Infosys, NTPC and SBI to see some action today

Infosys has entered into strategic three-year partnership with the ABB FIA Formula E World Championship, the global motorsport championship for electric cars, as its official Digital Innovation Partner. Through this collaboration, Infosys will provide in-race analytics, unlock fan engagement experiences, and enhance sustainability reporting and tracking for the Formula E championship. The partnership between Infosys and Formula E will focus on three core areas: fan growth, technology innovation, and continued environmental stewardship. 

NTPC has achieved 20 per cent torrefied biomass co-firing at Unit-4 at Tanda thermal plant in Uttar Pradesh. The company has established co-firing of 7-10 per cent non-torrefied biomass with coal at NTPC Dadri. However, to achieve higher percentages of biomass co-firing without major modifications, the possibility of using torrefied biomass was explored by Energy Transition and Policy Research Division of NTPC Engineering. The initiative was a first of its kind in the Indian power sector, showcasing NTPC's commitment to decarbonising existing coal-fired fleets and advancing towards net-zero emission targets.

State Bank of India (SBI) has reported 18.50% rise in its consolidated net profit at Rs 21,736.47 crore for fourth quarter ended March 31, 2024 as compared to Rs 18,343.45 crore for the same quarter in the previous year. Total income of the bank increased by 20.51% at Rs 1,64,914.36 crore for Q4FY24 as compared Rs 1,36,852.39 crore for the corresponding quarter previous year.

Power & Instrumentation (Gujarat) has been awarded with the prestigious contract for the Development of Substation at Sardar Vallabhbhai International Airport, Ahmedabad, Adani Group. This significant project is poised to enhance the infrastructure of the airport and contribute to its operational efficiency. The Letter of Award (LOA) was issued by Ahmedabad International Airport, acknowledging Power Instrumentation’s (Gujarat) expertise and commitment to excellence. The contract, valued at Rs 20.93 crore, encompasses comprehensive development tasks in line with the agreed scope of work.

EFC (I) has received approval for strategic investment for an aggregate amount of Rs 2 crore (being 2,46,914 Equity Shares of Rs. 10 each at an issue price of Rs 81 per share) in Eleganz Interiors by way of subscribing to the Private Placement Offer. Eleganz Interiors stands at the forefront of delivering innovative interior business solutions, representing a strategic vertical investment within the Company's portfolio. The Board of Directors of the Company at their meeting held on May 9, 2024, has approved the same.

Adani Enterprises -- Mauritius-based subsidiary, Adani Global, has acquired a 49 per cent stake in UAE-based Sirius Digitech for $24,500.

Hindustan Petroleum Corporation (HPCL) has reported results for fourth quarter (Q4) ended March 31, 2024. The company has reported 11.79% fall in its net profit at Rs 2,842.75 crore for the quarter under review as compared to Rs 3,222.62 crore for the same quarter in the previous year. However, total income of the company increased by 5.87 % at Rs 1,22,386.14 crore for Q4FY24 as compared Rs 1,15,604.69 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 24.91% fall in its net profit at Rs 2,709.31 crore for fourth quarter ended March 31, 2024 as compared to Rs 3,608.32 crore for the same quarter in the previous year. However, total income of the company increased by 6.03% at Rs 1,22,100.30 crore for Q4FY24 as compared Rs 1,15,151.57 crore for the corresponding quarter previous year.