Cochin Shipyard, Ashiana Housing and Coromandel International to see some action today

Cochin Shipyard (CSL) has bagged a large order from a European Client, for the design and construction of a Hybrid Service Operation Vessel (Hybrid SOV) with an option for two more such vessels. The vessel is equipped with hybrid battery systems to improve the energy efficiency and reduce the carbon foot prints. The vessel is designed and built for the service, maintenance and operational needs of the offshore wind farm industry in the European market where sustainable energy solutions are in high demand. The project is expected to be completed by the end 2026.

Ashiana Housing has raised Rs 125 crore through the allotment of 12,500 Secured, Rated, Listed, Senior Redeemable, Taxable, Non-Convertible Debentures (NCDs) on Private Placement basis. The Executive Committee of Board of Directors of the company (through Resolution by Circulation) on May 13, 2024, has allotted the same. 

Coromandel International’s wholly owned subsidiary-- Coromandel Technology has executed agreements to acquire additional shareholding in Dhaksha Unmanned Systems (Dhaksha) at a consideration of Rs 149.98 crore. Post completion of the above transactions, the company, through its wholly owned subsidiary, Coromandel Technology, will increase its equity stake in Dhaksha from existing 51.02% to 58.01%.

Hero MotoCorp has joined the ONDC Network, thereby becoming the first auto company in the country to join the network. Hero MotoCorp already has the largest physical distribution and service network in Indian Auto Industry. Partnering with ONDC will further enhance the reach and convenience, providing an easily accessible digital mode to customers. The Open Network will initially offer two-wheeler parts, accessories and merchandise. Customers can easily discover Hero Genuine Parts by using any buyer apps on the Network, such as Paytm and Mystore, among others.

In line with its commitment towards offering sustainable mobility solutions and enabling customers with the power of choice, TVS Motor Company has launched a new variant of the TVS iQube with 2.2 kWh battery. Simultaneously, the company is ready to deliver TVS iQube ST to customers, starting May 13, 2024. The TVS iQube ST will now come in two variants, 3.4 kWh and 5.1 kWh, that being the largest battery pack in the segment. With this, the TVS iQube series now offers an array of five variants available in vibrant 11 colours, making this one of the largest and most attractive EV portfolios in the market.

Karur Vysya Bank has reported 35.01% rise in its net profit at Rs 456.10 crore for the quarter ended March 31, 2024 as compared to Rs 337.82 crore for the same quarter in the previous year. Total income of the bank increased by 29.70% at Rs 2,813.42 crore for Q4FY24 as compared Rs 2,169.13 crore for the corresponding quarter previous year.

Tata Consultancy Services (TCS) has announced the creation of a Global Artificial Intelligence (AI) Center of Excellence in Paris. The new AI center will be based in the upcoming TCS PacePort in the La Défense area of Paris, which will be inaugurated in June 2024, becoming the 7th such facility in TCS’ global Pace network, following Amsterdam, London, New York, Pittsburgh, Toronto, and Tokyo. The TCS AI Center of Excellence in Paris will leverage TCS’ global ecosystem of startups, academia, and research organizations to bring the best of global capabilities to French companies. The new center will join France’s growing AI ecosystem and tap into its deep talent base in design and engineering, to build advanced technologies in the space of human-centric AI. It will focus on pushing the boundaries of how AI can be designed and evolved to address business efficiencies and societal priorities. The impact areas shall include some of the key priorities listed in France’s National Strategy for AI, as part of the France 2030 plan.