RITES, Maruti Suzuki India and Tata Motors to see some action today

RITES has signed a memorandum of understanding (MoU) with KIIFCON, a consultancy organisation under the Kerala Infrastructure Investment Fund Board (KIIFB), to jointly explore, identify, secure, and execute consultancy projects. As part of the MoU, both entities will work as partners (development and execution) to provide consultancy for transport and infrastructure projects in various sectors, including highways, airports, ports & waterways, urban transport (metros), sustainability, urban/industrial planning, bridges & tunnelling and railway infra etc., across the domestic and international market. They will jointly develop a ‘go-to’ market strategy to work proactively and bring in best practices by leveraging each other’s strengths to optimize operations.

Maruti Suzuki India has reported a 9 per cent decline in total wholesales at 1,39,347 units in December 2022 compared to the year-ago month. The company had clocked a total sales of 1,53,149 units in the same month in 2021.

Tata Motors is all set to complete acquisition of Ford India's manufacturing plant at Sanand through its subsidiary -- Tata Passenger Electric Mobility (TPEML) on January 10, 2023. The acquisition included the entire land and buildings; vehicle manufacturing plant along with machinery and equipment and transfer of all eligible employees of Ford India’s vehicle manufacturing operations at Sanand.

Indian Energy Exchange (IEX) has got shareholders' approval to buy back shares worth up to Rs 98 crore. The proposal to buy back shares worth up to Rs 98 crore is approved by requisite majority through postal ballot. The board of directors in its meeting held on November 25, 2022, had approved the cash offer for buyback of equity shares of face value of Rs 1 each at a maximum price of Rs 200 per share for an aggregate amount up to Rs 98 crore.

Virinchi’s 100% material subsidiary -- Virinchi Health Care has received the Certificate of Registration for performing the live donor liver transplantation only by Health, Medical and Family Department of Government of Telangana. The certificate of Registration is valid for a period of 5 Years. 

Mahindra & Mahindra (M&M) has completed acquisition of the balance 12.61% stake in Mahindra Waste To Energy Solutions (MWTESL) from present and ex-employees of the company and as on date, the company holds 100% of the paid-up Equity Share Capital of MWTESL. Total acquisition cost is upto Rs 3.5 crore (upto 37,84,158 equity shares at a price not exceeding Rs 9.24per equity share). MWTESL is engaged in conversion of municipal waste to bio-CNG through bio-methanation.

Cantabil Retail India has opened 10 new showrooms/ shops at different location in India during the month of December 2022. Now total number of showrooms/ shops of the company stands at 439. Earlier, the company had opened 5 new showrooms/ shops at different location in India during the month of November 2022.