Trackpad

Tata Motors’s subsidiary Jaguar Land Rover reports positive sales for Q2FY21

Tata Motor’s wholly-owned subsidiary, Jaguar Land Rover (UK) reported strong growth in its net sales for Q2FY21. Jaguar Land Rover (JLR) reported a significant improvement in its net sales for Q2FY21 compared to the COVID-19 affected Q1FY21 and Q4FY20. Retail sales were up by more than 50 per cent to 1,13,569 units in Q1FY21 compared to 74,067 units in Q2FY21 but compared to Q2FY20, the net sales lagged by 11.9 per cent. The boost in the net sales was led by strong growth of 14.6 per cent QoQ in the Chinese markets. Sales in China in the month of September alone were up by 28.5 per cent YoY.

It also stated that as a result of the increasing demand, the majority of Jaguar Land Rover’s retailers worldwide are now open or are partially open. The company’s plants have resumed production while vehicle manufacturing plants at Solihull (UK), Halewood (UK) and Nitra (Slovakia), and Engine Manufacturing Centre (UK), now have increased to a two-shift pattern. Expanding its portfolio, the sales for the company’s newest launch, Land Rover Defender continued to gain pace with 4,508 units being sold in September. Additionally, to meet the growing demand for electrification, it continues to roll-out products in the respective categories. For its compact category of cars, Tata Motors posted a 141.80 per cent growth in its domestic sales to 34,847 units in Q2FY21 compared to 14,411 units in Q2FY20 while the production for the same range of cars during Q2FY21 doubled on a YoY basis. 

SJVN sets target of 5,000 MW by 2023; signs MoU to extend support

The state-owned electricity generation company, SJVN Ltd, entered into a significant MoU, wherein the company has a Capex target of Rs 2,800 crore for the current fiscal year. The data released by the Ministry of Power stated that as per the targets set in MoU, SJVN Ltd would require to achieve 9,680 million units (MUs) of electricity generation. The capital expenditure (Capex) target is set at Rs 2,880 crore during the current year while the turnover target is set at Rs 2,800 crore.

The company has an installed capacity of 2,016 MW, which it reported as of the end of FY20. Recently, SJVN has also bagged two major solar projects of 100 MW capacity at Dholera Solar Power Project and 100 MW Raghanesda Solar Power Project at tariffs of Rs 2.80 per unit along with Rs 2.73 per unit, respectively from Gujarat Urja Vikas Nigam Limited (GUVNL). Commenting on the current status of its operational work in hand, the management added that the company is implementing thirteen hydro projects in Himachal Pradesh, Uttarakhand, Nepal & Bhutan. Further, the company is also implementing the 1,320 MW Buxar Thermal Power Project in Bihar. It further said that SJVN is pursuing power projects in India and in neighbouring countries. For this, the company is also in talks with the Government of Nepal and the Government of Arunachal Pradesh to tap hydro potential in their territories.

Due to the large Capex plans and positive demand forecast, the company is confident of achieving the installed capacity of 5,000 MW by 2023, 12,000 MW by 2030, and 25,000 MW by the year 2040.

NHAI appoints date for KNR Construction’s subsidiary

KNR Constructions Limited’s wholly-owned subsidiary, KNR Palani Infra Private Limited received the appointed date i.e. October 5, 2020, by National Highways Authority of India (NHAI).

The project involves four laning of the Oddanchatram-Madathukulam section of NH-209 in the state of Tamil Nadu. The bid project cost is Rs 9,200 million with a concession period of 17 years including a construction period of 2 years from the appointed date.

The company provides engineering, procurement, and construction (EPC) services across various fast-growing sectors namely roads & highways, irrigation, and urban water infrastructure management. Its core strength primarily is in road transportation engineering projects namely construction and maintenance of roads, highways, flyovers, and bridges wherever integral to the projects undertaken.