In a recent interview, Anil Agarwal, the chairman of Vedanta Ltd, revealed that the company is on track to finalize its steel assets sale by the end of the current financial year. This strategic move follows the comprehensive review of its steel and steel raw material business, which was established through the acquisition of ESL Steel in 2018 for Rs 5,230 crore. The objective is to refocus on the core mining businesses.
In a recent disclosure to the Bombay Stock Exchange (BSE), Bajaj Auto has reported its September 2023 sales figures. Despite some fluctuations in its performance, the company’s total vehicle sales for the month experienced a minor year-on-year (Y-o-Y) dip, declining by 1%, totaling 392,558 units, compared to 394,747 units sold in the same period last year.
In an impressive feat, Adani Ports and Special Economic Zone (APSEZ) reported a remarkable 26% year-on-year (YoY) increase in cargo volumes for the month of September, reaching an impressive 32.8 million metric tonnes (MMT). This substantial growth was not confined to a single sector; it spanned across all cargo segments, including containers (20%), dry bulk (32%), and liquid & gas (21%), as announced in a recent press release.
L&T, a renowned name in the construction industry, announced on Tuesday that one of its esteemed subsidiaries has clinched a substantial contract for the construction of a crucial bridge in the bustling city of Mumbai. The esteemed project has been awarded to the Transportation Infrastructure division of L&T Construction, marking another remarkable achievement for the company. This noteworthy endeavor, known as the Dahisar-Bhayander Bridge project, has been sanctioned by the Municipal Corporation of Greater Mumbai (MCGM), highlighting its importance for the region.
Ashok Leyland Ltd has disclosed a robust 9% year-on-year (YoY) upswing in its total sales, with an impressive total of 19,202 units sold throughout September 2023. This achievement stands in stark contrast to the 17,549 vehicles sold during the same month in 2022, as officially reported by the company in a regulatory filing submitted to the Bombay Stock Exchange (BSE).
In an exciting development, Mumbai-based pharmaceutical powerhouse Marksans Pharma proudly announced on Tuesday that it has secured the highly coveted final approval from the United States Food and Drug Administration (USFDA). This milestone achievement came through its Abbreviated New Drug Application (ANDA) for Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg, now available over-the-counter (OTC).
Maruti Suzuki India, a prominent player in the Maruti Suzuki production automotive industry, has announced a 1% decrease in its total vehicle production for the month of September. The company produced a total of 174,978 units during this period, down from 177,468 units in September 2022.
In a proactive move, Tata Technologies voluntarily submitted a settlement application to Sebi, in which it neither admitted nor denied any wrongdoing. This action aimed to preclude potential enforcement proceedings associated with the alleged breaches of the Disclosure and Investor Protection (DIP) guidelines.
Reliance Jio Infocomm, a telecommunications giant, has successfully secured a substantial offshore loan amounting to Rs 16,640 crore (equivalent to $2 billion) for the financial year 2023-24 (FY24). This noteworthy achievement, reported by The Economic Times (ET) on a recent Tuesday, marks one of India’s largest offshore loans in this fiscal year. The primary objective behind this financial maneuver is to facilitate the procurement of telecommunications equipment from the renowned Finnish corporation, Nokia. HSBC has played a pivotal role as the lead arranger for these loans.
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