Here is the list of the top 10 actions likely to be in the spotlight on Friday:
Maruti Suzuki India: India’s leading automaker, Maruti Suzuki, said on Thursday that the company will raise prices in January 2022 due to increases in various input costs. The company said the price hike would vary by model. “Over the past year, the cost of the Company’s vehicles has continued to be negatively affected due to the increased costs of various inputs. Therefore, it has become imperative for the company to pass on some of the impacts of the above additional costs to customers through higher prices, ”Maruti said in an exchange brief today.
Power of Tata: Tata Power has partnered with amã Stays & Trails, India’s premier portfolio of branded homestays in India by Indian Hotels Company Ltd, to install electric vehicle charging stations in more than 30 of its heritage villas and bungalows in 11 destinations. Growing demand for sustainable transport infrastructure has led a growing number of hotel brands to invest in electric vehicle (EV) charging points, according to a statement.
Jet Airways: India’s Jet Airways is in talks with aircraft makers Boeing Co and Airbus SE for a $ 12 billion order, BloombergQuint reported Thursday, citing Bloomberg News. The new owners of the airline, UAE-based businessman Murari Lal Jalan and UK investment firm Kalrock Capital, told Bloomberg News that Jet could buy at least 100 narrow-body planes, a BloombergQuint said on Twitter.
SBI: The State Bank of India (SBI) recently signed an agreement with Adani Capital Private Ltd (Adani Capital), the NBFC arm of the Adani Group, for a co-loan to farmers for the purchase of tractors and farm implements. “With this partnership, SBI would be able to target farmer clients in the interior hinterland of the country seeking adoption of agricultural mechanization to improve crop productivity. The SBI is actively seeking co-loan opportunities with several NBFCs to finance agricultural mechanization, warehouse receipt financing, agricultural producer organizations (OPA), etc., to improve credit flows to double income. farmers, ”said a statement.
L&T: Construction giant Larsen & Toubro (L&T) and leading renewable energy company ReNew Power (ReNew) on Thursday signed an agreement to tap into India’s emerging $ 60 billion green hydrogen market. The companies are targeting the segment’s $ 2 billion business potential in India and neighboring countries within two years.
Vedanta: Cairn Oil and Gas, a unit of Vedanta Ltd, plans to invest up to $ 5 billion over the next 2-3 years with the goal of increasing oil production to nearly 500,000 barrels per day, a said Managing Director Prachur Sah. “Cairn’s ambition remains that we want to reach 50% of India’s oil and gas production, which means we want to go to almost 500,000 barrels per day, both from our existing assets and of the new blocks that we have acquired. And the plan to achieve this is to invest in improved recovery and additional exploration activities, ”Sah said in an interview. “In order for us to meet production targets, we should consider investing between $ 4 billion and $ 5 billion over the next two or three years. years. “
Biocon: Biocon Pharma Ltd, a subsidiary of Biocon, has received its ANDA approval for mycophenolic acid from the US drug regulator. “Biocon Pharma, a subsidiary of the company, has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for mycophenolic acid,” the company said in a regulatory file. This product is indicated for the prophylaxis of organ rejection in adult patients receiving kidney transplants and is available in strengths of 180 mg and 360 mg.
Meghmani Finechem: The rating agency Crisil upgraded the rating of Meghmani Finechem Ltd to Crisil AA- / Stable with the justification of steady revenue growth, a healthy operating margin, good demand prospects and an improvement in the financial risk profile. “Crisil has revised the outlook for Meghmani Finechem Limited’s long-term banking facilities from ‘Crisil A + / Positive’ to ‘CRISIL AA- / Stable’,” the agency said in a statement.
ABB India: The company announced on Thursday that it has completed the sale of its mechanical power transmission division to Dodge Industrial India Pvt Ltd for a review of ??44.58 crores. Dodge Industrial India is a subsidiary of RBC Bearings Incorporated.
Crompton: Electronics brand Crompton Greaves Consumer Electricals Ltd., (CGCEL) has established its largest research and development (R&D) center in Vikhroli, Mumbai, to step up innovation. Spread over 50,000 square feet, the new center will undertake research and development in important consumer applications as well as advanced technological improvements such as IoT, energy efficiency and solution development.
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