In News
Hero MotoCorp: The world's largest manufacturer of two-wheeler sold 3.9 lakh units in November 2022, a growth of 12 percent over the corresponding month of the previous year. The company had sold 3.49 lakh units in November 2021. Hero expects the momentum to build-up in coming quarters on favorable economic indicators, including encouraging farm activity and positive consumer sentiments along with upcoming marriage season.
Eicher Motors: The company has sold 70,766 motorcycles in November 2022, registering a 37 percent growth over 51,654 units sold in same month last year, but exports dropped 27 percent YoY to 5,006 motorcycles.
NLC India: The company and GRIDCO (Grid Corporation of Odisha) has signed MoU for setting up of ground mounted/floating solar power projects, pumped hydro storage projects, green hydrogen projects and any other renewable projects. This MoU will enable both the parties towards National targets for renewable energy capacity and energy transition goal.
Kotak Mahindra Bank: The private sector lender has allotted 15,000 long term fully paid up non-convertible bonds with a face value of Rs 10 lakh each, on private placement basis. The coupon rate is 7.63% per annum and the tenor is 7 years from date of allotment.
SJVN: The public sector company said its subsidiary SJVN Green Energy has signed a Memorandum of Understanding with Grid Corporation of Odisha for developing 1,000 MW hydroelectric projects and 2,000 MW solar power projects in Odisha by incorporating a joint venture company. The development of these projects will attract an investment of Rs 20,000 crore and is expected to generate 4,207 million units (MUs) in first year and a cumulative generation of around 96,797 MUs over a period of 25 years.
Orchid Pharma: The company said its board has approved qualified institutional placement (QIP) issue to raise Rs 500 crore. With this QIP placement, the Dhanuka group, which took over the company in 2018, is also meeting its mandatory obligation to dilute 15% stake in Orchid Pharma by March 2023.
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