The central agency has been waiting for approval since March 2022
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Domestic commercial vehicle sales volume likely to grow by 9-11% in FY24 (13-02-2023)
Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday.
Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said.
This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.
Of the total domestic CV sales, the light commercial vehicle (LCV) segment may grow 8-10 per cent while the medium and heavy commercial vehicle (MHCV) sale is expected to register a higher growth of 13-15 per cent in FY24, it said.
With strong demand prospects, we expect LCV sale volumes to grow 8-10 per cent next fiscal, and cross pre-pandemic (fiscal 2019) sale volumes. MHCV sale volumes will continue to grow faster than LCVs at 13-15 per cent next fiscal, but are expected to exceed pre-pandemic sale volumes in fiscal 2025, said Anuj
Brokerages downgrade Lupin post weak Q3; see up to 17% downside (13-02-2023)
Lupin shares fell 7.5 per cent to Rs 681 apiece on the BSE in the intra-day trade
Natco Pharma jumps 4% on filing generic version of oncology drug in US (13-02-2023)
The drug major filed an abbreviated new drug application (ANDA) for generic versions of Olaparib tablets – 100 mg and 150 mg with the US Food and Drug Administration (USFDA)
Info Edge slumps 10% on Rs 116 cr Q3 loss; writes-off invst in 4B Network (13-02-2023)
The losses in the recent quarter mainly accrued as the company wrote off its investment in property tech start-up 4B Networks. It had invested Rs 276 crore in the start-up as of September 2022
City Union Bank shares crash 13.5% after Q3 earnings dip on quarterly basis (13-02-2023)
According to analysts, CUB’s results had several areas of weakness this quarter
Balkrishna Industries tanks over 11% as Q3 profit plunges 68% YoY (13-02-2023)
Its revenue from operations increased marginally by around 6 per cent to Rs 2,165.57 crore in Q3
Sebi to update FM Sitharaman on Adani probe this week, says report (13-02-2023)
India’s market regulator will provide an update on its investigations into the Adani Group’s withdrawn follow-on public issue this week, two sources familiar with the matter said on Monday.
Oil India hits 8-month high on highest-ever quarterly profit in Q3FY23 (13-02-2023)
In the past six months, Oil India soared 26 per cent, as against 3 per cent rise in the S&P BSE Sensex
Coforge slides 7% as over 7 million equity shares change hands on bourses (13-02-2023)
According to reports, Barings Private Equity was looking to sell part of its 40 per cent stake in Coforge via block deals