Tata Motors Group global wholesales, including Jaguar Land Rover (JLR), rose 18% to 153,156 units in March 2018 over March 2017. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 33% to 56,399 units in March 2018 over March 2017. Global wholesales of all passenger vehicles rose 11% to 96,757 units in March 2018 over March 2017. The announcement was made after market hours yesterday, 11 April 2018.
In line with the efforts to indigenise the defence sector under 'Make in India' initiative, Larsen & Toubro (L&T) and Bharat Electronics (BEL) have signed a Memorandum of Understanding (MoU) to cater to the needs of evolving domestic and export markets for defence products and systems. The MoU seeks to leverage the capabilities of both the firms for meeting the growing requirements of the Indian Armed Forces. The MoU also intends to leverage the welldeveloped supply chain, vast experience and expertise of BEL and L&T to synergise and enhance exports in the defence sector. The announcement was made after market hours yesterday, 11 April 2018.
Mylan and Biocon have agreed to accelerate introduction of adalimumab biosimilar in Europe through Mylan's in-licensing arrangement with Fujifilm Kyowa Kirin Biologics (FKB). FKB's product is at an advanced stage of review and could potentially obtain approval in Europe in the second half of 2018. Through this arrangement, Mylan could commercialize FKB's Adalimumab in EU around market formation. Biocon retains its economic interest in this arrangement vis-a-vis Mylan in line with its existing global collaboration with Mylan for monoclonal antibodies. The announcement was made after market hours yesterday, 11 April 2018.
Indian Oil Corporation (IOC) along with BPCL and HPCL incorporated a joint venture company named Ratnagiri Refinery & Petrochemicals (RRPCL) with equity holding of 50:25:25 to jointly develop and build an integrated refinery and petrochemicals complex at Ratnagiri in Maharashtra. The announcement was made after market hours yesterday, 11 April 2018.
BPCL, IOC, and HPCL signed a memorandum of understanding (MOU) with Saudi Aramco, a leading global integrated energy and chemicals company in the Kingdom of Saudi Arabia, to jointly develop and build the said project. The partnership would bring together the crude supply, resources, technologies, experiences, and expertise of these multiple oil companies with an established commercial presence around the world. Saudi Aramco may also bring in a strategic partner to co-invest in the project.
The Indian Energy Exchange (IEX) and Japan Electric Power Exchange (JEPX) have entered into a Memorandum of Understanding (MoU) on 28 March 2018 for jointly exploring the opportunities of cooperation in electricity market. The intent of the MoU is to share experience and cooperate with each other in respect of technology and in energy market products development. The scope of MoU includes opportunities for training to augment the electricity trading through competitive market platforms by organizing knowledge sharing programs. This collaboration would be beneficial for both the exchanges and for the larger good of the power markets in India and Japan. The announcement was made after market hours yesterday, 11 April 2018.
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