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NMDC cuts prices of lump ore, fines by Rs 500/tonne each, stock falls 5%

The country's largest iron ore producer NMDC has slashed the prices of lump ore and fines by Rs 500 a tonne each. Consequently, the company's stock fell over 5% on BSE on Tuesday. The prices are effective from Tuesday, the company which is also the largest seller of the mineral said in a regulatory filing.

Ola Electric unveils lithium-ion cell, to begin mass production by 2023

Ola Electric on Tuesday unveiled an indigenously developed lithium-ion cell - - NMC 2170 -- and the company will begin the mass production of its cell from its upcoming Gigafactory by 2023. The state-of-the-art High Nickel Cylindrical Ola Cell uses NMC on the cathode side; and graphite and silicon on the anode side.

Sun Estates to invest Rs 100 crore for developing villas, hotel in Goa's Arambol

Sun Estates Developers have acquired 15 acres of land overlooking the Arabian Sea in Goa’s Arambol to develop a Rs 100 crore resort project. "We intend to build villas and a hotel. It's a resort project where the villas will be sold and the hotel will manage them. The launch would be sometime in March 2023. The hotel chain would be internationally recognised. We would be investing Rs 100 crore," Suraj Morajkar, MD, Sun Estates Developers, told Moneycontrol.

Eveready Industries appoints Anand Chand Burman, Mohit Burman as non-executive directors

Eveready Industries has appointed Anand Chand Burman and Mohit Burman as its Non-Executive Directors, the company said in an exchange filing on July 12. The manufacturer of batteries, batteries, and flashlight cases, among others, said in the exchange filing that Dr Anand Chand Burman, 70, is a trained pharmacist and is widely recognised for his interests in research and development which has helped him earn over 40 patents in his name. He has particular interests in the R&D in Pharmaceutical Sciences and Biotechnology and Technology issues.

Bosch to invest over Rs 200 crore in next 5 years in India

Auto components major Bosch Ltd will invest over Rs 200 crore in India in the next five years in advanced automotive technologies and digital mobility space, its Managing Director Soumitra Bhattacharya has said. The company is also "quietly and cautiously optimistic about having a double-digit growth in FY2022-23 over the previous fiscal year", Bhattacharya, who is also Bosch Group India President, wrote to the company's shareholders in the annual report for FY22. He pointed out that the world is going through "unprecedented" challenges like the supply chain crisis, including the continued chip shortages, China lockdown -- in particular Shanghai, Ukraine-Russia War and geopolitical shifts. "...this has resulted in one of the highest inflations we have seen in the world with impacts on interest rates and slowing down of the economy with a looming and possible recession," Bhattacharya said.

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