Hero MotoCorp: Hero MotoCorp is set to commence its operations in the Philippines. Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, one of the leading and most experienced automotive group is partnering with Hero MotoCorp in bringing its globally popular motorcycles to the country. As part of the partnership, TMC will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in Philippines.
Mahindra & Mahindra (M&M): M&M informed that Mahindra Electric Automobile Limited (MEAL) has been incorporated in Mumbai on 25 October 2022 as a wholly owned subsidiary of the company to undertake the four wheel passenger electric vehicles business of the company.
Dabur India: Dabur India announced that it has signed definitive transaction agreements to acquire 51% shareholding of Badshah Masala Private Limited, which is engaged in the business of manufacturing, marketing and export of ground spices, blended spices and seasonings. Dabur is acquiring 51% stake in Badshah for Rs 587.52 crore, less proportionate debt as on the closing date, with the Badshah enterprise being valued at Rs 1,152 crore.
Dabur India reported consolidated net profit of Rs 490.86 crore for the second quarter ended September 30 from Rs 505.31 crore reported in Q2FY22. Total income rose to Rs 3109.77 crore during Q2FY23 against Rs 2930.02 crore recorded in Q2FY22.
Glenmark Pharmaceuticals: The USFDA has issued an import alert for Glenmark Pharma's manufacturing plant at Baddi.
Trident: The textile company said it has completed a solar power project of 8.87 MWp at Budhni in Madhya Pradesh. The power generated from this new solar power project shall be consumed captively in manufacturing facilities located at Budhni resulting in considerable savings for the company.
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