Stocks in News
Telegram @AlliesFin
Tata Steel: Tata Steel India achieved highest-ever annual crude steel production of 19.06 million tons, with a growth of 13 percent YoY despite the COVID 2nd wave related disruption early in the financial year. Tata Steel India deliveries increased by 6 percent YoY in FY22, surpassing the previous best recorded in FY21. Tata Steel Europe steel production in FY22 grew by 6 percent YoY and total deliveries increased by 2 percent YoY, driven by broad-based improvement in most steel consuming sectors.
Tata Steel Long Products: Its crude steel production grew by 6 percent YoY in FY22, despite the disruption caused by COVID 2nd wave and shutdown of one of the blast furnaces for few weeks during Q4FY22. Steel sales volumes have increased by 2 percent YoY in FY22, with a higher share of rolled product sales enabled by customer approval and continued mix enrichment.
Rain Industries: Due to a lower allocation of raw petroleum coke (RPC) by Directorate General of Foreign Trade (DGFT) for FY23 than in the previous years, the lack of sufficient raw materials has now reached a level necessitating that subsidiary RAIN shuts down one Kiln, until further notice. Subsidiary Rain CM Carbon (Vizag) (RAIN) is facing RPC shortfall to the tune of 40 percent. Apart from calcined petroleum coke (CPC), the shutdown of RAIN's Kiln will also result into net loss of 20 MW of waste-heat power generation to the grid. RAIN has two Kilns for manufacture of CPC at Visakhapatnam, Andhra Pradesh.
Tata Power Company: Resurgent Power Ventures, co-sponsored by Tata Power and ICICI Bank and has other global reputed investors, has completed acquisition of NRSS XXXVI Transmission, a special purpose vehicle to establish and operate transmission system in Northern Region along with LILO of SikarNeemrana 400kV D/C line at Babaion on build-own-operate-maintain (BOOM) basis. Resurgent Power Ventures was set up to acquire stressed assets in the Indian Power Sector.
TVS Motor Company: The company and Jio-bp have agreed to explore the creation of a robust public electric vehicle (EV) charging infrastructure for electric two-wheelers and three-wheelers in the country, building on Jio-bp's growing network in this space. Under this proposed partnership, the customers of TVS electric vehicles are expected to get access to the widespread charging network of Jio-bp, which is also open to other vehicles.
Marico: The FMCG company in its BSE filing said revenue growth in Q4FY22 was in low single digits, while volumes were marginally positive on an exceptionally high base (25 percent), leading to a double-digit volume growth on a 2-year CAGR basis. Parachute Coconut Oil volumes were marginally lower year-on-year, mainly due to a daunting base (29 percent). Value Added Hair Oils grew in low single digits in value terms. The International business delivered double-digit constant currency growth on a strong base, with all markets faring well. Consolidated revenue growth in the quarter touched high-single digits.
Tata Consultancy Services: Kansas Department of Labour (KDOL) has selected TCS to build a modern, secure, web-based system for the state's unemployment insurance program. This will help transforming a legacy mainframe platform from the 1970s into a cloud-based system that dramatically improves the delivery of services to Kansas residents.
By: via @AlliesFin Serve Stock Market
