Tech Mahindra, SML Isuzu and TVS Motor Company to see some action today

Tech Mahindra has entered into partnership with Union Bank of India (UBI). As a part of the partnership, for enabling Union Bank of India to be on Metaverse, Tech Mahindra worked with Union Bank of India to launch India’s first PSU Metaverse Lounge, “Uni-Verse”. In the first phase, Tech Mahindra’s Research & Development (R&D) arm, Makers Lab, has built Metaverse ‘Virtual lounge’ for the bank to deliver an interactive and immersive customer experience.

SML Isuzu has sold 1020 vehicles in July 2022 against 551 vehicles in July 2021, showing a rise of 85 percent. Besides, the company has sold 4531 units in April to July 2022 as against 1363 units in April to March 2021, showing a rise of 232 percent. On segment-wise, in July 2022, the company's passenger vehicles sales stood at 700 units, up 560% yoy. While cargo vehicles sales were at 320 units, falling by 28% yoy.   

TVS Motor Company has registered a growth of 13% in July 2022 with sales of 314,639 units as against 278,855 units in the month of July 2021. Total two-wheelers registered a growth of 14% in July 2022 with sales increasing from 262,728 units in July 2021 to 299,658 units in July 2022. Domestic two-wheeler registered growth of 15% with sales increasing from 175,169 units in July 2021 to 201,942 units in July 2022.

Atul Auto has reported sale of 1,900 units, with a rise of 45.59% for the month of July 2022 as compared to 1,305 units sold in July 2021. The company’s total sales for April-July 2022 stood at 7,105 units, reported 2-fold jump as compared to 3,044 units in the same period last year.   

NMDC has reported 2.05 million tonne (MT) of iron ore production and logged sales volume of 2.95 MT in the month of July 2022. The company’s Chhattisgarh mines produced 1.12 MT of iron ore and registered sales volume of 1.38 MT, while Karnataka mines produced 0.93 MT of iron ore and sold 1.57 MT of iron ore in June 2022.   

Linde India has signed a long-term agreement with Jindal Stainless (JSL), the largest stainless-steel conglomerate in India for setting up of a 1,450 tonnes per day new Air Separation Unit (ASU) to meet industrial gases requirement for JSL's expansion project at Kalinganagar in Odisha.

Escorts Kubota has reported results for first quarter ended June 30, 2022. The company has reported fall of 20.38% in its net profit at Rs 147.45 crore for the quarter under review as compared to Rs 185.20 crore for the same quarter in the previous year. However, total income of the company increased by 19.29% at Rs 2050.29 crore for Q1FY23 as compared Rs 1718.71 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a fall of 21.22% in its net profit at Rs 140.59 crore for the quarter under review as compared to Rs 178.45 crore for the same quarter in the previous year. However, total income of the company increased by 18.11% at Rs 2067.58 crore for Q1FY23 as compared Rs 1750.61 crore for the corresponding quarter previous year.