Tata Steel

Tata Steel has signed an agreement with Ford to supply
“zeremis green steel” from its Netherlands-based IJmuiden plant after
the unit shifts to hydrogen-based steel making. The agreement makes Ford the
first customer committed to buying the green steel that Tata Steel plans to
produce through the hydrogen route, which is more sustainable and cleaner than
the current steel-making method.

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Gland Pharma Limited

The company reported a 20.14% decline in consolidated net
profit at Rs 241.24 crore for the second quarter that ended September 30, on
lower sales and higher expenses. The consolidated revenue from operations
during the reported quarter was at Rs 1,044.4 crore, as against Rs 1,080.47
crore in the year-ago period. Total expenses came in higher at Rs 785.95 crore,
as against Rs 731 crore in the same period a year ago.

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Hero MotoCorp

The two-wheeler maker announced its plans to enter the
Philippines for which it has partnered with Terrafirma Motors Corporation for
the assembly and distribution of its vehicles. A subsidiary of Columbian Group
of Companies will be the exclusive assembler and distributor of Hero MotoCorp
motorcycles in the Philippines, the company said.

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Glenmark Pharmaceuticals

The company said US Food and Drug Administration has put
its manufacturing plant at Baddi under import alert. The drugs produced at the
Baddi plant can now be detained without physical examination. The USFDA
inspected the facility in June 2022 and subsequently placed it under
“Official Action Indicated” status.

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IIFL Finance

The non-banking finance company (NBFC) reported a 35% rise
in its consolidated net profit at Rs 397 crore in the September quarter,
compared with Rs 292 crore in the year-ago period. The total income during the
July-September period of 2022-23 increased to Rs 2,051.44 crore as against Rs
1,713.37 crore in the corresponding quarter. 

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Dabur India

The Indian FMCG major reported a 2.85% decline in its
consolidated net profit to Rs 490.86 crore for the September quarter, compared
to Rs 505.31 crore in the corresponding quarter of the previous fiscal year.
Revenue from operations increased 6% to Rs 2,986.49 crore during the reported
quarter as against Rs 2,817.58 crore in the year-ago period.

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Chennai Petroleum Corporation

The company reported a 99% sequential decline in standalone
profit at Rs 27.88 crore for the quarter that ended September for the financial
year 2022-23, impacted by a windfall tax on exports. Revenue decreased nearly
17% quarter-on-quarter to Rs 22,894 crore for the quarter. The government on
July 1 imposed duties on the export of petroleum products at the rates notified
on fortnightly basis, which has been reduced in the refinery transfer pricing.
This has resulted in decreased revenue and profitability for the quarter the
company said in a BSE filing.

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Power Finance Corporation

HDFC Mutual Fund through its various schemes sold a 2.07%
stake in the company via open market transactions on October 21. With this
development, its stake in PFC decreased to 6.94%, down from 9.01%.

Route Mobile

The company board of directors has approved providing a
corporate guarantee in favour of Standard Chartered Bank for a term loan
facility proposed to be taken by subsidiary Route Mobile (UK) of up to $ 15
million. The corporate guarantee will be considered a contingent liability for
the company.

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Trident said it has completed a solar power project of 8.87
MWp in Budhni, Madhya Pradesh. With this development, it has commissioned both
phases – Phase 1 of 5.48 MWp and Phase 2 of 3.39 MWp solar power plants, for
captive use. The company aims to use renewable and clean energy for reducing
carbon emissions, it said.