JKB Financial Services Ltd.

As on : 11-Dec-2023

Market Commentary - Stock Alert
11-Dec-2023 08:59

Tata Motors, Dr. Reddy's Lab, REC, Mazagon Dock in focus

Tata Motors: Tata Motors announced that it will increase the price of its commercial vehicles effective 1 January 2024, up to 3%. The price increase is to offset the residual impact of the past input costs, and will be applicable across the entire range of commercial vehicles.

Dr. Reddy's Laboratories: The company informed that the United States Food & Drug Administration (USFDA) issued a Form 483 with three observations after the inspection conducted at R&D centre in Hyderabad.

REC: REC announced that it has signed a loan agreement worth 200 million euro with the German bank KfW. This is REC?s sixth line of credit under Indo-German Development Cooperation, which the firm will utilize to re-finance investments in the distribution infrastructure of DISCOMs in alignment with the Revamped Distribution Sector Scheme (RDSS) of the Government of India.

Mazagon Dock: The company announced that it has received an order worth Rs 1,145 crore from Oil and Natural Gas Corporation (ONGC) for the replacement of the pipeline.

Lemon Tree Hotels: Lemon Tree Hotels announced that it has signed a license agreement under the company?s brand Lemon Tree Hotels for an 80 rooms property in Kundapura, Karnataka.

Shoppers Stop: The company has commenced operations from its new store - Shoppers Stop Departmental Store situated at Ashirwad Highstreet Mall, City Light Main Road, Surat with effect from 8 December 2023.

Greenlam Industries: Greenlam Industries announced that its wholly owned subsidiary, Greenlam South has acquired approximately 86 acre of land in Sitapur, Uttar Pradesh valued at Rs 24 crore.

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