Tata Motors, RattanIndia Enterprises and GMR Infrastructure to see some action today

Tata Motors has launched new variants of its flagship SUVs Harrier and Safari in the country. The new XTA plus trims of the two SUVs come with various features including six-speed automatic transmission and panoramic sunroof. The Harrier and the Safari are collectively leading the high-end SUV segment with a 41.2 per cent market share as of Q1 of the current fiscal and the XTA plus variants will further add more dynamism to the entire offering, strengthening the portfolio in this fast-growing segment.

RattanIndia Enterprises (REL) has decided to make a strategic investment in US based Matternet, the world's most extensive urban drone logistics platform. With this investment, REL has forayed into the deep-tech Unmanned Aerial Vehicle (UAV) industry, which is set to transform logistics ecosystems worldwide. Matternet, based out of Silicon Valley counts Boeing, Mercedes-Benz, McKesson Ventures and Sony as investors.

GMR Infrastructure is planning to raise funds up to Rs 6,000 crore in one or more tranche(s), through the issue of securities, including a qualified Institutions placement and/or foreign currency convertible bonds and/or any other securities. The Board of Directors is scheduled to meet on August 13 to consider and approve the same.

India Glycols’ board has approved to set up, install and commission grain based distillery units with a capacity of 180 KLPD and 110 KLPD at its Kashipur and Gorakhpur Sites. An estimated total capital expenditure of approximately Rs. 304 crore would be incurred on the project. The grain distillation capacities at Gorakhpur and Kashipur are expected to be commissioned by March 31, 2022.

Ester Industries has received approval for capacity expansion of certain grades of Speciality Polymer business. Investment required for capacity expansion is Rs 80 crore. Proposed capacity addition of these products will be 6000 MTPA. The board of directors at its meeting held on August 09, 2021 has approved the same.

Onmobile Global has completed the acquisition of 100% stake in Technologies rob0 Inc., through its subsidiary Onmobile Global Solutions Canada. With this acquisition, company is all set to add new gaming technology and knowhow to accelerate and enhance the gaming business.

Welspun India has earmarked capital expenditure of Rs 600 crore in the ongoing fiscal for completing expansion projects across its three business verticals. The company expects its top line to grow by over 15 per cent in FY22 on the back of expanded capacities and with customer demand remaining buoyant.