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Bharti Airtel: Bharti Airtel has increased its entry-level rate plans from ₹99 to ₹155 in seven new circles: Karnataka, Bihar, North East, Himachal Pradesh, Andhra Pradesh, Rajasthan, and Uttar Pradesh West. It is currently charging the bare minimum in nine of the total 22 circles.
Tata Motors: The Tata group firm is likely to declare consolidated profit in the three months ended December for the first time in seven quarters, supported by strong domestic sales, lower raw material costs, and improved business prospects of subsidiary Jaguar Land Rover.
TVS Motor: Aims to treble its electric two-wheeler sales by March and introduce a variety of additional models ranging from 5kWh to 25kWh to grow its iQube line over the following 12-18 months. The company’s financial performance in the December quarter was better than predicted, with a 22.5% increase in net profit to ₹352.75. Revenue increased by approximately 15% to ₹6,545.42 crore.
Jet Airways: According to media reports, Jet Airways’ lenders have filed an appeal with the appellate bankruptcy court, seeking a stay on an order of the National Company Law Tribunal (NCLT) that allowed the transfer of the airline’s ownership to the Jalan-Kalrock Consortium, which had won the bid for the bankrupt company.
Reliance Capital: Reliance Capital’s secured lenders have petitioned the National Company Law Appellate Tribunal to overturn a bankruptcy court judgement that kept the company’s insolvency procedures in place.
Embassy Office REIT: Blackstone Inc is in negotiations with private equity firm Bain Capital to sell around half of its ownership in the real estate investment trust for up to $480 million at current pricing.
Coffee Day Enterprises: The Securities and Exchange Board of India has fined Coffee Day Enterprises, which operates Cafe Coffee Day, ₹26 crore for alleged diversion of money from subsidiaries to an entity associated to the founders. A thorough investigation revealed that monies totaling ₹3,535 crore were misappropriated.
Barbeque-Nation Hospitality: Anurag Mittal, chief financial officer of Barbeque-Nation Hospitality, has resigned from the firm. His resignation will take effect on February 7th.
Nazara Technologies: The gaming and sports media platform recorded a 76% year-on-year increase in consolidated profit for the quarter ended December at ₹18.1 crore. Revenue from operations increased by 69.4% year on year to ₹315 crore. Operating profit grew by 3.4% year on year to ₹30.1 crore.
Macrotech Developers: The real estate developer reported a 41.7% year-on-year increase in consolidated profit to ₹404.5 crore, aided by higher other revenue and lower tax expenses. Revenue declined 14% year on year to ₹1,774 crore, but pre-sales increased 16% year on year to ₹3,035 crore.
