BHEL, Maruti Suzuki, L&T, RIL, Shoppers Stop

Aviation stocks: Indian airlines are expected to report a combined net loss of ₹250-260 billion in FY2022, and would require additional ₹450-470 billion between FY2022 and FY2024 to sustain operations, credit rating agency Icra said in a statement on Tuesday.

BHEL: The state-owned entity has secured its largest ever order worth ₹10,800 crore from NPCIL for EPC of Turbine Island for 6 units of 700 MWe.

EV suppliers: Electric cars from Tesla Inc. may soon be on Indian roads, with the Union transport ministry approving four of its models for introduction in the country. The ministry’s Vahan portal, however, did not identify the models that received the nod. All automobile manufacturers, both Indian and foreign, need to get their vehicles locally certified before a formal launch.

Larsen & Toubro: India’s largest engineering company, plans to sell its non-core assets – 1400 megawatt (MW) Nabha thermal power project in Punjab, the Hyderabad Metro, and L&T Infrastructure Development Projects Ltd (L&T IDPL), the subsidiary having road projects and power transmission lines, the company said in a statement on Tuesday.

Maruti Suzuki: The country’s top car maker expects production at its plants in the states of Haryana and Gujarat to be impacted next month due to a shortage of semiconductors, it informed on Tuesday. The total production volume across both Haryana and Gujarat could be around 40% of normal output, Maruti Suzuki said in a regulatory filing.

Reliance Industries: The oil to telecom conglomerate plans to acquire REC Group, Europe’s largest solar panel maker, from state-run China National Chemical Corp (ChemChina) for a tentative consideration of $1-1.2 billion, according to media reports.

Shoppers Stop: The company, which runs a chain of departmental stores, is selling its controlling stake in Crossword Bookstores to the owners of Agarwal Business House (ABH) for approximately ₹41.6 crore, as it seeks to focus on its core business, the company said on Tuesday.

Telecom stocks: The Telecom Regulatory Authority of India (Trai) has recommended a slew of measures, including up to ₹200 cashback on charges to a user and fixing minimum broadband speed at 2 megabit per second, to promote internet connectivity and increase connection speed.

Videocon group: The Mumbai bench of the National Company Law Tribunal (NCLT) on Tuesday ordered the group’s bank accounts frozen and properties attached following a petition by the ministry of corporate affairs.

Wipro: The IT major has partnered with HERE Technologies, a location data and technology platform, to offer location-based services to customers from energy & utilities, manufacturing, transport & logistics, telecom, and automotive industry verticals.