Bharti Airtel, Reliance Industries and Shriram Transport Finance Company to see some action today

Bharti Airtel will start rolling out 5G services this month and cover all towns and key rural areas of the country by March 2024. Bharti Airtel in the recently-concluded spectrum auction acquired 19,867.8 MHz frequencies by securing a pan-India footprint of 3.5 GHz and 26 GHz bands and select purchase of radiowaves in the low and mid-band spectrum for a total consideration of Rs 43,040 crore.

Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has taken major steps during 2021-22 in getting ready for 5G with its 100 per cent indigenous technology. Jio has completed 5G coverage planning in top 1,000 cities and conducted field trials of its home-grown 5G telecom gears. The company was the biggest bidder in the recently-concluded 5G spectrum auction.

Shriram Transport Finance Company has announced to raise fixed deposit rates by up to 0.5 per cent across tenors with effect from August 10. The new interest rates will apply on deposit tenures between 12-60 months (1-5 years). With the hike in fixed deposit rates by 25-50 basis points or 0.25-0.50 per cent per annum across different tenures, customers can earn interest up to 8.75 per cent on fixed deposits, effective from August 10, 2022.

Dynamatic Technologies has executed an SPA on August 08, 2022, for making additional investment in Dynamatic Manufacturing (DML), subsidiary of the company by way of purchase of 6,15,567 equity shares from the existing shareholder Eisenwerk Erla GmbH (EEL), subsidiary of the Company, consequent to which the increase of the direct shareholding of the Company in DML will enhance from 33.03% to 57.65%. The balance shareholding of 42.35% is held through JKM Erla Automotive (JEAL) being a wholly owned subsidiary of the Company. The aforesaid investment is being made with an intent to have a lean organizational structure by acquiring shares from the existing shareholder of DML, being the Company's foreign subsidiary. The consideration would be in cash and paid through banking channels.

RateGain Travel Technologies has launched Airline Travelers Forecast, a new module of Demand-AI, RateGain’s AIpowered Demand Forecasting Solution for travel and hospitality industry. With Airline Travelers Forecast, marketing leaders and commercial organizations in hotels can optimize their ad spends across both offline and online channels to drive higher returns in a tough macro environment where the industry is dealing with high input costs and looking to reduce their marketing spends.

Torrent Power has reported results for first quarter ended June 30, 2022. The company has reported 2-fold jump in its net profit at Rs 480.77 crore for the quarter under review as compared to Rs 199.01 crore for the same quarter in the previous year. Total income of the company increased by 55.91% at Rs 4760.84 crore for Q1FY23 as compared Rs 3053.63 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported 2-fold jump in its net profit at Rs 502.01 crore for the quarter under review as compared to Rs 207.78 crore for the same quarter in the previous year. Total income of the company reported 2-fold jump at Rs 6618.62 crore for Q1FY23 as compared Rs 3135.23 crore for the corresponding quarter previous year.

Dilip Buildcon through Dilip Buildcon -Skyway Infraprojects, DBL-SIPL (JV) has received the letter of acceptance (LoA) on August 08, 2022 from Madhya Pradesh Jal Nigam Maryadit, Bhopal for project of Engineering, Procurement, Construction, Testing, Commissioning, Trial Run and Operation & Maintenance of Various Components of Gandhisagar-2 Multi-Village Scheme, Districts Mandsaur and Neemuch in Single Package on ‘Turn-Key Job Basis’ including Trial Run and Operation & Maintenance of the Entire Water Supply Scheme for 10 Years in the state of Madhya Pradesh. The project cost is Rs 1400.04 crore. The completion period of the project is 28 months