Market Commentary - Stock Alert
Auto stocks, Kotak Bank, Biocon, Tata Power in focus As on : 04-Sep-23  08:20

Maruti Suzuki India: The car major announced that its total production grew 3.5% to 1,65,402 units in August 2023 compared with 1,59,815 units recorded in August 2022.

Eicher Motors: Eicher Motors' total motorcycles (Royal Enfield) sales grew 11% to 77,583 units in August 2023 from 70,112 units sold in August 2022.

Hero MotoCorp: The two-wheeler major's total sales increased by 5.64% to 4,88,717 units in August 2023 from 4,62,608 units in August 2022.

Kotak Mahindra Bank: Kotak Mahindra Bank informed that Uday Kotak resigned from his position of managing director (MD) & chief executive officer (CEO) of the bank with effect from 1 September 2023. Meanwhile, as an interim arrangement, Dipak Gupta, the joint managing director, will carry out the duties of MD & CEO until 31 December 2023, subject to the approval of the Reserve Bank of India (RBI) and the members of the bank.

Infosys: The IT major announced that it has completed the acquisition of Denmark headquartered Danske Bank's IT centre in India.

Biocon: The biopharmaceutical company announced that its step-down, wholly-owned subsidiary, Biocon Generics Inc., has acquired Eywa Pharma Inc.'s oral solid dosage manufacturing facility located in Cranbury, New Jersey, U.S., effective 1 September 2023.

Tata Power Company: Tata Power Company on Friday announced that its subsidiary, Tata Power Renewable Energy (TPREL) has signed a power delivery agreement (PDA) with Chalet Hotels for 6 MW AC Group Captive Project.

GMR Power and Urban Infra: Subsidiary GMR Smart Electricity Distribution Private Limited (GSEDPL) received the Letter of Award from Purvanchal Vidyut Vitran Nigam to implement smart metering project in the Purvanchal (Varanasi, Azamgarh zone and Prayagraj, Mirzapur zone) area of Uttar Pradesh.

Rail Vikas Nigam (RVNL): RVNL announced that it has received letter of acceptance (LoA) from Madhya Gujarat Vij Company (MGVCL) for full turnkey contract worth Rs 282.11 crore.

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