NIBE, Kajaria Ceramics and Tata Motors to see some action today

NIBE has received one purchase order from Larsen & Toubro for assemblies and sub-assemblies of Heavy Fabricated Structures for a total consideration of Rs 19.88 crore (inclusive of all taxes and duties).

Kajaria Ceramics has received an approval for additional acquisition upto 11,40,968 equity shares of Rs 10 each of Kajaria Vitrified (KVPL), a subsidiary company, at a consideration of Rs 1.80 crore, subject to applicable laws. The object of acquisition is to have better control over KVPL as the company has taken control on production along with sales of KVPL. Presently, the company holds 87.37% equity shares in KVPL and after completion of the proposed acquisition of 11,40,968 equity shares of KVPL, holding of the company in the equity shares of KVPL would be increased to 95%. The Board of Directors of the company at their meeting held on January 28, 2023 has considered and approved the same.

Tata Motors is all set to increase prices across its internal combustion engine (ICE) portfolio of the passenger vehicles. The company has been absorbing a significant portion of the increased costs on account of regulatory changes & rise in overall input costs and is hence passing on some portion through this hike. Effective February 1, 2023, the weighted average increase will be 1.2%, depending on the variant and model.   

Dixon Technologies (India) has entered into Term Sheet with Mega Alliance Holdings which is part of Tinno Group to form a Joint venture (JV). The proposed JV Company will undertake Research & Development, product designing, supply chain of multiple product categories like smart phones, IT Hardware products, IOT based products and other similar devices that facilitate voice and data communications for domestic and international market.

Bharti Airtel has added 10,56,430 customers in November 2022. Following this, the company’s total customer base has increased to 36.60 crore with market share of 32.03% in terms of wireless subscribers as on November 30, 2022.

Bajaj Finance has reported results for third quarter ended December 31, 2022. The company has reported rise of 35.70% in its net profit at Rs 2,624.22 crore for Q3FY23 as compared to Rs 1,933.85 crore for the corresponding quarter previous year. Total income of the company increased by 22.38% to Rs 9,214.61 crore for the quarter under review as compared to Rs 7,529.66 crore for the same quarter in the previous year. On the consolidated basis, the company has reported rise of 39.89% in its net profit at Rs 2,973.00 crore for Q3FY23 as compared to Rs 2,125.29 crore for the same quarter in the previous year. Total income of the company increased by 26.31% to Rs 10,785.95 crore for the quarter under review as compared to Rs 8,539.13 crore for the same quarter in the previous year.

In a major step aimed towards bolstering the 'Make in India' initiative, Garden Reach Shipbuilders and Engineers (GRSE) has signed a Memorandum of Understanding (MoU) with Rolls Royce Solutions of Germany for manufacture of high quality marine diesel engines. The MoU shall go forward among the highlights for the upcoming Aero India 2023.