The auto sales data for the month of June released by automobile companies reflect a mixed trend performances across the spectrum. Maruti Suzuki India sold 1.5 lakh units in June, a near 2 percent rise from the 1.56 lakh units in the year-ago period; Tata Motors witnessed an 8 per cent YoY rise in its passenger vehicle sale in the June quarter of 2023 against the June quarter of previous year; Eicher Motors Ltd sold 6715 vehicles during June 2023, as against 6307 in June 2022 registering a growth of 6.5% YoY; SML ISUZU has announced sales of 1279 units in June 2023, 3 per cent lower than 1322 units sold in June 2022; Atul Auto sold 1267 vehicles in June 2023 as compared to 1818 vehicles sold in June 2022, a drop of 30.31 per cent YoY; VST Tillers Tractors sold 4,638 units in June 2023, as compared to 4,358 units in June 2022; Escorts Kubota’s Construction Equipment Business Division figure is 491 machines, registering a growth of 53.0 percent as against 321 machines sold in June 2022; and Hero MotoCorp has reported total sales at 4,36,993 units in June 2023, decline of 9.9 per cent.

Online food delivery firm Zomato Ltd has introduced an open data analysis platform for food trends aimed to help its restaurant partners in taking a data-driven approach on prices, dishes and location.

Zomato Food Trends is an open platform accessible to the general public free of charge and it will “provide insights by analysing data from millions of transactions across hundreds of cities in India”, the company said in a statement.

The board of Aastamangalam Finance has approved the issue and allotment of up to 27,90,750 Equity Shares of face value Rs 10 per share at a price of Rs 40 for cash to Promoters and Non- Promoters on preferential basis, subject to the approval of the shareholders.

Granules India Limited, a leading vertically integrated pharmaceutical company has completed the U.S. Food and Drug Administration’s (US FDA) Pre-Approval Inspection (PAI) and GMP audit for their Unit IV facility located at Visakhapatnam, Andhra Pradesh, India with zero 483 observations. Recently, Granules India’s Jeedimetla facility located at Telangana, Hyderabad, India also successfully completed the US FDA’s surveillance inspection with zero 483 observations.

The Board of Kansai Nerolac Paints has approved the sale of transaction 96810 sq Mts including the sale of additional area admeasuring 910 sq. pts., thus aggregating to a total area of 97,090 sq. mts., together with the transfer of rights in land admeasuring 6,300 sq. mts. at Kavesar, Thane, for a total consideration of Rs.671 Crores to the Purchaser (Shoden Developers Private Limited, a group company of House of Hiranandani).

Siemens Limited has completed the acquisition of Electric Vehicle division of Mass-Tech Controls Private Limited in accordance with the definitive agreements entered between the parties for a consideration of Rs 38 crore which is subject to adjustments mutually agreed between the parties to the transaction.

Facor Alloys has announced that the manufacturing facilities at Vizianagaram, (A.P.) shall become under temporary shutdown w.e.f. 15.07.2023 till further notice, due to steep rise in the Power Tariff for Ferro Alloys industry by the DISCOM in Andhra Pradesh (AP), resulting the unviable situation for running of Plant Operations in view of high input cost and negative margin at the prevailing market price.

Dynamatic Technologies Limited’s step-down subsidiary Eisenwerk Erla GmbH (EEL) had applied for the “protective shield process” under German Laws. Considering the various challenges due to the ongoing Ukraine conflict and resultant inflation and supply chain crisis in Europe and more specifically Germany, and the steep and unpredictable increase in the cost of gas and electricity, EEL, based on professional advice from experts, initiated the aforesaid corporate protective measures.

Aditya Birla Capital Limited has announced completion of the fund raise of Rs. 3,000 crore, through a Qualified Institutional Placement (“QIP”) of equity shares aggregating to Rs 1,750 crores and a preferential issuance of equity shares aggregating to Rs. 1,250 crores to its Promoter and Promoter Group entity, Grasim Industries Limited and Surya Kiran Investments Pte. Ltd., respectively.

GTPL Hathway Limited has entered into Share Purchase and Subscription cum Shareholders’ Agreement to acquire 4,37,676 equity shares of Rs. 10 each of Metro Cast Network India Private Limited =at the rate of Rs 571.1982 a share for cash consideration aggregating to Rs 25 crore from its existing shareholders and to subscribe 4,02,428 equity shares of Rs. 10 each at the rate of Rs 571.1982 per share for consideration other than cash, i.e., in lieu of sale/transfer of Set-Top-Boxes by the Company to Metro Cast aggregating to Rs 22.987 crore.

Shiva Cement Limited has commissioned 1.36 mtpa Clinker unit and 9 MW Waste Heat Recovery at Sundargarh, Odisha. The company has already received CTO from State Pollution Control Board for 0.66 MTPA Clinker and 9 MW WHRS and the balance is awaited.

GQG Partners Emerging Markets Equity Fund has bought 72.59 lakh shares and Goldman Sachs Trust II - Goldman Sachs GQG Partners International Opportunities Fund purchased 1.4 crore equity shares in Adani Transmissionvia open market transactions, as per bulk deals data available with the exchanges.

Reliance Industries and bp p.l.c. announced commencement of production from the MJ field. The MJ field represents the last of three major new deepwater developments the RIL-bp consortium have brought into production in block KG D6 off the east coast of India. Together, the three fields are expected to produce around 30 million standard cubic metres of gas a day (1 billion cubic feet a day) when MJ field reaches peak production.

Related Topics
comment COMMENT NOW