Sadbhav Infrastructure Project has been declared as the lowest bidder (L1) for HAM Project by NHAI on March 22, 2017. The project is for 4-laning of Waranga to Mahagaon (Pkg-I) from km. 253.700 to km. 320.580 section of NH-361 in the state of Maharashtra under NHDP Phase-IV. The construction period is 910 days from the appointed date. The operational period is for 15 years from commercial date of operations. The letter of award (LoA) shall be provided by NHAI within 60 days from the bid due date.
Dilip Buildcon has signed a Memorandum of Understanding (MoU) with Shrem Infraventure who will invest 49% of the equity share capital in the SPV to be incorporated for the Tuljapur - Ausa Road Project. The company will hold the remaining 51% stake in said SPV. Further, on completion of two years from the commercial operation date of the project, Shrem Infraventure will acquire 100% stake of the SPV i.e. 51% stake held by Dilip Buildcon will also be acquired by Shrem Infraventure and the company will hand over the project to Shrem Infraventure for operation.
Mahindra Retail (MRPL), an indirect subsidiary of Mahindra & Mahindra (M&M) has sold its entire shareholding (100%) in Mahindra Internet Commerce (MICPL). Hence, MICPL has ceased to be a subsidiary of MRPL and as such of the company. The share purchase agreement for the same was executed on March 22, 2017. The expected date for completion of sale is by April 5, 2017 and MRPL will receive consideration of Rs 14 lakh from sale of its 100% stake.
Som Distilleries & Breweries has started the supply of Black Fort Beer to Karnataka. The response from consumers and the trade is very encouraging. The company expects to get a considerable market share in the short term. Further, the company shall be launching out our mainline brands next month in Karnataka. Earlier in January, the company had introduced a new variant of White Fox Vodka Ready to Drink (RTD) in Cranberry flavour named as Cosmo Cranberry. The company had launched the same after the success of White Fox Vodka Ready to Drink (RTD) in Orange and Lemon Flavors.
Maruti Suzuki India has retained its leadership position in the domestic passenger vehicle market last month, with six of its models featuring in the top 10 selling brands. The company, which had five models in the top 10 selling passenger vehicles (PVs) list in February 2016, is driving towards a 50 percent market share in the segment. According to the latest data from the Society of Indian Automobile Manufacturers (SIAM), Maruti’s Alto retained the best-selling model tag last month with 19,524 units as against 21,286 in February 2016.
Two-wheeler auto-major TVS Motor Company would close financial year 2017 with a 14.3 per cent market share, close to its target of 15 per cent. The company also said it would be launching one new bike and scooter and that it had plans to invest Rs 350 crore in financial year 2018. The company’s current market share in scooters was close to 17 per cent in the third quarter of 2016-17 and it had around eight per cent market share in the motorcycle segment in the third quarter of 2016-17.