CG Power: CG Power Surges 12% on Semiconductor Facility JV
CG Power company signed agreement with Renesas Japan Semiconductor company and star micro electronics semiconductor for production of Semiconductor facility in India.
CG POWER and INDUS Market Price is moving in Ascending channel and market has reached higher high area of the channel
CG Power Surges 12% on Semiconductor JV with Renesas and Stars Microelectronics
CG Power and Industrial Solutions Limited witnessed a 12% surge in shares to Rs 495 on March 1 morning trade following the announcement of a joint venture (JV) agreement with Renesas Microelectronics and Stars Microelectronics. The JV aims to establish an outsourced semiconductor assembly and test facility in Sanand, Gujarat, with a planned investment of Rs 7,600 crore over five years. CG will hold 92.3% ownership in the JV, while Renesas and Stars Microelectronics will have equity stakes of approximately 6.8% and 0.9%, respectively. The facility’s production capacity is set to reach 15 million units per day, serving industries such as automotive, consumer, industrial, and 5G. S Velleyan, the managing director of CG, highlighted the strategic diversification and commitment to building India’s semiconductor capability and ecosystem.
LT: “L&T Up 2% as First Hydrogen Electrolyser Operational in Gujarat”
LT announced they are going to setup the plant of Hydrogen Electrolyser in Gujarat. Domestic Electrolyser of Hydrogen power will come soon for compensating current Fossil Fuels and decarbonisation goal.
LARSEN and TOUBRO Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel
L&T Surges 2% as it Unveils First Hydrogen Electrolyser in Gujarat
Larsen and Toubro (L&T) saw a 2% increase to Rs 3,536 in early March 1 trade after inaugurating its maiden domestically produced hydrogen electrolyser at the Hazira green hydrogen plant in Gujarat. This marks L&T Electrolysers Limited’s foray into domestic electrolyser manufacturing, enhancing its position as a global player in the clean energy sector. The 1 MW electrolyser, expandable to 2 MW, can produce 200 Nm3/Hr of hydrogen, featuring advanced flexibility and thermal stability.
L&T Electrolysers, a newly formed entity, sources technology from McPhy Energy in France and plans to meet the rising demand for green hydrogen through its Hazira facility, with a significant 300 MW/annum capacity allocated under the National Green Hydrogen Mission’s Production Linked Incentive (PLI).
Lemon Tree Hotels: “Lemon Tree Hotels Up 2% with New Rajasthan Hotel Opening”
Lemon Tree hotels opened 7th resort in Rajastan and 8th resort will be opened in Gujarat by 2025.
LEMON TREE HOTELS Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel
Lemon Tree Hotels Shares Rise 2% with New Rajasthan Resort Opening
Lemon Tree Hotels witnessed a 2% increase in share price on March 1 as it inaugurated its seventh Lemon Tree Resort in Kumbhalgarh, Rajasthan. The resort offers 59 rooms & suites, a multi-cuisine coffee shop, banquet spaces, a swimming pool, Slounge recreation bar, and a fully equipped fitness center. Additionally, the hotel chain announced a new property in Vadodara, Gujarat, slated to open in FY25, managed by Carnation Hotels Private Limited.
The Vadodara property will feature 63 well-appointed rooms, a restaurant, a banquet hall, and a meeting room. The company also secured license agreements for resorts in Sankhwas Garh, Rajasthan, Keys Lite in Vijayawada, a hotel in Noida, and a property in Marpalle, Telangana. In the December quarter, the company reported an 11.5% decline in net profit to Rs 35.40 crore.
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