March was a mixed-bag sales for auto cos

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⭐ March was a mixed-bag sales for auto cos

Maruti Suzuki’s domestic vehicle sales decreased by 0.6% YoY to 1.3 lakh units in March. The company said the shortage of electronic components impacted production. Meanwhile, Tata Motors’ domestic sales rose 3% YoY to 89,351 units. Company’s management expects demand for passenger vehicles to remain robust in future.

⭐ Adani Ports acquires new port

Adani Ports has completed the acquisition of Puducherry-based Karaikal Port after getting approval from National Company Law Tribunal (NCLT). The company paid ₹1485 crore for the deal. With this acquisition, the company has 14 operational ports in India.    

⭐ Godrej Properties buys new land 

The real estate developer has acquired a new land parcel in Pune. The company plans to develop a luxury housing project on this land. The project has a development potential of 7.5 lakh square feet with an estimated revenue potential of nearly ₹1,000 crore.

Global markets (at 8:00 AM today)

Fact of the day

India’s gross GST collection rose by 13% YoY to ₹1.6 lakh crore in March 2023.

Source: Economic Times