Here’s today business news, the latest business news India today 6 May 2022.
- Welspun Corp Ltd. has received an order of around 48000 MT from Indian Oil Corporation Limited to be executed in the current FY.
- Tata Motors aims to double the proportion of capital expenditure for electrifying the commercial vehicles segment.
- Around 15.5-gigawatts capacity of non-hydro renewable energy has been added by India during FY 2021-22, while only 7.7 gigawatts were added in the preceding FY.
- Mahindra & Mahindra has collaborated with J&K Bank for offering loans to its customers for tractors and farm machinery.
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- HDFC Bank has informed that over 1000 branches were added to its network over the past years.
- Central Bank of India plans to shut down around 13% of its loss-making branches to improvement in its financial health, which is under pressure for a few years.
- The Centre has invoked Section 11 of the Electricity Act and has mandated all imported coal-based projects should generate power at its full capacity.
- Bids have been invited by Indian Railways for the manufacturing and supply of 800 electric train engines for Rs 30,000 crore under a contract.
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- According to the Federation of Automobile Dealers Associations, the retail sales of automobiles have grown by 37% in India last month to around 16, 27,975 units.
- Wipro Ltd and HFCL Ltd. have tied up for the co-development of 5G transport products.
- A stake of 25% of Future Enterprises in the joint venture Future Generali India Insurance Company has been sold to Generali Participations Netherlands N.V. for ₹1,266.07 crore.
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