Mahindra & Mahindra has received the green light from the Reserve Bank of India to reduce its ownership in Korean automaker SsangYong Motor, putting the sale process with the potential investor on fast track, according to people privy to the development. The maker of XUV500 and Scorpio has got a nod from the country’s central bank to reduce its stake in Ssangyong to 25 per cent from the current 75 per cent through capital reduction. A Mahindra spokesperson declined to comment, redirecting the query to a spokesperson at the Korean subsidiary.
SsangYong filed for court receivership in December 2020, and the court decided the autonomous restructuring support (ARS) programme before putting it under rehabilitation. The rehabilitation process is basically debt readjustment, which may include restructuring of workforce.
CIL says coal grade slippage in Q3 down to 34 percent
Grade slippage implies that the fuel s grade during the sampling is found inferior than the declared grade.
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NEW DELHI: State-owned Coal India (CIL) on Wednesday said coal grade slippage in the third quarter of the ongoing fiscal was down to 34 percent and clarified that provisional bills of customers later get adjusted once the actual quality of coal is tested.
Grade slippage implies that the fuel s grade during the sampling is found inferior than the declared grade.
CIL s coal is divided into 17 grades. Each grade of coal depending on its heat content is assigned a Gross Calorific Value (GCV).
Shares of Tanla Platforms hit fresh record high and were locked in the 5 per cent upper circuit at Rs 960 on the BSE on Tuesday. Till 10:04 am, a combined around 100,000 equity shares had changed hands and there were pending buy orders for total 96,000 shares on the NSE and BSE, data show.
In the past two weeks, shares of the IT software products company have rallied 40 per cent after the company reported a stellar October-December quarter (Q3FY21) results. In comparison, the S&P BSE Sensex has declined 2.6 per cent during the same period.
India’s largest CPaaS provider delivered its best third quarter revenues. On a year-on-year basis, revenues grew 21 per cent to Rs 654 crore accounting for more than a third of last year’s annual revenues.
Shares of Dabur India were trading 2 per cent lower at Rs 507.55 on the BSE in intra-day trade on Friday after nearly 10 million equity shares of the personal products company changed hands via block deals. At 09:15 am, around 9.63 million equity shares representing 0.54 per cent equity of Dabur India changed hands on the BSE, the exchange data shows. The name of the buyers and sellers were not known immediately. At 10:05 am, the stock was trading 1.65 per cent lower at Rs 511.60, as compared to 0.28 per cent decline in the S&P BSE Sensex. As many as 11.37 million shares or 0.64 per cent equity of the company changed hands on the counter as against an average of 87,000 shares that were traded daily in the past two weeks.
1.5-litre petrol and 1.3-litre turbo-petrol engines to power midsize SUV
MG to improve localisation levels for competitive positioning “By the end of this year, it (our portfolio) should be good for SUVs, including one EV and three other SUVs. So that s what we intend to do,” said Chaba, outlining the carmaker’s plans for 2021.
Production-ready MG Model K to get a unique nameplate MG already retails the all-electric version of the ZS in our market. However, it is now gearing up to introduce the petrol iteration of the midsize SUV, and in order to give it a distinct identity, the company is expected to ditch the ‘ZS’ nomenclature and launch the product with an all-new moniker.