MG Motor India has collaborated with CleanMax to become the first passenger car company to adopt wind-solar hybrid energy, a statement said on Thursday.

Under the collaboration, Clean Max Enviro Energy Solutions (CleanMax) will supply 4.85 MW of wind-solar hybrid power to MG Motor's manufacturing facility in Halol.

Business conglomerate Shapoorji Pallonji's housing platform Joyville has clocked nearly three-fold jump in its sales booking at Rs 450 crore during the first half of this fiscal year on strong demand for mid-income residential properties, a top company official said.

Joyville, which is a Rs 1,240 crore platform established by Shapoorji Pallonji, ADB, IFC and Actis, had sold properties worth Rs 160 crore in the corresponding period of the last fiscal year.

Reliance Industries’ (RIL) hiving off its Jamnagar gasification project into a wholly-owned subsidiary is a step towards its plans to grow in the hydrogen space.

This gasification project at Jamnagar was set up to produce syngas to meet the energy requirements of RIL’s crude oil refinery. It, however, could be monetised for expanding the company’s new energy business.

Diversified entity ITC on Thursday confirmed that it is developing a nasal spray for COVID-19 prevention for which it has initiated clinical trials.

Developed by scientists at ITC Life Sciences and Technology Centre (LSTC), Bengaluru, the company plans to market the nasal spray under the Savlon brand once it gets all the requisite regulatory approvals, according to sources.

India reported 9,119 fresh Covid cases in the last 24 hours, as per Ministry of Health and Family Welfare on Thursday.

Also, as many as 396 fatalities were registered pushing the toll to 4,66,980, it said.

The recovery of 10,264 patients during the same period has increased the cumulative tally to 3,39,67,962. Consequently, the recovery rate stands at 98.33 per cent, highest since March 2020.

Shares of Reliance Industries (RIL) were up 3.4 per cent at Rs 2,431.80 on the BSE in Thursday’s intra-day trade after the company’s board decided to implement a scheme of arrangement to transfer gasification undertaking into a wholly-owned subsidiary (WOS). RIL made the announcements on Wednesday after market hours.

The board has approved a scheme as a going concern on slump sale basis for a lump sum consideration equal to the carrying value as on the appointed date i.e. March 31, 2022.

Shares of IndusInd Bank continued trading lower for the fifth straight day, hitting a six-month low of Rs 956.10, down nearly 2 per cent on the BSE in Thursday’s intra-day trade. In the past three weeks, the stock of private sector lender has fallen 20 per cent despite the bank management strongly refuting allegations around the evergreening of loans, citing media reports as "inaccurate and baseless".

The stock was trading at its lowest level since May 17, 2021. It had hit a 52-week high of Rs 1,241.85 on October 28, 2021.

Shares of Siemens dipped 8 per cent to Rs 2,099 on the BSE in Thursday’s intra-day trade on profit booking after the company reported 250 basis points (bps) decline in earnings before interest, taxes, depreciation, and amortization (ebitda) margin of 10.4 per cent in September quarter (Q4FY21) as against 12.9 per cent in Q4FY20 impacted by higher other expenses, gross margins.

The company has recommended a dividend of Rs 8 per equity share of Rs 2 each (400 per cent) for the Financial Year ended September 30, 2021.

The Indian rupee depreciated by 15 paise to 74.55 against the US dollar in opening trade on Thursday, as a muted trend in domestic equities and a firm American currency weighed on investor sentiment.

At the interbank foreign exchange, the rupee opened on a weak note at 74.55, registering a decline of 15 paise from the last close.

Delhi’s air was polluted Thursday morning a day after the Supreme Court asked the central and state governments to continue with measures to reduce the smog that has lasted for weeks now.

The national capital's Air Quality Index (AQI) was 339 --'very poor'-- at 8 am, according to the state-run System of Air Quality and Weather Forecasting And Research (SAFAR). Readings below 50 are considered safe, while anything above 300 is considered hazardous or 'severe'.

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