IGI Logo

Key News

Michelin becomes first tyre maker in India to get BEE accreditation

French tyre major Michelin on Wednesday said it has become the first tyre brand in India to be accredited with the recently introduced star labelling programme which is aimed at improving sustainability and newly introduced performance standards for tyres. Michelin X Multi Energy Z tyre has been awarded the industry's first fuel savings label with a 4-star rating by the Bureau of Energy Efficiency (BEE), the company said in a statement.

TVS Motor Co signs deal with Rapido to strengthen hyperlocal mobility biz

Chennai-based two-wheeler major TVS Motor Company has entered into a strategic partnership with Rapido, a leading on-demand delivery and mobility platform. As part of the deal, TVS Motor and Rapido will look to collaborate by leveraging synergies of their respective businesses in the fastmoving mobility market in India. By signing this MOU, TVS Motor and Rapido are bringing together their strength in mobility and seamless technology platform, respectively, to deliver a winning proposition to this demanding user base. This partnership will cover both two-wheeler and three-wheeler vehicles and extend across internal combustion engine and electric vehicle segments.

Axis Bank Earnings Preview | Net profit to soar 49% on falling provisions

Private sector lender Axis Bank is expected to post strong growth in net profit and interest income in the quarter ended March despite likely muted operating performance. The net profit in the quarter is likely to grow 49 percent on year to Rs 3,977 crore, according to seven brokerages polled by Moneycontrol. Growth will largely be driven by a sharp decline in provisions. The lender will report its earnings for the March quarter on April 28.

Airtel buys 7% in cloud networking startup Cnergee Tech for undisclosed sum

Telecom operator Bharti Airtel has acquired around 7 per cent stake in cloud-based networking solutions provider Cnergee Technologies under the Airtel Startup Accelerator Program. The stake acquisition will enable Airtel to sharpen its NaaS proposition for Small and Medium Businesses (SMBs), who are looking to accelerate their shift to cloud-based applications, Airtel said in a statement.

Maruti Suzuki joins hands with Indian Bank for car loans

Maruti Suzuki India (MSI) on Wednesday said it has joined hands with Indian Bank to facilitate easy finance for customers. As part of the partnership, the company's customers can avail the loan benefits in over 5,700 plus branches of Indian Bank at metro, urban, semi-urban and rural locations. Maruti Suzuki customers, under this exclusive scheme, can avail loans up to 90 per cent of the on-road price of the car besides getting benefits of zero processing charges, free accidental insurance cover up to Rs 30 lakh, free fastag and repayment tenure up to 84 months on their loans. The scheme is open till June 30 2022.

HUL Q4 standalone net up 8.6% to Rs 2,327 crore, net sales rise by 10%

FMCG major Hindustan Unilever on Wednesday posted standalone net profit rose 8.6 per cent to Rs 2,327 crore for the fourth quarter ended March 31, 2022. The company had posted net profit of Rs 2,143 crore in the year ago period. HUL's net sales grew 10 per cent to Rs 13,190 crore for the period. The company's board has recommended a final dividend of Rs 19 for FY22.HUL reported an EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 3,245 crore during the March quarter, higher by 10% over last year quarter

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740

Above views are of the author and not of the website kindly read disclaimer