Stocks in the Spotlight: Eicher, Tata Motors, Oil India, Lemon Tree Hotels, Cipla and More

By siliconindia  |  Tuesday, 09 January 2024, 09:36:04 AM IST

Stocks in the Spotlight: Eicher, Tata Motors, Oil India, Lemon Tree Hotels, Cipla and More
Royal Enfield: The company has signed a non-binding Memorandum of Understanding (MoU) with the Tamil Nadu government. The agreement is to invest Rs 3,000 crore over the next 8 years to build greenfield and brownfield projects in the state. This investment is part of the Tamil Nadu Global Investors Meet 2024 which will be held in Chennai.
Tata Motors: Subsidiary Jaguar Land Rover (JLR) announced 27 percent YoY growth in Q3 sales to 101,043 units. YTD wholesales for FY24 were 291,113 units, up 28 percent year-on-year. Retail sales went up 29 percent to 109,140.
Bajaj Auto: The proposal to buy back shares worth Rs 4000 crore was approved by the board of directors. The company will purchase 40 lakh equity shares at an average cost of Rs 10,000 per share.
Cipla: The company announced a joint venture in the US with Kemwell Biopharma and Manipal Education & Medical Group to develop and commercialize novel cell therapy products for unmet medical needs in the US, Japan, and the EU.
Aurobindo Pharma: The company announced it received the establishment inspection report from the US FDA for its Telangana unit. The report classified the facility as “Voluntary Action Indicated.”.
Oil India: The company signed a Joint Venture Agreement (JVA) with Assam Power Generation Corporation to work together in the renewable and green energy business. The company will join hands with the public sector company to achieve maximum renewable power generation in the state.
Lemon Tree Hotels: The company has signed a franchise agreement for a new hotel with 75 rooms in Meerut, Uttar Pradesh. The hotel is expected to open in FY25.
BEML: The Ministry of Defense has awarded the company with a Rs 329.87 crore contract to supply Mechanical Minefield Marking Equipment Mark-II.
Brigade Enterprises: The company signed MoUs worth Rs 3400 crore with the Tamil Nadu government to develop projects in the next 3–4 years as part of the Tamil Nadu Global Investors Meet 2024 in Chennai. The company signed MoUs with the Chennai Metropolitan Development Authority (CMDA) and ELCOT, Information Technology and Digital Services Department.
IRM Energy: The company has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest Rs 858 crore in a project within the state over the next five years, as part of the Tamil Nadu Global Investors Meet 2024 in Chennai. This project is expected to create employment opportunities for 2200 individuals in the state.

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