Adani Enterprises signs coal mining agreement with MAHAGENCO

Adani Enterprises Ltd, along with its wholly-owned subsidiary Gare Palma II Collieries Pvt Ltd, has signed a pact with Maharashtra State Power Generation Co Ltd (MAHAGENCO) for the development and operation of Gare Palma Sector II coal mine for 34 years. The coal block was allotted for the development, operation, and captive consumption of coal to its end-use thermal power plants located at Koradi, Chandrapur 8-Parli. As per the approved mining plan, the peak rated capacity of the mine is 23.6 million tonnes per annum (MTPA).

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Reliance extends deadline to complete deal with Future Group

Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries, has extended the deadline for completion of its Rs 24,713 crore deal with Kishore Biyani’s Future Group by another six months (till Sept 30). The extension came in view of the ongoing legal battle between Future Group and e-commerce giant Amazon over the deal. On March 22, the Delhi High Court stayed an order restraining Future Retail from going ahead with the deal.

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Indian exports jump 58% to hit an all-time high of $34 billion in March

India’s merchandise exports jumped by 58% year-on-year (YoY) to $34 billion in March 2021. This is the highest monthly value of shipments out of the country. It was lead by an increase in engineering, garments, iron ore, and pharma exports. Imports rose 43% YoY to $48 billion during the same period. The trade deficit widened to over $14 billion in March 2021.

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Bajaj Auto reports 25.3% month-on-month increase in sales in March

Bajaj Auto Limited reported a 23.5% month-on-month (MoM) increase in wholesale dispatches of its motorcycles in March. The company sold 3.69 lakh units during the month, as compared to 1.98 lakh units in February. Overall commercial vehicle sales stood at 39,315 units in March 2021.

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Britannia Industries declares interim dividend of Rs 62 

The Board of Directors of Britannia Industries Ltd has declared an interim dividend of Rs 62 per share for the financial year 2020-21. The record date for determining the eligibility of shareholders for payment of interim dividend has been fixed as April 10, 2021. The dividend will be paid on or before April 30, 2021.

Adani Road Transport receives two road projects from NHAI

Adani Road Transport Limited (ARTL) has secured a road project from the National Highways Authority of India (NHAI). The order consists of six-laning of the Panagarh-Palsit section of NH-19 in West Bengal on a Build, Operate, and Transfer (BOT) basis. ARTL is a wholly-owned subsidiary of Adani Enterprises Limited.

In other news, ARTL has received a road project worth Rs 1,170 crore from the NHAI. The order consists of six-laning of the Badakumari-Karki section of NH-130-CD in Odisha on a Hybrid Annuity Mode (HAM).

IndiGo launches door-to-door baggage transfer service in Delhi, Hyderabad

InterGlobe Aviation Ltd (IndiGo) announced the launch of a door-to-door baggage transfer service in Delhi and Hyderabad. With IndiGo’s new ‘6EBagport’, customer baggage gets effectively and securely picked and transported with tracking from the first destination to the last one. The airline said it will subsequently launch ‘6EBagport’, in partnership with CarterPorter, in Mumbai and Bengaluru.

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ANG Lifesciences India acquires Mans Print & Publishers

ANG Lifesciences India Limited said it has acquired a printing and packaging firm, Mansa Print & Publishers Ltd (MPPL), as part of its strategic backward integration. MPPL had recently undergone the corporate insolvency resolution plan. It is engaged in the printing and packaging business, including the manufacturing of packaging products such as cartons, corrugated boxes, and aluminium foil.

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