Talbros rises on new orders
- Automotive gaskets maker Talbros Automotive, along with its JV, has won multi-year orders worth ₹304 crore. The orders are spread over five years with a major portion distributed over 2023-25.
- The company plans to undertake a capex of about ₹20 crore which, along with existing facilities, would help it to successfully execute the order. Shares of the company gained 6.4% today and have gained nearly 65% in the year so far.
BEML divestment plans gather momentum
- The heavy-equipment maker is reportedly receiving interest from several players for acquiring the government’s 26% stake in the company. The optimism regarding the divestment plan is building in the stock price, which was locked at 20% upper circuit today.
- In Q3, BEML saw strong order inflow of ₹1,730 crore (up 49% YoY), with a total order book of ₹11,620 crore, which is nearly 4x its FY20 revenues.
Just Dial jumps on IPL ad agreement
- Shares of Just Dial hit their 10% upper circuit after the company announced an advertising agreement for the Indian Premier League (IPL) with Star India. The company will be a ‘co-presenting partner’ during IPL Season 14, which will be held in April-May.
- Earlier in February, Just Dial launched JD Mart, its B2B portal. Its shares have risen about 35% in March so far.
Tata Motors to hive off PV segment
- Shareholders of Tata Motors voted in favour of turning its domestic passenger-vehicle division into a separate entity. The company says that the move will help it provide differentiated focus to its PV and commercial-vehicle businesses.
- The PV segment is valued at ₹9,417 crore and the company expects to complete the hiving-off by May-June this year. Despite the news, the stock declined 1.1% today.