Mahindra & Mahindra: Stepping up its investment in electric vehicles, Mahindra & Mahindra on Wednesday announced the setting up of a new facility to make battery packs to power e-vehicles. Once completed, the plant at Chakan in Pune will help boost the company’s production of battery packs ten times from now.
Bharti AirtelBSE 0.08 %, Idea Cellular : The regulator rejected the telecom department’s call to reconsider its recommendation of fines worth Rs 3,050 crore on Bharti Airtel, Vodafone India and Idea CellularBSE 0.13 % for not providing adequate points of interconnect (PoIs) to Reliance Jio while stressing that it has the powers to suggest penal action on erring telcos in view of the larger public interest.
Earnings today: ArchiesBSE -0.53 %, Ashok LeylandBSE -0.12 %, Bajaj Hindusthan Sugar, Bosch, Butterfly Gandhimathi Appliances, CiplaBSE -0.89 %, Concor, GSPL, Indian Oil CorporationBSE 0.26 %, NMDCBSE 0.09 %, Timex, Va Tech WabagBSE 1.10 % and VST TillersBSE 2.89 % will announce their financial results for the quarter ended March 31, 2017 on Thursday.
Bharat Financial: Global brokerage house Credit Suisse upgraded Bharat Financial to ‘Outperform’ from ‘Neutral’ and also raised the target price to Rs 800 from Rs 760.
Adani Enterprises: The flagship firm of Adani Group on Wednesday posted a 60 per cent jump in its consolidated net profit to Rs 221 crore for the fourth quarter ended March on the back of higher contribution from coal trading.
Johnson Controls-Hitachi Air Conditioning: The company will develop and manufacture air-conditioners in India for sale in markets in the Middle East and South East Asia, expecting operations in the country to become one of its top three, global CEO Franz Cerwinka said.
Garware-Wall Ropes: Technical textiles manufacturer Garware-Wall Ropes (GWRL) reported 13.6 per cent growth in net profit after tax (PAT) at Rs 19.64 crore in the fourth of 2016-17. The company’s PAT stood at Rs 17.28 crore in the corresponding period of FY16.
GVK Power: The company’s standalone net loss widened to Rs 205.85 crore in the fourth quarter ended March 31, 2017. GVK Power’s net loss in the year-ago quarter was at Rs 105.59 crore.