Automobile companies will announce their sales numbers for January today. With the New Year setting in, analysts expect better sales figures from auto majors. Focus will be on Tata Motors, Maruti Suzuki, Mahindra & Mahindra, Ashok Leyland, Escorts, Eicher Motors, Bajaj Auto, TVS Motor Company and Hero MotoCorp, among the others.
Tata Steel has announced that Tata Steel Long Products Ltd, a subsidiary of Tata Steel, has won the bid to acquire a 93.71 per cent stake in the 1 mtpa Neelachal Ispat Nigam Ltd. The total consideration of ₹12,100 crore reflects the enterprise value (including all recorded liabilities) as part of the acquisition of 93.71 per cent equity stake in NINL, it said.
Tata Power:State Bank of India has entered into an agreement with the company's subsidiary, Tata Power Solar Systems, for financing solar projects under the Surya Shakti Cell. Set up in Ballard Estate in Mumbai, the Surya Shakti Cell will process all the loan applications for solar projects (capacity up to 1 MW) sourced from across India, for installation by business entities as well as households.
Infibeam Avenues Ltd (IAL) has received an Expression of Interest (EOI) from the royal family of Qatar, to form a Joint Venture (JV) for the Qatar region, to accelerate the payment's business, together with the primary equity investment in the said JV, by them. The board discussed the EOI and the in-principle commitment through EOI and decided to initiate steps to consummate the investment transaction, as per regulatory provisions, to grow the payments business in the Qatar region.
Mangalam Organics has successfully commissioned new Steam Boilers and Thermopac to manufacture 10,000 tpa of Camphor from existing capacity of 5,000. Commercial production for the additional capacity of 5000 tpa was started on January 31 and "is under stabilisation".
Nihar Info Global has announced the launch of its own New Brands. Nihar Info Global Ltd is a 27-year-old BSE listed company. It is a Premium Seller in ecommerce portals such as Amazon.in, Flipkart.com and Snapdeal.in. The company plans to launch three private labels for various products.
Results Calendar: Adani Ports and Special Economic Zone, Cholamandalam Investment and Finance Company, Elecon Engineering, Gujarat Ambuja Exports, IFB Industries, Indian Hotels, Indoco Remedies, Jubilant Ingrevia, Kansai Nerolac Paints, Laxmi Organic Industries, Mangalore Chemicals & Fertilizers, Procter & Gamble Hygiene & Health Care, Poonawalla Fincorp, Sona BLW Precision Forgings, Tech Mahindra, Triveni Turbine, TTK Prestige and VIP Industries