Latest business news India today, May 6, 2022

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Here is today’s business news, Latest business news India today 6th May 2022.

  • Welspun Corp Ltd. has received an order for around 48,000 tons from Indian Oil Corporation Limited, which is to be carried out in the current financial year.
  • Tata Motors is aiming to double the share of investments in the electrification of the commercial vehicle segment.

  • Around 15.5 GW of non-hydro renewable energy capacity was added by India in FY2021-22, while only 7.7 GW was added in the previous FY.
  • Mahindra & Mahindra has partnered with J&K Bank to offer tractor and agricultural machinery loans to their customers.

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  • HDFC Bank has announced that its network has expanded by over 1000 branches in recent years.
  • The Central Bank of India plans to close around 13% of its loss-making branches to improve its financial health, which has been under pressure for a number of years.
  • The center has relied on Section 11 of the Electricity Act, requiring all imported coal-based projects to generate electricity at full capacity.
  • Indian Railways has solicited bids under a contract to manufacture and supply 800 electric train motors at Rs 30,000 crore.

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  • According to the Federation of Automobile Dealers Associations, retail sales of automobiles in India rose 37% last month to around 16,27,975 units.
  • Wipro Ltd and HFCL Ltd. have joined forces to jointly develop 5G transportation products.
  • A 25% interest held by Future Enterprises in the joint venture Future Generali India Insurance Company was sold to Generali Participations Netherlands NV for ₹1,266.07 crore.

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