Auto stocks in focus

Auto stocks will be in focus as the auto companies will start announcing monthly sales numbers for February 2018 from today, 1 March 2018.

MOIL said it hiked prices of various grade of Manganese Ore effective from 1 March 2018 on the existing prices prevailing since 1 January 2018. The prices of Ferro Grade, SMGR (Mn 30% & Mn 25%) and Chemical Grade have been increased by about 10%. The prices of Fines have been increased by about 5% and continued the discount at 10% on the basic price of fines namely BGF534, DBF487 and UKF532. The announcement was made after market hours yesterday, 28 February 2018.

Shriram Transport Finance Company said its debt issuance committee approved issuing rupee-denominated bonds under the Medium Term Notes Programme established on 22 February 2018 for an amount not exceeding Rs 5000 crore in one or more tranches and delegated necessary powers to the authorised officials of the company to issue Rupee Denominated Bonds subject to the favorable market conditions. The tenure of the instrument is upto seven years. The announcement was made after market hours yesterday, 28 February 2018.

The board of directors of Dynamatic Technologies approved the plan for the future of auto divisions of the company and has directed the management to execute the divestment of JKM-Auto division situated at Irrangattukottai, Sriperumbudur, Tamil Nadu; Aluminium Foundry division situated at Irrangattukottai, Sriperumbudur, Tamil Nadu and Wind farm property situated at Coimbatore, Tamil Nadu. Simultaneously, steps to be taken to ensure that JKM Ferrotech becomes a 100% subsidiary of JKM Erla Automotive (JEAL), which is also the holding company of Eisenwerk Erla, GmbH. The announcement was made after market hours yesterday, 28 February 2018.

Ashoka Buildcon announced that the company's subsidiary viz. Ashoka Concessions (ACL) emerged as the lowest bidder at the financial bid opening meeting held on 28 February 2018 at New Delhi for the project of six laning of road in Jharkhand under NHDP Phase-V on hybrid annuity mode of National Highways Authority of India (NHAI). The company quoted bid project cost is Rs 860.10 crore. The announcement was made before market hours today, 1 March 2018.

Dilip Buildcon has been declared lowest bidder by the National Highways Authority of India for three new hybrid annuity projects valued at Rs 5390 crore in Karnataka and Jharkhand respectively. The announcement was made before market hours today, 1 March 2018.

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