Uttam Sugar Mills, JSW Energy and Bafna Pharmaceuticals to see some action today

Uttam Sugar Mills has installed and implemented the ‘Incineration Boiler’ at the distillery unit Barkatpur in Uttar Pradesh (UP). This will result in increase in the distillery capacity of the company from 450 lakh BL p.a. to 540 lakh BL p.a.

JSW Energy’s 100% subsidiary -- JSW Future Energy had received Letter of Awards (LoA) for total Blended Wind capacity of 810 MW from Solar Energy Corporation of India (SECI) in respect of the Tariff based Competitive Bid invited by SECI for setting up of 2500 MW ISTS-connected Blended Wind Power Projects.

Bafna Pharmaceuticals has added two fully automated packaging lines to its existing capacity and they have been approved by the UK-MHRA (Medicines and Healthcare products Regulatory Agency) for the United Kingdom and the European Union (EU). This approval will enable the company to increase its output and consequentially generate higher revenue and profits.

Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on ICICI Bank. The penalty is for contravention of certain directions issued by the RBI contained in Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks’ dated July 1, 2015.

Maruti Suzuki India has reported a 4 per cent decline in total sales to 1,59,691 units in April as compared to 1,67,014 units in March this year as a spike in COVID-19 cases hit dispatches. The company did not sell any unit in the domestic market in April last year due to the nationwide lockdown. Its domestic sales in April stood at 1,42,454 units, down 8 per cent from 1,55,417 units in March. Sales of mini cars, comprising Alto and S-Presso, increased by 2 per cent to 25,041 units in April as against 24,653 units in March. Sales of compact segment vehicles, including Swift, Celerio, Ignis, Baleno and Dzire, declined by 12 per cent to 72,318 units from 82,201 cars in March this year. Sales of mid-sized sedan Ciaz, declined by 4 per cent to 1,567 units as compared to 1,628 units in March this year.

Motherson Sumi Systems through its Mexican subsidiary, Motherson Rolling Stocks S. de R.L. de C.V. (MRS), has successfully completed the acquisition of assets and activities of Electrical Wiring Interconnection Systems (EWIS) performed at Bombardier Transportation’s manufacturing site in Huehuetoca, Mexico (BT Ensambles México).

Kotak Mahindra Bank has reported results for fourth quarter March 31, 2021. The bank has reported 32.83% rise in its net profit at Rs 1682.37 crore for the quarter under review as compared to Rs 1266.60 crore for the same quarter in the previous year. Total income of the bank increased by 1.26% at Rs 8398.39 crore for Q4FY21 as compared Rs 8294.07 crore for the corresponding quarter previous year. On the consolidated basis, the bank has reported 35.91% rise in its net profit at Rs 2589.32 crore for the quarter under review as compared to Rs 1905.18 crore for the same quarter in the previous year. Total income of the bank increased by 33.85% at Rs 16175.87 crore for Q4FY21 as compared Rs 12084.71 crore for the corresponding quarter previous year.