IGI Logo

Key News

Coal India's capex rises 65% to Rs 3,034 crore in June quater of FY23

Coal India on Monday said its capital expenditure increased 64.8 per cent to Rs 3,034 crore in June quarter 2022-23, driven by strong spend in acquiring land and strengthening transport infrastructure in its coalfields under firstmile connectivity projects.

Coal India's capital expenditure was Rs 1,841 crore in April-June period of last financial year.

L&T Construction bags orders to build data centres in Mumbai, Navi Mumbai

Larsen & Toubro (L&T) on Monday said it has bagged significant contracts to build data centres of capacities totalling 10.8 MW at Mumbai and Navi Mumbai.

The company will design, build and would be involved in supply work, among others for the data centres and allied buildings including fit-outs.

The orders are bagged by the buildings and factories business of L&T Construction, a subsidiary of L&T. The company classifies contracts worth Rs 1,000-2,500 crore as significant orders.

IOC, BPCL, HPCL may post Rs 10,700-cr combined loss in Q1: Report

Indian Oil Corporation (IOC), Bharat Petroleum and Hindustan Petroleum may post a combined loss of Rs 10,700 crore in June quarter on selling petrol and diesel at rates below cost, a report said on Monday.

While the raw material (crude oil) prices soared in April-June, petrol and diesel prices were not revised, leading to marketing losses which offset strong refining margins, ICICI Securities said in the report.

Murugappa Group to enter EV business, launch three-wheelers by Sept

The Murugappa Group will launch an electric three-wheeler brand called Montra by September and invest Rs 200 crore in the segment, said a senior executive on Monday.

The electric vehicles (EV) business comes under TI Clean Mobility (TCM), a fully-owned subsidiary of Tube Investments of India (TII), the makers of bicycle brands like BSA and Hercules and part of the Murugappa Group.

Nomura Singapore buys 1.25 mn shares of BLS International worth Rs 27 cr

Global financial services firm Nomura Singapore on Monday purchased 12.5 lakh shares of technology services provider BLS International Services Ltd for Rs 27 crore through an open market transaction.

According to bulk deal data available with the National Stock Exchange (NSE), Nomura Singapore Ltd bought 12,50,000 shares of the company at an average price of Rs 214 apiece, aggregating to Rs 26.75 crore.

Mercedes India clocks highest ever sales of 3,551 units in June quarter

Mercedes-Benz India on Monday reported its highest ever second-quarter sales at 3,551 units, registering a 113.5 per cent jump over the year-ago period. The company had sold 1,664 units in the April-June period of 2021. The highest ever Q2 sales were achieved on the back of new product launches, sustained demand for existing products and services, and a unique omnichannel customer journey created through the Retail of the Future initiative, Mercedes-Benz India said in a statement.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740

Above views are of the author and not of the website kindly read disclaimer