Tata Motors surges on reporting good global wholesales
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in March 2016 rose 18% to 45,235 units in March 2016 over March 2015. Global wholesales of all passenger vehicles rose 8% to 73,515 units in March 2016 over March 2015. Global wholesales for Jaguar Land Rover were 64,579 vehicles including CJLR wholesales of 6,388 units in March 2016. CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR. Jaguar wholesales for the month were 13,370 vehicles while Land Rover wholesales were 51,209 vehicles in March 2016.
JSW Energy is set to acquire 1,000 MW unit of Jindal Power
JSW Energy is set to acquire 1,000 MW unit of Jindal Power in a deal that involves the former taking over debt of Rs4,000 crore along with the asset.
The acquisition will help JSW Energy to expand its capacity which could be well supported by relatively healthy balance sheet.
Ashok Leyland explores new avenues in Defence Segment
Ashok Leyland is eyeing massive expansion of its defence business as it forays into manufacturing of Field Artillery Tractor (FAT) platforms for manufacturing battle guns, 4x4 armoured vehicles and ambulances for the Indian armed forces.
The company has recently bagged an order worth Rs800 crore from the Ministry of Defence to develop 455 units of 6x6 FAT’s, 825 high-tech army ambulances and other super stallions ranging from 6x6, 8x8 to 10x10 heavy military trucks and vehicles under the ‘Make In India’ program.
RIL, BP discuss with government to drop arbitration
RIL and its partner BP Plc. have initiated discussions with the government to drop the arbitration.
Further, RIL- BP JV has also signalled their intention to invest $10 billion over the next few years to recover about 2.5 trillion cubic feet (tcf) of gas from deep sea fields. Sentimentally positive for RIL.
Sun Pharma gets USFDA nod for BromSite
Drug major Sun Pharmaceutical Industries has received approval from the US health regulator for its non-steroid drug BromSite used to treat inflammation and prevent pain in patients undergoing cataract surgery.
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