Tata Motors announced that there will be a price increase across its commercial vehicle range, effective 1 January 2021. The steady rise in material and other input costs, impact of forex and transition to BS6 norms, have cumulatively escalated the cost of manufacturing vehicles.
Lupin announced that it has received approval for its Rufinamide Oral Suspension, 40 mg/ml, from the United States Food and Drug Administration, to market a generic equivalent of Banzel Oral Suspension, 40 mg/ml, of Eisai Inc.
Thermax said that the company has acquired remaining 24% stake in First Energy Private Limited (FEPL), an alternative energy solution company, effective December 21, 2020. Accordingly, the equity shareholding of the Company in FEPL stands increased from 76% to 100%.
Key indices turned negative zone after opening higher amid volatility. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 127.35 points or 0.28% at 45,426.61. The Nifty 50 index was down 46.95 points or 0.35% at 13,281.45. Asian stocks are trading lower.
The S&P BSE Mid-Cap index was down 1.66%. The S&P BSE Small-Cap index was down 2%.
The market breadth, indicating the overall health of the market, is weak. On the BSE, 437 shares rose and 1678 shares fell. A total of 62 shares were unchanged.
Stocks in news:
Tata Motors fell 1.25%. Tata Motors announced that there will be a price increase across its commercial vehicle range, effective 1 January 2021. The steady rise in material and other input costs, impact of forex and transition to BS6 norms, have cumulatively escalated the cost of manufacturing vehicles.
First Energy Private Limited becomes Wholly Owned Subsidiary of Thermax Limited
Posted On: 2020-12-21 07:49:35 (Time Zone: Arizona, USA)
Thermax Ltd has acquired remaining 24% stake in First Energy Private Limited (FEPL) effective December 21, 2020. Accordingly, the equity shareholding of the Company in FEPL stands increased from 76% to 100%. Now, FEPL is a wholly owned subsidiary of the Company.
FEPL is a subsidiary of Thermax wherein Thermax Limited was holding 76% of its paid up share capital before the date of this acquisition. FEPL is an alternative energy company based in Pune, India that applies biomass and gasification technology to heating applications; specifically home and commercial cooking. It is engaged in the business of manufacture & supply of biomass pellets, gasification technology and cooking stoves. It caters to consumers in India through their brand Oorja which consists of a biomass stove and a fuel - made from pelletized agri-residue. The stove uses