The overall passenger vehicle wholesales (dispatches to dealers) saw a mixed trend in October with Maruti Suzuki India (MSIL), Tata Motors and Hyundai Motor India is seeing a dip in sales and Mahindra & Mahindra (M&M) and JSW MG Motor India posting the highest-ever sales led by new launches during the month. M&M sales have surpassed Tata Motors’ sales numbers for the second consecutive month to 54,504 units (as against 43,708 units in October 2023) while Tata Motors’ sales were recorded at 48,423 units in October as compared with 48,637 units in the corresponding month last year. Two-wheeler segment remain robust with TVS Motor Co, and Hero Moto Corp reporting better numbers for October.
Ola Electric Mobility Ltd on Friday reported a 74 per cent rise in vehicle registrations at 41,605 units in October 2024 as compared to the same month last year. The company sold over 50,000 units in October 2024, Ola Electric said in a statement The registration numbers are as per Vahan data, it added.
AdOnMo has secured additional capital from new investors as of September 25, with Zomato opting not to participate in this round. Consequently, Zomato’s shareholding in Adonmo has reduced from 19 per cent to 17 per cent. Zomato made ₹112 crore investments in AdOnMo in January 2022.
Gensol Engineering Ltd has secured a large turnkey EPC order from a leading public sector utility in Maharashtra. The project involves the development of a 150 MWac ground-mounted solar PV power plant, with a total contract value of ₹780 Crore, is set to be executed over a 15-month period.
Premier Energies International Private Ltd. & Premier Energies Photovoltaic Private Ltd, subsidiaries of Premier Energies Limited, have received and accepted multiple orders aggregating to ₹560 crore from 2 large Independent Power Producer (IPP) and others. These orders include ₹513 crore for Solar Modules and ₹47 crore for Solar Cells. The supply of these modules is scheduled to commence from December.
Ashoka Buildcon has been declared as the Lowest Bidder (L-1) for the Project Establishment of 400/220 KV Substation at Nandgaon Peth Dist. Amravati along with associated transmission lines under Amravati Zone, MSETCL Maharashtra for ₹312.13 crore incl. GST, to be executed within 18 months excluding monsoon period.
Apollo Hospitals Worli LLP, a subsidiary of Apollo Hospitals Enterprise Ltd, proposes to establish a 500 bed hospital in Worli Mumbai through a Build, Operate and Manage agreement. In addition, the company‘s subsidiary, Apollo Medics International Lifesciences Ltd, also proposes to expand its existing hospital facility in Lucknow to 500 beds from the present 300 beds by adding another 200 beds, to be developed on a contiguous parcel of land that Apollo Medics has acquired adjacent to its existing facility.
NBCC (India) has received work orders: Construction of Multipurpose Examination Hall Cum Innovation centre at Mahatma Ghandi kashi Vidyapith University Varanasi amounting ₹44 crore appx.; Repair and Renovation of Panani Bhawan/ academic block at Sampurnanana Sanskrit University, Varanasi ₹5 crore appx; renovation of Power Grid Corporation of India Ltd. corporate office building situated at Plot no. 2 Sector 29. Gurugram, Haryana, amounting ₹186.46 crore appx.
Dr Reddy’s Laboratories is recalling over 3.3 lakh bottles of a medication used to treat high calcium levels in the blood and hyperparathyroidism in the US market due to manufacturing issues. According to the latest Enforcement Report by the US Food and Drug Administration, Dr Reddy’s is recalling the 3,31,590 bottles of Cinacalcet tablets in multiple strengths in the American market due to CGMP (current good manufacturing practice) deviations. The recall is due to the “presence of N-nitroso Cinacalcet impurity above FDA recommended interim limit”, it added.
The U.S. District Court of New Jersey has issued a preliminary injunction preventing Sun Pharmaceuticals from launching Leqselvi, a treatment for severe alopecia areata. Under this ruling, Sun Pharma is prohibited from introducing Leqselvi until a favorable court ruling is achieved or the patent in question expires. The company has expressed disagreement with the decision and plans to file an immediate appeal.
Rushil Decor has announced a planned 16-day shutdown of its Chikmagalur MDF manufacturing unit for maintenance work, tentatively starting on November 5. The company has prepared adequate inventory to cover production needs during this period, aiming to prevent any potential revenue loss from the temporary closure.
MOIL has cut price for its manganese ore, effective November 1. The price for ore with manganese content of 44 per cent and above has been cut by 7 per cent, while ore with manganese content below 44 per cent will see a 1 per cent price decrease.
NCC has secured orders worth ₹3,496 crore in October from state and central government bodies, as well as private companies.
Capital markets regulator SEBI has slapped a fine of ₹50 lakh on promoter and former MD of Eros International Media Sunil Arjan Lulla in a case related to the violation of regulatory norms. In June 2023, SEBI passed an interim order, wherein the regulator prohibited five entities, including Eros International and its Managing Director (MD) Sunil Lulla from securities markets in a case on the possible diversion of funds based on prima facie findings. The regulator also barred Sunil Lulla from holding the position of a director or a key managerial personnel in any listed company, including Eros or its subsidiaries or any Sebi-registered intermediary until further orders.
DLF will invest around ₹8,000 crore to develop an ultra-luxury housing project in Gurugram as it seeks to encash strong demand for premium homes. Last month, DLF did a pre-launch of its 17-acre super-luxury housing project ‘The Dahlias’ at DLF 5, Gurugram, after obtaining all regulatory approvals and has received a good response from customers. The company will develop around 420 apartments in this project, which is the second ultra-luxury offering from DLF after the successful delivery of ‘The Camellias’.
UPL (formerly United Phosphorus Ltd) and its promoter and Chairperson Jaidev Rajnikant Shroff have settled a case related to an alleged violation of regulatory norms with capital markets regulator SEBI after paying ₹20.2 crore towards settlement charges. The settlement order came after the applicants -- UPL and Jaidev Rajnikant Shroff -- proposed to settle the instant proceeding through a settlement order “without admitting or denying the findings of fact and conclusions of law”. The period of investigation was from January 2006 to March 2008.
AO. Smith Corporation on Friday announced the completion of the acquisition of FMCG major HUL’s water purification business Pureit. HUL, in a regulatory filing, said it has “completed the sale and divestment of its water purification business carried under the brand ‘Pureit’.” Pureit offers a broad range of residential water purification solutions across India, Bangladesh, Sri Lanka, Vietnam and Mexico, among others. HUL in July this year announced the sale of its water purification business to AO Smith India Water Products for $72 million (about ₹600 crore), as part of a global transaction by its parent Unilever.
Jupiter Wagons Limited (JWL), a leading provider of comprehensive mobility solutions encompassing rail, road, and marine transportation, announced a landmark acquisition of Log9’s Railway and Electric Battery technology and business. Jupiter Electric Mobility (JEM), a subsidiary of JWL, recently announced a landmark acquisition of Log9’s technology and business assets for its Railway and Electric Battery Divisions. This acquisition marks a significant advancement in JEM’s mission to revolutionize the electric mobility landscape in India by expanding its portfolio with cutting-edge battery solutions tailored for both the electric truck segment and Indian Railways.
Refex Renewables & Infrastructure informed the exchanges about the acquisition of balance 51 per cent equity stake in Sherisha Solar SPV Two Private Limited by Refex Green Power Limited, its subsidiary. Post the acquisition, Shrisha has become a step-down wholly-owned subsidiary of the company.
Results calendar: ABB, Automobile Corporation of Goa, AF Enterprises, Andhra Paper, Amara Raja Energy Mobility, Bata India, Beeyu Overaseas, Chemfab Alkalies, Conrad Communications, Chaman Lal Setia, Dhampur Bio Organics, Exide Industries, Gland Pharma, Gleam Fabmat, Hatsun Agro, IL&FS Engineering, IRCTC, JK Paper, Kabra Drugs, Sai Silks (Kalamandir), Kaycee, KEC International, Kunstoff, Manali Petrochemicals, Marat Overseas, P&G Hygiene, QGO, Raymond, SPARC, Suraj, Tilaknagar Industries, TI India and VST Tillers.