Latest Trucks Buses News
Dec 4, 2023
Stocks to watch: Check out the companies making headlines before the opening bell today, on December 4, 2023. 1/43 Hero MotoCorp: The world's largest two-wheeler manufacturing company recorded sales of 4.91 lakh units in November 2023, up by 25.6 percent over the 3.9 lakh units sold last year. Domestic sales grew by 25.4 percent YoY to 4.76 lakh units, and exports increased by 33 percent YoY to 14,764 units in November. 2/43 Tata Power: The Tata Group company has won the bid to acquire Bikaner-III Neemrana-II Transmission, a project special purpose vehicle (SPV) set up by PFC Consulting, a subsidiary of Power Finance Corporation. The company will maintain the transmission project for a period of 35 years. The project is estimated to cost Rs 1,544 crore and is expected to be commissioned within 24 months from the date of the transfer of the project SPV. 3/43 PVR INOX: In tax litigation with respect to service tax on the supply of food and beverage (F&B) in cinemas in the pre-GST regime, the company has received a positive order from the Customs Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi. CESTAT has approved the deletion of the original demand amounting to Rs 36.66 crore (including penalty and interest). 4/43 Hindustan Unilever: The stock of the FMCG major slipped 0.5 percent to close at Rs 2,502 per share on November 28 following weakness in the FMCG pack. Oveall, Nifty FMCG index was down 0.1 percent. 5/43 Maruti Suzuki India: The country's largest car manufacturing company said the total production in November fell by 3.3 percent to 1.47 lakh units, against 1.52 lakh units produced in the same month last year. Passenger vehicles' production dropped 4.2 percent YoY to 1.45 lakh units. 6/43 Siemens India: Siemens AG (Siemens Aktiengesellschaft, Germany) will buy an 18 percent stake in Siemens India from Siemens Energy Holding BV at a price of Rs 2,952.86 per share, which is a discount of 21.32 percent to the last closing price. Siemens AG and Siemens Energy Holding BV are promoters of Siemens. The transaction will be an inter-sector transfer among promoter entities. Siemens AG’s stake in Siemens India will rise to 69 percent from 51 percent earlier. 7/43 Eicher Motors: Royal Enfield sales in November increased by 13 percent to 80,251 units (motorcycles) against 70,766 units sold in the same month last year. Exports grew by 2 percent YoY to 5,114 units during the same period. 8/43 Bharat Forge: Sanjeev Nimkar has resigned as President and CEO of the company's industrial business to pursue opportunities outside the company. He was part of the senior management personnel (SMP) of the company. Now, the company has appointed Sumeet Banga as Senior Management Personnel and President & CEO of Industrial Business, with effect from December 1. In order to ensure a smooth transition, Nimkar will continue to be with the company until the end of February 2024. 9/43 Suzlon Energy: The BSE has included Suzlon Energy in its S&P BSE Power index. The changes will be effective on December 18. BlackRock Inc. has increased its stake in the renewable energy solutions company to 5.01 percent from 4.99 percent earlier as it bought 24.73 lakh equity shares in the company via open market transactions on November 30. 10/43 UPL: BlackRock, Inc., on behalf of discretionary management clients, sold 2,77,681 equity shares in the agrochemical company via open market transactions on November 30. With this, the shareholding of BlackRock in UPL was reduced to 3.04 percent from 3.08 percent earlier. 11/43 Lemon Tree Hotels: The hotel chain has announced the opening of the Lemon Tree Hotel in Hubli. This is the eighth property of the group in Karnataka. 12/43 KPI Green Energy: Subsidiary Sun Drops Energia has received new orders of 4.40 MW for executing solar power projects under the captive power producer (CPP) segment. With this new order, its cumulative orders of solar power projects till date have crossed 148+ MW under the CPP segment. 13/43 Ceat: Amansa Holdings sold 7 lakh shares of the tyre manufacturing company, which is equivalent to 1.73 percent of paid-up equity. These shares were sold by Amansa at an average price of Rs 2,115.86 per share, amounting to Rs 148.11 crore. 14/43 TVS Srichakra: The company has received an adverse order from the office of the Principal Commissioner of Customs, Mumbai, with a tax demand of Rs 11.02 crore, along with interest, penalties amounting to Rs 1.10 crore, and a redemption fine of Rs 3.84 crore, for the disputed tax period of October 13, 2017 to January 10, 2019. 15/43 GAIL (India): The state-owned petroleum business company has filed an arbitration case against SEPE Marketing & Trading Singapore Pte Ltd. in the London Court of International Arbitration. The quantum of claims stands at up to $1.817 billion and includes alternative reliefs, including non-monetary reliefs. The dispute is related to the non-supply of LNG cargoes to GAIL under a long-term LNG contract. 16/43 Bajaj Electricals: The company said its power transmission business operator, Bajel Projects, has received a contract worth Rs 142.28 crore for supply of plant and installation services from PowerGrid Energy Services, the subsidiary of Power Grid Corporation of India, in Pulwama and Awantipura districts of J&K. 17/43 Sterling and Wilson Renewable Energy: Shapoorji Pallonji and Company have made the full payment against the indemnity claim amount of Rs 342.87 crore to Sterling and Wilson Renewable Energy. This amount has been used towards the repayment of loans, including the loan defaulted by the company. 18/43 Mahindra EPC Irrigation: The company has received a contract worth Rs 2.45 crore for the supply of micro irrigation systems from the office of the Chief Engineer, Micro Irrigation Programme. 19/43 Strides Pharma Science: Associate company Stelis Biopharma has announced the closure of its transaction with Syngene International. Stelis and Syngene have executed the final agreements to transfer its Unit 3 multi-modal facility in Bengaluru to Syngene. The agreements were finalised with certain changes, like the gross consideration adjusted from Rs 702 crore to Rs 617 crore. Stelis has received a payment of Rs 395 crore, and the balance amount will be received upon completion of certain post-closing actions and final adjustments, if any, which are expected in December 2023. 20/43 NMDC Steel: The BSE has added NMDC Steel to its S&P BSE PSU index. The changes will be effective on December 18. 21/43 Jindal Stainless: Jindal Stainless will be replacing National Aluminium Company in the S&P BSE Metal index, with effect from December 18. 22/43 ASK Automotive: The automotive components manufacturing company has reported a consolidated net profit of Rs 41.2 crore for the quarter ended September FY24, declining 15.3 percent compared to the year-ago period, impacted by lower operating numbers with higher input costs, finance costs, and other expenses. Revenue from operations grew by 6.5 percent YoY to Rs 794 crore, supported by an increase in volume in the aluminium light weighting precision solutions and safety control cable egments. EBITDA during the quarter dropped 10.8 percent YoY to Rs 74.5 crore, with the margin falling 180 bps to 9.4 percent. 23/43 Brigade Enterprises: The company has launched a residential project, Brigade Sanctuary. Brigade Sanctuary is a joint development comprising 1,275 units with 1, 3, and 4-bedroom homes and has a gross revenue potential of Rs 2,000 crore. The total development area will be around 2 million square feet. 24/43 RSWM Ginni Filaments: RSWM, the yarn manufacturer, has signed a binding term sheet with Ginni Filaments for the acquisition of its spinning, knitting, and processing undertaking at Mathura on a slump sale basis at an enterprise value of Rs 160 crore. The transaction is expected to be completed within 90 days of the execution of the term sheet. 25/43 Alkem Laboratories: The US Food and Drug Administration (US FDA) conducted an inspection at the company’s API manufacturing facility at Mandva on November 27–December 1. At the end of the inspection, the company received Form 483 with three (3) observations. There is no data integrity observation. 26/43 Kamat Hotels (India): The hospitality services company has inaugurated its first property in Gujarat, The Orchid Hotel, Jamnagar. 27/43 Shree Digvijay Cement: KK Rajeev Nambiar has resigned as Chief Executive Officer and Managing Director of the company with effect from December 15, 2023, due to personal reasons. Nambiar was re-appointed as CEO and MD of the company for three years, up to July 31, 2024. Now, the board has appointed Ramanujan Krishnakumar as an Additional Director, Chief Executive Officer, and Managing Director of the company for 5 years, with effect from December 16, 2023. Ramanujan is currently working as Senior Vice President (Manufacturing). 28/43 Updater Services: The company said the board of directors has appointed Radha Ramanujan as Chief Financial Officer and key managerial personnel of the company. Balaji Swaminathan has resigned as Chief Financial Officer and Key Managerial Personnel of the company with effect from December 30, 2023, while the board approved the promotion and appointment of C. R. Saravanan as Chief Operating Officer of the company with effect from January 1, 2024. 29/43 HFCL: The company has received purchase orders worth Rs 67 crore for the supply of optical fibre cables to one of the domestic telecom service providers in the country. The order is expected to be executed by April 2024. 30/43 Brand Concepts: Ace investor Ashish Rameshchandra Kacholia has picked 1 lakh shares, or 0.94 percent stake, in Indore-based bags, backpacks, and fashion accessory makers via open market transactions. These shares were bought at an average price of Rs 657.55 per share, amounting to Rs 6.57 crore. In addition, RBA Finance also bought 94,192 equity shares in Brand Concepts at an average price of Rs 657.55 per share, whereas Tanam Investment Services offloaded 2 lakh shares in the company at the same price. 31/43 Artefact Projects: The company has received the project from the National Highway Authority of India for consultancy services as independent engineering for a four-laning road contract on HAM under Bharatmala Pariyojna in Andhra Pradesh. The company has received the Letter of Award for the said project from NHAI. The contracted fee for the project is Rs 5.40 crore. 32/43 GPT Infraprojects: The joint venture company GPT Rahee JV, with a 57 percent shareholding, has received arbitration amounts from IRCON International. The amount settled under the Vivad Se Vishwas II (the contractual dispute settlement scheme) stood at Rs 11.74 crore in the two Ganga bridge fabrication contracts. 33/43 Salasar Techno Engineering: The customised steel structures and EPC solutions provider, has bagged an EPC contract worth Rs 364 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO). The contract is expected to be completed within 36 months. 34/43 Zensar Technologies: Foolproof Singapore Pte Ltd., Singapore, the step-down subsidiary of Zensar Tech, will be merged with Zensar Technologies (Singapore) Pte Ltd., Singapore, the wholly owned subsidiary of Zensar Tech. The merger will take place at a cash consideration of GBP 1. 35/43 Harsha Engineers International: The company has entered into an agreement with Goldi Solar to jointly bid for the tender issued by SMC (Surat Municipal Corporation) for the EPC of a 10 MW (AC) ground-mounted grid-connected solar photovoltaic power plant with land on lease in Gujarat. The project includes comprehensive maintenance for up to 10 years, including free maintenance during the first year. 36/43 Bajaj Healthcare: Rupesh Nikam has resigned as Chief Financial Officer (CFO), Whole-Time Director, and Key Managerial Personnel of the company due to personal reasons. The last date of his leaving the company will be intimated by the company to the exchange in due course of time. 37/43 GMM Pfaudler: Subsidiary GMM Pfaudler US Inc. has completed the acquisition of Professional Mixing Equipment Inc. (MixPro) via the acquisition of 100 percent of the share capital of its holding company, 2012875 Ontario Inc. 38/43 Swan Energy: Swan Energy is going to replace Indiabulls Real Estate in the S&P BSE Realty index. The changes will be effective on December 18. 39/43 Surya Roshni: Tarun Baldua has resigned as Chief Executive Officer (CEO) of steel operations and the key managerial personnel of the company, with effect from November 30. 40/43 Computer Age Management Services: Great Terrain Investment, an affiliate of Warburg Pincus, is likely to sell a stake in CAMS, CNBC-TV18 reported, quoting sources. The base issue size is expected to be Rs 1,000 crore, and the floor price may be Rs 2,550 per share. 41/43 SM Gold: The company said the board of directors will be meeting on December 8 to consider the rights issue of equity shares. 42/43 Sundaram Fastners: Sundaram Fastners is going to replace UNO Minda in the S&P BSE Auto index, with effect from December 18. 43/43 Multi Commodity Exchange of India: Mithun Nayak has joined as Deputy Chief Technology Officer of MCX India and a Key Managerial Personnel at Vice President level with effect from December 1, 2023. Earlier, Mithun Nayak was working with Indian Energy Exchange as Vice President Engineering, and was associated with Edgeverve Systems as Senior Product Line Manager. Navisha Joshi first published: Dec 4, 2023 07:06 am Get ₹100 cashback on checking your free Credit Score on Moneycontrol. Gain valuable financial insights in just two clicks! Click here Trending news
Trucks Buses Frequently Asked Questions (FAQ)
Where is Trucks Buses's headquarters?
Trucks Buses's headquarters is located at #96, Sector-32, Gurgaon-122001,, Haryana.
What is Trucks Buses's latest funding round?
Trucks Buses's latest funding round is Other Investors.
Who are the investors of Trucks Buses?
Investors of Trucks Buses include Volvo Group Venture Capital.