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Shares of automobile companies such as Tata Motors, Maruti Suzuki, Mahindra and Mahinda, Ashok Leyland, Escorts, Hero MotoCorp, Bajaj Auto and TVS Motors will be in focus as they will declare the sales figures for May. According to Elara Securities, dispatches in May are expected to improve across segments, with the commercial vehicle segment leading the charge at 11.5 per cent. Medium and heavy commercial vehicle (MHCV) segment is likely to outperforme light commercial vehicle (LCV) segment. The passenger vehicle segment is likely to register 9.5 per cent. Two-wheeler demand may improve sequentially due to factors such as marriage season demand, good harvest season and anticipation of robust monsoon, it added.
Promoters of Bata India will offload 36 lakh shares or 2.8 per cent stake on Wednesday through a block deal, according to media reports. The floor price has been fixed at ₹1,750 a share, at a 6.8 per cent discount from the current market price. The promoters would raise ₹630 crore through the deal.
A joint venture of Rail Vikas Nigam Limited—RVNL-Bhartia JV—has been awarded letter of acceptance (LoA) for construction of single line BG Tunnel in connection with DMV-Kohima New BG Line Project by Northeast Frontier Railway. The total estimated cost of the project is ₹560.26 crore.
Bharat Dynamics Limited has signed a contract worth ₹2,971 crore with Ministry of Defence for supply of Astra MK-I Beyond Visual Range (BVR) air-to-air missile and associates equipment to Indian Air Force and Indian Navy.
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GOCL Corporation Ltd on Tuesday said it has concluded sale of 32 acres of land at Kukatpally, Hyderabad for ₹326.80 crore. The sale of balance 12.25 acres of land will be concluded in due course, it further said. On May 27, GOCL Corporation Ltd had informed the exchanges that it sees a big opportunity in the growing and lucrative realty sector, and is planning to monetise its large land bank at Bengaluru, Kukatpally (Hyderabad) and Bhiwandi (Maharasthra).
HFCL Ltd, along with its material subsidiary, HTL Limited, has received the purchase orders aggregating to ₹237.25 crore, from one of the leading private telecom operators of the country for supply of optical fibre cables (OFC)
Dhanuka Agritech Ltd on Tuesday introduced two new products—one herbicide and one fungicide—in India for the first time for maize and tomato crops. The two products, Cornex and Zanet, have been launched in Maharashtra and will soon be made available in other parts of the country, the company said in a statement.
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