Tata Motors, Hero MotoCorp in focus after monthly sales

Tata Motors Commercial and Passenger Vehicles Business sales in the domestic market witnessed a drop of 3% at 57,221 units as against 58,993 units sold over last year as weak consumer sentiments continued in February 2019. The announcement was made after market hours on Friday, 1 March 2019.

Hero MotoCorp reported sales of 617,215 units of two-wheelers in the month of February 2019. In the first two months of the current quarter, there has been a sequential pickup in the demand, although still lower than expected. The announcement was made after market hours on Friday, 1 March 2019.

Jet Airways (India) informed that an additional two aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements. The company is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken by the company to improve its liquidity. The announcement was made yesterday, 4 March 2019, when the stock markets were closed for a local holiday.

Reliance Industrial Investments and Holdings (RIIHL), a wholly-owned subsidiary of Reliance Industries (RIL) has entered into an agreement for acquisition of equity shares of C-Square Info Solutions (C-Square) for a cash consideration not exceeding Rs 22.04 crore. RIIHL will further invest an amount of up to Rs 60 crore and is likely to be completed by March 2021.The total investment will translate into about 82% of equity capital in C-Square on a fully diluted basis. The announcement was made on Saturday, 2 March 2019.

Indian Hume Pipe has received three Letters of Intent for the works aggregating to Rs 187.06 crore (excluding GST) from Vidarbha Irrigation Development Corporation, Nagpur. The announcement was made on Saturday, 2 March 2019.

Mishra Dhatu Nigam (MIDHANI) has secured one order worth about Rs 475 crore. The cumulative order booking during the Financial Year 2018-19 is about Rs. 1800 crore. The announcement was made on Saturday, 2 March 2019.

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