TCS, Infosys, Paytm, Adani Ports, and Others

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The Indian equity benchmarks made a smart recovery in a volatile session on March 22, rising 1 per cent on gains in auto, bank, IT and oil & gas stocks. At close, the Sensex was up 696.81 points, or 1.22 per cent, at 57,989.30, and the Nifty was up 197.90 points, or 1.16 per cent, at 17,315.50. After a negative start, the benchmark indices remained under pressure in the first half but recovered in the second half to end near the day’s high. Among sectors, Nifty auto, bank, energy and IT indices added 1-2 per cent, while FMCG index shed 0.7 per cent.

Tata Motors

Tata Motors’ share price gained nearly 3 per cent on March 22 after the vehicle maker announced a hike in the price of its commercial vehicles from April 1. “An increase in price in the range of 2-2.5 per cent will come into effect from 1st April 2022 across the range, depending upon individual model and variant,” India’s largest commercial vehicle manufacturer said in an exchange filing on March 22.

Paytm

The Bombay Stock Exchange (BSE) on March 22 said it has sought a clarification from One 97 Communications Ltd, the parent firm of payments solution company Paytm, over the sharp fall in its share prices. “Exchange has sought clarification from One 97 Communications Ltd on March 22, 2022 with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded,” BSE said, adding that “the reply is awaited”.

Adani Power

Adani Power Limited (APL) has entered into a pact with Japanese companies—IHI Corporation and Kowa Company Ltd. (Kowa)—to collaborate on environmentally sustainable power generation, the billionaire Gautam Adani-led company said on March 22. The companies will study the feasibility of ammonia co-fired units that would help decarbonise Adani Power’s coal-fired units. The company aims to achieve modification target of 20 per cent liquid ammonia in co-firing and aim to increase this to a ratio up to 100 per cent mono-firing at the Adani Power Mundra Coal Fired Power Plant.

Bhansali Engineering Polymers

The company has received consent, from the MP Pollution Control Board, for expansion of high rubber graft – HRG (rubber rich acrylonitrile butadiene styrene) from 15000 TPA to 50000 TPA for Satnoor plant at Chhindwara in Madhya Pradesh.

Adani Ports and Special Economic Zone

Its cargo volumes accelerated to 300 million metric tonnes. The largest transport utility is on course to achieve 500 MMT by 2025.

Kirloskar Pneumatic Company

The company has converted about 5.58 lakh square metres Government Grant land at Eklahare, Nashik Road, Maharashtra, to Freehold Land at a cost of approximately Rs 58 crore as per the order of Nashik Collector, to meet its future growth requirements.

Brigade Enterprises

The south-based real estate company has entered into the plotted development space with a 66-acre residential project in Devanahalli, Bangalore. The project is a strategic joint development that will offer plot sizes ranging from 1,200 square feet to 2,400 square feet.

RailTel Corporation of India

The company has received work order from Rail Vikas Nigam (RVNL) for installation of RailTel’s MPLS-VPN services for 5 years. The work order is worth Rs 11.57 crore.

Infosys

The country’s second-largest IT services company will acquire oddity, Germany-based digital marketing, experience, and commerce agency. Oddity will become part of WONGDOODY, an Infosys company, and join its network of studios across Seattle, Los Angeles, New York, Providence, Houston, and London, and design hubs in five cities in India.

Tata Consultancy Services

The buyback issue of the company will close on March 23. It was opened on March 9. The company had planned to buy back up to 4 crore equity shares from eligible shareholders.

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