Tata Motors Ltd. reduced the prices of its electric vehicles by up to Rs 1.2 lakh as it sees battery prices softening in the future.
“With battery cell prices having softened in the recent past and considering their potential reduction in the foreseeable future, we have chosen to proactively pass on the resulting benefits directly to customers," Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility Ltd., said in a statement.
The Bengaluru-based Prestige Estates Project Ltd.'s profit fell in the third quarter of fiscal 2024, missing analysts' estimates.
The listed real estate developer's profit tumbled 2% year-on-year to Rs 164.7 crore for the quarter ended December from Rs 162 crore in Q3 FY23. That compares with the Rs 269-crore consensus estimate of analysts tracked by Bloomberg.
The Indian Railways Catering and Tourism Corp.'s third quarter profit rose though it missed analysts' estimates due to a lower mix of its internet ticketing business.
The national transporter's net profit increased 17.4% to Rs 299.9 crore in the quarter ended December, according to an exchange filing on Tuesday. That compares with the Rs 302.6-crore consensus estimate of analysts tracked by Bloomberg.
India’s benchmark equity indices closed lower on Thursday as the FMCG sector dragged the most, followed by banks after the RBI failed to announce any measures to ease tight liquidity. The NSE Nifty 50 was 212.55 points or 0.97% lower at 21,717.95 and the Sensex ended 723.57 points or 1% lower at 71,428.43.
Hero MotoCorp Ltd. declared an interim dividend of Rs 75 per equity share and a special dividend of Rs 25 per equity share.
The special dividend of Rs 25 per share was announced to mark the centennial year of Chairman Emeritus Brijmohan Lall Munjal, an exchange filing said on Friday.