Automobile majors such as Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Ashok Leyland, Escorts, Bajaj Auto, TVS Motor, Hero MotoCorp and others will announce their sales figures for January from today. Most analysts expect a better sales figutes from auto majors.
Tata Motors on Tuesday said it has raised the second and final tranche of ₹3,750 crore from TPG Rise Climate as per an agreement inked in 2021. Tata Motors, In October 2021, had announced that it will raise ₹1 billion in its passenger Electric Vehicle (EV) business from TPG Rise Climate in exchange for compulsorily convertible preference shares to create a portfolio of EVs and dedicated Battery Electric Vehicle (BEV) platforms. Tata Motors and TPG Rise Climate entered into a binding agreement under which TPG along with its co-investor ADQ to invest in a subsidiary of Tata Motors.
Reliance Consumer Products (RCPL), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures, owned by Reliance Industries, has entered into a strategic partnership with Sri Lanka-based Maliban Biscuit Manufactories. Maliban is a biscuit manufacturer in Sri Lanka for the past 70 years with its range of products, including biscuits, crackers, cookies and wafers. The company has expanded its products reach to global markets and exports to over 35 countries across five continents.
Crisis-ridden telco Vodafone Idea on Tuesday said its board has approved an issue of optionally convertible debentures of up to ₹1,600 crore to vendor American Tower Corporation. After a meeting of the board of directors, the company in a regulatory filing said that it will convene an extraordinary general meeting on February 25 to seek shareholders’ nod for the same.
According to media reports that Biocon plans to sell four crore shares in Syngene International Ltd, a contract research and manufacturing firm. The offer price range has been set at ₹560-562.30, with the total offer size expected to reach ₹2,240 crore at the lower end of the price range. The offering quantity will be equivalent to approximately 10 per cent of the Syngene’s equity. Promoter BIocon holds 64.56 per cent stake in Syngene.
Results calendar: Ajanta Pharma, Amarjothi Spinning Mills, Alembic Pharma, Aro Granite, Artemis Medicate, Ashok Leyland, Bhageria Industries, , Camex, Entertainment Work, Gillette, Gujarat Cotex, Hari Govind International, HG Industries, Hindustan Copper, IDFC, India Cements Capital, JIndal Capital, Jubilant Foodworks, Kaya, Krishna Filament, Lakshmi Machine Works, Mahindra Logistics, MAS Financial, Medinova Diagnostic, Nelcast, Prism Johnson, Ramco Systems, Raymond, Redington, RPG Lifesciences, RS Software, Sundram Fasteners, Tata Chemicals, Timken, UTI AMC and Whirlpool.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.