Brigade Enterprises, Maruti Suzuki India and ITI to see some action today

Brigade Enterprises’ sales bookings grew by 59 per cent to Rs 1,310.6 crore in the first half of this fiscal year against Rs 825.9 crore in the corresponding period of the previous year, driven by a revival in housing demand and low-interest rate on home loans. The sales bookings in value terms increased by 48 per cent to 20,78,000 square feet from 14,09,000 square feet. The average sales realisation improved by 8 per cent to Rs 6,304 per square foot during the first half of this fiscal from Rs 5,864 per square foot in the year-ago period.

Maruti Suzuki India (MSI) is planning to drive in CNG trims across its product range as it remains bullish over long-term prospects of the segment amid increase in fuel prices and drop in diesel car sales. The company, which sold around 1.62 lakh CNG cars last fiscal year, is also counting on the rapid expansion of CNG dispensing outlets across the country to bring in more CNG products.

ITI has received a Letter of Intent (LoI) from Urban Development Department, Government of Maharashtra for the implementation of a centralized monitoring system based on information and communications technology (ICT) for solid waste management procedures in all urban local bodies of Maharashtra. The value of this contract is Rs 400 crore. This project will run for a period of seven years.

Ashok Leyland has received approval from its board to transfer its electric vehicles (EV) business to its step-down subsidiary Switch Mobility Automotive, India (SMAL) for Rs 240 crore on a slump sale basis. Also, the board has approved the transfer of its eMaaS (e-mobility as a service) business for Rs 65 crore to Ohm Global Mobility, India, a step down subsidiary of Hinduja Automotive, UK, the promoter of the company.

Mukand has received approval to purchase additional 1,33,77,000 equity shares (49% of equity share capital) of Mukand Sumi Metal Processing (MSMPL) from Sumitomo Corporation, Japan (SC), on such terms and conditions as may be mutually agreed among the parties.

Wipro has joined CargoWise Service Partner Network to enable global supply chain transformation. As a partner, Wipro will leverage the CargoWise logistics execution platform to help transportation and logistics companies stay ahead of the competition, and accelerate their business value from freight forwarding, customs, track and trace, transportation optimization and warehouse management. Wipro with its deep expertise in logistics process modernization, frameworks and supply-chain support services will offer a three-month certification course to train consultants, streamline planning and help scale supply-chain competencies.

Puravankara has received an approval to acquire additional 52% of shareholding in its associate company Propmart Technologies (PTL) for a token consideration of Rs 1,00,000 and consequently Propmart Technologies will become a subsidiary of Puravankara. PTL’s business is complementary to the business of the company and PTL has bright future in its business. The Board of Directors of the company at their meeting held on November 12, 2021 has approved the same.