Daily Corporate Updates: December 13, 2024 {update}

Tata Motors to Hike Prices of Trucks and Buses

Tata Motors has announced a price increase of up to 2% across its truck and bus portfolio. The revised prices will come into effect starting January 1, 2025. The company stated that the hike is necessary to offset rising input costs.

NESCO Wins Bid for Highway Project

NESCO has been declared the highest bidder for a project under National Highways Logistics Management. The project involves developing, operating, and maintaining wayside amenities on the Hyderabad-Visakhapatnam Expressway. NESCO plans to invest Rs 50 crore per site for four locations to deliver top-notch amenities.

NHPC Revises Borrowing Plans

NHPC has updated its borrowing plans for fiscal 2025. The company will raise up to Rs 6,900 crore via non-convertible debentures. From this, Rs 2,600 crore will be raised in one or more tranches through private placements.

Key Leadership Appointment at NACL Industries

NACL Industries has appointed Anish T. Mathew as its new Chief Financial Officer. His tenure will begin on December 13, 2024, bringing fresh leadership to the company’s financial operations.

Fire Incident Halts Gopal Snacks Operations

Gopal Snacks faced an unexpected halt in operations due to a fire incident at one of its facilities. The company is yet to announce when normal operations will resume.

ICICI Lombard Wins in Delhi High Court

ICICI Lombard General Insurance received favorable orders from the Delhi High Court. The court annulled the adjudicating authority’s previous Order-in-Original. The case will now be revisited, considering the already issued show cause notice.

Bajel Projects Bags EPC Work Order

Bajel Projects secured an EPC work order from Solapur Transmission, a special purpose vehicle under Torrent Power. This order highlights the company’s growing presence in the infrastructure sector.

Veefin Solutions Acquires Stake in Walnut AI

On December 12, 2024, Veefin Solutions acquired a 50% stake in Walnut AI PTE. This acquisition is expected to enhance revenue streams and bring new synergies to the business.

Ashok Leyland Shuts Down Russian Operations

Ashok Leyland has voluntarily liquidated its Russian arm. With this, the arm is no longer a step-down subsidiary of the company.

Welspun Corp Divests Sintex Logistics

Welspun Corp completed the divestment of Sintex Logistics. Following this, Sintex Logistics is no longer a wholly owned step-down subsidiary of the company.

Medplus Health Services Faces License Suspension

Medplus Health Services encountered a setback as one of its Hyderabad stores received a drug license suspension order. The company is working to resolve the matter.

Siyaram Silk Mills Launches Cadini Italy Perfumes

Siyaram Silk Mills has expanded its portfolio by introducing Cadini Italy Perfumes in India under the Cadini Italy brand. This marks the company’s entry into the fragrance market.

GNA Axles Commissions Solar Power Plant

GNA Axles has commissioned a 4 MW rooftop solar power plant at its manufacturing unit in Kapurthala, Punjab. This initiative will support the company’s captive energy needs and reduce its carbon footprint.

G R Infraprojects Secures Rs 108 Crore Project

G R Infraprojects received a letter of intent for a Rs 108 crore transmission project in Karnataka. The project will enhance the company’s footprint in the power infrastructure segment.

JK Tyre Secures €30 Million Loan

JK Tyre and Industries will receive a long-term loan of €30 million from Deutsche Investitions. This funding will support the company’s production expansion in Madhya Pradesh, boosting its manufacturing capabilities.