Apollo Tyres, Karnataka Bank and Ashok Leyland to see some action today

Apollo Tyres is taking a price hike of 3-5% in the domestic market in the third quarter of this fiscal to offset the impact of rising commodity prices, which if continue to remain high, may compel it to take a similar increase in the fourth quarter. Up until September, the company had taken an average increase of around 9% in tyre prices.

Karnataka Bank has kicked off a CASA campaign (current account/savings account) campaign and launched a new KBL Current Account–Premium scheme targeting small and medium entrepreneurs. The scheme allows customers to have a new current account by maintaining a monthly average balance of Rs 25,000 and avail a host of premium facilities. Under the nationwide savings and current account mobilization campaign that began on November 15, the bank intends to mobilize more than 4,15,000 CASA accounts across India till February 28. With the campaign, the bank aims to introduce its superior line of digitally powered savings account products to its prospective customers.

Switch Mobility Automotive (SWITCH), a subsidiary of Ashok Leyland, and Chandigarh City Bus Services Society (CCBSS), have flagged off commercial operations of first lot out of 40 Electric buses in the city of Chandigarh. The company has bagged the order for 40 electric buses under the FAME-II scheme. These electric buses come with fast charging technology and will provide service within the route plans set by the Chandigarh Transport Undertaking (CTU).

NTPC and Indian Oil have signed a memorandum of understanding (MoU) to collaborate in the field of renewable energy and mutually explore opportunities for supply of low carbon/RE RTC captive power. This is a first-of-its-kind novel initiative by two leading national energy majors of India, to support the country’s commitment to achieve renewable energy targets & reduce greenhouse gas emissions.

Phoenix Mills (PML) has collaborated with Canada Pension Plan Investment Board (CPP Investments) to develop an office-led mixed-use asset in Lower Parel, Mumbai. The asset forms part of a larger mixed-use development at Phoenix Palladium, Mumbai. CPP Investments will commit to investing approximately Rs 1350 crore (C$231 million1) in tranches, for an ultimate equity stake of 49% in Plutocrat Commercial Real Estate (PCREPL), the entity that will own the asset.

Shreyas Shipping and Logistics has acquired one bulk carrier vessel. With this acquisition, the company embarks into a new line of business of owning bulk carrier vessels. This is the company’s first bulk carrier, which has been acquired for $14.175 million. The second bulk carrier vessel is expected to be delivered by end of November 2021.

Vicco labs and EPL have jointly worked to convert Vicco’s ‘Turmeric’ range of products to recyclable Platina tubes. Both Vicco Labs and EPL teams have worked together to do the required testing and ensure quality protocols are met, before the products are launched in the market.