Reliance Industries, Union Bank and PVR to see some action today

Reliance Industries (RIL) and BP’s fuel and mobility joint venture, Reliance BP Mobility, launched its first Jio-bp branded mobility station at Navde, Navi Mumbai, Maharashtra. The joint venture operates fuel retail stations under the Jio-bp brand and is in the process of rebranding the existing 1400 fuel pumps. The joint venture is well-positioned to become a leader in fuels and mobility by leveraging Reliance’s vast presence and deep experience in consumer businesses across India, with its hundreds of millions of customers in Jio and Reliance Retail, and bp’s extensive global experience in high-quality differentiated fuels, lubricants, convenience and advanced low carbon mobility solutions.

State-owned Union Bank announced reducing its home loan rates to its all-time low of 6.40 per cent. The reduced rate will be effective from 27th October 2021. The new rates will be applicable to customers applying for new loans or those who wish to transfer their existing loans including balance transfers.

PVR Cinemas is all set to foray into the customised cleaning and disinfecting services business under its newly-launched vertical V-Pristine. Through V-Pristine, PVR Cinemas will provide its solutions to both commercial and residential segments, extending the same quality and standards that the customer is used to at its premium cinema halls.

HPL Electric & Power has secured order worth Rs 178.9 crore for smart metering technology from the largest private utility of a state in Eastern India. This further strengthens HPL Electric & Power’s leadership position in smart meter manufacturing sector across Indian Markets. At a time when reports of power shortages are making headlines, smart meters will definitely reduce distribution losses, remove theft and pilferage of power. This prestigious order has been secured amidst stiff competition.

KIOCL and Glencore International AG (GIAG) signed a non-binding Memorandum of Understanding (MoU) on 25th October, 2021, whereby KIOCL will supply iron ore pellets to GIAG for further sale by GIAG in South Korean, European and Non-Chinese market. The MoU shall be valid for a period of one year.

Further strengthening its presence in the United Arab Emirates (UAE), Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, has inaugurated a new exclusive dealership in Dubai. Expanding its footprint in the UAE, the company commenced operations at the new exclusive showroom located in the Al Gazal Mall, on 2nd December Street, Jumeirah 1, Dubai. The state-of-the-art workshop, enabling 3S (sales, service, spares) operations, is located at Al Quoz Road No.318, Al Quoz Industrial Area III, Dubai.

Canara Bank has reported results for second quarter ended September 30, 2021. The bank has reported above 3- fold jump in its net profit at Rs 1332.61 crore for the quarter under review as compared to net profit of Rs 444.41 crore for the same quarter in the previous year. Total income of the bank increased by 2.59% at Rs 21331.49 crore for Q2FY22 as compared Rs 20793.92 crore for the corresponding quarter previous year. On the consolidated basis, the bank has reported above 2- fold jump in its net profit after minority interest of Rs 1314.41 crore for the quarter under review as against net profit of Rs 466.41 crore for the same quarter in the previous year. Total income of the bank increased by 5.47% at Rs 23876.00 crore for Q2FY22 as compared Rs 22638.26 crore for the corresponding quarter previous year.