BHEL, HDFC Bank and B. L. Kashyap to see some action today

Nuclear Power Corporation of India (NPCIL) and Bharat Heavy Electricals (BHEL) have entered into an memorandum of understanding (MoU) to jointly pursue business opportunities in the area of Nuclear Power Plants based on Pressurized Heavy Water Reactor (PHWR) technology. Under the MoU, BHEL and NPCIL will jointly explore opportunities for development of Nuclear Power Projects with a view to reduce project gestation time.

HDFC Bank has signed a Master Inter Bank Credit Agreement with Export Import Bank of Korea for a $300 million line of credit. This agreement will help HDFC Bank raise foreign currency funds which it would extend to Korea-related businesses. This line of credit would be utilised by HDFC Bank towards funding requirements of companies having equity participation by Korean companies as well as companies having business relationship with Korean companies.

B. L. Kashyap and Sons (BLK) has secured new order aggregating to around Rs 141 crore from National High Speed Rail Corporation for Construction of Training Institute Buildings at Vadodara. The project is to be executed in 24 months. The total order book as on date stands at around Rs 2522 crore, excluding GST.

Canara Bank in partnership with NPCI Bharat BillPay (NBBL) has launched cross-border inward bill payment services for Indians based in Oman. NRIs can now leverage the robust platform offered by the Bharat Bill Payment System (BBPS) to make bill payments on behalf of their families through the Musandam Exchange.

DC Infotech and Communication has tied up with Array Networks, to offer their entire range of products to customers in India. This agreement strengthens the company's networking solutions portfolio and expands its geographical footprint in the overseas markets. Association with such niche brands testifies the confidence that global brands have in DC to as their partner of choice.

Tata Consultancy Services (TCS) has reported results for fourth quarter ended March 31, 2023 (Q4FY23). Tata Consultancy Services has reported marginal rise of 0.05% in its net profit at Rs 9,800 crore for the quarter under review as compared to Rs 9,795 crore for the same quarter in the previous year. Total income of the company increased by 15.24% at Rs 51,213 crore for Q4FY23 as compared Rs 44,440 crore for the corresponding quarter previous year. On consolidated basis, the company has reported rise of 14.83% in its net profit at Rs 11,436 crore for fourth quarter ended March 31, 2023 as compared to Rs 9,959 crore for the same quarter in the previous year. Total income of the company increased by 17% at Rs 60,337 crore for Q4FY23 as compared Rs 51,572 crore for the corresponding quarter previous year.

RITES has received a work order for the PMC work from Kerala Infrastructure Investment Fund Board (KIIFB) for their projects at an estimated fee of Rs 72 crore. Earlier in March 2023, the company had secured order with JV partner, for a Project Management Consultancy work under Assam Health System Strengthening Project.