: The country’s largest carmaker will increase the prices of its vehicles ‘substantially’ from next month as it looks to offset the impact of rising input costs and make provisions to update the model range to conform to stricter emission norms which kick in from April 2023.
NTPC: The state-owned power giant is likely to get a strategic investor for its arm NTPC Green Energy by March 2023, which will help raise up to Rs 3,000 crore for implementing renewables projects in the country.
: The state-owned power transmission major is in the process of carving out its telecom vertical to a new fully-owned subsidiary,
Teleservices, in a bid to have a ‘focused approach’ and to move up the value chain.
Pharma stocks: Drug majors Dr Reddy’s Labs and
are recalling different products in the US market for manufacturing issues, according to the USFDA. Dr Reddy’s Labs is recalling over 48,000 cartons of a drug used to treat sneezing, runny or stuffy nose. Sun Pharma is recalling 14,064 cartons of a medication to treat erosive esophagitis.
Godrej Properties: The real estate firm has bought an 18.6 acre land parcel at Kandivali, in Mumbai for around Rs 750 crore to develop a luxury housing project. It informed about the land transaction but did not disclose the total deal value.
PB Fintech: Softbank sold 2.28 crore shares or 5.1 per cent stake at an average price of Rs 456.4 apiece worth Rs 1,042.52 crore of the parent of Policybazaar, through an open market transaction, according to block deal data available with the NSE. Goldman Sachs, Societe Generale, Morgan Stanley and Max Life were among the buyers.
NMDC: The state-owned metal miner reported eight per cent growth compared to the same month last year in iron ore production at 3.61 million tonnes and 5.5 per cent jump in sales at 3.04 million tonnes in November. Its iron ore production for the period September-October-November 2022 is recorded as the best ever production.
Krishna Institute of Medical Sciences: An arm of US-based equity firm General Atlantic offloaded 14.5 lakh shares or 1.8 per cent stake of hospital chain at average price of Rs 1,480 apiece for Rs 214.6 crore through an open market transaction, according to the bulk deal data available with the BSE.
Mahindra & Mahindra Financial Services: The NBFC said in November 2022, the business continued its momentum with disbursement of approximately Rs 4,500 crore, delivering a 75 per cent year-on-year growth on positive macro environment. The disbursement in 2022 so far stood at Rs 31,050 crore, grew 99 per cent on yearly basis.
: The battery firm said it will be investing over Rs 9,500 crore, over a period of 10 years for setting up research and development, and a greenfield manufacturing facility for lithium-ion battery-making in Mahbubnagar district of Telangana.
Bank of India: The state run lender has raised Rs 1,500 crore by allotting Basel-III compliant additional Tier-I bonds, to seven investors. The bonds issue opened on December 1 received good response from investors, getting bids worth Rs 6,367 crore against offer size of Rs 1,500 crore.
(India): The water treatment company has received a contract worth Rs 343.36 crore from
, which includes designing, engineering, manufacturing, supply, erection, testing, pre-commissioning, commissioning, performance guarantee test run and operation & maintenance for five years at Panipat refinery.
MOIL: The state-owned miner produced 1.2 lakh tonne of manganese ore last month, registering a growth of 60 per cent over October. The state-owned firm is braced for much better performance in the remaining period of the ongoing fiscal year.
: Billionaire Gautam Adani’s group has found investors willing to sell over 53 lakh shares of NDTV despite the deep discount to the stock’s current trading price, giving it the rights – which it may or may not exercise – to nominate a chairman of the broadcaster.
Green Energy Services: The recently liseted wind power operation and maintenance service provider posted net loss of Rs 11.87 crore on consolidated basis for quarter ended September FY23, increasing from loss of Rs 11.58 crore in previous quarter. Revenue from operations rose marginally to Rs 61.9 crore.
SJVN: The state-owned utility plaeyr said that its arm SJVN Green Energy has bagged a 200 MW solar project worth Rs 1,200 crore from Maharashtra State Electricity Distribution Company.
: The metal tube maker has received two new orders worth Rs 6.7 crore. These orders are mainly for supply of steel tubular poles to Purvachal Vidut Vitran Nigam, and Paschimanchal Vidut Vitran Nigam.
: The trading player has completed the sale of its 100 per cent shareholding held in Cravatex Brands, a material subsidiary, to Metro Brands on December 1, the company said.
