Maruti Suzuki, Power Grid and Rama Steel Tubes to see some action today

Maruti Suzuki is planning to increase price in January 2023 which shall vary across models. The company continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase.

Power Grid Corporation of India is in the process of carving out its telecom vertical to a new fully-owned subsidiary, Powergrid Teleservices, in a bid to have a focused approach and to move up the value chain. The move by the state-run power transmission major comes close on the heels when the telecom sector is ramping up its 5G service across the country to bring business transformation that can contribute two per cent to the national GDP.

Rama Steel Tubes has received two new orders from Purvanchal Vidut Vitran Nigam and Paschimanchal Vidut Vitran Nigam aggregating to around Rs 6.7 crore. These orders are mainly for supply of Steel tubular poles. These orders will further strengthen RSTL's order book and credibility in the market.

SJVN, through its wholly owned subsidiary -- SJVN Green Energy, has bagged 200 MW Solar Power Project on Build Own and Operate (BOO) basis from Maharashtra State Electricity Distribution Company (MSEDCL) through e-RA conducted on December 02, 2022. The tentative cost of this project is around Rs 1200 crore and the project is expected to generate 455.52 Million Units (MUs) in the 1st Year and the cumulative energy generation over a period of 25 years would be about 10480.82 MUs. The commissioning of the Project is expected to reduce 513560 tonnes of carbon emission and would contribute in Government of India’s mission of reduction in carbon emission.

Titan Company’s wholly owned subsidiary -- Titan Holdings International FZCO, Dubai (Titan Holdings) has incorporated a Wholly Owned Subsidiary namely ‘Titan International QFZ’ (Titan International) in Qatar. Accordingly, it has become a step down subsidiary of the company effective December 01, 2022. Titan International will carry on the business of Lifestyle Products.

Enthused by strong housing demand, Godrej Properties is aggressively acquiring land for future development and has added eight new projects so far this fiscal with an estimated revenue potential of Rs 16,500 crore. With four months still left in 2022-23 financial year, the company is planning to add many more land parcels in its portfolio by March. The company is in discussions with multiple landowners for acquisition of land, either outrightly or by entering into joint development agreements (JDAs).

Easy Trip Planners has inked Share Purchase Agreement with Nutana Aviation Capital IFSC on December 02, 2022. Earlier, the Board of Directors at their meeting held on December 01, 2022, had inter-alia, considered and approved the acquisition of Nutana Aviation Capital IFSC by acquiring 75% share capital. The cost of acquisition is Rs 1.50 crore. Nutana Aviation will add a new revenue vertical for the company and enable it to scale up its business for renting and booking of charter aircrafts.