JSW Steel to Invest $1.2 billion to Cut Carbon Emissions - Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

JSW Steel to invest $1.2 billion to cut carbon emissions

JSW Steel Ltd will collaborate with Germany-based SMS Group and invest $1.26 billion (~₹10,010 crore) to cut down carbon emissions at its manufacturing plants. SMS group will provide its technology experts, design, and engineering consultancy to execute various projects for decarbonisation. JSW Steel aims to bring down greenhouse gas emissions by 42% to less than 1.95 tonnes of carbon dioxide per tonne of crude steel by 2030.

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Reliance Jio gets approval from DoT to launch satellite-based broadband services

Reliance Jio Infocomm has reportedly received approval from the Department of Telecommunications (DoT) to offer global mobile personal communication by satellite (GMPCS) services in India. The telecom major can now provide GMPCS services, including voice and data services, through satellite in permitted service areas. The license is granted for 20 years. 

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Aurionpro launches digital transformation platform ‘Aurobees’ for SMEs

Aurionpro Solutions Ltd announced the launch of ‘Aurobees’, a comprehensive digitalization, fulfillment, and finance platform that assists small & medium-sized organisations (SMEs). The platform helps SMEs to smoothly take their enterprises online by supporting digital presence. It is a highly scalable solution for digitization and fulfillment across the manufacturing, trade, distribution, freight forwarding, warehousing, transportation, and e-commerce industries.

Zydus Lifesciences gets USFDA approval for Lenalidomide capsules

Zydus Lifesciences Ltd has received approval from the US Food & Drug Administration (USFDA) to market Lenalidomide capsules. The drug is used to treat various types of cancers by slowing or stopping the growth of cancer cells. As per IQVIA MAT data, Lenalidomide had annual sales of $2.86 billion in the US during the 12 months ended July 2022.

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Retailers report 15% growth in sales in August: RAI

According to a survey by the Retailers Association of India (RAI), retail businesses across India reported a growth of 15% in sales when compared to pre-pandemic levels (August 2019). “Most items have witnessed inflation. Retailers are indicating that higher price items are selling well, and lower price items are not seeing as much growth,” said Kumar Rajagopalan, CEO of RAI.

Sales across categories showed steady growth in August 2022, with sports goods indicating a strong performance. Footwear, quick service restaurants (QSR), and jewellery also performed better than other categories last month.

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Bajaj Holdings announces interim dividend of ₹110 for FY23

Bajaj Holdings Ltd announced an interim dividend for the current financial year (FY23). The company’s board declared an interim dividend of ₹110 per equity share of the face value of ₹10 for the financial year ending March 31, 2023. Bajaj Holdings has fixed Sept 23 as the record date. The interim dividend will be credited on or around October 10, 2022.

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Infosys partners with Bpost to improve security for postal services experiences

Infosys Ltd has partnered with Bpost (Belgium Post) to secure the cloud environment and build robust cyber resilience for mail delivery and logistics services. Bpost is a leading postal operator and omni-commerce logistics partner in Europe. Infosys and Palo Alto Networks (a global cybersecurity leader) have equipped Bpost with solutions to identify and rapidly respond to suspicious security events.

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KEC International secures new orders worth ₹1,108 crore

KEC International Ltd has secured new orders worth ₹1,108 crore across its various businesses in India. The company’s transmission and distribution (T&D) business has received orders for T&D and cabling projects in India, the Middle East, and Africa. Its oil and gas pipelines business has secured an order for laying cross-country pipelines and associated works in India.

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Vedanta, Foxconn to set up semiconductor plant in Gujarat

Mining conglomerate Vedanta Ltd and Taiwanese electronics manufacturing giant Foxconn will make an investment of ₹1.54 lakh crore to set up India's first semiconductor plant in Gujarat. The 60:40 joint venture of Vedanta-Foxconn will establish a semiconductor fab unit, a display fab unit, and a semiconductor assembling, testing unit on a 1000-acre land in Ahmedabad district.

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