JSW Steel, Apollo Tyres and Reliance Industries to see some action today

To offset the rising input cost, JSW Steel is planning to levy a surcharge on sale of its steel products to its long-term OEM (original equipment manufacturer) customers. JSW Steel will be the first company to introduce the concept of surcharge to the domestic steel market.

Strengthening its product offering further in the Indian market, Apollo Tyres has launched the premium European brand, Vredestein in India. The Vredestein brand of tyres will be manufactured at the state-of-the-art facilities in India, and will cater to the premium and luxury segment in passenger cars, while the two-wheeler tyres from the brand would cater to the growing superbiking segment in India.

Reliance Industries has reported results for second quarter ended September 30, 2021. The company has reported 44.07% rise in its net profit at Rs 9228 crore for the quarter under review as compared to net profit of Rs 6405 crore for the same quarter in the previous year. Total income of the company increased by 63.87% at Rs 107187 crore for Q2FY22 as compared Rs 65410 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported 43% rise in its net profit attributable to owners of the company at Rs 13,680 crore for the quarter under review as against net profit of Rs 9,567 crore for the same quarter in the previous year. Total income of the company increased by 48.06% at Rs 178,328 crore for Q2FY22 as compared Rs 120,444 crore for the corresponding quarter previous year.

Deepak Fertilisers and Petrochemicals Corporation has raised Rs 510 crore through the issue of equity shares to institutional investors.  The securities issue committee of the board of directors at its meeting approved the closure of the issue on October 22.

Tata Consultancy Services (TCS) has launched the official 2021 TCS New York City Marathon app that will allow fans to simultaneously track runners on the racecourse as well as those who are competing virtually from anywhere in the world. The Mumbai-based IT services major is the title sponsor of the TCS New York City Marathon.

Bank of India has opened its first ever branch in Leh. The branch is fully computerized and digitized with facility of E-Gallery to provide 24 by 7 banking. Now, the bank has total 5086 branches.

In the changing landscape in Energy sector, Hindustan Petroleum Corporation (HPCL) is committed towards expansion of Infrastructure to enhance its presence in Gas Value Chain. In this direction, HPCL has achieved its maiden 100 TMT of Gas sourcing & marketing during the current financial year.