Top gainer: Bajaj Finserv 1,845 ▲ 61 (+3.4%)
Top loser: Dr. Reddy’s Laboratories 6,860 ▼ 171 (-2.4%)
Godrej Properties emerges as highest bidder in e-auction to develop two housing plots
Godrej Properties has announced that it has emerged as the highest bidder to develop two group housing plots at premium locations in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The combined bid value for both the plots is ₹515 crore, it said. Godrej Properties said the plot measuring 3.6 acres is located in the prestigious Golf Course Road micro-market whereas the plot measuring 1.97 acres is strategically located in Sector 39 with proximity to NH 48. Read more
Adani Energy Solutions completes SPV acquisition of Khavda Phase-IV Part-A transmission project
Adani Energy Solutions (AESL) on Monday said it has completed the special purpose vehicle (SPV) acquisition of Khavda Phase-IV Part-A transmission project after receiving a letter of intent (LOI) from REC Power Development and Consultancy. The Khavda IV A transmission line, part of National Grid, will help evacuate 7 GW of renewable energy (RE) by connecting 765 kilovolts (kV) double circuit lines from Khavda to Lakadia and Khavda to Bhuj, both in Gujarat, and setting up transformation capacity of 4,500 MVA. Read more
M&M reports 16% rise in SUV sales in August
Mahindra & Mahindra, on Monday, announced it sold 43,277 sports utility vehicles (SUVs) in August 2024 registering a growth of 16% year-over-year (YoY). Shares of the firm were trading over 1% lower on Monday. Overall auto sales, including exports, for August stood at 76,755 vehicles while domestic sales for commercial vehicles stood at 21,092. On a year-to-date (YTD) basis, domestic sales of utility vehicles rose 20% YoY to 2,09,148. M&M pointed out that sales of light commercial vehicles (LCV) less than two tonnes fell 24% YoY to 2,957 units while sales of LCVs between two tonnes to 3.5 tonnes fell 18% YoY to 14,661. Read more