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Maruti to hike prices from April 1, other firms may follow as costs rise

Maruti Suzuki India, the country's largest carmaker, said on Monday it will increase prices from April as it seeks to meet high input costs. The company did not specify the price hike but it will be second round within three months. Other companies are likely to hike prices by 1-3 per cent now to offset input cost pressures, especially in steel. The hikes, however, will be undertaken carefully, so that it doesn’t hurt sales. Fueled by new launches and an economic recovery, auto sales in India have been on an upswing. Maruti, which makes WagonR and Alto, last hiked prices of select models by up to Rs 34,000 on January 18. Other firms too increased prices, hinting at another round if commodity prices continue to rise.

RailTel net profit rises 60% to Rs 70 crore in December quarter

RailTel Corporation of India on Monday reported a 60.4 per cent rise in its consolidated net profit at Rs 69.6 crore for the quarter ending December 31, 2020. It was Rs 43.23 crore in the same period last year. The revenue from operations rose by 51.85 per cent to Rs 410.6 crore as against Rs 270 crore in the same period last year. The Board has declared an interim dividend at the rate of 10 per cent of paid-up share capital, which comes to about Rs 1 per share. The total expenses of the company increased to Rs 323 crore for the quarter under review.

Future Group says NCLT can continue hearing on RIL deal as per SC direction

The Future group on Monday said the NCLT can continue its hearing over the sale and merger of its retail business with Reliance Industries' retail arm after a division bench of the Delhi High Court stayed the previous order with regard to the Rs 24,713 crore deal. "A Division Bench of Delhi High Court comprising Chief Justice DN Patel and Justice Jasmeet Singh has stayed the interim order pronounced by Justice JR Midha on March 18, 2021, that included certain extreme directions in an earlier interim order originally passed on 2nd February 2021," said a statement Future Coupons Pvt Ltd.

BHEL to start end-to-end solar equipment manufacturing, seeks consultants

State-owned BHEL Limited plans to make complete solar equipment in India, encouraged by the government’s plan to push local manufacturing through incentives under the Atmanirbhar Bharat scheme. The company plans to have a complete value chain: from raw material quartz (polysilicone) to wafers and then finished products like cells and modules. BHEL recently came out with a tender to hire consultants for preparing the ‘detailed project report (DPR)’ for its solar manufacturing plans.

Moody's upgrades Indusind to 'stable' outlook, affirms long-term ratings

Moody's has upgraded its outlook for Indusind Bank from "negative" to "stable", citing the Indian private lender’s improvement in funding and capital. The bank’s asset quality slipped marginally in the economic disruption caused by the Covid-19 pandemic. The rating agency affirmed the long-term local and foreign currency deposit ratings of IndusInd Bank at Ba1 and its baseline credit assessment (BCA) and adjusted BCA at ba2. The affirmation of the BCA and the deposit ratings factors in the bank's strong capital and core profitability, as well as a relatively modest funding. Despite the economic disruption asset quality deterioration was moderate. This is even after including those benefiting from the Supreme Court order on loan classification with Gross Non Performing Loans ( NPL) at 2.93 per cent in December 2020 ( 2.18 per cent in December 2019).

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