News Wrap: Ambuja Cement Earnings, Investment; Indigo Co-Founder Steps Down From Board; Ukraine Parliament Passes Crypto Bill & More…
February 18, 2022:
The 30-Scrip BSE Sensex ended 59.04 points or 0.10% lower at 57,832.97.
The NSE Nifty plunged 28.30 or 0.16% to close at 17,276.30.
All the sectoral indices ended in the red, except for Bank, Financial services & Private Bank.
Nifty Bank and Oil & gas indices fell more than 1%.
BSE Smallcap and Midcap indices fell 0.80% each.
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Earnings In Focus:
Ambuja Cements Profit Plunges To Rs 430.97 Cr In Q4
Consolidated net profit in Q4FY22: Rs 430.97 crore
Net profit in Q4FY21: Rs 968.24 crore
Revenue from operations in Q4FY22: Rs 7,625.28 crore
Revenue from operations in Q4FY21: Rs 7,452.87 crore
Total expenses in Q4FY22: Rs 6,865.61 crore
Total expenses in Q4FY21: Rs 6,434.43 crore
Ambuja Cements To Invest Rs3.5 K In Expansion Of Its Cement Grinding Capacity
Ambuja Cements will invest ₹3,500 crore for upscaling of its cement grinding capacity.
At present, the company has a cement production capacity of 31 million tonnes per annum (mtpa) annually, with six integrated cement manufacturing plants and eight cement grinding units across India.
"The board has approved in principle an investment of Rs 3,500 crore for a cement grinding expansion plan of potential 7.0 million tonnes across our existing grinding units at Sankrail and Farakka and a greenfield (fresh) location at Barh, in Bihar," Neeraj Akhoury, CEO of Holcim India and MD & CEO of Ambuja Cements, said in an earnings statement.
A 3.2 mtpa brownfield clinker expansion at the company's current integrated facility in Bhatapara, Chhattisgarh, would help to support this.
More To Know:
Wipro has appointed Jasjit Singh Kang as Head of digital operations and platforms of iCORE (Integrated Cloud Infrastructure, Digital Operations, Risk and Enterprise Cyber Security Services) unit.
Lupin has got a nod from USFDA for supplemental new drug application for SOLOSEC (secnidazole) for treating trichomoniasis in adolescents and bacterial vaginosis in females of age 12 and above.
Birla Corporation has raised Rs 150 crore via allotment of 1,500 non-convertible debentures of Rs 10 lakh each, on a private placement basis.
IndiGo co-founder Rakesh Gangwal has stepped down from the board, along with reducing stake in the airline over the next five years.
Trai data shows Reliance Jio lost about 1.29 crore, wireless subscribers, in December 2021, having subscribers 41.57 crore. Vodafone Idea lost 16.14 lakh, mobile subscribers, bringing its subscriber base to 26.55 crore in December 2021. In contrast, Airtel attracted 4.75 lakh customers, boosting its wireless user base to 35.57 crore.
Indian Oil Corporation (IOC) has raised debt worth Rs 1,500 crore through a bonds issue.
Schaeffler India will invest Rs 1,000 crore in the next 3 years, according to Harsha Kadam, MD and CEO.
Indian IT companies are estimated to employ 3.6 lakh freshers in the services industry during FY 21-22, as per market intelligence firm Unearthinsight.
Nepal becomes the first country to adopt India's UPI as a payment platform.
Ukraine Parliament - Verkhovna Rada- passes bill to LEGALIZE cryptocurrencies & crypto exchanges. However, the Bill does not make Bitcoin a Legal Tender.