Buzzing Stocks Today: Hindalco, BHEL, Bajaj Finance, IndiGo and More – A Closer Look
Macrotech Developers
In a significant stride, real estate giant Macrotech Developers, known for its Lodha brand, has disclosed a remarkable 12% year-on-year surge in sales bookings, amounting to Rs 3,530 crore during the period of July-September. This surge is attributed to robust demand in the housing sector.
Hindalco
In an exciting development, Hindalco Industries Ltd has announced its strategic partnership with the Odisha Mining Corporation. This collaboration is set to ensure a reliable and long-term supply of Bauxite ore, a crucial raw material for various industrial processes.
Hitachi Energy
Tamil Nadu, India – October 5, 2023 – In a momentous event, Tamil Nadu Chief Minister M K Stalin inaugurated the grand opening of Hitachi Energy’s largest global tech hub, the sprawling Global Technology and Innovation Centre in Chennai. The new facility, spanning an impressive 3,00,000 square feet, includes an expansive 50,000 square feet dedicated to cutting-edge laboratories. This landmark establishment falls under the umbrella of Hitachi Energy Technology Services, a wholly owned subsidiary of the prestigious Hitachi Energy Ltd. based in Switzerland.
BHEL
In a significant financial move, Bharat Heavy Electricals Limited (BHEL), the renowned state-owned engineering company, has disbursed a substantial final dividend of Rs 88 crore to the Government of India for the fiscal year 2022-23.
Tata Elxsi
Tata Elxsi, a prominent design and technology services firm, has announced an exciting collaboration with the Indian Institute of Science (IISc) to develop cutting-edge automotive cybersecurity solutions. This innovative partnership builds upon their existing Memorandum of Understanding (MoU) and combines Tata Elxsi’s expertise in artificial intelligence and machine learning with their strategic focus on software-defined vehicles (SDV) and electric vehicle (EV) solutions. In tandem, they harness the robust research capabilities of IISc, based in Bengaluru.
Bajaj Finance
In a strategic move unveiled on October 5, Bajaj Finance, a prominent Non-Banking Financial Company (NBFC), has set its sights on raising a substantial Rs 10,000 crore via a combination of Qualified Institutions Placement (QIP) and preferential issue of shares. Of this, a significant sum of up to Rs 8,800 crore will be garnered through QIP, while an additional Rs 1,200 crore will be secured through preferential allotment to its promoter entity, Bajaj Finserv.
Tata Motors
In a significant stride towards staying at the forefront of the automotive industry, Tata Motors has unveiled an ambitious initiative to upskill more than 50% of its extensive workforce with cutting-edge auto tech and automotive technology expertise over the next five years. This strategic move is geared towards cultivating a highly skilled and forward-thinking team focused on the burgeoning realms of electric vehicles and other emerging automotive technologies.
Sun Pharma
In a strategic stake acquisition move, pharmaceutical powerhouse Sun Pharma has announced its acquisition of a substantial 37.76% stake in Ezerx Health Tech, a leading non-invasive diagnostic and ancillary medical device company, for a noteworthy sum of Rs 28.69 crore.
IndiGo
Budget airline IndiGo has implemented a fuel charge for both domestic and international routes. This change, effective from midnight on October 6, 2023, is expected to impact travelers planning journeys during the upcoming festive season and year-end holidays.
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