UltraTech commissions new capacities

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⭐ UltraTech ups cement production capacity

UltraTech Cement has added a 1.8 mtpa greenfield grinding capacity in Maharashtra and 1.8 mpta cement clinker capacity at its Madhya Pradesh plant. With this, the total cement manufacturing capacity of the company now stands at 119.4 mtpa. The company had first announced capacity expansion plans in December 2020. 

⭐ Easemytrip to add air charter services

Online travel service provider, Easy Trip Planners will acquire a majority stake in Nutana Aviation. The company offers charter aircraft leasing solutions. Easy Trip Planners will acquire a 75% stake in the company for ₹1.5 crore. As per the company, the acquisition will add a new revenue vertical and enable it to scale up its business for renting and booking charter aircraft. Easy Trip Planners owns the brand, Ease My Trip. 

⭐ SJVN bags solar project 

SJVN Green Energy, a wholly owned subsidiary of state-owned SJVN, has bagged a 200 MW solar power project from Maharashtra State Electricity Board. The project will be executed on a build, own, and operate (BOO) mechanism at a tentative cost of ₹1200 crore. Currently, the company has a renewable energy portfolio of 4320 MW, out of which 179 MW is under operation, and the remaining is under various stages of construction.

Global markets (at 7:30 AM today)

Fact of the day

Tata Play, a Tata Group company has filed draft papers for the IPO. After TCS’ listing in 2004, this will be the first IPO from the Tata Group.

Source: Times of India