Auto stocks in focus on November sales data

Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for November starting from today, 1 December 2020.

Hero MotoCorp has appointed global mobility expert Michael Clarke to the newly created position of chief operating officer (COO), with the additional role of chief human resources officer (CHRO). Based out of India, Mike will join Hero MotoCorp effective 1 January 2021 and report to Dr. Pawan Munjal, Chairman & CEO of Hero MotoCorp. The nomination and remuneration committee of Hero MotoCorp has approved the appointment.

Dr. Reddy's Laboratories on Saturday (28 November 2020) announced that it has entered into a definitive agreement with Glenmark Pharmaceuticals to acquire select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan. Dr. Reddy's will acquire brands Momat Rino (for Russia, Kazakhstan and Uzbekistan), Momat Rino Advance (for Russia), Momat A (for Kazakhstan and Uzbekistan), Glenspray and Glenspray Active (for Ukraine), along-with rights to the trademarks, dossiers and patents for the territories mentioned, subject to completion of certain precedent actions and closing activities.

ICICI Lombard General Insurance Company said that Insurance Regulatory and Development Authority of India (IRDAI), has granted in-principle approval to the draft scheme of arrangement between the company and Bharti AXA General Insurance Company.

Unichem Laboratories announced that it has received ANDA approval for its Atenolol and Chlorthalidone Tablets, USP 50 mg/25 mg and 100 mg/25 mg from the United States Food and Drug Administration (USFDA) to market a generic version of TENORETIC (atenolol and chlorthalidone) Tablets of Alvogen Malta Operations.

Indiabulls Housing Finance on Saturday (28 November 2020) announced that it has raised about Rs 93 crore by further reducing its stake in OakNorth Holdings. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the housing finance company.

Gayatri Projects on Saturday (28 November 2020) said it received letter of award (LoA) from Namami Gange & Rural Drinking Water Department in Uttar Pradesh. The project is for construction of Jhakhaun Birdha, Dorra Balabehat Kadesara Kalan & Mau group of villages water supply scheme, district-Lalitpur and relevant works including commissioning and operation and maintenance of the same for a period of 10 years. The bid project cost is Rs 395.98 crore.

Hindustan Construction Company (HCC), in a joint venture with Vensar Constructions Company (VCCL), has been awarded Rs 236 crore orders in two separate contracts from the Northeast Frontier Railway. The order is for the construction of Single Line BG Tunnels Lot 14A and Lot 15A on a 51.38 km long Bairabi-Sairang New BG Rail line in Manipur. "HCC share in the JV is 55% (approximately Rs 130 crore), the company said.

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