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Buzzing Stocks: Eicher, Tata Motors, Oil India, Lemon Tree Hotels, Cipla, others in news.
Royal Enfield: The company has signed a non-binding MoU with the Tamil Nadu government to invest Rs 3,000 crore over the next 8 years to build greenfield and brownfield projects in the state as part of the Tamil Nadu Global Investors Meet 2024 in Chennai.
Tata Motors: Subsidiary Jaguar Land Rover (JLR) announced 27 percent YoY growth in Q3 sales to 101,043 units. YTD wholesales for FY24 were 291,113 units, up 28 percent year-on-year. Retail sales went up 29 percent to 109,140.
Bajaj Auto: The board of directors approved the proposal to buyback shares worth Rs 4000 crore. The company will buy back 40 lakh equity shares at an average price of Rs 10,000 per share.
Cipla: The company announced a joint venture in the US with Kemwell Biopharma and Manipal Education & Medical Group to develop and commercialize novel cell therapy products for unmet medical needs in the US, Japan, and EU.
Aurobindo Pharma: The company announced it received the establishment inspection report from the US FDA for its Telangana unit. The report classified the facility as “Voluntary Action Indicated.”.
Oil India: The company signed a Joint Venture Agreement (JVA) with Assam Power Generation Corporation to work together in the renewable and green energy business. The company will join hands with the public sector company to achieve maximum renewable power generation in the state.
Lemon Tree Hotels: The company has signed a new hotel in Meerut, Uttar Pradesh. The hotel will be open in FY25 and will be franchised by the company. The hotel will have 75 rooms.
BEML: The company bagged a Rs 329.87 crore order from the Ministry of Defense to supply a Mechanical Minefield Marking Equipment Mark-II.
Brigade Enterprises: The company signed MoUs worth Rs 3400 crore with the Tamil Nadu government to develop projects in the next 3–4 years as part of the Tamil Nadu Global Investors Meet 2024 in Chennai. The company signed MoUs with the Chennai Metropolitan Development Authority (CMDA) and ELCOT, Information Technology and Digital Services Department.
IRM Energy: The company signed a MoU with the Tamil Nadu government to invest Rs 858 crore in a project in the state over the next 5 years as part of the Tamil Nadu Global Investors Meet 2024 in Chennai. The projects will provide employment to 2200 people in the state.
