Bajaj Auto in focus on plan to expand 3-wheeler, quadricycle capacity

Bajaj Auto said it will shortly enhance its production capacities of 3 wheeler and quadricycles to 1 million per year as the government announces end to permits. The announcement was made after market hours yesterday, 6 September 2018.

This announcement came after Minister for Transport Nitin Gadkari announcing at the SIAM convention to move to a no-permit regime for auto rickshaws powered by alternate fuels. Bajaj Auto said that it is the market leader with 86% market share in the alternate fuel three-wheelers.

Housing Development Finance Corporation (HDFC) said it concluded the sale of 24,85,956 equity shares of Rs 10 each, representing 5.1% of the equity capital of CAMS to Great Terrain Investment, Mauritius at Rs 681.91 per equity share, aggregating to a consideration of Rs 169.52 crore. Post sale, HDFC will continue to hold 5.99% of the equity capital or CAMS. The announcement was made after market hours yesterday, 6 September 2018.

Welspun Corp said it has entered in to an agreement for supplying 220 KMT of pipes for oil & gas project in the American region. With this addition, the company's current order book stands at 1,776 KMTs valued at Rs 15000 crore. The announcement was made after market hours yesterday, 6 September 2018.

L&T Technology Services has executed a definitive agreement to acquire 100% stake in Bangalore-based Graphene Semiconductor Services (Graphene) by way of an all cash deal. The transaction is expected to be consummated by October 2018. Total deal value is Rs 93 crore to be paid in tranches. The announcement was made after market hours yesterday, 6 September 2018.

Graphene is one of the fastest growing companies in the Semiconductor Services domain with a presence in India, Singapore, Taiwan, and Malaysia. Counting 10 of the world's top semiconductor fabrication and fabless companies as its customers, Graphene provides end-to-end solutions right from chip design, embedded software, all the way through providing support to mass manufacturing, thereby being a one-stop service and solution provider. Graphene had revenues of Rs 66.30 crore for the year ended March 31, 2018.

Vijaya Bank announced increase in lending rates based on marginal cost of funds to be effective from today, 7 September 2018. The bank's Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.05%, for one month will be 8.15% and for three months will be 8.35%. The MCLR on 6-month loans will be 8.60% and for one-year loans the rate would be 8.70%, the bank said. The announcement was made after market hours yesterday, 6 September 2018.

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