Tata Motors’ Q1 net profit declines 57%

Mumbai: Tata Motors on Friday reported a 57% decline in consolidated net profit at Rs 2,260.40 crore for the first quarter ended June 30, due to post Brexit adverse foreign exchange impacting its British arm JLR. Consolidated net sales in the first quarter were up 10% at Rs 66,101.27 crore as against Rs 60,093.79 crore in the year-ago period. PTI

New Delhi

Net1 to invest up to $40 million in MobiKwik

Alternative payment system provider Net1 UEPS Technologies will invest up to $40 million in mobile wallet service company MobiKwik. It said as part of the strategic partnership, Net1’s Virtual Card technology will be integrated across all MobiKwik wallets in order to provide ubiquity across all merchants in India. TNS

New Delhi

DHFL to raise Rs 10,000 crore via NCDs

Mortgage firm DHFL on Friday said it plans to raise Rs 10,000 crore from non-convertible debentures (NCDs) to fund business growth. The NCD issue of face value of Rs 1,000 each with a base issue size of Rs 2,000 crore and an option to retain oversubscription of up to Rs 8,000 crore aggregating up to Rs 10,000 crore opens on August 29, it said. PTI 

Mumbai

M&M’s DiGiSense to access vehicle info

Mahindra & Mahindra on Friday launched DiGiSense, a technology solution aimed at empowering owners, fleet operators, drivers, dealers and service teams to access information about their vehicles on a real-time basis. The technology will provide data like locating the vehicles real-time, history of the vehicle travel, reduce idling time in traffic zones with better route plan and save fuel cost and improve productivity. PTI

New Delhi

Coal India to invest Rs 7,765 crore in FY’17

Coal India will invest around Rs 7,765 crore towards capital expenditure in the ongoing fiscal and Rs 5,069 crore in various projects, including railway infrastructure, super critical thermal power plant and solar power. In addition, an ad-hoc provision of Rs 2 crore has been kept for its overseas activities. PTI