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Domestic smartphone maker Lava is planning to expand its 5G portfolio and launch two more 5G smartphones this year. The brand is closely coordinating with telecom operators also to ensure our devices deliver the right 5G network experience to consumers. We are planning to grow our market share 5X this year in low end smartphones. We have reach of 120k outlets and partnering with online platforms to ensure the right distribution of products. We will bring innovative products even in this segment powered by the Design Team. Indian Government’s PLI scheme for Indian brands will power this growth in low end smartphones,” Tejinder Singh, Product Head at Lava International said. The company currently has a production capacity of 50 million devices annually, of which 70% is consumed locally and the rest 30% is exported. The brand admits a challenge in the supply chain of smartphones, which will continue this year but will ease in the second half of year. The company earlier launched Lava Agni 5G which was powered by 6 nm MediaTek 810 chipset. According to the firm, the initial roll out of the 5G in the country will be limited to cities and with time the technology will be further relevant for areas like smart agriculture, telemedicine. Meanwhile, Lava International recently acquired Latin American handset brand China Bird CentroAmerica S.A to expand its presence in the Latin American market
Hexaware Technologies is setting up smaller centres with limited capacities across the smaller markets, challenging the traditional practices in the existing IT sector format, where companies set up mammoth campuses to host thousands of employees. In an interview with Hindu Business Line (HBL), R Srikrishna, CEO of Hexaware Technologies said that this is going to be a big shift in the company's strategy. During the pandemic period, the company hired the talent from smaller markets, with no centre or offices in those regions. The company roped in talent from Sub Africa, Lebanon, Turkey and Portugal. The company intends to add another 10,000 employees to its existing 25,000 workforce. Remote working and small centers are the future of the BPO industry. Srikrishna said that talent can be found even in smaller markets and the company can hire, say 50-100 people as opposed to the industry thinking of setting large campuses and hiring thousands of employees. "Due to this policy, we have marked our hiring presence at multiple new centers." Is the small new big? The compnay has three-fourth of headcount in India and is in the process to open up another center in Bhopal, Madhya Pradesh. This office would have a capacity of 1,000 employees. The company's attrition rate is moving northwards, in the range of 17-22 per cent, but the numbers have began to stablize lately. In the first quarter of 2022, Hexaware has hired 900 people from various colleges. The company was delisted from the bourses in the later end of 2020, after it was acquired by The Carlyle Group. The company has recently opened its second center in the Philippines. The company recently rejigged its boards, announcing new members added. It has inducted half a dozen Carlyle representatives from across the regions. It has introduced Michael W Bender, Non-Executive Chairman and Senior Partner Emeritus of McKinsey & Company as the new Non-Executive Chairman on the board. Joseph McLaren Quinlan, former CIO of Deloitte has joined the board.
<div class="page" title="Page 1"> <div class="section"> <div class="layoutArea"> <div class="column"> <strong>B91 is focussing on Premium Beer to Beat Inflation</strong> India’s fastest growing craft beer maker Bira is planning to increase the sale of its premium beer to beat the inflation. We all know due to supply chain issues around the world, the inflation is very high. In India, we have seen the WPI is at 13% and CPI a 7%. This has affected the whole sectors in the economy. <strong>Raw materials used in Beer?</strong> The main raw material used for making and packaging of beer is Wheat or Barley, Glass, and Aluminium. And, the prices of these commodities are soaring in the market. As per Motilal Oswal Report, Barley prices have been surged by 65% in the last one year and 5% quarter on quarter in the month of March. The barley prices are affected due to Russia and Ukraine war, as Ukraine exports world 18% barley. As per Jain, the founder of Bira Beer, the current environment is extremely tough as cost has risen by 30-70%. <strong>How bira is planning to tackle this?</strong> We all know, Bira beer has a double digit market share in the premium beers. In fact, when Bira was started in the year 2015 at that time they were selling only premium beers. However, they have slowly started manufacturing other beers to target smaller tier-2, tier-3 and tier-4 cities. Now, to beat inflation and pass on the cost to the consumers, they are focusing on selling premium beers. As wealthy people who consumes premium beers are not price sensitive. <strong>How many beers bira produces every month?</strong> As per Jain, B9 Beverages has also ramped up its capacity to 22 lakh cases a month (a case has 12 bottles), up from 6 lakh pre-Covid, with consumers returning to bars and liquor shops remaining functional. So, bira is producing ~2.64 Crores bottles a month. <strong>Market size of Beer Industry</strong> India’s beer industry, according to Expert Market Research estimates, was worth nearly Rs 37,100 crore in 2020, and is likely to reach Rs 66,200 crore by 2026 at an estimated annualised growth rate of about 9.2%. So, very good growth opportunities are available in the beer market for the company. <strong>Valuation of Bira Beer</strong> Currently, the Bira Beer Unlisted Share is available in the unlisted market at Rs.850 per share and with ~6 Crores shares outstanding, the Mcap or Valuation is ~5000 Crores. In FY22, they clocked a revenue of ~800 Crores, so Mcap/Sales = 6.25x. </div> </div> </div> </div> <div class="page" title="Page 2"></div>
<p>Leading brokerage firm HDFC Securities has announced its results for the period ending March 31, 2022 on April 13. <br /><br />The company was able to clock a total income from operation of Rs 505.61 crore, an increase of 21 per cent compared to Rs 417.7 crore in the same period previous year. However, the company reported a marginal drop of 4 per cent in the profit after tax to Rs 235.62 crore in Q4FY22 from Rs 244.53 crore in Q4FY21. However, the operation profit (EBIT) remained almost flat to Rs 316.2 crore in the quarter ended on March 31, 2022. On a sequential basis, the company reported a decline of 9 per cent in the net profit from 258.03, whereas the total revenue plunged 5 per cent from Rs 532.61 crore. Operational profit in the December 2021 quarter stood at Rs 347.09 crore. <br /><br />HDFC Securities is the broking arm of HDFC Bank, which is the largest private lender of the company. The company is entitled with a strong parentage of HDFC group, which is the largest and most premium financial services group in the country. HDFC group is among the largest conglomerates of India. For the financial year 2021-22, the brokerage firm reported a 40 per cent rise in the net profit to Rs 984.34 crore from Rs 703.23 crore. <br /><br />Revenue from the operation jumped 44 per cent to Rs 1,975.57 crore from Rs 1,368.16 crore during the period under review. For the entire financial year 2021-22, HDFC Securities announced an interim dividend aggregating to Rs 547 per equity share in four tranches, with a total sum payable as dividend aggregating to Rs 864.62 crore. <br /><br />During the period, the Company had issued commercial papers of Rs 16,650.00 crore and redeemed commercial papers of Rs 14,250.00 crore. The COVID -19 pandemic continues to have a considerable impact on economic activities across the various parts of the country and across the globe, the company said in its statement. <br /><br />"The Government of India and various state governments have introduced a series of initiatives over the past year including lockdowns in order to contain the impact of the virus," it added. <br /><br />Stock broking and depository services have been declared as essential services all through the year and accordingly, the Company has faced nobusiness stoppage/interruption on account of the lockdown, said Dheeraj Relli, Managing Director of HDFC Securities. <br /><br />HDFC Securities has completed more than two decades in the industry and brags an extensive network of branches across all major cities and towns in the nation. Mumbai headquartered HDFC Securities is a corporate member of both the BSE and the NSE. HDFC securities is well known with professional traders for its comprehensive online trading portal offerings. <br /><br />As of March 31, 2021, the broking firm had about 300 branches in more than 160 cities in the country. It also has multiple digital platforms to enable its customers to have easy access to its products.</p>
<div class="gmail_default"> Dalmila OCL recenlty announced to demerge its entire refractory business under one single roof named Dalmia Bharat Refractories Ltd (DBRL). The new entity is expecting a 20-25 per cent growth in the business in the fiscal year 2022-23. THe company is bullish on the positive sentiment which is backed by a steady demand from Indian steel and cement sectors. The company is also aiming to rope in more global customers, who might be looking for an alternative to China. According to a report from Hindu Business Line, Sameer Nagpal, MD and CEO of DBRL has grown around 20-25 per cent in the pre-pandemic years and is likely to close FY23 with a turnover close to Rs 1,200 crore. The company management is hopeful of doubling the revenue by 2025. The refractory industry is still going through uncertainty and turbulence. The circumstance in China continues to remain volatile and the rise in ocean freight is a big challenge for the industry. Even in Europe, the spike in energy cost is playing out and reduction in steel production is hurting the markets. However, the company finds a comfort seat in India, which is likely to be the growth driver for the production of steel and cement. </div> <div class="gmail_default"> Nagpal said that the company is already above 20-25 per cent above the pre-pandemic levels and expects similar growth in FY23.Refractory products are vital in all high-temperature processes in the making of metals, cement, glass and ceramics. The steel industry is one of the biggest consumers of these products, accounting for up to two thirds of the total production. However, the domestic refractory industry is highly dependent on China for raw materials such as magnesite and bauxite. DBRL has diversified its source base and has created a stock of raw material to meet the growing demand. Nagpal said that the company would be able to build on the two mega trends, which includes the growth in Indian market and rejigging of the supply chain away from China. Consolidation of Company Dalmia Bharat Group recently announced to demerge all of its domestic refractory business into a single consolidated entity and named it Dalmia Bharat Refractory Limited. Post consolidation, the three entities namely - Refractory unit of Dalmia Cement Bharat, GSB India and Dalmia Bharat Refractories - will be transitioned into DBRL. The company plans to list itself on BSE during the financial year starting on April 1, 2022. It is also exploring inorganic growth possibilities in Europe which has a large steel producing capacity. After the merger process, DBRL will be able to accelerate capex, allocate larger resources to Research and Development (R&D) and quicken its digital transformation to serve its growing customer base. The consolidation is aimed at strengthening DBRL’s financial standing, increasing its investment capabilities, expanding its talent base, and positioning the new entity as a trustworthy and long-term partner for its customers in steel, cement and other industries having high temperature processes. </div>
<p><strong>1.</strong> Vedanta Limited has announced today that it has signed a Power Delivery Agreement (PDA) with affiliates of Sterlite Power Technologies Pvt Ltd. <br /><br /><strong>2.</strong> Vedanta aims to partially replace existing captive thermal power capacities with Renewable Energy for smelting and associated operations, and meeting power requirements of capacity expansion at Vedanta Aluminium Limited‐ Jharsuguda, Balco and Hindustan Zinc. <br /><br /><strong>3.</strong> The overall arrangement is to procure 580 MW of renewable power where SPTPL and its affiliates are setting up a 1960 MW hybrid‐based renewable energy capacity to achieve this generation in a combination of Solar, Wind and Storage solutions <br /><br /><strong>4.</strong> The Sterlite Power is expected to start delivering the power within 24 months of the PDA signing. <br /><br /><strong>5.</strong> The project will be funded on 70:30 debt to Equity basis. <br /><br /><strong>About Sterlite Power</strong> <br /><br /><strong>1.</strong> Sterlite Power is an end‐to‐end energy solutions company enabling large‐ scale heavy energy intensive industries and sector to accelerate their clean energy transition. The company is focused on industrial decarbonisation solutions by providing assured renewable energy (RE) through a combination of solar, wind, energy storage and balancing solutions to the Commercial & Industrial segment. It is led by senior professionals who have executed over 3000 MW of RE projects globally. <br /><br /><strong>2</strong>. Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with a robust portfolio of 27 projects across India and Brazil with a total capex of ~Rs.36,000 Crores. <br /><br /><strong>3.</strong> SPTL provides bespoke and integrated power solutions for the upgrade, uprate and fiberization of existing transmission infrastructure projects. It also has a portfolio of high‐performance power conductors, extra high voltage (EHV) cables and optical ground wires(OPGW). Advancing the carriage towards a green energy efficient future, SPTL has an increasing focus on integrating renewable energy into the grid. This is a positive news for Sterlite Power that it has won a 580 MW energy project under his kitty. Though the project is from same group.</p>
<div class="gmail_default">The governing council of Indian Premier League (IPL) will soon take the final call on the sale of media rights. The broadcasting and digital streaming rights of the largest T-20 cricket league in the world will be auctioned soon for the third time in 15 years. <br /><br />The Board of Cricket Control in India (BCCI) is all set with the invitation to tender (ITT) for the 2023-27 cycle and the process of e-tender is likely to kick off in the upcoming week. To ensure transparency in the process, BCCI has opted to go ahead with e-auction. The entire process is overseen by Jay Shah, who serves as the secretary of the board, and is positive that IPL is the hottest sports property in the country and continues to attract domestic and global players in India. <br /><br />Market participants believe that media rights may fetch Rs 45,000 crore mark in the latest round of auction, which were sold for Rs 16,247 crore for the 2018-22 cycle. Interestingly, for the first 10 years (2008-17), the media rights were sold only for Rs 8,200 crore. In an interview to Times of India (TOI), Jay Shah said that the board is keen on maintaining transparency in the entire process, which is feasible via e-auction. Also, it wants the true valuations justified for the brands like IPL. The latest auction of two new teams- Lucknow and Ahmedabad- have boosted the morale of the board which fetched robust valuations lately. <br /><br />The popularity and confidence of investors lifted high after the recent franchise sale. "We are very clear that the process we shortlist should fetch the league the right value it deserves, though the processes should remain transparent throughout. E-auction will provide all bidders an equal and fair platform to stake their claim," said Shah. <br /><br />The latest round of auction will include new and innovative features, exploring the bidding package for digital streaming as well. BCCI is planning to conduct the entire process via intranet, instead of internet. Shah says that the numbers from the auction will benefit Indian cricket eventually. <br /><br />Digital streaming and OTT players are going aggressive after the pandemic to compete with the television broadcasting and explore the digital space. There are multiple players lined up to host the upcoming season of the IPL on their platform for the digital subscribers. Amid the pandemic years, when there was no crowd allowed in the stands, IPL viewership on the digital platforms sky-rocketted and is likely to increase over in the near future. <br /><br />In 2008, digital rights were an elephant in the room, attracting only 5 per cent of the overall value, whereas within a decade, Facebook's Rs 3,900 crore bid addressed the online space as a heavyweight. Its share increased 25 per cent of the overall value. However, by the end of 2022, when the second half of IPL was completed, the new technology captured the market shares to little less than 50 per cent. Changing the game now, the digital technology is now expected to attract bids in the range of Rs 18,000-22,000 crore, which is about half of the overall value. <br /><br />To ease up the process of valuation mathematics, BCCI has hired the professional consultancy firm KPMG to support the bidding process. The next seasons of IPL are likely to fetch more ratings because the number of games will be increased to 94 from existing 60 games a season after the addition of two new teams. The IPL governing council shares the amount from the media rights with franchises and thus, the high valuations for broadcasting leads to higher shares for the franchises. This will not only boost the topline for the teams like Chennai Super Kings, but the more number matches leads to higher advertisers display in the cricket league. <br /><br />The new auction of media rights will set the benchmark for the valuations of the Indian Premier League as a whole and uplift the brand value of franchises. The new teams fetched the valuations of about Rs 7,000 crore, whereas the profit making existing franchises are likely to become unicorns soon.</div>
Arohan Financial Services Limited (Arohan) is scheduled to hold its extraordinary general meeting (EGM) on Monday, March 28, 2022. The meeting will kick off at 15.00 hours Indian Standard Time (IST) through video conference or other audio-visual means. The company is likely to consider and pass the special resolution to issue compulsory convertible debentures (CCDS) on a private placement basis aggregating to Rs 175 crore at the interest rate of 15 per cent per annum. Subscribers include Ivy Icon Solutions LLP, which will opt for 150 CCDs whereas Kiran Vyapar Limited will subscribe for 25 CCDs. Face value of CCD is Rs 1 crore each. The notice for EGM also states that the CCDs shall be converted into equity shares of face value of Rs 10 each with the period of 21 months from the date of allotment at a price which would be determined in future.The CCDs by themselves do not give any right of voting in the company. The company will also issue compulsory convertible preference shares (CCPS) on a preferential allotment or private placement basis aggregating to Rs 175 crore at an issue price of Rs 83.76 each. It includes issuance of 1,79,08,310 CCPS to Ivy Icon Solutions LLP worth Rs 150 crore. Kiran Vyapar Limited will vouch for 29,84,718 CCPS worth Rs 25 crore at the same price. The CCPS shall be converted into Equity Shares of face value of Rs 10 each at a conversion price which will be determined as per the Term Sheet tabled before the board and as will be more particularly provided for in the transaction documents which shall be executed in relation to the issue. The company will also reclassify its authorised shares capital and subsequent amendment in the memorandum of association of the company. The authorised share capital of the company is Rs 160 crore, which is divided into 16 crore equity shares with a face value of Rs 10 each.
Fincare Small Finance Bank (SFB) has deferred its listing plans as the company has postponed the launch of initial public offering (IPO) citing external factors. The small private lender has taken a hit following the covid-19 pandemic and the uncertainty in the global markets due to the conflict between Russia and Ukraine. The company has deferred its plans to July-August. In an interview with Moneycontrol, Rajeev Yadav, managing director and CEO of Fincare Small Finance Bank said that the lender will be eyeing to go public in the first possible opportunity in the next fiscal year. "We have all the regulatory approvals but the timing is largely driven by COVID and its impact on the bank and, therefore, this needs to settle down before we can go public. Obviously, global issues are also a factor at this point of time, but I am hoping that this impact will not last long. Since we have worked through the process of an IPO, we are just making sure that an appropriate window arrives for us to go public," Yadav said. Fincare SFB had filed its draft red herring prospectus (DRHP) with the capital markets regulator Securities Exchange Board of India (SEBI) to raise funds via primary issue. The company intended to raise Rs 1,330 crore through the initial stake sale, consisting of issuance of a fresh issue of Rs 330 crore and an offer for sale by promoter Fincare Business Services aggregating to Rs 1,000 crore. According to the directives of Reserve Bank of India (RBI), all small finance banks in the private sector have to get listed on the bourses within three years of achieving a net worth of Rs 500 crore. The company had kicked off its operations in July 2015 and as on March 31, 2021 the company had a gross loan portfolio of Rs 6,072 crore and deposits aggregating to Rs 5,318 crore. Currently, Fincare Business Services holds 78.4 per cent stake in the SFB, which will come down by 10-25 per cent post listing. The lender is also exploring a reverse merger option, but the timing of the same is not clear.
<h4>API Holdings receives SEBI's nod to launch Rs 6,250 crore IPO</h4> API Holding, the parent company of PharmEasy, is all set to launch its initial public offering (IPO) as the e-pharmacy player has received the nod from the Securities and Exchange Board of India (SEBI). Amid the rising volatility in the capital markets, the watchdog has flagged a go-ahead signal to the MedTech company to raise upto Rs 6,250 crore from its primary stake sale. However, there are several reports floating in the media suggesting that the company might delay its issue following the recent meltdown in the new age internet based companies which made their debut last year. API Holdings had filed its draft red herring prospectus (DRHP) with SEBI in November 2021, joining the peers like Zomato, Paytm, Nykaa, PolicyBazaar and CarTrade. PharmEasy's IPO will consist of only fresh equity shares aggregating to Rs 6,250 crore and none of the existing shareholders looking to offload its stake. The company, in consultation with book running lead managers (BRLMs), may also consider a private placement aggregating up to Rs 1,250 crore. If such placement is completed, the fresh issue size will be reduced, DRHP said. Prior to filing the DRHP for IPO, Pharmeasy raised $350 million from investors in pre-IPO round at a valuation of $5.6 billion in October. THe company raised about $1 billion in 2021. The company will use Rs 1,929 crore of the net IPO proceeds to repay or prepay borrowings and Rs 1,259 crore to fund organic growth initiatives, whereas Rs 1,500 crore will be allocated for inorganic growth opportunities. In 2021, Mumbai headquartered API holdings acquired the listing diagnostics player Thyrocare Technologies. It focuses on end-to-end business to provide solutions for all healthcare needs. PharmEasy entered the unicorn club at a valuation of $1.5 billion in April when Prosus Ventures, TPG and others led a $350-million funding round. Its valuation had jumped to a little over $4 billion after the Thyrocare deal. The company provides consumers with digital tools and information on illness and wellness, offering teleconsultation, offering diagnostics and radiology tests, and delivering treatment protocols including products and devices. Among the key investors of API Holdings, Naspers (12.04 percent) and Temasek Holdings (10.84 percent) hold double digit stakes in the company. Other shareholders for the company indclue TPG Growth, CDPQ, Bessemer, B Capital. Amansa Capital, Blackstone-backed hedge fund ApaH Capital, US hedge fund Janus Henderson, OrbiMed, Steadview Capital, Abu Dhabi’s sovereign wealth fund ADQ, hedge fund Neuberger Berman and London’s Sanne Group participated in the latest fund raising round. According to a RedSeer Report, stated in DRHP, API Holdings is India’s largest digital healthcare platform based on gross merchant value (GMV) of products and services sold for the year ended March 31, 2021. PharmEasy has half the share in online pharmacy gross merchandise value, compared with 16 per cent for Tata-owned 1mg and 15per cent for Reliance Industries' Netmeds. In FY20, PharmEasy doubled its revenue to Rs 637 crore. For the financial year 2021, API Holdings’ total income jumped more than threefold to Rs 2,360 crore from Rs 737 crore the previous year. Its losses widened 90 per cent to Rs 641 crore. In the three months ended June 2021, it clocked income of Rs 1,207 crore with a loss of Rs 314 crore, the DRHP showed. Citigroup Global Markets India, JM Financial Ltd, Kotak Mahindra Capital, Morgan Stanley India and BoFA Securities India have been appointed as the BRLMs to the issue, whereas Link Intime India is the registrar to the issue.
<h4>Tata Tech to push headcount by another 1,000 in FY23 to support growth</h4> Tata Technologies will is expected to increase its headcount by at least 1,000 more employees in the upcoming financial year 2022-23, according to the Warren Harris, Managing Director and CEO of the company This hiring is beyond the planned recruitment of over 3,000 innovators over a 12-month period to fulfil the requirements of customers as its business growth accelerates, Harris added.. The Singapore based Tata Technologies is an arm of Tata Motors and a global engineering and product development digital services firm, looking to strengthen its position to enhance its performance and numbers. In January, the technology player announced plans to hire over 3,000 innovators over a 12-month period under its expanded talent acquisition programme. The company is eyeing to ramp up its work workforce in all major markets globally and India, including Maharashtra, Karnataka and Tamil Nadu, among other parts of the country. The company is constrained by opportunities, but by the supply side. The new investment in the workforce will boost the capacity and capability, enabling it to fulfill the requirement of its customers, the new agency PTI said citing Harris. According to the top company management personnel, the company has hired over 1,500 people in the third quarter (October-December) of the ongoing fiscal year, highlighting the success of the company in the given area. The company is committed to increase the headcount by 3,000 in FY 2022-23 and the company is moving in the right direction, he added. When asked to elaborate on how significantly higher the hiring will be, Harris said, "In terms of above 3,000, we are putting together the business plan for next year but I would expect us to exceed 3,000 by at least 1,000 people." Tata Technologies has been growing rapidly on the back of the move to autonomous, connected, electrification and shared (ACES) mobility and accelerated investment in digital as manufacturing companies adapt to meet new and evolving customer needs. Unlistedzone constantly reiterates the fact that Tata Technologies is one of the best available electric vehicle (EV) plays in the listed and unlisted space. It is driving towards strong revenue generation in the current fiscal to be back on the growth track via new business opportunities and thus higher headcount is needed. In the third quarter ended December 31, 2021, Tata Technologies had reported an operating revenue of Rs 1,034.1 crore and profit before tax of Rs 201.2 crore. This was the best quarterly performance of the company. Harris said that across the manufacturing sector, with the investments made in the move towards electrification, connected areas and autonomous driving, the industry is starting to see an inflexion point. He believes that these segments are now mainstream investments and are a huge catalyst for growth of the companies. While the growth over the past 12 months has been in the entire mobility sector, Harris said that in the third quarter, the aerospace industry has bounced back and the company won significant businesses in both aerostructures and in manufacturing engineering and tooling. Technologies Technologies is considering the buyback up to 12,40,122 equity shares of face value of Rs 1 each, which represents 2.97 per cent of the paid up equity share capital of the company. The proposed buyback price of equity shares is at Rs 1,982 apiece, aggregating the total buyback to Rs 245.8 crore. While the growth over the past 12 months has been in the entire mobility sector, Harris said that in the third quarter, the aerospace industry has bounced back and the company won significant businesses in both aerostructures and in manufacturing engineering and tooling. The industry is focusing on the similar lines in terms of making investments. Tata Technologies is also empanelled by Airbus in their engineering, manufacturing engineering and services strategic supplier programme. "That's a programme that is limited only to 17 companies around the world and they compete for over USD 2 billion of annualised spend. So that, for us, is a big milestone for our company," Harris told PTI
<h4 class="gmail_default"><strong>Tata Technologies mulls for a Rs 245 crore buyback from shareholders</strong></h4> <div class="gmail_default"> Tata Technologies is considering the buyback of the equity shares, for which the Tata Group firm has issued a notice of postal ballot to the shareholders of the company. The remote e-voting period commenced from 10 am on Thursday, February 17, 2022, and is scheduled to end at 5.00 pm on Friday, March 18, 2022. The results will be declared later in the evening. The company board will consider the buyback of up to 12,40,122 equity shares of the face value of Rs 1 each, which represents 2.97 percent of the paid-up equity share capital of the company. The considered buyback price of equity shares is at Rs 1,982 apiece, aggregating the total buyback to Rs 245.8 crore. However, this excluded the transaction costs, brokerage, and applicable taxes. Founded in 1989, Tata Technologies is a subsidiary of Tata Motors, which primarily operates in North America, Europe, the Middle East, and the Asia Pacific region. Tata Technologies has reported a 120 per cent rise in the profit after tax (PAT) to Rs 154.6 crore for the quarter ended on December 31, 2021. On a sequential basis, the company has reported a 49 percent jump in the net profit. The total revenue from the operations jumped more than 60 per cent to Rs 1,042.3 crore in December 2021, whereas its income jumped 16 per cent on a sequential basis. Tata Technologies is one of the best available electric vehicle (EV) plays in the listed and unlisted space. Ii is driving towards strong revenue generation in the current fiscal to be back on the growth track via new business opportunities. In August 2005, Tata Technologies acquired INCAT International, a UK-and US-based automotive and aerospace puter engineering company for £53.4 million. INCAT was established in 1989. For the financial year 2020-21, Tata Technologies had posted a net profit of Rs 239.2 crore with a total income of Rs 2,425.7 crore. In August 2005, Tata Technologies acquired INCAT International, a UK-and US-based automotive and aerospace puter engineering company for £53.4 million. INCAT was established in 1989. The technology company claims to have seen a strong uptick in the various segments like the embedded technology business segment, even in the pandemic. Tata technologies has been partnering with automakers from India, China, US, Japan, and Sweden for more adoption. The company is bagging majority of overseas orders from four-wheeler OEMs, it is eyeing two-wheeler OEM's too. Tata Technologies' mechatronics has enabled infotainment integration and validation for a premium European luxury carmaker. </div>
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