Date:05-Mar-2024  Time: 7:59 PM

Blue Star ( 04-Mar-24 )

Blue Star unveiled its new comprehensive range of Room ACs today, including a ‘best-in-class affordable' range and a ‘flagship premium' range, for the forthcoming summer season. Overall, the Company has launched over 100 models across the spectrum of inverter, fixed speed, and window ACs, and across price points to cater to every consumer segment.

The market for room ACs is witnessing significant demand owing to burgeoning middleclass consumers with higher disposable incomes and the category becoming more of a necessity than a luxury. The Company is experiencing demand from first-time buyers, especially in the Tier 2, 3 and 4 markets, as well as the replacement market.

Blue Star has launched a slew of products to cater to this growing demand, leveraging its manufacturing, R&D and innovation capabilities to roll out new, differentiated and best in-class ACs.

CG Power & Indu. ( 04-Mar-24 )

CG Power & Industrial Solutions has allotted 30,620 equity shares under ESOP on 04 March 2024. Consequently on allotment of the above equity shares, the paid-up equity share capital of the Company stands increased from Rs. 3,05,46,05,188 to Rs. 3,05,46,66,428 comprising of 1,52,73,33,214 equity shares of face value of Rs. 2/- each.

Sh. Digvijay Cem ( 04-Mar-24 )

The Board of Shree Digvijay Cement Co. at its meeting held on 04 March 2024 has approved the allotment of 6,36,500 equity shares under ESOP. Consequently, the paid up equity share capital has increased to Rs. 1,47,40,67,780 (14,74,06,778 Equity Shares of Rs. 10/- each).

Tata Motors ( 04-Mar-24 )

The Board of Directors of Tata Motors (TML), at its meeting today, has approved the proposal of demerger of Tata Motors into two separate listed companies housing A) the Commercial Vehicles business and its related investments in one entity and B) the Passenger Vehicles businesses including PV, EV, JLR and its related investments in another entity.

The demerger will be implemented through an NCLT scheme of arrangement and all shareholders of TML shall continue to have the identical shareholding in both the listed entities.

Over the past few years, the Commercial Vehicles (CV), Passenger Vehicles (PV+EV), and Jaguar Land Rover (JLR) businesses of Tata Motors have delivered a strong performance by successfully implementing distinct strategies. Since 2021, these businesses have been operating independently under their respective CEOs.

The demerger is a logical progression of the subsidiarisation of PV and EV businesses done earlier in 2022 and shall further empower the respective businesses to pursue their respective strategies to deliver higher growths with greater agility while reinforcing accountability. Furthermore, while there are limited synergies between Commercial Vehicles (CV) and Passenger Vehicles (PV) businesses, there are considerable synergies to be harnessed across PV, EV and JLR particularly in the areas of EVs, autonomous vehicles, and vehicle software which the demerger will help secure.

Keerthi Indus ( 04-Mar-24 )

Keerthi Industries will hold a meeting of the Board of Directors of the Company on 6 March 2024.

Swan Energy ( 04-Mar-24 )

Swan Energy announced that its subsidiary, Swan LNG (SLPL) has repaid entire loan of Rs 2206 crore along with interest to the consortium of banks.

With the prepayment, SLPL will save around Rs.250 crore in interest payment, which will strengthen Swan group's balance sheet leading to a possible upgrade and re-rating.

Post prepayment, SEL's debt has come down to Rs. 1675 crore. The external debt position of the group was ~Rs.4128 crore in September 2023, which reduced to ~Rs.3817 crore in December 2023. To facilitate the pre-payment, SEL has lent Rs.2210 crore to SLPL.

SEL has recently raised Rs. 3,000 crore through a Qualified Institutions Placement (QIP). The funds raised through the QIP will be strategically deployed towards the modernization of the recently acquired erstwhile Reliance Naval and Engineering (RNEL) shipyard at Pipavav. Additionally, a portion of the funds will be allocated for project expansion and debt reduction.

Bodal Chemicals ( 04-Mar-24 )

Bodal Chemicals will hold a meeting of the Board of Directors of the Company on 6 March 2024.

Univa Foods ( 04-Mar-24 )

Univa Foods will hold a meeting of the Board of Directors of the Company on 11 March 2024.

Source:Capital Market
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