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Tata Power Renewable Energy to set up 200 MW solar project in Maharashtra:

Tata Power Renewable Energy Ltd (TPREL) on Tuesday said it has received a letter of award from MSEDCL to set up a 200 MW solar project in Solapur, Maharashtra. The letter of award has been received from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project will be commissioned within 18 months from the PPA (Power Purchase Agreement) execution date. The project was awarded through competitive bidding, followed by a reverse eauction, TPREL said in a statement.

Power Finance Corp board approves plans to raise Rs 80,000 cr in FY24:

State-owned Power Finance Corporation (PFC) on Tuesday said its board has approved raising up to Rs 80,000 crore through various financial instruments.An amount of Rs 40,000 crore will be raised through long-term domestic borrowings, and another Rs 20,000 crore by way of long-term foreign currency borrowing, according to a filing.Besides, proposals have been approved for raising up to Rs 20,000 crore through short-term borrowings and commercial paper.

Tata Motors to raise prices of commercial vehicles by 5% from April:

Tata Motors (TML) will increase prices of its commercial vehicles (CV) range by 5 percent starting April 1, ahead of the transition to the BS 6 phase II new emission norms. This would be the fourth price hike by India’s largest automobile maker this fiscal year-- the first one was announced last March and came into effect from April 2022. Thereafter, TML has implemented price hikes in July 2022 and January 2023. The total price hike thus taken by the CV maker is around 12 percent.

Domestic expected to see double digit growth in FY24:

JK Tyre MD Domestic tyre industry is expected to witness double-digit growth next fiscal with the automobile industry back on full swing, JK Tyre Chairman and Managing Director Raghupati Singhania said on Tuesday.JK Tyre, which on Tuesday introduced a tyre brand -- Levitas Ultra -- to cater to the luxury car segment, is also expected to follow the industry growth path and report a double-digit sales growth next financial year, he noted. "Tyre industry had undergone a bit of a rough patch in the last couple of years back when the auto industry was in a bit of a slowdown due to Covid and all that... Now with the economic activity improving the tyre industry is coming back on full swing," Singhania said.

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