The February futures contract of Nifty 50 traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 18,065, up 44.5 points or 0.25% from the previous close.
Earnings Today: Nestle India, and Schaeffler India will report the October-December quarter (Q3FY23) results on Thursday, February 16.
Hero MotoCorp: Chief Financial Officer Niranjan Gupta expects export contribution of at least 10 per cent to the overall revenue pie in the medium to long-term. At present, the overseas shipments share in the overall turnover pie is low single digit. The company also plans to scale up presence in domestic premium segment in the next three to five years.
NTPC: The state-owned power giant plans to raise term loan of Rs 6,213 crore in Japanese Yen denomination to finance its capital expenditure on new and ongoing projects. The company has sought bids for the Japanese Yen loan, which will be raised through external commercial borrowing route. READ MORE
Hindustan Aeronautics: The company inked Transfer of Technology (ToT) pact with CSIR-National Aerospace Laboratories for the design know-how, production, and commercialization of composite fin, and rudder assemblies for the Light Combat Aircraft – Tejas at Aero India.
With this agreement, the firm can directly produce composite parts for the series production of LCA-Mk1A.
MTNL: The company’s consolidated loss widened to Rs 775.5 crore in Q3FY23 from Rs 659.2 crore, in the year-ago period. Consolidated revenue from operations, too, fell 25 per cent to Rs 227.41 crore in the third quarter from Rs 303.5 crore in Q3FY22.
Bharat Dynamics: The company launched three new products during the ongoing Aero India – 2023 in Bengaluru. They launched products like vertical launched – short – range surface- to- air missile or VL SR SAM’, ‘semi-active laser seeker homing anti-tank guided missile for BMP – II’ and ‘drone delivered missile.’
Bharat Electronics: The company signed agreement with Goa Shipyard for supply of state-of-the-art products such as autonomous boats, other systems or solutions based on artificial intelligence for naval platforms.
Patel Engineering: The company along with its joint venture partner have been declared lowest bidder (L1) for Rs 1,567 crore projects in Madhya Pradesh and Maharashtra. The company’s share in these new orders stood at Rs 1,006 crore.
PTC Industries: The company inked pact with Hindustan Aeronautics to explore opportunities for mutual cooperation and business development for indigenisation of aviation grade raw Materials, components, sub-systems and systems of aero-engines of Russian origin aircraft. The management said that this agreement would usher technological excellence for manufacturing of critical aeroengine parts and small engines within the country.
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