JK Tyre and Industries, RITES and Speciality Restaurants to see some action today

JK Tyre and Industries has planned a capital expenditure of Rs 1,100 crore till next financial year. The tyre maker plans to invest in capacity expansion as well as regular maintenance of the existing infrastructure.

RITES has signed a memorandum of understanding (MoU) with the Planning & Programme Implementation Department, Government of Mizoram, to leverage the opportunities provided by the National Infrastructural Pipeline (NIP) and boost infrastructural development initiatives of the North-Eastern state. The company will lend its technical expertise and explore collaborations with the Government of Mizoram in developing industrial and logistic parks, including integrated check posts, signalling & workshops, metro railway systems, urban engineering & sustainability, water, sanitation, infrastructure, and renewable energy, etc., to attract public-private-partnerships and investments in the state.

Speciality Restaurants has agreed to acquire 100% of the Equity Share Capital of Speciality Hotels India. The proposed acquisition is in line with the Company's strategic intent in the Hospitality Industry. Subject to fulfillment of agreed terms and conditions, the acquisition is expected to be completed on or before June 30, 2022.

Tech Mahindra has entered into a partnership with Amesto Aces AS, the latest up-skilling initiative by Amesto Group, to provide trained & certified Salesforce resources to its customers across Europe. Amesto Aces is part of the Amesto Group that has recently retained its place as one of Norway’s most innovative companies in the labour market. They provide young people between the ages of 18 and 30 with the opportunity to become certified Salesforce consultants, providing valuable up-skilling and becoming a sought-after resource.

Tata Motors has filed record 125 patents related to powertrain technologies in FY22. The number of patents filed in the last financial year was the highest ever for the auto major so far. The patents filed entail a diverse range of innovations and developments in traditional and new energy powertrain technologies, safety, connected vehicle technologies, body in white (BIW), and trim along with other vehicle systems. Of the total filings, 56 patents were approved in the 2021-22 fiscal.

JSW Steel has earmarked Rs 20,000 crore capital expenditure in the current fiscal and hoped that headwinds such as export duty on steel and high coking coal prices are likely to be short-lived.  The company does not expect any substantial easing of price of the metal in the domestic market from the current levels, unless the prices of coking coal, a key raw material for the steel manufacturing, moderate in the international market.

Oil India has reported results for fourth quarter ended March 31, 2022. The company has reported 92.32% rise in its net profit at Rs 1630.01 crore for the quarter under review as compared to Rs 847.56 crore for the same quarter in the previous year. Total income of the company increased by 27.20% at Rs 4972.91 crore for Q4FY22 as compared Rs 3909.61 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 2527.33 crore for the quarter under review as compared to Rs 1142.42 crore for the same quarter in the previous year. Total income of the company increased by 29.21% at Rs 9294.52 crore for Q4FY22 as compared Rs 7193.40 crore for the corresponding quarter previous year.