Tata Motors to hike prices of CVs by 2.5% from Jan 2022

Tata Motors Ltd will hike the prices of its commercial vehicles (CV) by ~2.5% from January 1, 2022. The price increment will be effective across the following segments: medium & heavy commercial vehicles (M&HCV), light commercial vehicles (LCV), small CVs, and buses. The increase in the costs of commodities and raw materials (aluminium, steel, semiconductors, and essential metals) has forced the automaker to incite an increment in price.

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Reliance Jio conducts trial of connected drones on its 5G network

Reliance Jio has conducted successful trials of connected drones on its indigenous 5G network. The trial involved a precision command and control of drones over 5G using a fleet management system running on the cloud. It performed tasks such as image recognition, track-and-trace, discrete payload pickup & delivery, video imagery, and real-time drone control. Jio has developed its own homegrown 5G stack, which it plans to export abroad after testing its competence on a pan-India scale.

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Tata Power signs MoU with IIT Madras to collaborate on R&D, training, tech solutions

Tata Power has signed a Memorandum of Understanding (MoU) with IIT Madras to collaborate on research & development (R&D), consultancy, advocacy, training, and technology solutions. As a part of the MoU, Tata Power and IIT Madras will aim to pursue advanced research in areas of future technology. The agreement also includes campus recruitment opportunities for postgraduate students of IIT Madras.

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Godrej Properties partners with TDI Group for luxury housing project in Delhi

Godrej Properties Ltd has entered into a joint venture (JV) with TDI Group to build a luxury housing project at Connaught Place in Central Delhi. The project would have a development potential of about 1.25 lakh square feet saleable area. This will be the realty company’s third project in Delhi.

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IEX electricity volume up 54% YoY to 9,477 MU in November

Indian Energy Exchange (IEX) traded 9,477 million units (MU) of electricity in November 2021, achieving a 54% YoY (or 3.4% QoQ) growth. The traded volumes of the day-ahead market fell 3% YoY to 4,719 MU in November, with the average monthly price at Rs 3.1 per unit. The term-ahead market (comprising intraday, contingency, daily & weekly contracts) traded 302.7 MU during the same month, registering a 23.4% YoY growth.

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Ramkrishna Forgings secures order worth Rs 72 crore

Ramkrishna Forgings Ltd has received a domestic order worth Rs 72 crore from an Indian automaker in the medium & heavy commercial vehicles (MHCV) segment.  The order has to be executed over a period of four years. The company has built a strong and diverse customer base in India and is now looking to strengthen its presence and gain market share. 

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Toyota Kirloskar Motor partners with Karnataka Bank for financing solutions

Toyota Kirloskar Motor (TKM) has partnered with Karnataka Bank to finance its vehicles across cities and towns in India. The bank will be one of the preferred financiers for the entire range of vehicles sold by TKM. The finance options at competitive interest rates will be available to customers (including those covered under priority sector schemes) for purchasing Toyota vehicles for private and commercial use.

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GSS Infotech acquires Polimeraas for Rs 250 crore

GSS Infotech Ltd has acquired a 100% stake in farm-to-store company Polimeraas for Rs 250 crore in a stock and cash deal. Polimeraas operates 75 stores across Hyderabad and Bangalore, with an average footfall of 21,000 per store per month. The company deals with procurement, distribution, and sale of agricultural products, processed food, and other home consumables. GSS Infotech is an IT company specialising in application development, e-commerce & cloud, security, and remote infrastructure management.

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Indo Count Industries to acquire home textile business of GHCL

Indo Count Industries Ltd (ICIL) has entered into a Business Transfer Agreement (BTA) with GHCL Ltd for the acquisition of its home textile business at Vapi, Gujarat. The company has also signed an Asset Transfer Agreement (ATA) for the acquisition of specified assets of GHCL’s US subsidiary. The cost of the acquisition is Rs 576 crore. ICIL is a leading manufacturer and exporter of home textiles.

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Vodafone Idea in talks with vendors for sourcing 5G gear

As per reports, Vodafone Idea (Vi) has initiated talks with several local & international telecom vendors and system integrators to explore gear sourcing options for its 5G network. The company aims to negate potential cost implications that sourcing from traditional European vendors Nokia and Ericsson may have in the absence of competition. Vi’s rivals Reliance Jio and Bharti Airtel have either developed their own 5G stack or have entered strategic partnerships to jointly build the network technology in India with non-traditional companies.

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