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Auto OEMs are expected to release wholesale volumes for June 2022 today and are expected to report a decent show with mid-single digit MoM growth across most of the categories

MTAR Technologies has received orders worth about Rs 174.6 crore in the clean energy segment

SRF announced that the project to create multi purpose plant 4 at Dahej at Rs 375 crore, which was approved by the Board on May 5, 2021 has been commissioned and capitalised on June 29, 2022 at an aggregate cost of Rs 405 crore

As per media reports, Reliance Brands (RBL) has signed a long-term franchise partnership with Pret A Manger (global fresh food & organic coffee chain) to launch and build the brand in India

Maruti Suzuki launched is facelifted Brezza at a price of Rs 8 -14 lakh (ex-showroom, Delhi). It is powered by next-gen K-series 1.5L Dual Jet, Dual VVT engine with Smart Hybrid System. Maruti Suzuki claims fuel efficiency up 20.15 kmpl. It will be available in petrol powertrain only. Media sources indicate that the company has already received ~45,000 advance bookings for new Brezza

HDFC Ltd Chairman Deepak Parekh said that NIMs may see compression in the short term as it is unable to immediately pass on the impact of RBI's rate hike to borrowers. Parekh, however, exuded confidence that the spreads and margins which the corporation makes on loans sold will stabilise over the medium to long term.

The Maharashtra government's energy department on Tuesday signed a memorandum of understanding with Adani Green Energy Group (AGEL) to generate 11000 MW green power in the next five years. According to the agreement, AGEL will set up Pumped Storage Projects (PSP) in the next four to five years, through which about 11,000 MW power will be generated. It would entail an investment of Rs 60,000 crore

The start of operations at India’s third power exchange, Hindustan Power Exchange (HPX) looks imminent, with final approval from the Central Electricity Regulatory Commission (CERC) on June 27. CERC’s approval was under Regulation 28 of Central Electricity Regulatory Commission (Power Market) Regulations 2021 for approval of the technology to be used by the exchange

In a regulatory exchange filing Minda Industries has informed exchanges about acquisition of ~4.5 lakh shares i.e. 5.24% stake in FRIWO AG, Germany for a consideration of Euro 14.99 million (~Rs 125 crore)

The company has bought 1,57,000 tonnes of coal in Chinese Yuan from Russian producer at $25.81 million. (~$164 per tonne)

Airtel Payments Bank has partnered with Axis Bank, to digitise the cash collection system in India’s tier III cities and semi-urban regions. Airtel Payments Bank will leverage the extensive reach of its digital-led neighbourhood banking model to support Axis Bank with the digitisation of last-mile cash collections

MoRTH has sought fresh approval from Sebi to operationalise a new plan for the monetisation of assets under it. The ministry wants all future operational road projects to be offered under the bidding route to InvITs to ascertain proper valuations and get better returns. Under the auction, all InVITs could ascribe their valuation for NHAI’s assets. A project will be awarded to the best quote rather than NHAI InvIT getting the road projects on nomination at a mutually agreed price

In a regulatory exchange filing, Tata Motors (TML) informed exchanges about a price hike to the tune of 1.5-2.5% to be taken in the CV space from July 1, 2022 primarily to mitigate rising input cost

As per media reports, Reliance Retail, Thailand’s largest conglomerate Charoen Pokphand (CP) Group, and food and grocery online delivery platform Swiggy are in the race along with other private equity backed entities to buy the Indian cash-and-carry operations of German retailer ‘Metro’ AG. It is expecting valuations in the range of US$ 1.5-1.7 billion (~1.8x EV/Sales)

The government has selected 15 new companies for the second round of white goods PLI (AC/LED lights) PLI with committed investment of Rs 1368 crore

According to Times of India, the Government Of India may deregulate domestic crude oil. Currently, the government decides which PSU refinery gets how much crude from each producer. The price is then calculated based on a formula with Brent oil as a marker

As per media sources, steelmakers are expected to cut production next month by advancing annual maintenance shutdowns to regulate inventory, amid a fall in domestic demand and due to the new export duty that has made international sales unviable

Allied Blenders and Distillers has filed the draft prospectus for an initial public offering to raise Rs 2000 crore. The company will sell new shares of up to Rs 1000 crore while promoters and some shareholders will sell existing shares in an offer for sale (OFS) of another Rs1000 crore. Its 9MFY22 revenue, PAT was at Rs 5445 crore, Rs 3 crore, respectively, with market share of 8.2% by sales volume

In a regulatory exchange filing Bajaj Auto informed about approval buyback of share amounting to Rs 2,500 crore (~9-10% of its last reported net-worth) at a maximum buy-back price of Rs 4,600/share through open market route. The company intends to acquire a minimum of ~2% of its existing outstanding shares

M&M unveiled its next Gen Scorpio N with booking starting from July 30, 2022 and would be available at attractive price starting from Rs 12 - 19.5 lakh (ex-showroom, manual transmission) with features like six air bags, ESC, ABS, dual cameras, sunroof, 8-inch infotainment screen, dual zone climate control. It would be available in both petrol (2 litre turbo petrol generating 202 PS/370 NM torque) & diesel powertrain (2.2 litre diesel generating 175 PS/370 NM torque). The company incurred a capex of Rs 1,600 crore to develop this all new model (completely new slate), which also includes an assembly line dedicated for this at its Chakan plant

Hikal had filed a writ petition in the Bombay High Court against the MPCB closure direction for Taloja facility and the court, vide its order dated June 23,2022 has set aside the MPCB direction and directed MPCB to grant permission to Hikal, to restart manufacturing activities at the company's manufacturing unit at MIDC Taloja within a week from the date of the order

TTK Prestige has announced its foray into India’s Rs 9,500 crore modular kitchen market by entering into a strategic partnership with Chandigarh-based modular kitchen firm, Ultrafresh Modular Solutions

As per media sources, Pernod Richard 9MFY22 (ending March, 22) premium and premium plus segment has seen 20%+ growth, with imported scotch segment seeing 60%+ growth. The company expects the strong momentum in continue going forward (FY23)

Dr Reddy’s has acquired a portfolio of branded and generic injectable products from Eton Pharmaceuticals for an upfront payment of ~ US$5 million in cash, plus contingent payments of up to US$45 million. The portfolio includes the Biorphen Injection and Rezipres Injection NDAs with nine separate combinations of strengths and one first-to-file approved ANDA for Cysteine Hydrochloride for US

According to The Economic Times, the government plans to augment the medical infrastructures of 17 cities, which see an inflow of overseas patients for treatment and wellness therapies, in a bid to boost medical travel as part of its Heal in India initiative. Besides, the Health Ministry is working on easing medical visa norms and other requirements for patients and their companions from 44 countries identified based on the number of patients visiting India. 37 hospitals including 30 in the private sector across 17 cities have been identified for promoting medical value travel

As per media reports, Union Minister for Commerce and Industry and Textiles Piyush Goyal has said India is soon expected to finalise free trade agreements (FTAs) with Israel, Canada, the UK and the European Union

Reliance Infrastructure’s BSES Ltd has  issued a tender for  five million smart meter. The company issued a tender worth Rs 4,000 crore to procure smart meters. This is till date the largest tender that has been floated by any company

As per media reports, after a sharp rally in cotton prices, global cotton prices have declined significantly by  35% to $ 1 per pound (~Rs 170/kg) after hitting an 11-year high of $ 1.55 per pound (~Rs 270/kg) on March 2022. Also domestic cotton prices in India have declined from their all time highs of Rs 300 kg to Rs 250 kg but at a slower pace (down ~ 15%)

Maruti Suzuki has informed exchanges about collaborative partnership between Suzuki Motors and Toyota, wherein the two companies will now start production of a new SUV model developed by Suzuki at Toyota Kirloskar Motor Pvt Ltd (TKM) from August 2022. Maruti Suzuki and TKM will market the new model in India as Suzuki and Toyota models respectively. The powertrains of the new model will be equipped with mild hybrid technology developed by Suzuki and strong hybrid tech developed by Toyota

Dwarikesh Sugar has commissioned a 175 KLD distillery at its Faridpur unit in Bareilly.  After this capex, its total distillery capacity would reach 337.5 KLD (11 crore litre per annum)

The company has announced a fresh price hike across its product range up to Rs. 3,000/unit with effect from July 1, 2022. The company’s commentary suggest price hike is largely on account of commodity inflation led rise in key raw material prices

As per media sources, the Delhi government has announced a ban on entry of M&HCV trucks into the state during October 2022-February 2023 to curb pollution during winter

Accenture reported its Q3 numbers (August ending company). The overall revenue for the company grew 21.8% YoY to US$16.1 billion (bn) wherein outsourcing business , (proxy to Indian IT companies, 44% of revenue mix) grew 18.7% YoY to US$7.1 bn while consulting business grew 24.4% YoY to US$9.0 bn. New bookings (net new order book) were at US$7.8 bn for the quarter for outsourcing business, grew 6.7% YoY. The company’s net adds (billable) were at 10,000 for the quarter, taking its global billable headcount to 671,000. Geography wise, North America market ( 47% of revenue mix) continues to be the growth driver as it grew 22.8% YoY for the quarter while Europe and growth markets reported growth of 20.2% and 22.3% YoY, respectively. Utilisation declined 100 bps QoQ to 91% while attrition increased 200 bps QoQ to 20% for the quarter

In a media interaction, the CEO of Titan’s Taneira ethnic wear brand, Ambuj Narayan said that Taneira brand is eyeing multi-fold growth in revenues to Rs.  300 crore in FY23 and Rs.  1000 crore by FY27

Given the strong demand outlook of ATBS, Vinati Organics will be expanding ATBS capacity from 40000 MT to 60000 MT. This would entail a capex of Rs.  300 crore, which will be funded by internal accruals and is expected to get commissioned by December 2023. The capital expenditure in Veeral Organics Pvt Ltd (fully owned subsidiary of Vinati Organics) is in progress. The total capex is ~Rs.  280 crore and the products include 2000 MT of MEHQ & Guaiacol and 30000 MT of Iso Amylene. These products are used in polymerisation inhibitors, flavours, fragrances, pharmaceuticals and pesticides. The commissioning is expected by September 2023

Healthcare Global has entered into a business transfer agreement with Radiant Hospital Services for the acquisition of its radiation therapy centre, along with its assets in Sambalpur, Odisha for Rs.  16 crore. In addition, the company said that, 1) HCG is considering acquiring 51% stake in Nagpur Cancer Hospital and Research Institute (NCHRI), 2) HCG is setting up a 25 bed cancer care centre in Whitefield, Bangalore, likely to commence operations in two years, 3) The company is expanding the existing facility from 100 beds to 200 beds, by setting up a new facility in Ahmedabad, which is expected to be operational in FY24, and 4) HCG is considering strategic options in relation to developing the fertility clinic business

Global apparel brands are seeking discounts from Indian exporters as they seek to divert orders from Sri Lanka to de-risk supplies from disruptions amid the political and economic crisis in the island nation

In a relief for telecom operators, the Department of Telecommunications (DoT) has finally removed the 3% floor rate on spectrum usage charges (SUC), a move that would in the long run make such payments zero on their entire spectrum holding as telcos add new spectrum, which incrementally has zero SUC

India has emerged as the frontrunner for an export order from Malaysia for 18 light combat aircraft (LCA) given its low acquisition cost and high technical ratings. India has also offered maintenance, repair & overhaul work for their fleet of 18 Sukhoi-30 jets along with this fleet of Tejas LCA MK1A

As per media reports, limited availability of cotton has led to majority of ginning and pressing mills across India halting operations till fresh cotton crop arrives in the market in October this year

ITC’s first foreign venture in the hotel space – a premium and luxury mixed-use development – has been "adversely impacted” by Sri Lanka’s economic crisis, the firm said. The $300-million project under WelcomHotels Lanka Pvt Ltd (WLPL), a wholly-owned subsidiary of ITC, comprises a luxury hotel and a super-premium residential apartment complex on 5.86 acres of prime sea-facing land in Colombo

Australia's Queensland government has introduced new upper tiers to its coal royalty regime to earn additional revenue from higher prices from 1 July, 2022. The Australian government has set new progressive rates, effective July 1, at a 20% royalty on coal prices over A$ 175 a tonne, 30% for prices above A$ 225/tonne and 40% for prices over A$300/tonne. Previously the top tier was a 15% royalty on prices over A$ 150/tonne

Dr Reddy’s is looking to leverage Horizon 1 business growth levers and drive productivity to invest in Horizon 2 businesses. The management defined Horizon 1 as core drivers in short to medium term mainly comprising of 1) Generics, 2) API, 3) Branded Generics, 4) OTC and 5) Biosimilars while Horizon 2 as driver in short to long term mainly comprising of 1) Immuno-Oncology NCEs, 2) Biologics and CGT, 3) Nutraceuticals, 4) CDMO (small and large molecules), 5) Disease management, 6) D2C and 7) Digital services. Company aspires to 1) maintain double digit sales growth, 2) 25% EBITDA margin profile and 3) 25% RoCE, while keep investing in Horizon 2 opportunities for future

Reserve Bank of India (RBI) has extended the timeline for implementation of certain provisions of the master directions it issued on issuance of debit cards and credit cards by three months from July 1, 2022 to October 1, 2022

As per media report, the government is going all out to complete Geographic Information System (GIS) mapping of national highways for better planning, execution and monitoring of the road network and timely completion of projects. MoRTH has asked all its field units and state governments to complete the GIS mapping process of the national entire highway network by 31st July 2022

According to Businessline, Ikea India is planning to invest Rs.  3000 crore in the coming years and also aiming to increase its local sourcing from 27% to 50%

Australia's Queensland government has introduced new upper tiers to its coal royalty regime to earn additional revenue from higher prices from 1 July, 2022. The Australian government has set new progressive rates, effective July 1, at a 20% royalty on coal prices over A$ 175 a tonne, 30% for prices above A$ 225/tonne and 40% for prices over A$ 300/tonne. Previously the top tier was a 15% royalty on prices over A$ 150/tonne

Packaged consumer goods makers will not slash prices despite the correction in two crucial commodities - crude and palm oil - but will instead slow the pace of price increases. Palm oil is used in making products such as soaps, biscuits and noodles while crude is a key input for detergent and packaging, among others. Palm oil has dropped below $1,300 per metric tonne from highs of $1,800-1,900 while crude oil has retreated to less than $107 per barrel, down from a peak of about $130

As per media reports, ABFRL and designer Tarun Tahiliani plan to open 75 stores of men's ethnic wear brand Tasva by March 2023

KEC International has won new orders in the range of Rs.  1092 crore. Its transmission & distribution (T&D) business has secured orders for T&D projects in India, Middle East and Americas. In railways it has secured an order for 2 x 25 kV Overhead Electrification (OHE) & associated works for speed upgradation (Mission ‘Raftaar’) in India. In civil it has secured orders in the residential, industrial and defence segments in India, and In cables business it has secured orders for various types of cables in India and overseas