Yesterday’s Indian business news included a huge order for L&T, and a third Maruti plant in Haryana.
Ferrari’s first maintenance center in Bengaluru
Italian luxury sports car company ‘Ferrari’ has set up its first car maintenance service center in India in the Meena Kunde area of Bengaluru.
It is operated by ‘Select Cars’, which imports and sells Ferrari cars in India. Its sales center is located in Delhi. The company has opened this car maintenance service center after completing 10 years as a Ferrari dealer.
The car maintenance staff working here are certified by Ferrari. The center has been specially designed to provide a luxurious experience to customers. The ‘360 Degree Car Care’ program has been introduced for complete car maintenance.
Agarbatti, Perfume Expo to be held in Delhi on May 17-18
200 companies are expected to participate in the 10th International Agarbatti and Perfume Expo to be held in Delhi in May.
The event organizers said that 10,000 people from 10 countries will visit the exhibition to be held at ‘Yesha’ Bhoomi’ for two days on May 17 and 18.
A large number of MSMEs, B2B traders and foreign trade representatives are expected to participate in the exhibition. The Indian perfume industry has been growing well in recent times and the annual market value is between Rs 10,000 crore and Rs 12,000 crore.
The Indian agarbatti manufacturing industry is growing at a rate of 8.60% per year.
L&T wins Rs 15,000 crore mega order
New Delhi, March-L&T has bagged its largest overseas order worth Rs 15,000 crore from Qatar Energy. The order will include engineering, procurement, manufacturing, installation and commissioning of two power generation projects on the northeastern coast of Qatar.
The order, which has been bagged by L&T’s Energy Hydrocarbons, will help strengthen the company’s energy business, L&T Chairman Subramanian said.
Maruti Suzuki’s 3rd plant at Rs 7,410 crore
Maruti Suzuki’s board of directors has approved the establishment of a third car manufacturing plant in Khargoda, Haryana, at an investment of Rs 7,410 crore.
Leading car manufacturer Maruti Suzuki already has a plant in Khargoda, Haryana, with a capacity to produce 2.5 lakh cars per annum.
Construction work is currently underway for a second plant with a capacity to produce 2.5 lakh cars.
In this context, due to the increasing demand not only for the domestic market but also for exports, Maruti Suzuki’s board of directors has approved the establishment of a new plant in Khargoda with an investment of Rs 7,410 crore, with a capacity to produce 2.5 lakh cars per annum.
SEBI has put WeWork’s IPO on hold
SEBI has put on hold the approval process for the IPO of WeWork India, an office sharing service in major cities of the country.
WeWork India, owned by real estate business Embassy Group, earns revenue by renting out over 65 offices to companies in 8 cities, including Bengaluru.
The company had applied for permission to issue fresh shares on January 31. In it, it had said that it would sell 4.37 crore shares already held by investors through the IPO.
In this situation, SEBI said on its website that WeWork India has put on hold the IPO without giving any reason.
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