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